Laser Welding Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Laser Welding Market
The laser welding market size was valued at USD 1.96 billion in 2021, and the market is now projected to grow from USD 2.03 billion in 2022 to USD 2.79 billion by 2029, exhibiting a CAGR of 4.7% during the forecast period of 2022-2029.
Pandemic has disrupted industries like welding, metallic fabrication, and scientific applications, inflicting economic losses for key corporations and small and medium-sized organizations. However, welding has visible a surge because of growing programs in the clinical zone. Major players are actually making strategic selections to develop their profits and marketplace proportion, which incorporates acquisitions, mergers, and technological innovations, to beneficial useful resource marketplace growth for laser welding.
Laser welding structures automate the fabrication manner, growing production charges and lowering scrap costs. Although more high-priced than conventional methods, the cost savings make the additional cost negligible. They are utilized in diverse industries, such as medical devices, dental and jewelry, tool and mold production, and automotive and heavy industries. Advantages over MIG spot welding and TIG encompass excessive-energy welds, limited warmness-affected zones, and the usage of excessive-power materials like metal, carbon metallic, titanium, aluminum, stainless steel, and valuable metals. Precision paintings is also carried out with small, tightly controlled laser beams, driving the laser welding market growth. These factors make contributions to the industry's increase.
Additive manufacturing gives a greater efficient and value-effective opportunity to standard production strategies, bearing in mind the introduction of complex merchandise with complex geometries. This technique optimizes cloth utilization and decreases waste, as traditional techniques do away with extra material and reuse it. It removes the want for specific tactics like bending, reducing, casting, and welding. This method notably reduces capital, scrap material, and raw material costs. Additionally, additive production aids in fast design iterations. With advancements in 3m printing technology, this generation should revolutionize the manufacturing system.
Comprehensive Analysis of Laser Welding Market
The laser welding market is divided into two main modes: conduction and deep penetration. Conduction mode is expected to have the highest share in the coming years due to its ability to deliver low laser energy to the metal, resulting in flat welds with less penetration. Deep penetration mode, also known as keyhole penetration mode, is projected to experience major growth during the forecast period. Technology-wise, the market is divided into gas laser (C02), solid-state laser, fiber laser, and diode/semiconductor laser. Fiber lasers are projected to have exponential growth due to their advanced technology and ease of operation. Gas lasers, such as carbon dioxide (C02) lasers, are expected to exhibit substantial proliferation over the coming years. Solid-state lasers are predicted to experience significant growth due to the utilization of laser mediums such as yttrium, aluminum, garnet (YAG), and yttrium vanadate crystals (YV04). Diode/semiconductor lasers are estimated to grow substantially due to their compact design and high conversion efficiency. The market is divided into automotive, aluminum alloy fuselage, jewelry industry, medical, electronics, shipbuilding, and others (oil & gas). Laser welders are highly preferred in the automotive sector due to their high precision in welding automotive parts. Laser welding offers significant advantages to shipyards, including faster welding speeds, lower thermal stresses, and less rework.
The Asia Pacific region lead the laser welding market share by benefitting a market size of USD 0.69 billion in 2021 due to increasing industrialization and several manufacturing bases. The adoption of high-stop generation and consciousness of welding in various sectors is expected to accelerate market increase. China, with its massive manufacturing area and emphasis on productivity development, is anticipated to come to be the most crucial country in the location. The automobile enterprise, certainly one of China's pillars, is the world's largest, with general automobile production achieving 27.8 million devices in 2018, ahead of predominant markets like the U.S., Japan, and Germany.
The worldwide market for welding is fragmented, with huge global and small local players. Many worldwide groups have set up robust footholds, such as Keepsake Automation LLP, Leister India, AMADA Weld Tech, Vitesco Technologies, Tonggao Advanced Manufacturing Technology Co Ltd, Inrotech, SONICS, JQ Laser, and Extol Laser Plastic Welding. These companies create the nice-in-class welding to enhance the worldwide welding quarter.
Lincoln Electric brought the POWER MIG 360MP welder in November 2019, supplying advanced MIG welding technology for metalworking, body restore, renovation, and light industrial packages.
Segmentation Table
ATTRIBUTE
DETAILS
Study Period
2018-2029
Base Year
2021
Estimated Year
2022
Forecast Period
2022-2029
Historical Period
2018-2020
Unit
Value (USD Billion)
Segmentation
By Mode, Technology, Application, and Region
By Mode
Conduction Mode
Deep Penetration Mode
By Technology
Gas Laser (CO2)
Solid-state Laser
Fiber Laser
Diode/Semiconductor Laser
By Application
Automotive
Aluminum Alloy Fuselage
Jewelry Industry
Medical
Electronics
Shipbuilding
Others (Oil & Gas)
By Region
North America (By Mode, By Technology, By Application)
- U.S. (By Technology)
- Canada (By Technology)
- U.K. (By Technology)
- Germany (By Technology)
- France (By Technology)
- Italy (By Technology)
- Rest of Europe
- China (By Technology)
- Japan (By Technology)
- India (By Technology)
- Southeast Asia (By Technology)
- Rest of Asia Pacific
- GCC Countries (By Technology)
- South Africa (By Technology)
- Rest of Middle East and Africa
- Brazil (By Technology)
- Mexico (By Technology)
- Rest of Latin America
- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of COVID-19
- 3.3.1. Short-term Impact
- 3.3.2. Long-term Impact
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Laser Welding Key Players Market Share Insights and Analysis, 2021
- 5. Global Laser Welding Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- 5.1.
- 5.1.1. Key Findings
- 5.1.2. By Mode (USD Bn)
- 5.1.2.1. Conduction Welding Mode
- 5.1.2.2. Deep Penetration Welding Mode
- 5.1.3. By Technology (USD Bn)
- 5.1.3.1. Gas Laser (CO2) Welding
- 5.1.3.2. Solid-state Laser Welding
- 5.1.3.3. Fiber Laser Welding
- 5.1.3.4. Diode/Semiconductor Laser Welding, etc)
- 5.1.4. By Application (USD Bn)
- 5.1.4.1. Automotive
- 5.1.4.2. Aluminium alloy fuselage
- 5.1.4.3. Jewelry Industry
- 5.1.4.4. Medical
- 5.1.4.5. Electronics
- 5.1.4.6. Shipbuilding
- 5.1.4.7. Others (Oil & Gas,etc.)
- 5.1.5. By Region (USD Bn)
- 5.1.5.1. North America
- 5.1.5.2. Europe
- 5.1.5.3. Asia-Pacific
- 5.1.5.4. Middle East & Africa
- 5.1.5.5. Latin America
- 6. North America Laser Welding Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- 6.1.
- 6.1.1. Key Findings
- 6.1.2. By Mode (USD Bn)
- 6.1.2.1. Conduction Welding Mode
- 6.1.2.2. Deep Penetration Welding Mode
- 6.1.3. By Technology (USD Bn)
- 6.1.3.1. Gas Laser (CO2) Welding
- 6.1.3.2. Solid-state Laser Welding
- 6.1.3.3. Fiber Laser Welding
- 6.1.3.4. Diode/Semiconductor Laser Welding, etc)
- 6.1.4. By Application (USD Bn)
- 6.1.4.1. Automotive
- 6.1.4.2. Aluminium alloy fuselage
- 6.1.4.3. Jewelry Industry
- 6.1.4.4. Medical
- 6.1.4.5. Electronics
- 6.1.4.6. Shipbuilding
- 6.1.4.7. Others (Oil & Gas,etc.)
- 6.1.5. By Country (USD Bn)
- 6.1.5.1. U.S.
- 6.1.5.1.1. By Technology
- 6.1.5.1.1.1. Gas Laser (CO2) Welding
- 6.1.5.1.1.2. Solid-state Laser Welding
- 6.1.5.1.1.3. Fiber Laser Welding
- 6.1.5.1.1.4. Diode/Semiconductor Laser Welding, etc)
- 6.1.5.2. Canada
- 6.1.5.2.1. By Technology
- 6.1.5.2.1.1. Gas Laser (CO2) Welding
- 6.1.5.2.1.2. Solid-state Laser Welding
- 6.1.5.2.1.3. Fiber Laser Welding
- 6.1.5.2.1.4. Diode/Semiconductor Laser Welding, etc)
- 7. Europe Laser Welding Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- 7.1.
- 7.1.1. Key Findings
- 7.1.2. By Mode (USD Bn)
- 7.1.2.1. Conduction Welding Mode
- 7.1.2.2. Deep Penetration Welding Mode
- 7.1.3. By Technology (USD Bn)
- 7.1.3.1. Gas Laser (CO2) Welding
- 7.1.3.2. Solid-state Laser Welding
- 7.1.3.3. Fiber Laser Welding
- 7.1.3.4. Diode/Semiconductor Laser Welding, etc)
- 7.1.4. By Application (USD Bn)
- 7.1.4.1. Automotive
- 7.1.4.2. Aluminium alloy fuselage
- 7.1.4.3. Jewelry Industry
- 7.1.4.4. Medical
- 7.1.4.5. Electronics
- 7.1.4.6. Shipbuilding
- 7.1.4.7. Others (Oil & Gas,etc.)
- 7.1.5. By Country (USD Bn)
- 7.1.5.1. U.K.
- 7.1.5.1.1. By Technology
- 7.1.5.1.1.1. Gas Laser (CO2) Welding
- 7.1.5.1.1.2. Solid-state Laser Welding
- 7.1.5.1.1.3. Fiber Laser Welding
- 7.1.5.1.1.4. Diode/Semiconductor Laser Welding, etc)
- 7.1.5.2. Germany
- 7.1.5.2.1. By Technology
- 7.1.5.2.1.1. Gas Laser (CO2) Welding
- 7.1.5.2.1.2. Solid-state Laser Welding
- 7.1.5.2.1.3. Fiber Laser Welding
- 7.1.5.2.1.4. Diode/Semiconductor Laser Welding, etc)
- 7.1.5.3. France
- 7.1.5.3.1. By Technology
- 7.1.5.3.1.1. Gas Laser (CO2) Welding
- 7.1.5.3.1.2. Solid-state Laser Welding
- 7.1.5.3.1.3. Fiber Laser Welding
- 7.1.5.3.1.4. Diode/Semiconductor Laser Welding, etc)
- 7.1.5.4. Italy
- 7.1.5.4.1. By Technology
- 7.1.5.4.1.1. Gas Laser (CO2) Welding
- 7.1.5.4.1.2. Solid-state Laser Welding
- 7.1.5.4.1.3. Fiber Laser Welding
- 7.1.5.4.1.4. Diode/Semiconductor Laser Welding, etc)
- 7.1.5.5. Rest of Europe
- 8. Asia Pacific Laser Welding Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- 8.1.
- 8.1.1. Key Findings
- 8.1.2. By Mode (USD Bn)
- 8.1.2.1. Conduction Welding Mode
- 8.1.2.2. Deep Penetration Welding Mode
- 8.1.3. By Technology (USD Bn)
- 8.1.3.1. Gas Laser (CO2) Welding
- 8.1.3.2. Solid-state Laser Welding
- 8.1.3.3. Fiber Laser Welding
- 8.1.3.4. Diode/Semiconductor Laser Welding, etc)
- 8.1.4. By Application (USD Bn)
- 8.1.4.1. Automotive
- 8.1.4.2. Aluminium alloy fuselage
- 8.1.4.3. Jewelry Industry
- 8.1.4.4. Medical
- 8.1.4.5. Electronics
- 8.1.4.6. Shipbuilding
- 8.1.4.7. Others (Oil & Gas,etc.)
- 8.1.5. By Country (USD Bn)
- 8.1.5.1. China
- 8.1.5.1.1. By Technology
- 8.1.5.1.1.1. Gas Laser (CO2) Welding
- 8.1.5.1.1.2. Solid-state Laser Welding
- 8.1.5.1.1.3. Fiber Laser Welding
- 8.1.5.1.1.4. Diode/Semiconductor Laser Welding, etc)
- 8.1.5.2. Japan
- 8.1.5.2.1. By Technology
- 8.1.5.2.1.1. Gas Laser (CO2) Welding
- 8.1.5.2.1.2. Solid-state Laser Welding
- 8.1.5.2.1.3. Fiber Laser Welding
- 8.1.5.2.1.4. Diode/Semiconductor Laser Welding, etc)
- 8.1.5.3. India
- 8.1.5.3.1. By Technology
- 8.1.5.3.1.1. Gas Laser (CO2) Welding
- 8.1.5.3.1.2. Solid-state Laser Welding
- 8.1.5.3.1.3. Fiber Laser Welding
- 8.1.5.3.1.4. Diode/Semiconductor Laser Welding, etc)
- 8.1.5.4. Southeast Asia
- 8.1.5.4.1. By Technology
- 8.1.5.4.1.1. Gas Laser (CO2) Welding
- 8.1.5.4.1.2. Solid-state Laser Welding
- 8.1.5.4.1.3. Fiber Laser Welding
- 8.1.5.4.1.4. Diode/Semiconductor Laser Welding, etc)
- 8.1.5.5. Rest of Asia Pacific
- 9. Middle East and Africa Laser Welding Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- 9.1.
- 9.1.1. Key Findings
- 9.1.2. By Mode (USD Bn)
- 9.1.2.1. Conduction Welding Mode
- 9.1.2.2. Deep Penetration Welding Mode
- 9.1.3. By Technology (USD Bn)
- 9.1.3.1. Gas Laser (CO2) Welding
- 9.1.3.2. Solid-state Laser Welding
- 9.1.3.3. Fiber Laser Welding
- 9.1.3.4. Diode/Semiconductor Laser Welding, etc)
- 9.1.4. By Application (USD Bn)
- 9.1.4.1. Automotive
- 9.1.4.2. Aluminium alloy fuselage
- 9.1.4.3. Jewelry Industry
- 9.1.4.4. Medical
- 9.1.4.5. Electronics
- 9.1.4.6. Shipbuilding
- 9.1.4.7. Others (Oil & Gas,etc.)
- 9.1.5. By Country (USD Bn)
- 9.1.5.1. GCC Countries
- 9.1.5.1.1. By Technology
- 9.1.5.1.1.1. Gas Laser (CO2) Welding
- 9.1.5.1.1.2. Solid-state Laser Welding
- 9.1.5.1.1.3. Fiber Laser Welding
- 9.1.5.1.1.4. Diode/Semiconductor Laser Welding, etc)
- 9.1.5.2. South Africa
- 9.1.5.2.1. By Technology
- 9.1.5.2.1.1. Gas Laser (CO2) Welding
- 9.1.5.2.1.2. Solid-state Laser Welding
- 9.1.5.2.1.3. Fiber Laser Welding
- 9.1.5.2.1.4. Diode/Semiconductor Laser Welding, etc)
- 9.1.5.3. Rest of Middle East and Africa
- 10. Latin America Laser Welding Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- 10.1.
- 10.1.1. Key Findings
- 10.1.2. By Mode (USD Bn)
- 10.1.2.1. Conduction Welding Mode
- 10.1.2.2. Deep Penetration Welding Mode
- 10.1.3. By Technology (USD Bn)
- 10.1.3.1. Gas Laser (CO2) Welding
- 10.1.3.2. Solid-state Laser Welding
- 10.1.3.3. Fiber Laser Welding
- 10.1.3.4. Diode/Semiconductor Laser Welding, etc)
- 10.1.4. By Application (USD Bn)
- 10.1.4.1. Automotive
- 10.1.4.2. Aluminium alloy fuselage
- 10.1.4.3. Jewelry Industry
- 10.1.4.4. Medical
- 10.1.4.5. Electronics
- 10.1.4.6. Shipbuilding
- 10.1.4.7. Others (Oil & Gas,etc.)
- 10.1.5. By Country (USD Bn)
- 10.1.5.1. Brazil
- 10.1.5.1.1. By Technology
- 10.1.5.1.1.1. Gas Laser (CO2) Welding
- 10.1.5.1.1.2. Solid-state Laser Welding
- 10.1.5.1.1.3. Fiber Laser Welding
- 10.1.5.1.1.4. Diode/Semiconductor Laser Welding, etc)
- 10.1.5.2. Mexico
- 10.1.5.2.1. By Technology
- 10.1.5.2.1.1. Gas Laser (CO2) Welding
- 10.1.5.2.1.2. Solid-state Laser Welding
- 10.1.5.2.1.3. Fiber Laser Welding
- 10.1.5.2.1.4. Diode/Semiconductor Laser Welding, etc)
- 10.1.5.3. Rest of Latin America
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. AMADA Co. Ltd.
- 11.1.1. Overview
- 11.1.2. Offerings/Business Segments
- 11.1.3. Employee Size
- 11.1.4. Key Financials
- 11.1.5. Recent Developments
- 11.2. Coherent Inc.
- 11.2.1. Overview
- 11.2.2. Offerings/Business Segments
- 11.2.3. Employee Size
- 11.2.4. Key Financials
- 11.2.5. Recent Developments
- 11.3. Emerson Electric Co.
- 11.3.1. Overview
- 11.3.2. Offerings/Business Segments
- 11.3.3. Employee Size
- 11.3.4. Key Financials
- 11.3.5. Recent Developments
- 11.4. FANUC Corp.
- 11.4.1. Overview
- 11.4.2. Offerings/Business Segments
- 11.4.3. Employee Size
- 11.4.4. Key Financials
- 11.4.5. Recent Developments
- 11.5. IPG Photonics Corp.
- 11.5.1. Overview
- 11.5.2. Offerings/Business Segments
- 11.5.3. Employee Size
- 11.5.4. Key Financials
- 11.5.5. Recent Developments
- 11.6. Jenoptik AG
- 11.6.1. Overview
- 11.6.2. Offerings/Business Segments
- 11.6.3. Employee Size
- 11.6.4. Key Financials
- 11.6.5. Recent Developments
- 11.7. Huagong Laser Engineering Co.,Ltd
- 11.7.1. Overview
- 11.7.2. Offerings/Business Segments
- 11.7.3. Employee Size
- 11.7.4. Key Financials
- 11.7.5. Recent Developments
- 11.8. Laserstar Technologies Corp
- 11.8.1. Overview
- 11.8.2. Offerings/Business Segments
- 11.8.3. Employee Size
- 11.8.4. Key Financials
- 11.8.5. Recent Developments
- 11.9. Perfect Laser Co. Ltd.
- 11.9.1. Overview
- 11.9.2. Offerings/Business Segments
- 11.9.3. Employee Size
- 11.9.4. Key Financials
- 11.9.5. Recent Developments
- 11.10. TRUMPF GmbH + Co. KG
- 11.10.1. Overview
- 11.10.2. Offerings/Business Segments
- 11.10.3. Employee Size
- 11.10.4. Key Financials
- 11.10.5. Recent Developments
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