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NEW YORK , Aug. 23, 2022 /PRNewswire/ -- The LASER WELDING MACHINE MARKET value is set to grow by USD 373.97 million , progressing at a CAGR of 4.73% from 2020 to 2025, as per the latest report by Technavio. The report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment.
The laser welding machine market report offers information on several market vendors, including AMADA Co. Ltd., Coherent Inc., Emerson Electric Co., FANUC Corp., IPG Photonics Corp., Jenoptik AG, Laserline GmbH, Laserstar Technologies Corp., Perfect Laser Co. Ltd., and TRUMPF GmbH + Co. KG among others. The laser welding machine market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Moreover, to make the most of the opportunities and recover from post COVID-19 impact, market vendors are focusing more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Laser Welding Machine Market 2021-2025: Segmentation
52% of the market's growth will originate from APAC during the forecast period. China is the key market for laser welding machine market in APAC. Market growth in this region will be faster than the growth of the market in regions.
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Growing benefits of laser welding over conventional welding is a key driving factor impacting the global laser welding machine market growth. One of the key advantages of laser welding is its ability to automate the welding process, which helps in increasing the overall production rates. Although laser systems, in general, are more expensive than traditional methods, the cost savings achieved through higher production and lower reject rates almost nullify the additional cost incurred during the purchase of the laser welding systems.
However, the dearth of skilled labor will be a major challenge negatively impacting the global laser welding machine market growth. Labor is the highest cost-consuming component of welding. The lack of a skilled workforce is fast becoming a major challenge for the global laser welding machine market, and this challenge is spreading in countries such as the US, India , and China , which constitute a hub for cheap labor.
Laser Welding Machine Market 2021-2025: Scope
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The report covers the following areas:
Laser Welding Machine Market 2021-2025: Key Highlights
Browse Summary of the FRICTION WELDING MACHINE MARKET Report by End-user and Geography - Forecast and Analysis 2021-2025: The market value is set to grow by USD 250.51 million , progressing at a CAGR of 1.93% from 2020 to 2025, as per the latest report by Technavio. The high quality welding of dissimilar metals made possible is notably driving the friction welding machine market growth, although factors such as the growing popularity of laser welding technology may impede the market growth.
Browse Summary of the LASER CUTTING MACHINE MARKET Report by Product, End-user, and Geography - Forecast and Analysis 2022-2026: The market value is set to grow by USD 1.25 billion from 2021 to 2026, as per the latest report by Technavio. The high quality welding of dissimilar metals made possible is notably driving the friction welding machine market growth, although factors such as the growing popularity of laser welding technology may impede the market growth. Rising digitalization in manufacturing processes is one of the key laser cutting machine market trends propelling the market growth.
Laser Welding Machine Market Scope
Accelerate at a CAGR of 4.73%
APAC, Europe, North America, South America, and MEA
China, US, Germany, Japan, and UK
Leading companies, competitive strategies, consumer engagement scope
AMADA Co. Ltd., Coherent Inc., Emerson Electric Co., FANUC Corp., IPG Photonics Corp., Jenoptik AG, Laserline GmbH, Laserstar Technologies Corp., Perfect Laser Co. Ltd., and TRUMPF GmbH + Co. KG
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.
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Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/ Newsroom: https://newsroom.technavio.com/news/laser-welding-machinemarket
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