LONDON–(BUSINESS WIRE)–Dec 31, 2018–The global laser welding machine market is expected to post a CAGR of over 5% during the period 2018-2022, according to the latest market research report by .
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Technavio has released a new market research report on the global laser welding machine market for the period 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the growing benefits of laser welding over conventional welding. Laser welding offers several technical advantages, such as deep narrow welds, minimal distortion, and ease of automation, over conventional welding procedures. One of the key advantages of laser welding is its ability to automate the welding process, which helps in increasing the overall production rates. At present, laser welding is used in numerous different fields, from highly precise micro-welding of medical devices to small-scale manual welding in the dental and jewelry industries, via manufacture and repair of tools and dies, to fully automated laser welding in the automotive and heavy manufacturing sectors.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the impact of additive manufacturing as one of the key emerging trends in the global laser welding machine market:
Global laser welding machine market: Impact of additive manufacturing
Additive manufacturing is the process of creating 3D objects using a digital file. In additive manufacturing, one by one, a product is created in thin layers. Additive manufacturing makes it is possible to manufacture products with complex geometries that would be difficult to achieve through conventional manufacturing techniques. Moreover, with additive manufacturing, material usage can be optimized, and wastage can be reduced. In the conventional manufacturing process, excess material is removed, which is later melted and reused, thus adding to the cost.
“The use of additive manufacturing eliminates certain manufacturing processes such as cutting, bending, welding, and casting. Instead of investing in different manufacturing processes to manufacture a product in different stages. the manufacturers can produce the entire product using additive manufacturing. This will result in a significant reduction in raw material costs, capital costs, and the costs incurred in reclaiming the scrap material. Also, additive manufacturing can help in achieving fast design iterations. Therefore, further improvements in 3D printing technology and its increased adoption will lead to complete shift in manufacturing processes,” says a senior analyst at Technavio for research on unit operations.
Global laser welding machine market: Segmentation analysis
This market research report segments the global laser welding machine market by technology (fiber laser, CO2 laser, and solid-state laser) and geographical regions (APAC, EMEA, and the Americas).
The fiber laser segment held the largest market share in 2017, accounting for nearly 63% of the market. This technology segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 46%. This region is expected to dominate the market through 2022, with over 1% increase in its market share.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market segmentation analysis
Market size and forecast
Five Forces Analysis
Key leading countries
Market positioning of vendors
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