The global Laser Cladding (LC) market size was USD 472.3 Million in 2021 and is expected to register a revenue CAGR of 9.4% during the forecast period, according to latest analysis by Emergen Research. Rising trend of sifting from conventional laser to laser cladding technologies is the key factor driving market revenue growth.
For many years, laser cladding has been utilized in a wide range of sectors to improve functional surfaces of metal components. It is a weld build-up process that readily surpasses conventional welding processes, such as Tungsten Inert Gas (TIG) for advanced weld repair applications and Plasma Transferred Arc (PTA) welding, in present days. Laser cladding enables power densities not normally feasible with conventional thermal techniques, resulting in minimal heat input, minimal deformation, and avoidance of post-weld heat treatments. In addition, growing adoption of laser cladding technologies over conventional lasers is expected to drive revenue growth of the market. Various companies are introducing advanced laser cladding technologies in the market.
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For instance, in August 2020, Bilsing Automation, a Germany-based automotive stamping and material handling solutions provider announced the introduction of EHLA, which is a high-speed Laser Metal Deposition (LMD) laser cladding technique that helps shield components from corrosion and wear. In comparison to hard chrome plating, thermal spraying, and conventional LMD, this technique offers a quicker, more affordable, and ecologically friendly option for coating surfaces.
In December 2021, Australian researchers invented laser cladding solutions that could be used to repair damaged railways on a massive scale in remote locations. The approach, published in Journal of Materials Processing Technology has the potential to extend rail service life while reducing costs and maintenance time. This method appears to be superior to traditional arc-weld-based cladding operations, which is most often used for repairing wear damage in rails.
The Laser Cladding Market research report is a comprehensive and vital document encompassing business strategies, qualitative and quantitative analysis, and emerging trends of the global Laser Cladding Market. The report offers in-depth research and assessment of the key elements of the global Laser Cladding Market. The research analysts have formulated this report through thorough primary and secondary research with a detailed analysis of the drivers, restraints, challenges, trends, and opportunities to provide a panoramic view of the Laser Cladding Market.
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The report also discusses the key players involved in the market such as OC Oerlikon Management AG, TRUMPF, IPG Photonics Corporation, Coherent, Inc., Höganäs AB, Curtiss-Wright Corporation, Laserline GmbH, Titanova, Inc., Hardchrome Engineering, and LaserBond Ltd. and others as well as new entrants in the market. It focuses on the recent mergers acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others. The report also provides details about the company overview, business expansion plans, product portfolio, manufacturing and production capacity, global market position, financial status, and consumer base.
Emergen Research has segmented the global laser cladding market based on type, materials, revenue, end-use, and region:
Type Outlook (Revenue, USD Million; 2019-2030)
Diode laser
CO2 laser
Acoustic laser
Fiber laser
Others
Materials Outlook (Revenue, USD Million; 2019-2030)
Cobalt-based alloys
Iron-based alloys
Nickel-based alloys
Carbides carbide blends
Others
Revenue Outlook (Revenue, USD Million; 2019-2030)
System revenue
Laser revenue
End-use Outlook (Revenue, USD Million; 2019-2030)
Oil gas
Automotive
Mining
Aerospace defense
Power generation
Others
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Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.
Detailed Regional Analysis covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Benefits of Buying the Global Laser Cladding Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global Laser Cladding Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Laser Cladding Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Laser Cladding Market
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