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. 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.
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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.
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.
Emergen Research’s latest document, titled ‘Global Laser Cladding Market - Forecast to 2030,’ is one of the most sought-after market reports involving an in-depth analysis of the global Laser Cladding Market. The report’s authors have offered necessary details on the latest Laser Cladding Market trends and the crucial parameters impacting both short-term and long-term market growth. Its panoramic view of the Laser Cladding Market industry entails useful insights into the estimated Laser Cladding Market size, revenue share, and sales distribution networks. Such helpful market insights are bound to help readers outline this industry’s key outcome in the near future.
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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
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.
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The competitive analysis also includes regional analysis of major geographical regions. The report covers regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The report also offers a country wise analysis to impart better understanding of the global Laser Cladding market with regards to market share, market size, production and consumption ratio, product launches and RD activities, investment opportunities, and presence of key players in the region.
Key insights presented in the report:
Market revenue shares by major business players, by type, by application, and market scope of global Laser Cladding market
Sales revenue by key players and new entrants
Competitive analysis of the key players including aspects such as company overview, product or services specification, vendors, and buyers.
Recent mergers, acquisitions, product launches, recent investments, and joint ventures
Regional analysis to provide insight to recent trends and opportunities
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