Global Laser Cladding Market Size, Trends & Growth Opportunity, By Type (Diode laser, Fiber laser, CO2 laser, Acoustic laser, others), By Materials (Cobalt-based alloys, Nickel-based alloys, Iron-based alloys, Carbides & Carbide blends), By End-use Industry (Oil & gas, Mining, Aerospace & Defense, Automotive, Power Generation, Others.) By Region and Forecast till 2027.
Report ID : QR1001353 | Industries : Information and Communication Technology | Published On :January 2022 | Page Count : 243Global Laser Cladding Market
The global Laser Cladding market was valued at USD 485 million in 2020 which expected to reach USD 825 million by 2027 at a CAGR 9.8% from 2020-2027.
Laser cladding, also known as laser metal deposition, is a method of depositing one material on the surface of another. A stream of metallic powder or wire is fed into a melt pool generated by a laser beam as it scans across the target surface, depositing a coating of the chosen material.
Materials can be deposited accurately, selectively, and with minimal heat input into the underlying substrate using laser cladding technology.
Market Drivers
Fiber lasers are becoming more widely used in laser cladding applications.
The industrial sector is now the largest market for fibre lasers, with much of the action centred on kilowatt-class power levels. Their application in automotive works is particularly intriguing. The automotive industry is transitioning to high-strength steel in order to produce cars that meet durability requirements while remaining relatively light for improved fuel economy; the problem is determining how to cut the high-strength steel.
Know more about this report: request for sample pages
Market Restraints
High deployment costs and a scarcity of personnel with the necessary technical expertise. The lasers needed for various processes, systems, and applications range in power from a few hundred to thousands of watts. Large-scale laser displays, medical, military, research, laser-induced nuclear fusion, and materials processing (welding, cutting, drilling, cladding, soldering, marking, and surface modification) applications all make use of high-power lasers. Although laser cladding aids in the reduction of workforce and related costs in the automotive and manufacturing industries, its implementation requires a significant investment.
Impact of COVID-19
COVID-19's effects on the laser cladding market and consumer demand have a negative overall impact on the laser industry. Because the majority of laser manufacturers and raw material suppliers are based in China, it is expected that laser manufacturing will decline faster than expected in the short term. The industry continues to rely heavily on China for laser manufacturing, including the production of subcomponents such as laser sources, galvanometers, output couplers, and others. Because of the pandemic, component supplies have been disrupted, resulting in a limited supply of laser products.
Market Segmentation
The Global Laser Cladding Market is segmented into Type, Materials, Distribution Channel and Growing System. By Type such as Integrated Diode laser, Fiber laser, CO2 laser, Acoustic laser, Others, By Materials such as Cobalt-based alloys, Nickel-based alloys, Iron-based alloys, Carbides & Carbide blends. By End-use Industry such as Oil & gas, Mining, Aerospace & Defense, Automotive, Power Generation, Others.
Regional Analysis
Global Laser Cladding Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. During the forecast period, the laser cladding market in APAC is expected to grow at the fastest CAGR. The APAC laser processing market is dominated by China, Japan, South Korea, and India. APAC has been the most aggressive in adopting laser processing solutions when compared to other regions. Several startups have emerged with government and private funding to develop advanced laser cladding applications.
Key Players
Various key players are listed in this report such as TRUMPF, OC Oerlikon Management AG , Coherent, Inc , IPG Photonics Corporation , Han’s Laser Technology Industry Group Co., Ltd. , Hoganas AB , Lumibird , Lumentum Operations LLC , Curtiss-Wright Corporation
Market Taxonomy
By Type
- Diode laser
- Fiber laser
- CO2 laser
- Acoustic laser
- Others
By Materials
- Cobalt-based alloys
- Nickel-based alloys
- Iron-based alloys
- Carbides & Carbide blends
By End-use Industry
- Oil & gas
- Mining
- Aerospace & Defense
- Automotive
- Power Generation
- Others
By Region
- North America
- Latin America
- Europe
- China
- Asia Pacific
- Middle East & Africa
Key Questions Addressed by the Report
- What are the Key Opportunities in Global Laser Cladding Market?
- What will be the growth rate from 2020 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
Global Laser Cladding Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Laser Cladding Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Laser Cladding Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Laser Cladding Market Share Analysis, By Type
5.3 Global Laser Cladding Market Size and Forecast, By Type
5.3.1 Diode laser
5.3.2 Fiber laser
5.3.3 CO2 laser
5.3.4 Acoustic laser
5.3.5 Others
6 Global Laser Cladding Market, By Materials
6.1 Y-o-Y Growth Comparison, By Materials
6.2 Global Laser Cladding Market Share Analysis, By Materials
6.3 Global Laser Cladding Market Size and Forecast, By Materials
6.3.1 Cobalt-based alloys
6.3.2 Nickel-based alloys
6.3.3 Iron-based alloys
6.3.4 Carbides & Carbide blends
7 Global Laser Cladding Market, By End-use Industry
7.1 Y-o-Y Growth Comparison, By End-use Industry
7.2 Global Laser Cladding Market Share Analysis, By End-use Industry
7.3 Global Laser Cladding Market Size and Forecast, By End-use Industry
7.3.1 Oil & gas
7.3.2 Mining
7.3.3 Aerospace & Defense
7.3.4 Automotive
7.3.5 Power Generation
7.3.6 Others
8 Global Laser Cladding Market, By Region
8.1 Global Laser Cladding Market Share Analysis, By Region
8.2 Global Laser Cladding Market Share Analysis, By Region
8.3 Global Laser Cladding Market Size and Forecast, By Region
9 North America Laser Cladding Market Analysis and Forecast (2021-2027)
9.1 Introduction
9.2 North America Laser Cladding Market Share Analysis, By Type
9.3 North America Laser Cladding Market Size and Forecast, By Materials
9.4 North America Laser Cladding Market Size and Forecast, By End-use Industry
9.6 North America Laser Cladding Market Size and Forecast, By Country
9.7.1 U.S.
9.7.2 Canada
9.7.3 Mexico
10 Europe Laser Cladding Market Analysis and Forecast (2021-2027)
10.1 Introduction
10.2 Europe Laser Cladding Market Share Analysis, By Type
10.3 Europe Laser Cladding Market Size and Forecast, By Materials
10.4 Europe Laser Cladding Market Size and Forecast, By End-use Industry
10.6 Europe Laser Cladding Market Size and Forecast, By Country
10.6.1 Germany
10.6.2 France
10.6.3 UK
10.6.4. Rest of Europe
11 Asia Pacific Laser Cladding Market Analysis and Forecast (2021-2027)
11.1 Introduction
11.2 Asia Pacific Laser Cladding Market Share Analysis, By Type
11.3 Asia Pacific Laser Cladding Market Size and Forecast, By Materials
11.4 Asia Pacific Laser Cladding Market Size and Forecast, By End-use Industry
11.6 Asia Pacific Laser Cladding Market Size and Forecast, By Country
11.6.1 China
11.7.2 Japan
11.8.3 India
11.8.4. Rest of Asia Pacific
12 Latin America Laser Cladding Market Analysis and Forecast (2021-2027)
12.1 Introduction
12.2 Latin America Laser Cladding Market Share Analysis, By Type
12.3 Latin America Laser Cladding Market Size and Forecast, By Materials
12.4 Latin America Laser Cladding Market Size and Forecast, By End-use Industry
12.6 Latin America Laser Cladding Market Size and Forecast, Country
12.7.1. Brazil
12.8.2. Rest of Latin America
13 Middle East Laser Cladding Market Analysis and Forecast (2021-2027)
13.1 Introduction
13.2 Middle East Laser Cladding Market Share Analysis, By Type
13.3 Middle East Laser Cladding Market Size and Forecast, By Materials
13.4 Middle East Laser Cladding Market Size and Forecast, By End-use Industry
13.6 Middle East Laser Cladding Market Size and Forecast, By Country
13.7.1. Saudi Arabia
13.8.2. UAE
13.8.3. Egypt
13.9.4. Kuwait
13.10.5. South Africa
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 TRUMPF
15.1.1 Overview
15.1.2 Types
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2. OC Oerlikon Management AG
15.2.1 Overview
15.2.2 Types
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3. Coherent Inc
15.3.1 Overview
15.3.2 Types
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 IPG Photonics Corporation
15.4.1 Overview
15.4.2 Types
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 Han’s Laser Technology Industry Group Co., Ltd
15.5.1 Overview
15.5.2 Types
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Hoganas AB
15.6.1 Overview
15.6.2 Types
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Lumibird
15.7.1 Overview
15.7.2 Types
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 Lumentum Operations LLC
15.8.1 Overview
15.8.2 Types
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
16.8 Curtiss-Wright Corporation
16.8.1 Overview
16.8.2 Types
16.8.3 Key Financials
16.8.4 Business Segment & Geographic Overview
16.8.5 Key Market Developments
16.8.6 Key Strategies