Laser Welding Equipment Market Anticipated to Grow at a Significant Pace by 2025
The product is highly demanded by the essential growth sectors such as photovoltaic, entertainment electronics, medical device technology etc. The continued growth in the photovoltaic demand and succeeding its production is greatly responsible for the growth of global laser welding equipment market. The equipment provides with high precision, flexibility and productivity which allows mass production of innovative products.
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The global laser welding equipment market is expected to grow due to the extensive usage of laser welding equipment in various end user segments. The growing market has been experiencing a phase of emerging acceptance by many new customers that are new to the laser. The global laser welding equipment market is being expanded on the basis of three pronged areas including the already existing users that are increasing their use of laser welding equipment for explicit applications; the development of new technologies for new applications; and the development of new applications for existing technologies.
Recently heavy industries such as wind industry has been increasing their usage of laser welding equipment so as ensure a lower cost of offshore wind energy. The wind turbine towers and substructures are becoming the prime focus points for the laser welding equipment manufacturers.
Laser Welding Equipment Market: Drivers & Restraints
The global laser welding equipment market is expected to grow due increasing demand from automotive sector as well as the construction sector. The market augmentation is further supported by the emerging economies such as Asia pacific with a high growth potential industries such as wind energy. The rising importance of wind energy is expected to promote the global laser welding equipment market.
The emergence of the new procedures and applications globally coupled with new technological development are further driving the growth of global laser welding equipment market.
Conversely the shortage of skilled labours in the industries of manufacturing is accepted to confine the market growth. It is also anticipated that hefty initial price tag (that saves money overtime) and high labour cost can pose a challenge for the growing market of laser welding equipment market.
Laser Welding Equipment Market: Segmentation
By application, the global laser welding equipment market is segmented as follows:
Spot welding and seam welding
Deep penetration welding
Heat conduction welding
Laser welding of plastics
Tube and Profile welding
By end use, the global laser welding equipment market is segmented as follows:
Machine Tool Industry
Medical Device Technology
Solar Industry (Photovoltaic)
Laser Welding Equipment Market: Region-wise Outlook
The laser welding equipment market is expected to register a favourable growth for the forecast period, 2015?2025. The Asia Pacific is projected to endure control on the global laser welding equipment market. The factors contributing to the rising demand in APAC are growing awareness for the laser welding technology and rising construction sector, automotive and transportation sector. Europe is expected to lose its share to emerging economies due to the shortage of raw materials and adverse effects of economic crisis on the end user industries. The North America and Rest of the world followed the European market.
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Laser Welding Equipment Market: Key Players
The key players in the global laser welding equipment market are Lincoln Electric, ITW, Böhler, Panasonic and ESAB (Elektriska Svetsnings-Aktiebolaget)
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