Laser Plastic Welding Market - Integrated Systems Segment to Hold Slightly Higher Share in Global Market
The global laser plastic welding market is characterized by material processing machinery manufacturers innovating in terms of welding methods, laser source and automation in order to cater to intensely competitive manufacturing machinery market. Laser plastic welding system manufacturers are also realizing the significance of introducing innovative technology as part of their branding and marketing strategies. Increasing consumer preference for aesthetically compelling products has driven the demand of laser plastic welding due to its capability of performing welding operation in the hidden surfaces. Various developments in the methods of the laser plastic welding has increased flexibility in the required condition for plastic welding and resulted into expansion of the market into various industries for multiple applications.
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The global laser plastic welding market is expected to expand at a CAGR of 8.3% in terms of market value over the forecast period 2017-2025. The global market is observed to generate revenues primarily driven by automotive, electrical and electronics, and healthcare industry.
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On the basis of system type, the global laser plastic welding market is segmented into standalone systems and integrated systems. In terms of global volume, integrated systems segment is anticipated to account for slightly higher share than the standalone systems segment and forecasted to move towards equilibrium to reduce the difference in market shares of the two segments. Due to comparatively low prices of standalone systems, lying into the affordable range for the emerging manufacturers has resulted into the higher pace of growth of the standalone systems segment.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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