2024-09-10 19:18:21 +0300

Laser Cladding Market Size, Share, Industry Analysis, Trends, Statistics, Emerging Technologies, and Forecast 2022-2030

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Rising trend of sifting from conventional laser to laser cladding technologies is a key factor driving laser cladding market revenue growth

Market Size USD 472.3 Million in 2021, Market Growth at a CAGR of 9.4%, Market Trends Laser cladding solutions applied for rail repair”
— Emergen Research

VANCOUVER, BC, CANADA, September 10, 2024 /EINPresswire.com/ -- 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.

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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.

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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.

The Global Laser Cladding Market Research Report is furnished with the latest information about product specifications and portfolio, technological advancement, product type, and manufacturing. Major factors such as revenue, costs, and gross margin are taken into consideration while formulating this report. The report provides extensive data concerning the key market players along with their SWOT analysis, financial standing, technological and product development, and recent strategic business expansion plans.

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Key Highlights from the Report

The iron-based alloys segment revenue is expected to increase at a steady rate over the forecast period. Laser-cladding process of an iron-based alloy on steel reduced the number of cracks. In addition, this alloy with completely metallurgical bonds to the substrate provides an economical and environment-friendly alternative, which makes it popular in various industrial applications.

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The automotive segment is expected to register a steady revenue growth rate over the forecast period due to rising adoption of laser cladding in automotive applications. Laser cladding for production of automotive parts is becoming an industry standard and important procedure for a variety of automotive applications. This technology is also used to repair high-volume automotive components.

The Asia Pacific market accounted for largest revenue share in the global laser cladding market in 2021. This is due to rising demand for laser cladding technologies in aerospace and automotive industries in countries in this region, especially in China, Japan, and India. China is one of the world's top automotive producers. According to China Association of Automobile Manufacturers (CAAM), overall vehicle sales in China in 2022 is expected to reach 27.5 million units.

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., Hgans 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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To know more about the report @ https://www.emergenresearch.com/industry-report/laser-cladding-market

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 R&D activities, investment opportunities, and presence of key players in the region.

Radical Features of the Laser Cladding Market Report:

The report encompasses Laser Cladding market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements

An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently

Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies

Supply chain analysis along with technological advancements offered in the report

The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Laser Cladding industry

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Thank you for reading the research report. To get more information about the customized report and customization plan, kindly connect to us and we will provide you with the well-suited customized report.

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About Us:

At Emergen Research, we believe in advancing with technology. We are growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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Eric Lee
Emergen Research
+91 90210 91709
[email protected]
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