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Laser Cladding Market Share

Report ID: GMI8161
Published Date: Feb 2024
Report Format: PDF

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Laser Cladding Market Share

IPG Photonics Corporation holds a significant share in the laser cladding industry. IPG Photonics Corporation is a leading provider of high-power fiber lasers used in laser cladding applications. Its lasers offer precise control, high efficiency, and reliability, making them suited for various industrial processes. IPG's solutions enable manufacturers to achieve superior surface properties, such as wear resistance and corrosion protection, in industries such as automotive, aerospace, and oil & gas.

Laser Cladding Market Companies

Major players operating in the laser cladding industry are:

Coherent, Inc.
Curtiss-Wright Corporation
Han’s Laser Technology Industry Group Co., Ltd.
Hayden Corporation
Hoganas AB
IPG Photonics Corporation
Jenoptik
Kondex Corporation
LaserBond Limited
LaserStar Technologies Corporation
Lincoln Laser Solutions
Lumentum Operations LLC
Lumibird
OC Oerlikon Management AG
RUMPF Group
TLM Laser Ltd

Major players, such as IPG Photonics Corporation, Coherent, Inc., OC Oerlikon Management AG, and Jenoptik AG, are constantly implementing strategic measures such as geographical expansion, acquisition, mergers, collaborations, partnerships, and product or service launches to gain market shares.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

The market size of laser cladding was reached USD 600 million in 2023 and is estimated to register a CAGR of over 10% between 2024 and 2032, driven by the defense & military sector’s increasing reliance on the product to repair critical components in vehicles, aircraft, and weapons system.

The diode laser segment accounted for a market share of over 25% in 2023 and is anticipated to expand at a decent pace through 2032, owing to its ability to offer cost-effective and efficient solutions for a wide range of laser cladding applications.

North America laser cladding market registered a revenue share of 35% in 2023and is set to gain traction till 2032, owing to advanced manufacturing capabilities, combined with increased investments in R&D.

Coherent, Inc., Curtiss-Wright Corporation, Han’s Laser Technology Industry Group Co., Ltd., Hayden Corporation, Hoganas AB, IPG Photonics Corporation, Jenoptik, Kondex Corporation, LaserBond Limited, LaserStar Technologies Corporation are some of the major industry contenders.