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Laser Welding Machine Market Size
- Report ID: GMI6065
- Published Date: Jul 2024
- Report Format: PDF
Laser Welding Machine Market Size
Laser Welding Machine Market was valued at around USD 2.49 billion in 2023 and is anticipated to register a CAGR of 5.5% between 2024 to 2032, due to their high accuracy welding capabilities which is ideal in various industry applications. Laser welding’s are faster than the traditional welding machines and can be used on wide range of materials such as metals, plastics. The welds by laser welding are often very high quality and produces less emissions and pollutants as compared to traditional welding machines. Thus, making laser welding an environment sustainable machine.
The laser welding machine market is growing due to the increased demand in industries such as automotive & aerospace and defense. Manufactures in these industries are focusing on working materials like aluminum and steel to produce light weight and added features vehicles which requires precision cutting and welding to avoid any mistakes. Laser welding machines are preferred due to their ability to give high precise welds result.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Laser Welding Machine Market Size in 2023: | USD 2,49 Million |
| Forecast Period: | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR: | 5.5 % |
| 2024 – 2032 Value Projection: | USD 4.11 Billion |
| Historical Data for: | 2021 – 2023 |
| No. of Pages: | 340 |
| Tables, Charts & Figures: | 531 |
| Segments covered: | Technology, end use |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Additionally, there is a rise of EV vehicles production where Laser welding plays an important role in manufacturing the critical components such as battery and other components like engines and base of the vehicle. Moreover, Automotive industry also requires high automated tools for production purposes. Laser welding machines can be equipped with automated machines, and this can help to fasten the automated production process improving the overall efficiency of an industry.
The high initial costs and maintenance costs associated with the laser welding machine is a significant challenge for the manufacturers as well as industries. This high cost is a barrier for small scale industries who have budget concerns and are not able to upgrade the technologies and equipment’s used. Additionally, the maintenance costs of laser welding are also high overall increasing the operational costs of various industries. Despite all the pro’s laser welding offers these factors may result in lower adoption among industries.
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Laser Welding Machine Market Scope
