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.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.
The Laser Cladding market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Laser Cladding market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Laser Cladding market.
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Historical data available in the report elaborates on the development of the Laser Cladding on national, regional and international levels. Laser Cladding market Research Report presents a detailed analysis based on the thorough research of the overall market, particularly on questions that border on the market size, growth scenario, potential opportunities, operation landscape, trend analysis, and competitive analysis.
Some Key Highlights
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.
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.
The report further studies the key companies operating in the industry and their company profiles, product portfolio, expansion strategies, and strategic alliances such as mergers and acquisitions, collaborations, and joint ventures, among others. It also offers insights into their market reach and global position, along with highlights about their achievements and financial standings.
Major Players/Manufacturers profiled in the report are:
OC Oerlikon Management AG, TRUMPF, IPG Photonics Corporation, Coherent, Inc., Höganäs AB, Curtiss-Wright Corporation, Laserline GmbH, Titanova, Inc., Hardchrome Engineering, and LaserBond Ltd.
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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)
Materials Outlook (Revenue, USD Million; 2019-2030)
Carbides & carbide blends
Revenue Outlook (Revenue, USD Million; 2019-2030)
End-use Outlook (Revenue, USD Million; 2019-2030)
Oil & gas
Aerospace & defense
Using secondary sources such as company websites, annual reports, press releases, financial data, investor presentations, articles, news, white papers, certified publications, and government publishing sources as a starting point for the research methodology used to estimate and forecast the size of the Global Laser Cladding Market. In addition, the research takes into account vendor offers in order to categorise the market.
Using this data, the research then calculates the size of the global Laser Cladding market using a bottom-up approach. Primary research included thorough interviews with senior executives, chief executive officers, and directors, as well as vice presidents (VPs) and managers to determine the size of the market. These categories and sub-segments were then confirmed and validated by secondary research. Data triangulation processes are then used to complete the total market engineering process and arrive at precise statistics for all segments and sub-segments
Major Regions Covered in the Laser Cladding Market Report:
Middle East & Africa
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Our report offers:
– Market share assessments for the regional and country level segments.
– Market share analysis of the top industry players.
– Strategic recommendations for the new entrants.
– Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets.
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations).
– Strategic recommendations in key business segments based on the market estimations.
– Competitive landscaping mapping the key common trends.
– Company profiling with detailed strategies, financials, and recent developments.
– Supply chain trends mapping the latest technological advancements.
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