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• Posted By : Ravi Thakre
• Posted On : May 26, 2023
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• Category : Business
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• Location : Pune, Maharashtra, India

Overview

• 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 the latest analysis by Emergen Research. The rising trend of switching from conventional laser to laser cladding technologies is the key factor driving market revenue growth. The report, Global Laser Cladding Market Research Report and Forecast to 2030, provides a detailed analysis of the global Laser Cladding market, including market size, market share, current and future trends, and the most recent technological breakthroughs. The research provides information on the regional and global competitive landscape of the Laser Cladding market, along with a complete prognosis through 2030. The impact of the COVID-19 epidemic on the market for Laser Cladding has been updated in the most recent research. It examines the impact of the epidemic on each region's political and economic systems. It presents a present and projected view of the pandemic's effects on supply chain disruptions and economic volatility. For many years, laser cladding has been utilized in a wide range of sectors to improve the 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 transfer arc (PTA) welding, in the present day. Laser cladding enables power densities not normally feasible with conventional thermal techniques, resulting in minimal heat input, minimal deformation, and the avoidance of post-weld heat treatments. In addition, the growing adoption of laser cladding technologies over conventional lasers is expected to drive revenue growth in the market. Various companies are introducing advanced laser cladding technologies to 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. To receive a sample copy of this report, visit @ https://www.emergenresearch.com/request-sample/1289 The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report. The leading market contenders listed 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 Target Audience of the Global Laser Cladding Market Report: Key Market Players Investors Venture capitalists Small- and medium-sized and large enterprises Third-party knowledge providers Value-Added Resellers (VARs) Global market producers, distributors, traders, and suppliers Research organizations, consulting companies, and various alliances interested in this sector Government bodies, independent regulatory authorities, and policymakers Get a discount on the Global Laser Cladding Market report @ https://www.emergenresearch.com/request-discount/1289 Major Geographies Analyzed in the Report: North America (U.S., Canada) Europe (U.K., Italy, Germany, France, Rest of EU) Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC) Latin America (Chile, Brazil, Argentina, Rest of Latin America) Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA) Market Segmentations of the Laser Cladding Market This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2030. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Laser Cladding market on the basis of product, application, and region: Segments Covered in this report are: 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 Browse Full Report Description + Research Methodology + Table of Content + Infographics @ https://www.emergenresearch.com/industry-report/laser-cladding-market Some 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. 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. Additional information offered by the report: Along with a complete overview of the global Laser Cladding market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels. The report elaborates on the global Laser Cladding market size and share governed by the major geographies. It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators. It further presents a detailed description of the company profiles of the key market contenders. Request Customization as per your specific requirement@ https://www.emergenresearch.com/request-history/1289 Thank you for reading our report. Customization of the report is available according to the requirements of our clients. Kindly get in touch with us to know more about the customization options, and our team will ensure the report is tailored according to your needs. 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