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Laser Welding Machine Market to Grow by USD 504.4 Million from 2024-2028, Driven by Advantages over Conventional Welding and AI-Driven Market Transformation – Technavio

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NEW YORK, Nov. 5, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global laser welding machine market size is estimated to grow by USD 504.4 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.5% during the forecast period. Growing benefits of laser welding over conventional welding is driving market growth, with a trend towards impact of additive manufacturing on laser welding. However, dearth of skilled labor poses a challenge. Key market players include Amada Co. Ltd., Bystronic Laser AG, Coherent Corp., Emerson Electric Co., FANUC Corp., Hans Laser Technology Industry Group Co. Ltd., HGLaser Engineering Co. Ltd., IPG Photonics Corp., Jenoptik AG, Jinan Xintian Technology Co. Ltd., Laserline GmbH, Laserstar Technologies Corp., OREE LASER, Perfect Laser Co. Ltd., Sahajanand Laser Technology Ltd., SCANLAB GmbH, Suzhou Prato Laser Technology Co. Ltd., Suzhou Tianhong Laser Co. Ltd., TRUMPF SE Co. KG, and Wuhan golden laser co. Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

End-user (Automotive, Healthcare, Aerospace and defense, Electronics, and Others), Technology (Fiber laser, Solid-state laser, CO2 laser, and Others), and Geography (APAC, Europe, North America, South America, and Middle East and Africa)

Region Covered

APAC, Europe, North America, South America, and Middle East and Africa

Key companies profiled

Amada Co. Ltd., Bystronic Laser AG, Coherent Corp., Emerson Electric Co., FANUC Corp., Hans Laser Technology Industry Group Co. Ltd., HGLaser Engineering Co. Ltd., IPG Photonics Corp., Jenoptik AG, Jinan Xintian Technology Co. Ltd., Laserline GmbH, Laserstar Technologies Corp., OREE LASER, Perfect Laser Co. Ltd., Sahajanand Laser Technology Ltd., SCANLAB GmbH, Suzhou Prato Laser Technology Co. Ltd., Suzhou Tianhong Laser Co. Ltd., TRUMPF SE Co. KG, and Wuhan golden laser co. Ltd.

Key Market Trends Fueling Growth

Additive manufacturing, also known as 3D printing, is revolutionizing the manufacturing industry by creating three-dimensional objects from digital files. This process builds products layer by layer, enabling the production of complex geometries that are challenging to achieve through conventional methods. Additive manufacturing offers benefits such as optimized material usage and reduced wastage, as it eliminates the need for certain manufacturing processes like cutting, bending, and welding. However, additive manufacturing has limitations, including the inability to produce large single parts efficiently and high equipment costs, which may hinder its adoption in small and medium enterprises. Despite these challenges, continuous research and development efforts are driving improvements in additive manufacturing technology, increasing its adoption, and creating demand for laser welding machines. In laser welding applications, precise control over shape frequency, sequence, and depth of focus optimizes capillary evaporation, molten pool flow, and melt solidification, preventing pore, spatter, and crack formation while boosting feed rates and speeds. Although additive manufacturing poses a challenge to the global laser welding machine market by eliminating the need for welding in some applications, it cannot replace welding entirely. The laser welding machine market will continue to grow due to the increasing adoption of additive manufacturing and the ongoing need for traditional welding processes. 

The Laser Welding Machine market is experiencing significant growth due to increasing demand in various industries. Fiber optic cables, transmitters, and components in confined spaces and complex geometries are driving the need for laser welding in hazardous environments. Fiber lasers, CO2 lasers, and diode lasers offer efficiency, safety, and versatility in welding diverse materials like carbon steel, stainless steel, plastics, and ceramics. Laser welding machines provide controlled heat input, reducing material wastage, rework, and improving quality control. Traditional welding methods face challenges in energy efficiency, waste, and environmental impact. Laser welding machines offer energy conservation, sustainability, and a smaller carbon footprint, making them more cost-effective in the long run. Regulations on energy consumption and environmental friendliness further boost the market. The tool’s productivity and long-term cost-effectiveness make it a preferred choice for industries. 

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Market Challenges

The global laser welding machine market is experiencing a significant challenge due to the scarcity of skilled labor, particularly in countries like the US, India, China, and Germany. In these countries, which are known for their large labor pools and manufacturing industries, the lack of a skilled workforce is becoming a major concern. For instance, China, the world’s manufacturing hub, is facing a declining working-age population, and India is expanding its manufacturing sector under the Make in India initiative. In Germany, a prominent manufacturing nation, the demographic shift with low birth rates and an aging population is reducing the availability of a skilled workforce, leading to a predicted gap of one million skilled staff by 2022. Consequently, labor costs are increasing in Germany, making their industries less competitive in the global manufacturing landscape. The limited availability of skilled labor is a significant barrier to the growth of the global laser welding machine market during the forecast period.The laser welding machine market is experiencing significant growth due to the advantages it offers over traditional welding methods. Energy efficiency is a key factor, as laser welding consumes less energy and produces less waste, making it more environmentally-friendly and sustainable. Regulations demanding energy conservation and reduced carbon footprint also drive the trend towards laser welding. However, challenges include incompatibility with highly reflective materials, absorption issues with certain metals like copper and aluminum, and the high cost of the machines and tools. Long-term cost-effectiveness, productivity, and quality control are major considerations. The integration of automation, robotics, advanced control systems, automated loading, and positioning of workpieces enhances productivity, repeatability, and precision. The forecast period sees trends in remote laser welding and the automotive and aerospace manufacturing sectors.

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Segment Overview 

This laser welding machine market report extensively covers market segmentation by

End-user 1.1 Automotive1.2 Healthcare1.3 Aerospace and defense1.4 Electronics1.5 OthersTechnology 2.1 Fiber laser2.2 Solid-state laser2.3 CO2 laser2.4 OthersGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Automotive- The automotive industry heavily relies on laser welding due to its precision and efficiency. This method allows automakers to join metal components with minimal distortion, resulting in strong and durable welds. Its effectiveness is particularly notable for lightweight materials like aluminum, commonly used in modern vehicles for improved fuel efficiency. Laser welding is suitable for various automobile components, including body panels, chassis parts, exhaust systems, and battery packs in electric vehicles. Compared to traditional welding techniques, it expedites production while being less costly. High-precision laser welding ensures and dependable welds, essential for vehicle component structural integrity. The process is quick and automated, decreasing production time and enhancing overall manufacturing efficiency. Laser welding’s small heat-affected zones minimize part deformation, preserving dimensional accuracy. Versatile in connection configurations and material compatibility, laser welding eliminates filler materials, reducing welding flaws and enhancing safety. Long-term cost savings come from increased production speed, lower material wastage, and reduced maintenance requirements, despite potential higher initial investments. With the increasing demand for electric vehicles, such as the Australian government’s goal to have 75% electric vehicles by 2025, the need for laser welding machines is evident, driving the growth of the global laser welding machine market in the automotive sector.

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Research Analysis

Laser welding machines utilize a high-intensity laser beam to join and fuse materials, offering several advantages over traditional welding methods. These machines are known for their energy efficiency, as they minimize material wastage and reduce the need for rework. The process is also more environmentally-friendly, with lower carbon footprint and compliance with regulations. Energy conservation is a significant benefit, as laser welding consumes less energy compared to other welding techniques. However, the cost of laser welding machines can be high, and their integration with automation and robotics requires a significant investment. Incompatibility with highly reflective materials and the need for absorption coatings for some metals like copper and aluminum are challenges. Despite these, the long-term cost-effectiveness, productivity, and high-precision capabilities make laser welding machines an essential tool in manufacturing and fabrication processes.

Market Research Overview

Laser welding machines utilize high-intensity laser beams to join and fuse materials with precision and efficiency, surpassing traditional welding methods. These machines offer several advantages such as energy efficiency, reduced waste, and environmental sustainability. By conserving energy and minimizing material wastage, laser welding contributes to a smaller carbon footprint. However, regulations and increasing focus on long-term cost-effectiveness drive the adoption of these machines in manufacturing and fabrication processes. Laser welding processes are ideal for high-precision, intricate welds and are compatible with a wide range of materials including copper, aluminum, and various alloys. Incompatibility with highly reflective materials is a challenge, but advancements in absorption technologies continue to expand the application scope. The forecast period for the laser welding market is promising, with trends in automotive, aerospace, and other industries driving growth. Integration of robotics, automation, and advanced control systems enhances productivity, repeatability, and precision. Remote laser welding, fiber optic cables, and applications in confined spaces, complex geometries, and hazardous environments further expand the market. Fiber lasers, CO2 lasers, and diode lasers are the primary types of lasers used in laser welding, each with its unique advantages. Plastic welding, controlled heat input, and versatility in welding diverse materials like carbon steel, stainless steel, plastics, and ceramics further expand the market potential.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userAutomotiveHealthcareAerospace And DefenseElectronicsOthersTechnologyFiber LaserSolid-state LaserCO2 LaserOthersGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Cineverse Appoints Rey Puentenegra as Vice President, Corporate Controller

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LOS ANGELES, Nov. 5, 2024 /PRNewswire/ — Cineverse (NASDAQ: CNVS), an innovative streaming entertainment and technology company, today announced that it has hired Rey Puentenegra as Vice President, Corporate Controller. Leveraging over 20 years of combined experience across the Industry, Audit and Regulatory Sectors, Puentenegra will oversee all financial and accounting functions across Cineverse’s entire business. He will manage day-to-day operations of the accounting department while taking ownership of corporate accounting, regulatory and financial reporting, audit preparation, and the continual development of internal control policies and procedures. Puentenegra’s appointment is effective immediately, and he will report directly to Mark Lindsey, Chief Financial Officer of Cineverse.

For more than two decades, Puentenegra has been responsible for financial and accounting management, SEC reporting and technical accounting, IPO and SPAC consulting, and process systems implementation and optimization across public and private companies, Big 4 accounting firms, and the Public Company Accounting Oversight Board (PCAOB). Prior to joining Cineverse, Puentenegra served as Controller at YOUNGLA, a fitness and lifestyle apparel e-commerce company, where he oversaw the finance and accounting team as well as managed an outside accounting firm and the company’s primary banking relationship. He was responsible for developing and implementing the initial finance operations structure in addition to the company’s Enterprise Resource Planning. Throughout his career, Puentenegra has served in finance and accounting roles for KPMG, PricewaterhouseCoopers (PwC), Reading International, Global Eagle Entertainment, Corporate Finance Group, XOS, and Spatial Genomics. As Inspections Specialist at PCAOB, he inspected the audits of the Big 4 and mid-tier firms in both the U.S. and foreign jurisdictions.

In connection with his joining the Company, Puentenegra received stock appreciation rights (the “SARs”) for 85,000 shares of Cineverse’s Class A Common Stock (the “Common Stock”), having a ten-year term and an exercise price equal to $2.74, and vesting 1/3 on November 4 of each of 2025, 2026 and 2027. The grant of SARs is an inducement grant pursuant to NASDAQ listing Rule 5635(c)(4).

ABOUT CINEVERSE

On a mission to uplift storytellers and entertain fans with the power of technology, Cineverse  (NASDAQ: CNVS) distributes over 71,000 premium films, series, and podcasts. Engaging over 150 million unique monthly users, Cineverse delivers more than one billion minutes of curated content each month – connecting fans with stories that resonate.

With properties like the box office sensation, Terrifier 3, iconic horror destination, Bloody Disgusting, the Bob Ross Channel, women’s entertainment channel Dove, and a leading podcast network, Cineverse is the first stop for audiences seeking authentic and experiential content. From a vibrant lineup of titles and fandom channels, to next-gen advertising offerings and streaming solutions, Cineverse is setting the stage for a new era of entertainment.

Contacts:

For Media
The Lippin Group for Cineverse, cineverse@lippingroup.com

For Investors
Julie Milstead, investorrelations@cineverse.com

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SOURCE Cineverse Corp.

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Cboe Global Markets Reports Trading Volume for October 2024

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CHICAGO, Nov. 5, 2024 /PRNewswire/ — Cboe Global Markets, Inc. (Cboe: CBOE), the world’s leading derivatives and securities exchange network, today reported October monthly trading volume statistics across its global business lines.

The data sheet “Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report” contains an overview of certain October trading statistics and market share by business segment, volume in select index products, and RPC/net capture, which is reported on a one-month lag, across business lines.

Average Daily Trading Volume (ADV) by Month

Year-To-Date

Oct

2024

Oct

2023

%

Chg

Sep
 2024

%

Chg

Oct

2024

Oct

2023

Chg

Multiply-listed options (contracts, k)

10,793

11,230

-3.9 %

10,459

3.2 %

10,610

10,885

-2.5 %

Index options (contracts, k)

3,976

4,534

-12.3 %

4,130

-3.7 %

4,097

3,765

8.8 %

Futures (contracts, k)

187

292

-36.0 %

232

-19.6 %

243

227

6.7 %

U.S. Equities – On-Exchange (matched shares, mn)

1,289

1,376

-6.4 %

1,234

4.4 %

1,360

1,396

-2.6 %

U.S. Equities – Off-Exchange (matched shares, mn)1

77

81

-5.6 %

85

-9.1 %

78

81

-2.8 %

Canadian Equities (matched shares, k)

158,622

137,305

15.5 %

148,628

6.7 %

145,790

134,538

8.4 %

European Equities (€, mn)

10,534

9,277

13.6 %

10,121

4.1 %

9,681

9,498

1.9 %

Cboe Clear Europe Cleared Trades2 (k)

117,528

100,398

17.1 %

102,208

15.0 %

1,017,755

990,488

2.8 %

Cboe Clear Europe Net Settlements2 (k)

1,042

873

19.4 %

943

10.5 %

9,278

8,406

10.4 %

Australian Equities (AUD, mn)

777

719

8.0 %

891

-12.8 %

788

699

12.7 %

Japanese Equities (JPY, bn)

288

196

47.0 %

312

-7.5 %

315

174

80.5 %

Global FX ($, mn)

44,373

47,933

-7.4 %

48,096

-7.7 %

46,805

44,363

5.5 %

1 U.S. Equities – Off-Exchange ATS Block metrics restated to incorporate a tier of sell-side activity from July 2023 and forward, previously excluded from reporting.
2 Cboe Clear Europe figures are totals (not ADV) for the months and years-to-date. Asa of April 2023, data has been restated to reflect both On-Book and Off-Book cleared trades.

October 2024 Trading Volume Highlights

Cboe Europe

Cboe Europe Periodic Auctions reported a record average daily notional value (ADNV) of €2.5 billion, beating the previous record of €2.4 billion in September 2024.Cboe Clear Europe processed 117.5 million client trades in October, its highest monthly volumes in 2024. Additionally, it cleared its first trades on Deutsche Börse, introducing competitive clearing to the German market.

About Cboe Global Markets

Cboe Global Markets (Cboe: CBOE), the world’s leading derivatives and securities exchange network, delivers cutting-edge trading, clearing and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives and FX across North America, Europe and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more about the Exchange for the World Stage, visit www.cboe.com.

 

Cboe Media Contacts

   Cboe Analyst Contact

Angela Tu 

Tim Cave

Kenneth Hill, CFA 

+1-646-856-8734 

+44 (0) 7593-506-719

+1-312-786-7559 

atu@cboe.com

tcave@cboe.com

khill@cboe.com

 

CBOE-V

Cboe®, Cboe Global Markets®, Cboe Volatility Index®, and VIX® are registered trademarks of Cboe Exchange, Inc. or its affiliates. Standard & Poor’s®, S&P®, SPX®, and S&P 500® are registered trademarks of Standard & Poor’s Financial Services, LLC, and have been licensed for use by Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.

Any products that have the S&P Index or Indexes as their underlying interest are not sponsored, endorsed, sold or promoted by Standard & Poor’s or Cboe and neither Standard & Poor’s nor Cboe make any representations or recommendations concerning the advisability of investing in products that have S&P indexes as their underlying interests. All other trademarks and service marks are the property of their respective owners.

Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.

Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.

Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release.

There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: https://www.cboe.com/us_disclaimers/

Options involve risk and are not suitable for all market participants. Prior to buying or selling an option, a person should review the Characteristics and Risks of Standardized Options (ODD), which is required to be provided to all such persons. Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606. 

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SOURCE Cboe Global Markets, Inc.

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Patrick Industries to Participate in Upcoming Baird Conference

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ELKHART, Ind., Nov. 5, 2024 /PRNewswire/ — Patrick Industries, Inc. (NASDAQ: PATK) (“Patrick” or the “Company”), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, will participate in Baird’s 2024 Global Industrial Conference on November 12, 2024.

Andy Nemeth, Chief Executive Officer, and Kip Ellis, President – Powersports, Technology and Housing, will participate in a fireside chat as well as engage in one-on-one meetings with institutional investors and analysts. The conference will be held at the Ritz-Carlton in Chicago.

Please contact Baird for attendance information and additional details. 

About Patrick Industries, Inc. 
Patrick (NASDAQ: PATK) is a leading component solutions provider serving the RV, Marine, Powersports and Housing markets. Since 1959, Patrick has empowered manufacturers and outdoor enthusiasts to achieve next-level recreation experiences. Our customer-focused approach brings together design, manufacturing, distribution, and transportation in a full solutions model that defines us as a trusted partner. Patrick is home to more than 85 leading brands, all united by a commitment to quality, customer service, and innovation. Headquartered in Elkhart, IN, Patrick employs approximately 10,000 skilled team members throughout the United States. For more information on Patrick, our brands, and products, please visit www.patrickind.com

Forward-Looking Statements  
This press release contains certain statements related to future results, our intentions, beliefs and expectations or predictions for the future, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any projections of financial performance or statements concerning expectations as to future developments should not be construed in any manner as a guarantee that such results or developments will, in fact, occur. There can be no assurance that any forward-looking statement will be realized or that actual results will not be significantly different from that set forth in such forward-looking statement. Information about certain risks that could affect our business and cause actual results to differ from those expressed or implied in the forward-looking statements are contained in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and in the Company’s Forms 10-Q for subsequent quarterly periods, which are filed with the Securities and Exchange Commission (“SEC”) and are available on the SEC’s website at www.sec.gov. Each forward-looking statement speaks only as of the date of this press release, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date on which it is made. 

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SOURCE Patrick Industries, Inc.

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