Technology

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

Published

3 weeks ago

November 5, 2024

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

Technology

PASHA Holding forges global connections at COP29

Published

1 hour ago

November 23, 2024

BAKU, Azerbaijan, Nov. 23, 2024 /PRNewswire/ — PASHA Holding, a leading Azerbaijani company, successfully participated at COP29, reaffirming its dedication to climate action. As an Impact Partner at the event, PASHA Holding actively engaged in meaningful discussions, collaborated with global stakeholders, and shared its vision for a sustainable future.

The holding’s presence included a tailored booth in the Green Zone, alongside multiple thought-provoking sessions led by PASHA Holding companies, including PASHA Bank, Kapital Bank, PASHA Insurance, PASHA Life, AgroDairy, and PASHA Real Estate. These sessions addressed critical issues such as climate finance, sustainable agriculture, and the role of private sector leadership in fostering inclusive green transitions.

Through its participation, PASHA Holding leveraged the opportunity to exchange ideas, build relationships with regional and global peers, and learn from diverse experiences in tackling climate challenges. By engaging with stakeholders from government, international organizations, and the private sector, PASHA Holding enhanced its capacity to drive sustainable development initiatives in Azerbaijan and beyond.

Aytaj Mukhtazada, Head of PR and Communications at PASHA Holding, remarked:

“COP29 has been an extraordinary platform for us to amplify our sustainability vision and forge valuable connections. The insights gained and partnerships established here will enable us to align our strategies with global climate objectives while addressing the unique needs of our region. This experience underscores the importance of collaboration in creating impactful, long-term solutions to the challenges we all face.”

Key elements of PASHA Holding’s sustainability strategy include minimizing the environmental impact of its own operations, investing in projects that support the transition to net zero, and investing in technological innovation to address the challenges presented by climate change. In the near future, the group plans to conduct comprehensive diagnostics and gap analysis across its subsidiaries to set specific goals to decrease our carbon footprint, including supply chain, support the customers in their transition journeys and increase investments in green initiatives. Additionally, PASHA is committed to empowering its stakeholders through education and collaboration, ensuring that sustainability is embedded across the wider economy. These plans include supporting the development of a sustainable SME landscape in the country, aiding farmers in their green transition, and supporting innovation for developing decarbonization solutions.

View original content to download multimedia:https://www.prnewswire.com/news-releases/pasha-holding-forges-global-connections-at-cop29-302314735.html

SOURCE PASHA Holding

Technology

Global Times: China vows to promote steady growth of foreign trade

Published

2 hours ago

November 23, 2024

BEIJING, Nov. 23, 2024 /PRNewswire/ — Officials from five Chinese departments including the Ministry of Commerce (MOFCOM), the Ministry of Foreign Affairs and the People’s Bank of China vowed to promote the steady growth of foreign trade at a press conference held on Friday in a move experts said is part of a package of policy measures to inject impetus and confidence into stabilizing the economy and help realize its annual economic targets.

Meanwhile, at the same press conference, the vice commerce minister highlighted China’s capacity in dealing with external shocks in the first explicit, publicly known response by a senior commerce official to the impact of the US’ potential 60 percent tariffs on Chinese imports. He stressed tariffs will only lead to high costs for consumers, and a stable, healthy and sustainable development of China-US economic and trade relations will benefit peoples of both countries and the world.

The press conference came after MOFCOM, together with the Ministry of Foreign Affairs, the Ministry of Industry and Information Technology, the People’s Bank of China and the General Administration of Customs rolled out nine measures to support foreign trade, involving support and guidance in insurance, financing, cross-border trade settlement, expanding scope on imports and exports, optimization of trade structure, visa facilitation and transportation.

Analysts noted that the latest move will further enhance the confidence of Chinese foreign trade enterprises, thereby injecting a stable and strong impetus to economic development, helping the country navigate the complexities of the global market.

Policy support

During the press conference, Chinese Vice Commerce Minister Wang Shouwen noted that the policy is aimed at responding to changes in the international trade situation and promoting solutions to practical difficulties faced by foreign trade enterprises in financing and maritime transport.

The raft of policy measures aimed at promoting the steady growth of foreign trade was deliberated and adopted by a State Council executive meeting on November 8.

The Ministry of Commerce on Thursday unveiled the policy measures in a notice. Among the nine specific measures, financial institutions are encouraged to increase financing support for micro, small and medium-sized companies based on market-oriented and law-based principles.

Efforts should be made to optimize cross-border trade settlement, promote the development of cross-border e-commerce, expand agricultural product exports, and support the imports of key equipment and energy resources, said the notice.

The overall situation of China’s foreign trade is relatively optimistic, but at the same time we should also see that uncertainties continue to accumulate. Maintaining stable growth in foreign trade and sustained improvement in competitiveness cannot be separated from policy support, Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, said on Friday.

“The timely joint efforts by five Chinese departments enhanced the confidence and expectations of Chinese foreign trade enterprises, and the measures will effectively help address problems of current foreign trade and future uncertainties,” Li Yong, a senior research fellow at the China Association of International Trade, told the Global Times on Friday.

Stable growth in foreign trade can provide more impetus for the domestic economy. The nine measures are part of a package of policy measures to inject growth momentum and confidence into stabilizing the economy, which will help realize the country’s annual economic targets, Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, said on Friday.

“Consumption, investment, exports and market sentiment all improved in October, and this trend is highly likely to continue in the last two months of the year, as the confidence of enterprises and consumers has been shored up thanks to the support policies,” Wang Peng told the Global Times.

Resilient against external shocks

At the press conference on Friday, Wang Shouwen also stressed that China has the capacity in dealing with external shocks largely owing to its resilient and vibrant economy that has great potential in a response to a question on the impact of the US’ potential 60 percent tariffs on Chinese imports.

China is building a “dual circulation” development pattern, which takes the domestic market as the mainstay while allowing domestic and international markets to reinforce each other. We are capable of resolving and withstanding the impact of external shocks, the official told reporters.

Wang Shouwen noted that history has also shown that the imposition of tariffs on China by a country does not solve the problem of its own trade deficit, on the contrary, it pushes up the prices of the country’s imports from China as well as from other countries.

This is because the tariffs are ultimately paid for by the consumers and the end-users of the importing country, which inevitably leads to an increase in the prices paid by consumers and an increase in the costs to the users, which also leads to inflation, the vice commerce minister further elaborated.

The vice commerce minister said that China and the US are the two largest economies in the world, and have strong complementarities. We believe that if China and the US can maintain a stable, healthy and sustainable development trend in their economic and trade relations, it will be beneficial to both the Chinese people and the American people, as well as the people of all countries in the world, and this is also what the international community expects, he said.

China is willing to engage in dialogue with the US on the basis of the principles of mutual respect, peaceful coexistence and win-win cooperation, in a bid to expand areas of cooperation, manage differences, and promote the stability of the bilateral trade and economic and trade relationship, Wang Shouwen said, noting that China will also firmly safeguard its own sovereignty, security and development interests.

Chinese companies have advantages in ordering, transportation, warehousing and other export-related areas that are difficult for other countries to replace, due to their complete supply chain and high production efficiency, Li said.

“Moreover, the country’s economic resilience provides enough market size to address some of the external risks. In particular, China has continued to promote new dynamics in foreign trade and new quality productive forces, which will cultivate new international competitive advantages,” Li noted.

“Years of China-US trade and investment have made the two sides interdependent. In addition to providing US consumers with cost-effective products, China’s exports of its intermediate products have become embedded in the US supply chain and have become part of the competitiveness of many US industries,” Li said, noting that the US needs to maintain rationality in its economic and trade policy toward China.

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SOURCE Global Times

Technology

ZICC: Closer China- Honduras Ties

Published

2 hours ago

November 23, 2024

BEIJING, Nov. 23, 2024 /PRNewswire/ — Renato Florentino, vice president of Honduras, accepted an exclusive interview with ZICC in Wuzhen during the 2024 World Internet Conference Wuzhen Summit. He said that China’s advancements in transportation, communication, and computing impressed him a lot. “We hope to continue to promote the cooperation between Honduras and China and maintain close cooperative relations,” he said.

SOURCE ZICC