Global Laser Welding Machine Market 2018-2022
About this market
Laser welding offers several technical advantages, such as deep narrow welds, minimal distortion, and ease of automation, over conventional welding procedures. One of the key advantages of laser welding is its ability to automate the welding process, which helps in increasing the overall production rates. Although laser systems, in general, are more expensive than traditional methods, the cost savings achieved through higher production and lower reject rates almost nullify the additional cost incurred during the purchase of the laser welding systems. At present, laser welding is used in numerous different fields, from highly precise micro-welding of medical devices, to small-scale manual welding in the dental and jewelry industries, via manufacture and repair of tools and dies to fully automated laser welding in the automotive and heavy manufacturing sectors. Technavio’s analysts have predicted that the laser welding machine market will register a CAGR of more than 5% by 2022.
Growing demand from wind farms
With the rise in offshore wind farms the demand for efficient welding has increased. In comparison to onshore wind farms offshore wind farms are large and are under higher fatigue load owing to high-speed winds. lower temperature and corrosion. With the increase in demand for wind farms particularly offshore farms there will be an increase in demand for installing wind towers which will in turn drive the demand for laser welding machines.
Dearth of skilled labor
Labor is the highest cost-consuming component of welding the lack of skilled workforce is fast becoming a major challenge for the global laser welding machine market and this challenge is spreading in countries such as the US, India, and China which constitute a hub for cheap labor.
For the detailed list of factors that will drive and challenge the growth of the laser welding machine market during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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