Global Laser Cladding Market to reach USD 929.32 million by 2027.Global Laser cladding Market is valued approximately at USD 441.50 Million in 2020 and is anticipated to grow with a healthy growth rate of more than 9.8% over the forecast period 2021-2027. Laser cladding is a process of metal coating which is applied into the surface of part using a laser as the heat source in industrial purpose. The global Laser cladding market is being driven by growing penetration of fiber lasers in laser cladding applications., Increasing requirement across additive manufacturing and rapid manufacturing and gradual transition from conventional laser technologies to laser cladding. Furthermore, adoption of laser cladding applications across aviation and automotive industries and development of advanced laser cladding solutions, will provide new opportunities for the global Laser cladding industry. For instance, according to statista, there has been rise in sales generated from the sales of automobile in year 2020 the sales reached at USD 2755 billion, and it is projected to reached at USD 3027 billion by year 2025. As a result, increased automotive demand will necessitate the use of more laser cladding in the manufacturing of different automobile parts, which will serve as a catalyst for the Laser cladding industry in the future. However, high deployment costs and lack of personnel with required technical expertise and environmental concerns over use of rare earth elements, may impede market growth over the forecast period of 2021-2027.

Asia Pacific, North America, Europe, Latin America, and Rest of the World are the key region considered for the regional analysis of global cladding market. The rise in adoption of laser processing solutions makes Asia Pacific is the significant region across the world in terms of market share. Whereas North America is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to rising initiatives by government and private-funded startups for the deployment of laser cladding application in the region.

Major market player included in this report are:
Trumpf Group
OC Orelikon Group
Coherent Inc.
IPG Photonics
Han's Laser Technology Co., Ltd
Hoganas AB
Lumibird
Lumentum Operations LLC
Curtiss-wright corporation
Jenoptik AG

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Diode laser
Fiber Laser
Yag Laser
CO2 Laser
Others
By Revenue :
Laser Revenue
System Revenue
By Material:
Cobalt-based alloys
Nickel-based alloys
Iron-based alloys
Carbides & carbide blends
By End-use:
Oil & gas
Mining
Aerospace & defence
Automotive
Power generation
Others


By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global Laser Cladding Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors