The laser cladding market is estimated to be valued at USD 483 million in 2021; it is expected to grow at a CAGR of 9.6% during 2021–2026 to reach USD 823 million by 2026
Over the years, new and more advanced variants of laser cladding technology have emerged, especially the extreme high-speed laser application (EHLA). EHLA is a novel technology born from laser cladding (also known as laser metal deposition (LMD) or directed energy deposition – laser beam (DED-LB)).
New York, Oct. 07, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Laser Cladding Market with COVID-19 Impact by Type, Revenue, End-use Industry And Region - Global Forecast to 2026" - https://www.reportlinker.com/p06169599/?utm_source=GNW
Fraunhofer ILT has developed EHLA as an advanced form of laser cladding, a replacement for chrome plating, and an alternative to spraying technologies. EHLA coatings can be applied to small and large components at speeds 10–100x times faster than laser cladding.
Laser cladding is perceived as one of the more sophisticated industrial laser applications, requiring special skills.There is a limited number of people across the globe who have developed these skills and a limited number of suppliers that provide laser cladding equipment.
In the automotive industry, the valves of a non-commercial vehicle are subject to 300 to 500 million thermal and mechanical cycles throughout the life of an automobile, and an exhaust valve is subject to a stream of hot gas that may contain soot particles and corrosive constituents.In the early days of laser technology, numerous research facilities showed pictures of laser-clad valves in their publications and literature.
However, not many of them were put into production or commercialized.The chief reason for this lack of market penetration is the availability of less expensive equipment for coating valves using plasma transferred arc (PTA) welding, which produces deposits with low levels of dilution.
However, in the long run, laser cladding would prove more economical and successful than traditional laser technologies such as cutting, welding, and others.
Fiber lasers: The fastest type of laser cladding market .
Fiber laser is a type of solid laser where the active media is the core of rare earth metals (Er, Yb, and a few others) and doped fiber, which is typically single-mode silica fiber.This doped fiber has a cavity mirror at each end or fiber Bragg gratings, which can be fabricated within the fiber.
The fiber’s central core is responsible for the emission of laser light, and its structure varies from simple to fairly complex.Hence, fiber lasers can be compact and rugged.
A fiber laser has a large surface-to-volume ratio, and hence, heat dissipation is relatively easy. This laser is comparatively smaller and lighter in weight than traditional lasers, which helps save space. Also, there is no requirement for precise alignment of mirrors, which makes it capable of operating in variable working environments and enables ease of transportation
System revenue: The largest revenue of the laser cladding market .
The system revenue segment is likely to continue holding a larger market share during the forecast period. The leading position of this segment can be attributed to the ability of these systems to perform a wide range of functions, which expands their utility across several end-use industries, such as oil & gas, mining, automotive, and aviation
*Oil & gas: Largest growing end-use industry of laser cladding market*
In the oil & gas industry, laser cladding is a widely used technology for exploration, drilling, corrosion resistance, and a broad range of hard-facing applications. It is commonly used in oil refinery process plants, downhole stabilizers, valve balls/seats, sand valves, and hydraulic rods.
Laser cladding can be used to add specific beneficial properties to the surface of key components such as bearings and bearing bushes, compressor rods, drilling heads, extruders, gate & ball valves and seats, hydraulic plungers, lip seal seats, mechanical seals, O-ring seal seats, pump shafts, rotors, sleeves, and others.This results in improved reliability, durability, and reduced operational downtimes.
In offshore drilling, hydraulic cylinders are exposed to salt from ocean spray that causes corrosion, pitting, and scratching. This can lead to oil contamination, seal failure, and, ultimately, machine failure.
APAC: The fastest-growing region in the global laser cladding market .
APAC has been ahead in terms of adoption of laser cladding solutions compared with other regions.The major countries contributing to the laser cladding market in APAC are China, Japan, India, South Korea, and the Rest of APAC.
The region’s increasing R&D investments and growing oil & gas, automotive, aerospace & defense manufacturing, mining, and electronics sectors are expected to drive the growth of the region’s laser cladding market. Continuous demand for cost-effective, reliable, and fast-response laser cladding solutions from the aforementioned end-use industries is also expected to drive the growth of the region’s laser cladding market.
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type: Tier 1 – 40%, Tier 2 – 25%, and Tier 3 – 35%
• By Designation: C-level Executives – 35%, Directors – 28%, and Others – 37%
• By Region: APAC – 40%, North America – 28%, Europe – 22%, RoW – 10%
TRUMPF (Germany), OC Oerlikon Management AG (Switzerland), Coherent, Inc (US), IPG Photonics Corporation (US), Han’s Laser Technology Industry Group Co., Ltd. (China), Hoganas AB (Sweden), Lumibird (France), Lumentum Operations LLC (US), Curtiss-Wright Corporation (US), Jenoptik (Germany), Alabama Specialty Products, Inc. (US), Efesto (US), Fraunhofer USA’s Center Midwest (US), Gravotech (France), Hayden Corporation (US), Kondex Corporation (US), LaserBond (Australia), LaserStar (US), Laserline (Germany), Laser Cladding Technologies (Singapore), Lincoln Laser Solutions (Canada), Optomec (Mexico), Preco (US), Technogenia (France), and TLM Laser (UK) are among the many players in the laser cladding market.
*Research Coverage:*
The report segments the laser cladding market and forecasts its size, by value, based on by Type (Diode laser, Fiber laser, CO2 laser, Acoustic laser, and Others), by Revenue (System revenue, Laser revenue), by End-use Industry (Oil & Gas, Mining, Aerospace & Defense, Automotive, Power Generation, and Others), and Region (North America, Europe, APAC, and RoW),.
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the laser cladding market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
*Key Benefits of Buying the Report*
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments.This report will help stakeholders and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the laser cladding market and provides them information on key market drivers, restraints, challenges, and opportunities. The report also covers COVID-19 impact on laser cladding market.
Read the full report: https://www.reportlinker.com/p06169599/?utm_source=GNW
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