Technavio has been monitoring the laser cladding equipment market and it is poised to grow by USD 18.19 mn during 2020-2024, progressing at a CAGR of almost 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Laser Cladding Equipment Market 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions:
What are the major trends in the market?
Development of automatic laser cladding equipment is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 2.69% and the incremental growth of the market is anticipated to be $ 18.19 mn.
Who are the top players in the market?
ALPHA LASER GmbH, Coherent Inc., Fraunhofer Society for the Promotion of Applied Research eV, Gall & Seitz Systems GmbH, Optomec Inc., IPG Photonics Corp., Laserline GmbH, OC Oerlikon Corp. AG, and TRUMPF GmbH + Co. KG, are some of the major market participants.
What is the key market driver?
The declining cost of laser systems is one of the major factors driving the market.
How big is the Europe market?
The European region will contribute 41% of the market share.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ALPHA LASER GmbH, Coherent Inc., Fraunhofer Society for the Promotion of Applied Research eV, Gall & Seitz Systems GmbH, Optomec Inc., IPG Photonics Corp., Laserline GmbH, OC Oerlikon Corp. AG, and TRUMPF GmbH + Co. KG. are some of the major market participants. The declining cost of laser systems will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Laser Cladding Equipment Market 2020-2024: Segmentation
Laser Cladding Equipment Market is segmented as below:
- High Power
- Low Power.
- Power Generation
- North America
- South America
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Laser Cladding Equipment Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The laser cladding equipment market report covers the following areas:
- Laser Cladding Equipment Market Size
- Laser Cladding Equipment Market Trends
- Laser Cladding Equipment Market Industry Analysis
This study identifies the development of automatic laser cladding equipment as one of the prime reasons driving the laser cladding equipment market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Laser Cladding Equipment Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist laser cladding equipment market growth during the next five years
- Estimation of the laser cladding equipment market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the laser cladding equipment market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of laser cladding equipment market vendors
Table of Contents:
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Industrial – Market size and forecast 2019-2024
- Mining – Market size and forecast 2019-2024
- Power generation – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by End-user
Market Segmentation by Power
- Market segments
- Comparison by power
- High power – Market size and forecast 2019-2024
- Low power – Market size and forecast 2019-2024
- Market opportunity by power
- Geographic segmentation
- Geographic comparison
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume driver – Demand led growth
- Price driver – Supply led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- ALPHA LASER GmbH
- Coherent Inc.
- Fraunhofer Society for the Promotion of Applied Research eV
- Gall & Seitz Systems GmbH
- Han’s Laser Corp.Ltd.
- IPG Photonics Corp.
- Laserline GmbH
- Optomec Inc.
- OC Oerlikon Corp. AG
- TRUMPF GmbH + Co. KG
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
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