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Laser cladding equipment refers to the equipment that is utilized in laser cladding process. In this process, the laser heat is utilized to deposit a layer of material to form a defect-free protective covering, bonded to the base material with maximum coating efficiency and minimum dilution. Laser cladding equipment is also known as laser metal deposition (LMD) system. It is ideal to create new surface as well as to repair the damaged surface i.e. it is extremely useful in re-manufacturing process.
The emergence of laser cladding equipment is attributed to its designing and usage ability, that has revolutionized the maintenance and repair time for respective material surface of machines. Additionally, it offers distortion-free surfaces and coatings of material that results in cost-effective technique to upgrade the material surfaces and repair components.
The adoption of laser cladding technology is increasing in recent years. It is owing to, its distinctive features and capabilities in various end-use industries including automotive, mining, aerospace, etc. Distinctive capabilities refers to low volume manufacturing, metallic coating, high value component repair and prototyping. For instance, in construction industry, laser cladding process is of atmost use as, it increases the wear resistance of the construction equipment. Moreover, key manufacturers are emphasizing on strategic mergers and acquisitions with regional and local players to build strong position in the market, that is ultimately boosting the growth of laser cladding equipment market.
Key Market Driver -
• The adoption of modern material coating and hard facing technologies • Advancement in laser cladding machines
Key Market Restraint -
• Limited energetic efficiency of the cladding process
Considering all these factors, the global laser cladding equipment market is expected to observe booming growth in the forecast period. However, COVID-19 pandemic has substantially impacted the laser cladding equipment market globally. The metal processing units have stopped production as, lockdown has broken the transportation processes. The industries including construction, mining, automotive are experiencing delays in project work and investments in the year 2020, owing to the sudden COVID-19 outbreaks. Moreover, the remanufacturing process has also been stopped attributed to the lack of skilled operators in the factories. Considering all these factors, the laser cladding equipment market is expected to witness modest growth in the second half of 2020 whereas, it shows high potential growth in near future.
Key players operating in the global laser cladding equipment market are TRUMPF, Oerlikon, Preco, Inc., Alpha Laser GmbH, O.R. Lasertechnologie GmbH, Laserline GmbH, TLM Laser, IPG Photonics Corporation, Coherent, Inc., Dura-Metal Alloy, KUKA AG, Flame Spray Technologies bv and others.
Europe is in the best position to lead the market, owing to the rising demand from end-use industries such as, automotive, aerospace and others. Moreover, several manufacturers are operating from European countries including, Germany, Italy and others. These manufacturers have technologically advanced capabilities that significantly fuel the market growth. Technological advancement refers to replacement of conventional technologies such as, Metal inert gas (MIG) welding, thermal spray and others with laser cladding technology.
Asia Pacific is anticipated to witness substantial growth, owing to the sudden rise in automotive, mining, chemical and steel industry applications. Additionally, the key players are focusing on laser cladding applications, especially in countries including, India, China and others to penetrate the product in this region.
North America is expected to witness steady growth, owing to the constant product development by the key manufacturers operating in this region. Moreover, the shortage of highly-skilled operators is forcing manufacturers to manufacture and develop automatic laser cladding machines, is boosting the growth of the market. Middle East and Africa and Latin America are expected to witness steady growth with effect of increased investment in infrastructural developments across Brazil, Mexico, South Africa, Saudi Arabia, United Arab Emirates and other countries.
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