Laser cladding equipment market to grow at a CAGR 8.19% to 2021

The Global Laser Cladding Equipment Market study was conducted using an objective combination of primary and secondary information including inputs from key participants in the market during 2017-2021.

The Laser Cladding Equipment Market report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors for 2017-2021. The following companies are the key players in the global laser cladding equipment market: IPG Photonics, Oerlikon Metco, OR Laser, and TRUMPF.

Other Prominent Vendors in the market are: Wuhan Hans Goldensky Laser System, Flame Spray Technologies, and EFESTO.

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One trend in the market is the use of high-power laser diodes in laser cladding.

Laser cladding is a process, which is used to improve the property of the surface metal by adding another metal on it in a controlled manner.

There are many other traditional methods like arc welding and thermal spraying. These methods have drawbacks like not meeting the desired output characteristics, ease of implementation, and operating costs.

In response to the need for a more optimal source, high-power laser diodes were implemented in the cladding process.

According to the report, one driver in market is the need for additional corrective machining. Traditional methods of cladding require a high volume of heat to clad metals together.

This may require additional corrective machining, which in turn, will increase the time and operational cost for the manufacturer. As a result, the demand for efficiency, performance, and extended life of the product is growing.

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Further, the report states that one challenge in market is the slowdown in the global oil and gas sector. The laser cladding equipment manufacturers benefitted from the increase in onshore and offshore oil and gas exploration and production.

However, at present, the plunge in the global oil and gas industry has caused the oil and gas prices to fall by almost 40%-50% between 2014 and 2016.

This limits new investments in the oil and gas industry, which is posing a serious challenge to the laser cladding equipment manufacturers. The rig count acts as a barometer for the oil and gas drilling industry and its suppliers worldwide.

There has been an almost 35% drop in the rig count between 2014 and 2015. This is an indicator of weak demand for the equipment used by the oil and gas industry.