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Global Laser Cladding Services Market was Valued at US$ 2,240 Mn in 2020 Owing to Growing Demand from Diversified Applications.

Published On 06 Jan 2022 09:21 AM


Laser cladding is a coating process that involves depositing one or more layers of a specific material termed clad onto a substrate in such a manner that a sound interfacial connection is produced without considerable diluting of one into the other. The idea is to maximize surface qualities, most often corrosion and wear resistance. This process is also rapidly being used in the industry for coating and repairing expensive components with surface damage, such as tools/dies, turbines and other expensive components. During the ten years, laser cladding has become an established technique in many industrial fields for applying wear and corrosion protection layers on metallic surfaces as well as for the repair of high value-added components. New developments in laser cladding such as micro cladding, having a size range below 50μm, especially for electronic and medical applications, is gaining traction and is anticipated to fuel the growth of global laser cladding services market over the forecast period. In terms of revenue, global laser cladding services market was valued at US$ 2,240 Mn in 2020 growing at a CAGR of 7.8% over the forecast period (2021 – 2029).

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Extensive information on the following pointers will be covered in the 420+ Pages Research study:

  • Global Market size and forecast values (2015 – 2029), in terms of revenue (US$ Million) by segments/sub-segments; wherein 2015 to 2019 has been considered as historic years, 2020 as the base year, while 2021 to 2029 has been considered as the forecast period.
  • Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
  • Market Determinants and Influencing Factors
  • Market Dynamics (Drivers, Restraints, Opportunities and Challenges)
  • Business and Technological Trends
  • Impact of Covid-19 on Global Laser Cladding Services Market
  • Macro-Economic and Micro-Economic Indicators
  • Porter’s Five Forces Analysis
  • Competitive Analysis
    • Global Presence and Growth Strategies
    • Market Share Analysis, 2020
  • Detailed profiles of major market participants operating in the market, encompassing information on company details, company overview, product offerings, key developments, financial analysis, SWOT analysis and business strategies
  • Research studies focusing on specific regions including North America, Europe, Asia Pacific, Middle East & Africa and Latin America are also available.
  • We have reports available in different languages including Arabic, Spanish, Chinese, Japanese, German, Russian, French, Korean and other languages.

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Aircraft and Aerospace Industry to witness Fastest Growth over the Forecast Period (2021-2029)

The aerospace industry is one of the largest industry that requires laser cladding services. In an airplane engine, many vital machineries are laser cladded. The laser clad process is often used for the manufacturing and repair and is one of the industry standard. As aircraft fleets age, in-service component damage due to corrosion, wear, or debris contact is becoming more prevalent. Replacement of these damaged parts may be costly and time-consuming, putting a strain on fleet availability and maintenance expenditures. Furthermore, major manufacturers of aerospace engines are using 3D printing, laser cladding and cold spray into their aerospace operations. Metal-to-metal wear, fretting, hot corrosion, particle erosion, and other factors all contribute to the degeneration of aviation engines. Degradation is accelerated by the high-temperature conditions involved and hence laser cladding is opted as an efficient technology. Laser cladding is a significant material surface modification technique. Because the cost of spare parts for aero motors is so expensive in the aviation industry, it is often more practical and cost-effective to repair the parts. Laser cladding can be used to construct the interior parts of an engine in addition to the functioning parts. Additive manufacturing may be utilised to make air conditioning, belt buckles, heating components, and cockpit equipment, and it is commonly employed due to the reduced weights that can be attained. Thus the above factors are driving the growth of the global laser cladding services market.

On-site Distribution to Witness Fastest Growth over the Forecast Period (2021-2029)

AMI reports that on-site distribution will grow at the fastest rate over the forecast period in the global laser cladding services market. In some cases, where it is impossible to transport parts for laser cladding, in such condition on-site laser cladding has proven to be the best option. Laser Cladding Corp., for example, provides onsite laser cladding services in almost any location or business. They provide mobile laser cladding services, bringing equipment and expertise to the job site so that clients can get the job done securely and on schedule. Moreover, the companies are investing in robotic based on-site restoration technologies for efficiency and faster laser cladding services which is estimated to proliferate the growth of onsite distribution segment in the global laser cladding services market over the forecast period.

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Expansion of Oil and Gas, Mining and Agriculture Industries is the driving the Growth of Laser Cladding Services Market in Asia Pacific.

AMI reports that Asia Pacific is estimated to be the fastest growing region in the global laser cladding services market over the forecast period. In the last few years, oil and gas, mining and agriculture industries in this region has experienced a rapid growth. Large-scale laser cladding services are required because the equipment used in these industrial sectors is subjected to some of the hardest wear and high-impact conditions, with a wide spectrum of vital components turning to laser cladding to safeguard, repair, and harden operating equipment. In addition, the laser cladding services market participants are offering new laser cladding technologies for the oil and gas, mining, and agriculture industries, such as EHLA cladding and wide beam cladding. The market growth in the region is predicted to increase due to rising R&D investments in laser cladding technology, as well as growing manufacturing and electronics industries.

Some of the key players operating in the global laser cladding services market are:

Global Laser Cladding Services Market:

By Offering

  • Wear Resistance
  • Corrosion Resistance
  • Others

By End Use

  • Oil and Gas Industry
    • Hydraulic Shafts
    • Downhole Tools
    • Tool Joints
    • Valve Seats
    • Flanges
    • Oil and Gas Pumps
    • Others
  • Electric Motor Repair
    • Repairing electric motor shafts
    • Repairing oversized or worn keyways
    • Others
  • Power Generation Industry
    • Boiler Tubes
    • Pump Components
    • Pipe Slip Joints
    • Agitator Blades
    • Others
  • Medical Parts
  • Aircraft and Aerospace
  • Mining and Construction
  • Agriculture
  • Others

By Distribution

  • In House
  • Onsite

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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