LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global laser cladding equipment market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global laser cladding equipment market will grow at a CAGR of around 5% during the forecast period. The adoption of modern and efficient material hardfacing and coating technology is a major factor driving the market’s growth.
The adoption of material hardfacing and coating technology has been increasing steadily over the past few decades. It is driven by the need to increase the service life of equipment and lower operational expenses by reducing the wear and damage to equipment. These processes have proven to increase the component service life substantially, in some cases by nearly three times. Thus, it results in longer maintenance and replacement cycles and shorter downtimes in the end-user industries.
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In this report, Technavio highlights the development of automatic laser cladding equipment as one of the key emerging trends driving the global laser cladding equipment market:
Development of automatic laser cladding equipment
The laser cladding machines that are available at present in the market require a substantial amount of operator input and intervention for smooth operation. The equipment operator must manually input the operation guidelines such as power output, laser focus, substrate processing speed, and filler material feed rate. Maintaining these parameters requires highly-skilled machine operators to confirm optimal cladding results. But, the shortage of skilled workers in the high-end manufacturing industry has been driving laser cladding equipment manufacturers to develop automated laser cladding equipment. Manufacturers have been involved in the process of developing real-time process sensors that can sense and relay the substrate material’s geometry, metallurgical properties, and temperature data from the molten weld to a computer. The computer can then automatically provide feedback for error correction.
The materials or components to be cladded such as turbine blades usually have irregular designs or shapes. This further increases the complexity of manual operations. The development of fully automated laser cladding equipment is anticipated to lead to a reduction in the need for worker supervision during cladding operations as well as a reduction in cladding errors.
“In an automated laser cladding machine, the feed for the filler material is generated by the machine itself that can utilize the filler material in the form of a powder. At present, the automated laser cladding systems incorporate a specialized software with instrumentation hardware that can remotely deliver the laser cladding parameters for independent surface coatings. The ongoing drive toward industry 4.0 practices and factory automation is expected to further boost the development of advanced automatic laser cladding equipment during the forecast period,” says a senior analyst at Technavio for research on engineering tools.
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Global laser cladding equipment market segmentation
This market research report segments the global laser cladding equipment market by power (high power and low power) and key regions (the Americas, APAC, and EMEA).
EMEA dominated the global laser cladding equipment market in 2017, accounting for a share of around 44%. It was followed by the Americas and APAC. The market share for the EMEA region is expected to increase slightly during the forecast period. However, the market share for the Americas and APAC will decrease to a certain extent during this period.
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