Lucintel's latest market report analyzed that laser welding provides attractive opportunities in the automotive, electronic, medical, jewellery, and tool & mold-making industries. The laser welding market is expected to reach $3.6 billion by 2028 with a CAGR of 5.8%. In this market, fiber is the largest segment by technology, whereas automotive is largest by end use industry.

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Based on technology, the laser welding market is segmented into fiber, CO2, solid-state, and others. The fiber segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, as it can operate in an affordable way without the use of optical mirrors or other components, like disc lasers, and ensures high-speed welding.

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The Laser Welding Market is marked by the presence of several big and small players. Some of the prominent players offering laser welding include Huagong Laser Engineering, Jenoptik, Wuhan Golden Laser, The Emerson Electric, and TRUMPF Group.

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