The global laser plastic welding market is prognosticated to witness a healthy growth in the forthcoming years, as reported by Transparency Market Research (TMR). The market’s competitive ecosystem is expected to witness stiff competition among the different players in the forthcoming years, ascribed to the mounting potential of the welding industry. Some of the prominent players in the global laser plastic welding are Rofin Sinar Technologies Inc., TRUMPF GmbH + Co. KG, Ltd, LPKF Laser & Electronics AG, Jenoptik AG, Emerson Electric Co., and Nippon Avionics Co., Ltd., among several others.
The vendors operating in the global laser plastic welding market are expected to engage in diverse strategies in ordered to gain prominence in the market, such as expansion to unexplored regions, partnerships, collaborations and mergers and acquisitions. Market players are additionally focused on the introduction of novel technological advances in order to differentiate their offering from the competition.
As reported by TMR, the global plastic welding market, which was evaluated to be at US$ 758.9 mn in 2016, is predicted to reach US$ 1,543.2 mn by 2015. Over the forecast period of 2017 to 2025, the global plastic welding market is anticipate to expand at an 8.3% CAGR.
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Among the different types, the segment of integrated systems is expected to gain momentum and hold a higher share of the global plastic welding market in terms of volume. In terms of end-use, the automotive industry segment held nearly 49% of the market in 2017, and is expected to gain impetus over the forecast period. Geography-wise, Asia Pacific held a key share of roughly 42% of the global laser plastic welding market in 2017, and is expected to gain even more prominence over the duration of forecast.