Market Overview:
The global laser peening equipment market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for laser peening equipment from various end-use industries, such as manufacturing, aerospace, automotive, energy and medical sectors. In addition, the growing demand for high-quality products and components across different industrial verticals is also propelling the growth of this market. Based on type, the global laser peening equipment market can be segmented into stationary type and mobile type. The stationary type segment dominated the global market in 2017 and is expected to maintain its dominance during the forecast period as well. This can be attributed to its ability to provide high precision results with minimal wastage of material or time.
Product Definition:
Laser peening equipment is a device that uses lasers to peen metal surfaces. Peening is a process in which small, high-velocity projectiles are fired at the surface of a metal object. This causes the surface to deform, creating microscopic indentations that increase its strength and durability. Laser peening equipment can be used to improve the performance of metals in applications such as aerospace, automotive, and construction.
Stationary Type:
Stationary type is used in laser peening equipment for the purpose of providing a stable base to operate the equipment. It consists of two metal plates, which are clamped by means of vise-grips and then connected by an electric cable. The energy required to generate a magnetic field and accelerate a charged particle to very high speed is provided by an electric current that flows through the wire coiled around one plate while the other plate acts as a receiving antenna.
Mobile Type:
Mobile type is a system that enables the operator to change the nozzle position while peening. It helps in improving productivity and quality of output. The mobile type system consists of two main parts, namely, control unit and actuator. Control unit controls actuator through wireless communication channel to move it from one position to another according to user requirements.
Application Insights:
The manufacturing industries segment dominated the global laser peening equipment market in 2017, accounting for over 40% of the overall revenue. The growth can be attributed to increasing demand for high-quality steel from manufacturers across the globe. Laser peening is used to improve surface hardness and corrosion resistance of cold and hot rolled steel products including bars, rods, beams and sheets.
The automotive industry is expected to emerge as one of the fastest-growing segments over the forecast period owing to increased production levels in China and Japan coupled with growing demand for automobiles from emerging economies such as India & South Korea. In addition, stringent regulations regarding safety coupled with high performance requirements are anticipated to further drive product demand in this sector over the coming years.
Regional Analysis:
Asia Pacific dominated the global laser peening equipment market in 2016 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to rising demand for high-quality steel from various end-use industries, such as aerospace, automotive, manufacturing and energy.
The Asia Pacific is a major producer and consumer of steel with China being the largest producer as well as consumer of laser peened steel in this region. In addition, countries such as Japan are also contributing significantly towards regional growth owing to increasing production levels across several industrial sectors including automotive and others.
Europe accounted for a significant share in 2016 owing to growing automobile production levels across several countries including Germany, Spain, Italy among other Eastern & Central European countries that are contributing significantly towards overall industry growth.
Growth Factors:
- Increasing demand for lightweight and high-strength materials in automotive and aerospace industries
- Growing popularity of laser peening among Original Equipment Manufacturers (OEMs) for surface enhancement of critical components
- Rising investments in research and development activities for the development of new laser peening technologies
- Proliferation of automated manufacturing processes that require precision surface treatment solutions
- Increasing number of applications for laser peening in diverse industrial sectors
Scope Of The Report
Report Attributes
Report Details
Report Title
Laser Peening Equipment Market Research Report
By Type
Stationary Type, Mobile Type
By Application
Manufacturing Industries, Aerospace, Automotive, Energy, Medical, Recreational Sports, Others
By Companies
LSP Technologies, Inc., Curtiss-Wright, Tyrida Optical Electric Technology, Kunshan Carthing Precision, Toshiba
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
191
Number of Tables & Figures
134
Customization Available
Yes, the report can be customized as per your need.
Global Laser Peening Equipment Market Report Segments:
The global Laser Peening Equipment market is segmented on the basis of:
Types
Stationary Type, Mobile Type
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Manufacturing Industries, Aerospace, Automotive, Energy, Medical, Recreational Sports, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- LSP Technologies, Inc.
- Curtiss-Wright
- Tyrida Optical Electric Technology
- Kunshan Carthing Precision
- Toshiba
Highlights of The Laser Peening Equipment Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Stationary Type
- Mobile Type
- By Application:
- Manufacturing Industries
- Aerospace
- Automotive
- Energy
- Medical
- Recreational Sports
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Laser Peening Equipment Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Laser peening equipment is a specialized tool used to create a hard, durable surface on metal. The laser beam melts the metal around the area being treated, creating a tough and resistant finish.
Some of the major players in the laser peening equipment market are LSP Technologies, Inc., Curtiss-Wright, Tyrida Optical Electric Technology, Kunshan Carthing Precision, Toshiba.
The laser peening equipment market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Laser Peening Equipment Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Laser Peening Equipment Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Laser Peening Equipment Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Laser Peening Equipment Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Laser Peening Equipment Market Size & Forecast, 2018-2028
4.5.1 Laser Peening Equipment Market Size and Y-o-Y Growth
4.5.2 Laser Peening Equipment Market Absolute $ Opportunity
Chapter 5 Global Laser Peening Equipment Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Laser Peening Equipment Market Size Forecast by Type
5.2.1 Stationary Type
5.2.2 Mobile Type
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Laser Peening Equipment Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Laser Peening Equipment Market Size Forecast by Applications
6.2.1 Manufacturing Industries
6.2.2 Aerospace
6.2.3 Automotive
6.2.4 Energy
6.2.5 Medical
6.2.6 Recreational Sports
6.2.7 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Laser Peening Equipment Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Laser Peening Equipment Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Laser Peening Equipment Analysis and Forecast
9.1 Introduction
9.2 North America Laser Peening Equipment Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Laser Peening Equipment Market Size Forecast by Type
9.6.1 Stationary Type
9.6.2 Mobile Type
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Laser Peening Equipment Market Size Forecast by Applications
9.10.1 Manufacturing Industries
9.10.2 Aerospace
9.10.3 Automotive
9.10.4 Energy
9.10.5 Medical
9.10.6 Recreational Sports
9.10.7 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Laser Peening Equipment Analysis and Forecast
10.1 Introduction
10.2 Europe Laser Peening Equipment Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Laser Peening Equipment Market Size Forecast by Type
10.6.1 Stationary Type
10.6.2 Mobile Type
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Laser Peening Equipment Market Size Forecast by Applications
10.10.1 Manufacturing Industries
10.10.2 Aerospace
10.10.3 Automotive
10.10.4 Energy
10.10.5 Medical
10.10.6 Recreational Sports
10.10.7 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Laser Peening Equipment Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Laser Peening Equipment Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Laser Peening Equipment Market Size Forecast by Type
11.6.1 Stationary Type
11.6.2 Mobile Type
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Laser Peening Equipment Market Size Forecast by Applications
11.10.1 Manufacturing Industries
11.10.2 Aerospace
11.10.3 Automotive
11.10.4 Energy
11.10.5 Medical
11.10.6 Recreational Sports
11.10.7 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Laser Peening Equipment Analysis and Forecast
12.1 Introduction
12.2 Latin America Laser Peening Equipment Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Laser Peening Equipment Market Size Forecast by Type
12.6.1 Stationary Type
12.6.2 Mobile Type
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Laser Peening Equipment Market Size Forecast by Applications
12.10.1 Manufacturing Industries
12.10.2 Aerospace
12.10.3 Automotive
12.10.4 Energy
12.10.5 Medical
12.10.6 Recreational Sports
12.10.7 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Laser Peening Equipment Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Laser Peening Equipment Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Laser Peening Equipment Market Size Forecast by Type
13.6.1 Stationary Type
13.6.2 Mobile Type
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Laser Peening Equipment Market Size Forecast by Applications
13.10.1 Manufacturing Industries
13.10.2 Aerospace
13.10.3 Automotive
13.10.4 Energy
13.10.5 Medical
13.10.6 Recreational Sports
13.10.7 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Laser Peening Equipment Market: Competitive Dashboard
14.2 Global Laser Peening Equipment Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 LSP Technologies, Inc.
14.3.2 Curtiss-Wright
14.3.3 Tyrida Optical Electric Technology
14.3.4 Kunshan Carthing Precision
14.3.5 Toshiba
