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Laser Shock Peening Service Market Outlook 2020: Global Opportunity and Demand Analysis, Market Forecast, 2019-2028

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Laser Shock Peening Service Market Outlook 2020: Global Opportunity and Demand Analysis, Market Forecast, 2019-2028

Laser Shock Peening Service Market Outlook 2020: Global Opportunity and Demand Analysis, Market Forecast, 2019-2028

  • Published Date: 07 Jun 2020
  • Report ID: ICT&S 0016
  • Pages:180
  • Base Year: 2019
  • Format: PDF
  • Historical Data: 2016-2019

The global laser shock peening services market is projected to grow at a high CAGR. Laser peening is a cold working metal surface improvement process employed in imparting compressive residual stresses in all-inclusive materials. Compressive residual stresses induced by laser peening help prevent failures from fatigue and other surface deterioration effects by impeding crack initiation. Laser peening has precise control and enables access to hard-to-reach areas of a component. The laser peening process has several benefits, such as extended maintenance intervals, an increase in service life, and a reduction in downtime without changing the part’s design. The process is employed in various sectors such as aerospace, power generation, automotive, maritime, heavy equipment, and manufacturing industries.

Top Driver: Added Advantages and Surging Demand for Light-weight Components

The laser shock peening services market is expected to grow at a significant rate during the forecast period owing to its benefits and wide application in various sectors. Laser shock peening delivers in-depth and precise protection compared to shot peening and other conventional metal improvement processes. In addition, the LSP process utilizes short and high-energy laser pulses to provide component stability in fatigue-prone areas. This has consecutively resulted in the rapid adoption of LSP services. Moreover, the rising need for light-weight components in sectors such as aerospace, automotive, maritime, and others has driven the market.

 Manufacturing Industries to Make Crucial Contribution to Growth of the Market

Among application segments of the global laser shock peening service market, manufacturing industries is predicted to show significant growth in future owing to the increase in the demand for innovative designs and efficient products. Other segments in the application include Aerospace, Medical, Recreational Sports, Others. on the basis of type the market is segmented into High Energy, Low Repetition Rate Lasers, Intermediate Energy, Intermediate Repetition Rate Lasers, Low Energy, High Repetition Rate Lasers.

Rising Investments In Product Innovation to Benefit North America Market

North American countries such as the US are predicted to maximize their spending on the product innovation and are anticipated to gain highest revenue shares in the forecast period. Furthermore, the surge in the disposable income is anticipated to help the industry to propel in the next few years. The increase in number of key players in the region is expected to help the industry to gain significant years in the next few years.

Players to Focus on Laser Shock Peening Service Market

The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. LSP Technologies, Inc., GE Hitachi Nuclear Energy, Curtiss-Wright, Kunshan Carthing Precision, Lambda Technologies Group, Tyrida Optical Electric Technology, ZAL GmbH,    HiLASE, Westinghouse Electric and ALPhANOV among others could be at the forefront of the competition in the global market.

LSP Technologies, Inc.: In November 2018, LSP Technologies, Inc., the rapidly growing leader and innovator in laser peening services and equipment utilized to combat metal fatigue, acquired a 65,000-square foot facility in Dublin, Ohio.

GE Hitachi Nuclear Energy: In December 2018, GE Hitachi Nuclear Energy announced its intent to acquire the business and certain assets of REI Nuclear, LLC (REI Nuclear), a Columbia, South Carolina-based decommissioning technology and tooling Design Company. The acquisition is expected to close by the end of 2018.

Scope of the Report

By Type

  • High Energy, Low Repetition Rate Lasers
  • Intermediate Energy, Intermediate Repetition Rate Lasers
  • Low Energy, High Repetition Rate Lasers

By Application

  • Manufacturing Industries
  • Aerospace
  • Medical
  • Recreational Sports
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • SAMEA

Key Reasons to Purchase this Report

  1. It provides a technological development map over time to understand the growth rate of the industry.
  2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
  3. It renders definite analysis for changing competitive dynamics.
  4. It builds a seven-year estimate based on how the market is predicted to grow.

Table of Content

Chapter 1           Overview And Scope

1.1             Market Vision

1.1.1          Market Definition

1.1.2          Market Scope

1.2             Market Segmentation

Chapter 2           Our Research Practice

2.1             Our Research Methodology

2.2             Data Triangulation

2.3             Data Sources

2.4             Assumptions for the study

2.5             Approach Adopted

Chapter 3           Executive Summary

3.1             Market Snapshot

3.2             Regional Snapshot

3.3             Segment Summary

Chapter 4           Covid-19 Impact Analysis

4.1             Overview

4.2             Prevalence analysis

4.3             Key Factor Impact Analysis

Chapter 5           Global Laser Shock Peening Service Market Forces

5.1             What’s Driving the Market

5.2             Porter’s Five Forces Analysis

5.2.1          Power of Suppliers

5.2.2          Threats From New Entrants

5.2.3          Power of Buyer

5.2.4          Threat From Substitute Product

5.2.5          Degree of Competition

Chapter 6           Global Laser Shock Peening Service Market -Industry Snapshots

6.1             Overview

6.1.1          Global Laser Shock Peening Service Market Value, 2019 – 2028, (US$ Bn)

6.2             Market Overview

6.2.1          Drivers Analysis

6.2.2          Restraint/Challenges analysis

6.2.3          Opportunity Analysis

6.3             Supply Chain/Value Chain Analysis

6.4             Market SWOT Analysis

Chapter 7           Global Laser Shock Peening Service Market Analysis, by Type

7.1             Overview

7.2             Key Findings for Laser Shock Peening Service Market- By Type

7.2.1          Laser Shock Peening Service Market- High Energy, Low Repetition Rate Lasers

7.2.2          Laser Shock Peening Service Market- Intermediate Energy, Intermediate Repetition Rate Lasers

7.2.3          Laser Shock Peening Service Market- Low Energy, High Repetition Rate Lasers

Chapter 8           Global Laser Shock Peening Service Market Analysis, by Application

8.1             Overview

8.2             Key Findings for Laser Shock Peening Service Market- By Application

8.2.1          Laser Shock Peening Service Market- Manufacturing Industries

8.2.2          Laser Shock Peening Service Market- Aerospace

8.2.3          Laser Shock Peening Service Market- Medical

8.2.4          Laser Shock Peening Service Market- Recreational Sports

8.2.5          Laser Shock Peening Service Market- Others

Chapter 9           Laser Shock Peening Service Market Analysis by Region

9.1             Key Findings for Laser Shock Peening Service Market- By region

9.2             Overview

9.2.1          Global Laser Shock Peening Service Market Analysis, By Type, 2019 – 2028

9.2.2          Global Laser Shock Peening Service Market Analysis, By Application, 2019 – 2028

9.3             Laser Shock Peening Service Market – North America

9.3.1          Overview

9.3.2          U.S.

9.3.3          Canada

9.3.4          Mexico

9.3.5          North America Market, By Type

9.3.6          North America Market, By Application

9.4             Laser Shock Peening Service Market – Europe

9.4.1          Overview

9.4.2          Germany

9.4.3          United Kingdom

9.4.4          France

9.4.5          Italy

9.4.6          Rest Of Europe

9.4.7          Europe Market, By Type

9.4.8          Europe Market, By Application

9.5             Laser Shock Peening Service Market – Asia Pacific

9.5.1          Overview

9.5.2          China

9.5.3          Japan

9.5.4          India

9.5.5          Rest of APAC

9.5.6          Asia Pacific Market, By Type

9.5.7          Asia Pacific Market, By Application

9.6             Laser Shock Peening Service Market – SAMEA

9.6.1          Overview

9.6.2          Middle East & Africa (MEA)

9.6.3          South America

9.6.4          Rest Of World

9.6.5          South America, Middle East and Africa Market, By Type

9.6.6          South America, Middle East and Africa Market, By Application

Chapter 10       Market Competition Analysis

10.1           Market Share/Positioning Analysis

10.1.1       Market Positioning of Key Vendors, 2019

10.1.2       Key Strategies Adopted by the Leading Players

10.1.3       Recent Developments

Chapter 11       Company Profiles- Snapshot

11.1           LSP Technologies, Inc

11.1.1       Business Fundamentals

11.1.2       Financial Snapshots

11.1.3       Product Portfolio

11.1.4       Recent Developments

11.2           GE Hitachi Nuclear Energy

11.3           Curtiss-Wright

11.4           Kunshan Carthing Precision

11.5           Lambda Technologies Group

11.6           Tyrida Optical Electric Technology

11.7           ZAL GmbH

11.8           HiLASE

11.9           Westinghouse Electric

11.10        ALPhANOV

*More than 10 Companies are profiled in this Research Report*

*Financials would be provided on a best efforts basis for private companies”

Chapter 12       Appendix

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