The laser cladding market is estimated to be valued at USD 483 million in 2021; it is expected to grow at a CAGR of 9.6% during 2021–2026 to reach USD 823 million by 2026.
Some of the major driving factors for the growth of this market include the growing penetration of fiber lasers in laser cladding applications and increasing requirement across additive manufacturing and rapid manufacturing, coupled with the gradual transition from conventional laser technologies to laser cladding.