激光专题系列深度报告之四&焊接系列深度报告之一：发展新质生产力，激光焊接大有可为

Industry Investment Rating - The report gives a "Positive" rating to the laser welding industry, highlighting its alignment with the development of new quality productivity and its role in intelligent manufacturing transformation [3] Core Views - Laser welding is a key method for intelligent manufacturing transformation, offering advantages such as high precision, efficiency, and automation compared to traditional welding methods [3] - Downstream industries like 3C electronics, automotive, and lithium batteries are driving demand for laser welding equipment, with significant growth potential in these sectors [3] - The penetration rate of laser welding is expected to increase due to three factors: machine replacement, equipment upgrades, and domestic substitution [3] Industry Overview - Laser welding is a critical process in high-end manufacturing, with applications in 3C electronics, automotive, and lithium battery industries [3] - The laser welding equipment market in China reached 8.31 billion yuan in 2022, with a CAGR of 24.85% from 2018 to 2022, and is expected to grow to 10.48 billion yuan in 2023 [18] - The automotive industry, in particular, has a low penetration rate of laser welding (20%-25%) compared to developed countries (60%), indicating significant growth potential [25] Downstream Demand - In the 3C electronics sector, laser welding is becoming a necessary process due to the trend towards high-precision manufacturing and the EU's New Battery Act, which promotes the use of environmentally friendly steel-shell batteries [20][23] - In the automotive industry, laser welding is used to enhance lightweighting, body strength, and assembly precision, with domestic adoption rates expected to rise [24][25] - In the lithium battery sector, the introduction of "4680" large cylindrical batteries has increased the demand for laser welding equipment due to the higher complexity and volume of welding required [26][27] Key Companies - Laser Equipment Manufacturers: Lianying Laser (specializing in laser welding with in-house laser production capabilities), Yifei Laser (focusing on cylindrical battery laser welding), Han's Laser (comprehensive laser equipment supplier), and Huagong Tech (comprehensive laser equipment supplier) [38] - Laser Component Manufacturers: Raycus Laser (continuous fiber laser) and JPT Opto-electronics (MOPA laser) [38] - Software Providers: Bystronic Electronics (intelligent welding systems) and Golden Orange (galvanometer welding control systems) [38] Market Trends - The laser welding industry is experiencing a triple penetration trend: machine replacement (due to labor shortages and rising costs), equipment upgrades (to meet high-precision manufacturing demands), and domestic substitution (replacing foreign technology with local alternatives) [29][30][36] - Domestic companies are making progress in laser welding technology, but there is still significant room for substitution in high-end applications, particularly in laser components and software [36]