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Spot Welding Machines Market industry growth in the New Zealand from 2019 - 2027
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Global Resistance Spot Welding Machines Market: Overview
The global resistance spot welding machines market was valued at US$ 250 Mn in 2018, and is expected to expand at a CAGR of 5.5% from 2019 to 2027. The global resistance spot welding machines market is expanding significantly in terms of value.
Asia Pacific is the largest resistance spot welding machines market, and is expected to maintain its dominance over the forecast period of 2019 to 2027.
Resistance spot welding machines are used in sheet metal processing, production of nut & bolts, leak proof joints in small tanks & boilers, pipes & tubes, etc.
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Resistance Spot Welding Machines Market: Driving Factors
Growing production of passenger and commercial vehicles across the world is anticipated to fuel the demand for resistance spot welding machines during the forecast period.
Additionally, according to data published by the International Organization of Motor Vehicle Manufacturers, 2018, total commercial vehicle production, worldwide, stands at 25136912 units, out of which, the U.S. accounted for the highest share of approximately 33%, followed by China with 17%.
Global energy infrastructure investments are also expected to drive the growth of the resistance spot welding machines market during the forecast period.
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Resistance Spot Welding Machines Market: Key Challenges
Material, weld force, and energy are important parameters of resistance spot welding machines. Process parameters need to be correctly controlled for good quality welding. The welded joints possess low tensile and fatigue strength. This factor is expected to create significant challenges in the resistance spot welding machines market.
High electric power is required for the resistance spot welding machine process, and changing welding parameters lead to frequent wear of the electrodes.
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Resistance Spot Welding Machines Market: Competitive Landscape
The resistance spot welding machines market includes several players focused on the development of new products to cater to market demand.
The report includes the below-mentioned pointers of major players operating in the resistance spot welding machines market: Company Overview
Product Profiling
Market Share Analysis (2018)
Product Innovation
Business Strategies/Recent Developments Technological Advancements
Key Mergers & Acquisitions
Expansion Strategies
Company Financials
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