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Stud Welding Machine Market Size, Market Competitive Landscape, Business Growth, Share, And Forecast To 2033
Stud Welding Machine
The Business Research Company presents an extensive market research report on the Stud Welding Machine Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The stud welding machine market size has grown strongly in recent years. It will grow from $1.17 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to growth in construction and infrastructure projects, automotive manufacturing expansion, increasing demand for lightweight materials, stringent quality and safety standards, expanding oil and gas exploration.
The stud welding machine market size is expected to see strong growth in the next few years. It will grow to $1.54 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to rise in renewable energy projects, increased adoption in shipbuilding, focus on automation and robotics integration, demand for high-speed and precision welding, expansion of aerospace manufacturing. Major trends in the forecast period include technological innovations in welding materials, advancements in welding technology, rise in automation and integration, increasing demand for high-speed welding, technological advancements in welding equipment.
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Key Market Players:
Würth Group, Hilti Group, DAIHEN Corporation, Nelson Stud Welding Inc., STANLEY Engineered Fastening, Genesis Inc., Midwest Fasteners Inc., Hanlon Equipment Company, SINOARS Stud Welding Co. Ltd., TFP Corporation, ChangZhou Jinda Welding Material Co. Ltd., Koster & Co. GmbH, Stud Welding Products Inc., Image Industries Inc., ElectroArc Manufacturing Co., Keystone Fastening Technologies Inc., Cutlass Stud Welding, THOMAS Welding Systems, Sunbelt Stud Welding Inc., ProWeld International, Bolte GmbH, HBS Stud Welding, Heinz Soyer GmbH, Taylor Studwelding Systems Ltd., Cruxweld Industrial Equipments Pvt. Ltd. are prominent players in the industry.
Market Drivers:
The growing construction industry is expected to propel the growth of the stud welding machine market going forward. Construction refers to building structures similar as homes, factories, highways, and bridges. Stud welding machines are used in construction to provide fast, efficient, and versatile permanent bond between materials. For instance, in June 2023, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, US-based government administrations, in May 2023, privately owned home starts were occurring at a seasonally adjusted annual pace of 1,631,000, representing an increase of 21.7% in the revised April 2023 prediction of 1,340,000 and 5.7% in the May 2022 rate of 1,543,000. The number of privately owned home completions in May 2023 was 1,518,000 on a seasonally adjusted yearly basis, representing an increase of 5.0% over the May 2022 rate of 1,446,000 and 9.5% above the revised April 2023 estimate of 1,386,000. Therefore, the growing construction industry is driving the growth of the stud welding machine market.
Market Segments Include:
1) By Type Of Arc Ignition: Capacitor Discharge Stud Welding, Drawn Arc Stud Welding
2) By Material: Steel, Aluminum, Copper, Brass
3) By Operation: Automatic, Semi-Automatic
4) By End-Use Industry: Automotive, Shipbuilding, Electric Goods, Construction, Farm, Other End-User Industries
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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