Welding Equipment Market to Witness Double Digit CAGR by 2021
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The demand for accuracy, quality, and consistency is anticipated to boost the robotics and automation technologies in the welding processes, particularly in the automotive sector. Moreover, increasing production of light vehicles will also contribute to the high demand for the welding equipment in the near future. The automotive sector will also witness high demand for friction-blend welding technology, which in turn results in high-integrity to the final product and makes it defect-free. Other factors such as low operating costs and intrinsic mechanical properties are anticipated to drive the global welding equipment market in the coming future. Rising acceptance of the technology among automakers also impacts the growth of the market in a positive way. In addition, growing adoption of new and developed welding processes is fostering the growth of the welding equipment market. Growing urbanization and industrialization in the developing countries is further positively impacting the construction projects which is turn is expected to foster the global market in future.
On the basis of welding technology, the global welding equipment market is segmented as oxy-fuel welding, arc welding, laser beam welding, resistance welding, and others. Based on the level of automation, the global market is segmented as and application. Based on technology, the global market is segmented as oxy-fuel welding, arc welding, laser beam welding, resistance welding, and others. The level of Automation is divided into automatic, manual, and semi-automatic. On the basis of Further application, the global welding equipment market is segmented as is fragmented into the marine application, transportation, building & construction, aerospace, defense, and automobile. Out of which the automotive sector is a dominating sector globally, occupies largest market sector. While The aerospace and defense segments show significant growth in the welding equipment market.
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The global welding equipment market is geographically segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa. Asia Pacific is accounted anticipated to witness the for largest market share in the entire globe in future. Additionally, groweth of the automobile and construction industries in emerging economies countries such as China and Japan is also contributing to the growth of the welding equipment market globally. The Middle East & and Africa is also owed to expected to emerge as the most profitable region for the welding equipment market in future.
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Some of the major players dominating the global welding equipment market are the Lincoln Electric Company, does Alpine AG, Obara Corporation, Voestalpine AG, Illinois Tool Works Inc., Colfax Corporation, and Panasonic Corporation. Other key Some of the leading players operating influencing in the global welding equipment market are Amada Miyachi, Arcon Welding Equipment, Sonics and Materials, Inc., Nelson Stud Welding (Doncasters Group Ltd.), Arcon Welding Equipment, Rofin-Sinar Technologies, DAIHEN Corporation, Inc., and Fronius International GmbH.
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