Aluminum Welding Market share research by applications and regions for 2017-2024
Increase in demand of automobiles, aluminum welding Market will even witness hike in the forecast period. The process is widely used in automotive manufacturing to provide strong base and durability in the good. Friendly taxation policies including GST in India will further boost industry growth.
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Process is increasingly being used for commercial and military aircraft manufacturing. It is used in aircrafts for corrosion protection, provides resistance from harmful UV rays and it even offers good strength to weight and cost ratio.
Rise in trucks demand is anticipated to witness a grow of 50% by 2024 due to its high usage in carrying goods and providing effective door to door supply services. Trucks can carry huge amount of cargo in any form as numerous sizes and shapes give them ease of mobility. These noteworthy features of trucks will in turn propel the aluminum welding market share.
Increasing population is driving demand for construction projects for various residential and commercial building and has positively impacting aluminum welding market. It provides high electrical and thermal conductivity to the structures. Aluminum is a smooth, bright structure that gives no spark when molded. It is used along with brick, steel and cement in construction material to give strength and durability to buildings.
Rising demand for repair and maintenance drives aluminum welding market. Infrastructure industry require repair and maintenance on a regular basis to provide durability and sustainability to the structure. Growing demand for infrastructural development in Asia Pacific will significantly stimulate the aluminum welding market size.
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Europe is highly flourishing region for product as it manufacturers highest number of trucks in the world. It hosts many big truck manufacturing companies including Mercedes, Invesco and Grebe. Main focus of these companies is on manufacturing good quality product that are efficient, secure and environment friendly. Rising demand and manufacturing of trucks will propel aluminum welding industry development in the region.
Japan has most efficient road transport infrastructure due to its world-class technology and advance road connectivity system. Connectivity between countries through road transportation is significant to provide better good transposition mechanism. Growth in the commercial vehicle requirement along with rising population will boost aluminum welding market share in the country.
The U.S. will fairly contribute in growth of aluminum welding market in forecast period due to rapidly development of its defense and aerospace sector. Several manufacturers in North America are emphasizing on research and development activities to manufacture tools and generate techniques for easy and efficient process implementation.
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Prominent players in aluminum welding market are ESAB, Voestalpine Bohler, Navametal, Air Liquide, Lincoln Electric Company, Gedik, Safra, Sural, Hilarius Haarlem Holland and EWM Hightec.
ESAB expanded in Indian market with the purchase of Indian Oxygen Ltd. business in 1991 and Flotech Cutting System Ltd. in 1992, followed by its merger with Maharashtra Weldaids Ltd. in 1994. Its aim of expansion and merger was to strength its presence in India and broaden its product offerings to satisfy growing customer demand. Revenue maximization is another reason for these expansion and merger.
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