Technavio, a tech-focused market research firm, has published a new report on the global friction stir welding equipment market, which is expected to experience a slow but steady growth rate of close to 8% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global friction stir welding equipment market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global friction stir welding equipment market into the following key regions: The Americas, APAC, and EMEA.
Geographical segmentation of the global friction stir welding equipment market for 2015 (market share %)
|
APAC |
42.1% |
|
Americas |
31.9% |
|
EMEA |
26% |
Source: Technavio
APAC: largest revenue generating region for friction stir welding equipment
The friction stir welding equipment market in APAC was valued at over $492 million in 2015 and is expected to grow at a CAGR of around 10% by 2020. The increasing demand for friction stir welding equipment from end-user industries like automotive, aerospace and defense, shipbuilding, and railways will propel the growth of the market in this region. The raising requirement for passenger cars and commercial vehicles in countries like India, Indonesia, Thailand, and Vietnam is creating a demand for this equipment in the area. The progression in the transportation sector, especially aerospace in China will also impact the growth of the market in the region.
“Urbanization and large-scale developments in the transport infrastructure is increasing investments in this equipment. The concerns of environmental pollutions are encouraging countries to opt for electric trains instead of diesel locomotives in the APAC market. The growing investments in the marine industry and availability of cheap labor in China will help vendors set more production units in the area,” says Gaurav Mohindru, a lead analyst at Technavio, specializing in research on engineering tools.
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Friction stir welding equipment market in Americas
The friction stir welding equipment market in the Americas was valued at over $373 million in 2015 and is expected to grow at a CAGR of almost 8% by 2020. The aerospace and automotive sectors are primary users of welding equipment in the American market. The major market for automotive manufacturers is the US is in North America, and manufacturers are launching automotive with the latest technology. As the requirement and customer base is large in this area, original equipment manufacturers (OEMs) are to boost their manufacturing capabilities in the region. The US government is focusing on the development of road and air transport infrastructure and provide efficient, reliable, and cost-effective transportation to the people. Such avenues for progress is increasing the investments and multiple projects are being undertaken in the Americas augmenting the growth of the friction stir welding equipment market.
Friction stir welding equipment market in EMEA
The friction stir welding equipment market in EMEA was valued at about $304 million in 2015 and is expected to grow at a CAGR of around 7% by 2020. The European countries such as Germany, the UK, and Italy are the primary consumers of friction stir welding equipment and services in the region. The growing investment in the automotive and aerospace industries will also fuel the market in this area. The development of complex vessels, like container ships, naval vessels, cruise or passenger boats, reefers, and liquefied natural gas (LNG), and liquefied petroleum gas (LPG) carriers in the European marine industry will lead to increasing production units in the market. The African shipbuilding industry is also undergoing major changes in the field of local content requirement policies with a focus on production units and will continue to be potential investment areas for friction stir welding equipment market.
The top leading vendors operating in the friction stir welding equipment market are:
- Beijing FSW
- Colfax
- Hitachi
- MTI
Other prominent vendors in the market include ETA Technology, EWI, Fooke, Gatwick, General Tool Company, KUKA Systems, Megastir, PaR Systems, RV Machine Tools, and Sapa.
A more detailed analysis is available in the Technavio report titled, ‘Global Friction Stir Welding Equipment Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Welding Equipment Market 2016-2020
- Global Sheet Metal Equipment Market 2016-2020
- Global Metal Fabrication Equipment Market 2016-2020
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