This global market research report presents detailed segmentation of the welding equipment market by end-user (automotive, construction, aerospace and defense, shipbuilding, and others) and by geography (the Americas, APAC, and EMEA). The leading players in the market include Colfax, Fronius, ITW, and, Lincoln Electric.
Technavio’s market research analysts estimate the global welding equipment market to grow at a CAGR of around 5% between 2016 and 2020. The market is expected to thrive during the forecast period due to the increasing demand from the automotive and construction sectors. The emergence of friction-stir welding technology in the automotive industry is the primary driver the market. The friction stir welding process is gaining traction among automakers as it can spot-weld thin aluminum sheets. The growing demand from the wind energy sector is also expected to reflect positively on the market in the coming years. At present, APAC dominates the global welding equipment market with a market share of over 46%. The APAC market is likely to exhibit rapid growth rates due to growing construction and automotive industries during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the welding equipment segments by end-user.
“The redressal of skilled workforce is an ongoing trend in the global welding equipment market. This is encouraging the development of new technologies to address the dearth of skilled welding equipment operators and cater to the demand of customers. Such technological enhancements effectively reduce the need for extensive training programs that help the end-users ensure better-finished products without compromising on quality,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research.
In 2015, the automotive sector dominated the global welding equipment market by holding a market share of over 27%. The stringent requirements for quality, reliability, and precision has given way to the incorporation of robotics and automation technologies in the welding processes in the automotive sector to enable high levels of precision and efficiency. The growth of profit margins in the automotive sector due to economy recovery is expected to boost the automotive sector segment by 2020.
The key vendors in the global welding equipment market include Colfax, Fronius, ITW, and, Lincoln Electric. The market is moderately fragmented, with the dominance of major players. Being capital-intensive, this market poses a serious challenge for local vendors, which face tough competition from large players in terms of quality, features, functionalities, and services. Owing to the growing demand from the construction and automotive sectors, vendors are increasingly implementing automatic welding management software in the welding process.
A more detailed analysis is available in the Technavio report, Global Welding Equipment Market 2016-2020.
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