LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global welding equipment market to grow at a CAGR of almost 5% during the forecast period.
The rise in adoption of automated solutions for welding is one of the major trends witnessed in the global welding equipment market 2018-2022. The use of automation in the welding process has been increasing substantially due to the rising awareness regarding automation among vendors as they are seeking to gain a competitive advantage through automation. Advancements in robotics technology have also led to the use of robots in welding processes.
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According to Technavio analysts, one of the key factors contributing to the growth of the global welding equipment market is the emergence of friction stir welding technology in the automotive sector:
Global welding equipment market: Emergence of friction stir welding technology in the automotive sector
In friction stir welding technology, two metals are joined using frictional heat, along with a precisely controlled forging pressure. This technology prevents mechanical distortion as the whole process takes place under a low operating temperature. This leads to the final product possessing high-integrity and being defect-free. Friction stir welding technology is gaining traction, especially in the automotive industry.
According to a senior analyst at Technavio for research on engineering tools, “The friction stir welding process offers substantial advantages such as the ability to handle variations in the production process, improved mechanical properties, and low operating cost when compared with other welding processes. Automotive manufacturers can spot-weld thin aluminum sheets with friction stir welding.”
Global welding equipment market: Segmentation analysis
The global welding equipment market research report provides market segmentation by end-user (automotive, construction, A&D, and shipbuilding), and by region (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the four major end-users, the automotive segment held the largest market share in 2017, contributing to around 27% of the market. This end-user segment will dominate the global market throughout the forecast period.
APAC held the largest share of the market in 2017, accounting for close to 47% share. It was followed by the Americas and EMEA respectively. APAC is expected to dominate the market throughout the period 2018-2022.
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