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The global welding equipment market is anticipated to grow at a CAGR of 7.1% during the forecast period. Welding is a process of manufacturing or assembling used to join materials such as metals and thermoplastics. The process of joining metals is carried out by the fusion of intersecting materials. Advancements in welding have introduced various technologies such as shielded metal arc welding (SMAW), submerged arc welding (SAW), gas tungsten arc welding (GTAW), gas metal arc welding (GMAW), and flux-cored arc welding (FCAW). The demand for welding equipment is rising exponentially as most industrial products are manufactured using the welding process. Hence, the demand for welding equipment to carry out the welding process is rising rapidly, especially in manufacturing.
Top Driver: Robust Demand in Automotive Sectors and Advancements in Technology
The demand for quality, accuracy, and consistency is expected to fuel the robotics and automation technologies in the welding processes, especially in the automotive sector. In addition, the rapid production of lightweight vehicles will also boost the demand for welding equipment in the coming future. Other factors, such as cost-effective operations and intrinsic mechanical properties, are expected to drive the welding equipment market. The rising adoption of advanced technology among automakers and urbanization in developed countries is expected to positively impact the market.
The Arc Welding Segment is Expected to Make a Crucial Contribution to the Market
On the basis of technology, the market is segmented into Laser Beam Welding, Arc Welding, Resistance Welding, Oxy-fuel Welding, Others. The arc welding segment accounted for larger market share owing to the increasing use of arc welding in the offshore infrastructure development activities and maintenance and repair of pipelines and nuclear facilities. On the basis of equipment, the market can be segmented into Automatic, Semi-Automatic, Manual. On the basis of end use the market is segmented into Building & Construction, Energy, Aerospace, Automotive, Oil & Gas, Marine, Others.
Rising Automobile Growth To Benefit Asia Pacific Market
Asia Pacific is anticipated to gain the largest market share in the entire globally in the near future. Additionally, there is a steep growth of the automobile and construction industries in economies countries such as China and Japan is also anticipated to help in contributing to the growth of the welding equipment market in the forecast period. Furthermore, the Middle East & and Africa is also owed to anticipated to emerge as the region which is lucrative region for the welding equipment market in the coming years.
Players to Focus on Welding Equipment Market
The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. Lincoln Electric Company, voestalpine AG, Obara Corporation, Voestalpine AG, Illinois Tool Works Inc., Colfax Corporation, and Panasonic Corporation, 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 among others could be at the forefront of the competition in the global market.
Lincoln Electric Holdings, Inc.: In May 2019, Lincoln Electric Holdings, Inc., announced it had entered into an agreement to purchase an additional 49.6% interest in Kaynak Tekniği Sanayi ve Ticaret A.Ş. to advance Lincoln Electric’s regional growth strategy.
voestalpine Böhler Welding: In March 2020, voestalpine Böhler Welding, a leading global company in the field of welding technology and part of the technology group voestalpine, had acquired a majority stake in the traditional Italian manufacturer for welding machines Selco s.r.l.. With this, voestalpine Böhler Welding is further expanding its market position after the successful launch of the welding machine series in its brand in June 2019.
Scope of the Report
By Technology
By Equipment
By End-User
By Region
Key Reasons to Purchase this Report
1.1 Market Vision
1.1.1 Market Definition
1.1.2 Market Scope
1.2 Market Segmentation
2.1 Our Research Methodology
2.2 Data Triangulation
2.3 Data Sources
2.4 Assumptions for the study
2.5 Approach Adopted
3.1 Market Snapshot
3.2 Regional Snapshot
3.3 Segment Summary
4.1 Overview
4.2 Prevalence analysis
4.3 Key Factor Impact Analysis
5.1 What’s Driving the Market
5.2 Porter’s Five Forces Analysis
5.2.1 Power of Suppliers
5.2.2 Threats From New Entrants
5.2.3 Power of Buyer
5.2.4 Threat From Substitute Product
5.2.5 Degree of Competition
6.1 Overview
6.1.1 Global Smart Manufacturing Market Value, 2019 – 2028, (US$ Bn)
6.2 Market Overview
6.2.1 Drivers Analysis
6.2.2 Restraint/Challenges analysis
6.2.3 Opportunity Analysis
6.3 Supply Chain/Value Chain Analysis
6.4 Market SWOT Analysis
7.1 Overview
7.2 Key Findings for Smart Manufacturing Market- By Technology
7.2.1 Smart Manufacturing Market- Supervisory Controller and Data Acquisition (SCADA)
7.2.2 Smart Manufacturing Market- Manufacturing Execution System (MES)
7.2.3 Smart Manufacturing Market- Programmable Logic Controller (PLC)
7.2.4 Smart Manufacturing Market- Distributed Control System (DCS)
7.2.5 Smart Manufacturing Market- Enterprise Resource and Planning (ERP)
7.2.6 Smart Manufacturing Market- Product Lifecycle Management (PLM)
7.2.7 Smart Manufacturing Market- Human Machine Interface (HMI)
8.1 Overview
8.2 Key Findings for Smart Manufacturing Market- By Component
8.2.1 Smart Manufacturing Market- Robotics
8.2.2 Smart Manufacturing Market- Communication Segment
8.2.3 Smart Manufacturing Market- Control Device
8.2.4 Smart Manufacturing Market- Sensor
8.2.5 Smart Manufacturing Market- Machine Vision Systems
9.1 Overview
9.2 Key Findings for Smart Manufacturing Market- By End User
9.2.1 Smart Manufacturing Market- Oil and Gas
9.2.2 Smart Manufacturing Market- Automotive
9.2.3 Smart Manufacturing Market- Pharmaceutical
9.2.4 Smart Manufacturing Market- Chemical and Petrochemical
9.2.5 Smart Manufacturing Market- Metals and Mining
9.2.6 Smart Manufacturing Market- Food and Beverage
10.1 Key Findings for Smart Manufacturing Market- By region
10.2 Overview
10.2.1 Global Smart Manufacturing Market Analysis, By Technology, 2019 – 2028
10.2.2 Global Smart Manufacturing Market Analysis, By Component, 2019 – 2028
10.2.3 Global Smart Manufacturing Market Analysis, By End User, 2019 – 2028
10.3 Smart Manufacturing Market – North America
10.3.1 Overview
10.3.2 U.S.
10.3.3 Canada
10.3.4 Mexico
10.3.5 North America Market, By Technology
10.3.6 North America Market, By Component
10.3.7 North America Market, By End User
10.4 Smart Manufacturing Market – Europe
10.4.1 Overview
10.4.2 Germany
10.4.3 United Kingdom
10.4.4 France
10.4.5 Italy
10.4.6 Rest Of Europe
10.4.7 Europe Market, By Technology
10.4.8 Europe Market, By Component
10.4.9 Europe market by, End User
10.5 Smart Manufacturing Market – Asia Pacific
10.5.1 Overview
10.5.2 China
10.5.3 Japan
10.5.4 India
10.5.5 Rest of APAC
10.5.6 Asia Pacific Market, By Technology
10.5.7 Asia Pacific Market, By Component
10.5.8 Asia Pacific Market, By End User
10.6 Smart Manufacturing Market – LAMEA
10.6.1 Overview
10.6.2 Middle East & Africa (MEA)
10.6.3 Latin America
10.6.4 Rest Of World
10.6.5 Latin America, Middle East and Africa Market, By Technology
10.6.6 Latin America, Middle East and Africa Market, By Component
10.6.7 Latin America, Middle East and Africa Market, By End User
11.1 Market Share/Positioning Analysis
11.1.1 Market Positioning of Key Vendors, 2019
11.1.2 Key Strategies Adopted by the Leading Players
11.1.3 Recent Developments
12.1 ABB
12.1.1 Business Fundamentals
12.1.2 Financial Snapshots
12.1.3 Product Portfolio
12.1.4 Recent Developments
12.2 Rockwell
12.3 Emerson Electric
12.4 Schneider
12.5 Siemens
12.6 IBM
12.7 General Electric
12.8 Honeywell
12.9 Texas Instruments Incorporated
12.10 Mitsubishi Electric Corporation
*More than 10 Companies are profiled in this Research Report*
*Financials would be provided on a best efforts basis for private companies”
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