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The friction stir welding equipment market share is expected to increase by USD 989.95 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 9.98%.
This friction stir welding equipment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers friction stir welding equipment market segmentation by end user (automotive industry, aerospace industry, railway industry, shipbuilding industry, and others) and geography (APAC, North America, Europe, and South America). The friction stir welding equipment market report also offers information on several market vendors, including Concurrent Technologies Corp., FOOKE GmbH, Gatwick Technologies Ltd., HFW Solutions LLC, Hitachi High-Technologies Corp., Manufacturing Technology Inc., Midea Group (KUKA AG), Norsk Hydro ASA, PaR Systems LLC, and Yamazaki Mazak Corp. among others.
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The growing demand from automotive industry is notably driving the friction stir welding equipment market growth, although factors such as need for huge investments in r&d of new welding technology may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the friction stir welding equipment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Friction Stir Welding Equipment Market Driver
An increase in the installation of the automated welding assembly line is the major driver influencing the friction stir welding equipment market growth. Various advantages of the automated assembly include reduced production cycle, increased accuracy, and labor-saving and increase in safety. Reduced production cycle time As machines are programmed for a specific task and work until it is stopped or reprogrammed, the production cycle times can be managed to provide the most efficient and consistent process.Increased accuracyThe programming of machines for specific parameters increases the accuracy in parts compared with human labor. This reduces the chances of errors. Automation also allows the addition and modification of several operations.Labor-saving and safetyThe efficiency of automated processes has reduced labor costs. This enables financial savings for both manufacturers and customers. Also, some production processes may be dangerous when done manually. The use of machines for such work increases the safety of employees.
Key Friction Stir Welding Equipment Market Trend
Enhancement in services offered by vendors is the major trend influencing the friction stir welding equipment market growth. End-user industries are undergoing many technological changes to increase their productivity. To support and meet the requirement of end-users, FSW manufacturers are improving their technologies. For instance, they offer services such as welding information management systems.Welding information management systemsWelding information management systems provide real-time data that help improve productivity and quality. They automatically collect and report arc starts, arc-on time, and quality performance based on amperage and voltage. Such systems help increase the competition between players. Such developments are expected to drive the global FSW equipment market during the forecast period
Key Friction Stir Welding Equipment Market Challenge
The need for huge investments in R&D of new welding technology is the major hindrance to the friction stir welding equipment market growth. Industries like automotive, aerospace, shipbuilding, and railway, power, energy, and heavy machinery are focusing on upgrading technologies that will enhance their productivity, performance, and safety. The demand for technologically upgraded products of robotics, gantry systems, or work cells is increasing as they help speed up the production process, produce better quality products, and reduce the cost of production. For instance, manufacturers of automation systems are striving to manufacture robots with multipurpose welding applications. However, with maturing technology for welding robots, upgrading robotic sensors, sensing techniques, and industrial robotic welding systems for use in modern-day robotic techniques is a complex process. Also, offering these technologies at a low price is difficult because of the declining profit margins on robot sales. Although the automotive welding manufacturers are trying to improve the production processes, the R&D of advanced welding technologies requires huge investments.
This friction stir welding equipment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Technavio categorizes global friction stir equipment market is a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the friction stir welding equipment market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the friction stir welding equipment market encompasses successful business strategies deployed by the key vendors. The friction stir welding equipment market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The friction stir welding equipment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the friction stir welding equipment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global industrial machinery market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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