COVID-19 Impacts: Welding Equipment Market will Accelerate at a CAGR of almost 5% through 2020-2024 | Use of Friction Stir Welding Technology to Boost Growth | Technavio

Technavio has announced its latest market research report titled Global Welding Equipment Market 2020-2024 (Graphic: Business Wire)

LONDON--()--Technavio has been monitoring the welding equipment market and it is poised to grow by USD 2.54 billion during 2020-2024, progressing at a CAGR of almost 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on COVID-19 Impact

Frequently Asked Questions-

  • What was the value of the welding equipment market in 2019?
  • Technavio says that the value of the market was USD 9.7 billion in 2019 and it is projected to reach USD 12.24 billion by 2024.
  • At what rate is the market projected to grow during the forecast period 2020-2024?
    A. Growing at a CAGR of almost 5%, the market growth will accelerate in the forecast period.
  • What is the key factor driving the market?
    A. Use of friction stir welding technology.
  • Who are the top players in the market?
    A. ACRO Automation Systems Inc., AMADA HOLDINGS Co. Ltd., Banner Welding Inc., Colfax Corp., Fronius International GmbH, Illinois Tool Works Inc., Lincoln Electric Holdings Inc., Obara Group Inc., Panasonic Corp., and voestalpine AG are the top players in the market.
  • Which region is expected to hold the highest market share?
    A. APAC

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ACRO Automation Systems Inc., AMADA HOLDINGS Co. Ltd., Banner Welding Inc., Colfax Corp., Fronius International GmbH, Illinois Tool Works Inc., Lincoln Electric Holdings Inc., Obara Group Inc., Panasonic Corp., and voestalpine AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The use of friction stir welding technology has been instrumental in driving the growth of the market. However, increased R&D expenses led by the introduction of new welding technologies might hamper market growth.

Welding Equipment Market 2020-2024: Segmentation

Welding Equipment Market is segmented as below:

  • End-user
    • Automotive
    • Construction
    • A And D
    • Shipbuilding
    • Others
  • Geography
    • APAC
    • North America
    • Europe
    • South America
    • MEA

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40473

Welding Equipment Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our welding equipment market report covers the following areas:

  • Welding Equipment Market size
  • Welding Equipment Market trends
  • Welding Equipment Market industry analysis

This study identifies the increasing demand for wind farms as one of the prime reasons driving the welding equipment market growth during the next few years.

Welding Equipment Market 2020-2024: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the welding equipment market, including some of the vendors such as ACRO Automation Systems Inc., AMADA HOLDINGS Co. Ltd., Banner Welding Inc., Colfax Corp., Fronius International GmbH, Illinois Tool Works Inc., Lincoln Electric Holdings Inc., Obara Group Inc., Panasonic Corp., and voestalpine AG. Backed with competitive intelligence and benchmarking, our research reports on the welding equipment market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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Welding Equipment Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist welding equipment market growth during the next five years
  • Estimation of the welding equipment market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the welding equipment market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of welding equipment market vendors

Table of Contents:

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user placement
  • Automotive - Market size and forecast 2019-2024
  • Construction - Market size and forecast 2019-2024
  • A and D - Market size and forecast 2019-2024
  • Shipbuilding - Market size and forecast 2019-2024
  • Others - Market size and forecast 2019-2024
  • Market opportunity by End-user

Customer Landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver - Demand led growth
  • Volume driver - Supply led growth
  • Volume driver - External factors
  • Volume driver - Demand shift in adjacent markets
  • Price driver - Inflation
  • Price driver - Shift from lower to higher-priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • ACRO Automation Systems Inc.
  • AMADA HOLDINGS Co. Ltd.
  • Banner Welding Inc.
  • Colfax Corp.
  • Fronius International GmbH
  • Illinois Tool Works Inc.
  • Lincoln Electric Holdings Inc.
  • Obara Group Inc.
  • Panasonic Corp.
  • voestalpine AG

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The Global Welding Equipment Market will grow by USD 2.54 bn during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/