According to a new market research report published by Acute Market Reports “Spot Welding Equipment Market (By Type (Press Spot Welding, Butt Spot Welding, Seam Spot welding, Projection Spot Welding, Laser Spot Welding), By Mobility (Fixed, Portable), By Material (Steel, Aluminum and Alloys, Others) By Application (Automotive, Construction, Industrial Manufacturing, Aerospace, Railways, Electronics and Semiconductors, Others)) - Growth, Future Prospects and Competitive Landscape, 2021 - 2029”, spot welding equipment market is estimated to grow at a CAGR of 7.8 % from 2021 To 2029.
The complete report is available at https://www.acutemarketreports.com/report/spot-welding-equipment-market
Market Insights
The automotive manufacturing has portrayed significant growth in the past few years and is estimated to continue at the same rate in the coming years. With the consistent rise in the overall manufacturing industry, adjacent markets such as equipment and machine tools are also showing promising growth globally. Spot welding equipment plays a major role in the overall automotive manufacturing sector by providing services in diversified application.
The demand for spot welding equipment market is majorly driven by the constant rise in the automotive and industrial manufacturing. Rising need for faster and precise fabrication and welding solutions for sheet metals/alloys has resulted in substantial uplift in the demand for spot welding machines. Ability to weld a wide variety of sheet metals, availability of size variants, economical operation and clean working are few of the many merits of spot welding technique. Subsequently, spot welding has witnessed profound penetration in automotive and industrial manufacturing sector over the period of time.
The demand for spot welding equipment witnessed a severe setback due to the COVID-19 pandemic. Numerous ongoing construction projects along with various investments towards construction projects were stalled as a resulted of the lockdown restrictions and economic uncertainties. However, with relaxing lockdown restrictions and favorable government initiatives towards economic recovery, the demand for spot welding equipment is expected to recover post_COVID-19 recovery.
Spot welding equipment market is segmented according to types, mobility, material to be welded, applications and geography. On the basis of type, spot welding is classified as press spot welding, butt spot welding, seam spot welding, projection spot welding and laser spot welding. In 2020, press spot welding segment outruns other types of the overall spot welding equipment market. Further, spot welding equipment market is segmented on the basis of mobility as fixed and portable type machines. Due to extensive use in heavy industries, production, and assembly lines, fixed type spot welding machines acquires the majority of market share as compared to portable spot welding equipment.
Competitive Insights:
Spot welding equipment market is fragmented in nature with multiple international companies facing remarkable competition from regional manufacturers. Major players in the market include AMADA AMERICA, Inc., ARO Welding Technologies SAS, DECA s.p.a., Emerson Electric Company, KRITON WELD EQUIPMENTS PVT. LTD., INTRAN, Miller Electric Mfg. Co., Noble Industries, Inc., Sintec Optronics Pte Ltd., TECHNAX Industrie, T. J. Snow, Co., Vista Industrial Products, Inc., and others. Spot welding manufacturers are focusing on improving the capabilities of existing spot welding machines by enhancing their multi-application spot welding capability. Similarly, promising players in spot welding manufacturing are focusing on their product and brand promotion through trade and industrial fairs.
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