The global welding equipment market is poised to grow by USD 2.54 billion during 2020-2024, progressing at a CAGR of nearly 5% during the forecast period. Request free sample pages

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

Read the 120-page report with TOC on "Welding Equipment Market Analysis Report by End-user (Automotive, Construction, A and D, Shipbuilding, and Others), Geographic segmentation (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2020-2024".

https://www.technavio.com/report/welding-equipment-market-industry-analysis

The market is driven by the emergence of friction stir welding technology in automotive sector. In addition, the emergence of laser welding equipment is anticipated to boost the growth of the welding equipment market.

The friction stir welding technology is gaining popularity in the automotive industry as it carries out whole process under low operating temperature to prevent mechanical distortion. The products that are manufactured using this technology possess high integrity and are defect-free. This process has varied advantages such as improved mechanical properties, low operating cost, and ability to handle variations in the production process. The use of this technology helps in minimizing the overall weight of the automotive and consumes less power in comparison to welding processes. Thus, the emergence of friction stir welding technology in automotive sector is expected to drive market growth during the forecast period.

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Major Five Welding Equipment Market Companies:

ACRO Automation Systems Inc.

ACRO Automation Systems Inc. operates the business under various segments such as Services, Solutions, and Spare and replacement parts. The company offers Automated Welding Solutions. The company also provides retool and rebuild services, quality assurance process services, customer service and training services, and more.

AMADA HOLDINGS Co. Ltd.

AMADA HOLDINGS Co. Ltd. offers products through the following business units: Metalworking Machinery business and Metal Machine Tools business. The company offers laser welding equipment and resistance spot welding. The company also provides punch presses, press brakes, and laser machines.

Banner Welding Inc.

Banner Welding Inc. operates under various business segments, namely Automation, Standard Resistance Welders Product Line, and Contract manufacturing. The company offers welding equipment such as longitudinal type seam welder, press type roller ram welder, coil joining welder, frame welder, and more.

Colfax Corp.

Colfax Corp. offers products through the following business segments: Air and Gas Handling and Fabrication Technology. The company offers welding equipment under the brand name ESAB. The company also supplies industrial centrifugal and axial fans, ventilation control systems and software, gas compressors, and more.

Fronius International GmbH

Story continues

Fronius International GmbH offers products through the following business segments: PERFECT WELDING, SOLAR ENERGY, and PERFECT CHARGING. Through the PERFECT WELDING, the company offers a wide range of manual and robotic welding equipment. The company also provides automation services, manual welding equipment, and more.

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Welding Equipment Market End-user Outlook (Revenue, USD Billion, 2020-2024)

Welding Equipment Market Geographic Outlook (Revenue, USD Billion, 2020-2024)

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View source version on businesswire.com: https://www.businesswire.com/news/home/20200305005298/en/

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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: media@technavio.com Website: https://www.technavio.com

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Global Welding Equipment Market 2020-2024 | Evolving Opportunities with ACRO Automation Systems Inc. and AMADA HOLDINGS Co. Ltd. | Technavio - Yahoo...