According to a new market report published by Transparency Market Research on the resistance spot welding machines market for the forecast period of 2019–2027, the resistance spot welding machines market is expected to reach a value of US$ 400 Mn by the year 2027.
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Global Resistance Spot Welding Machines Market: Overview
- The global resistance spot welding machines market was valued at US$ 250 Mn in 2018, and is expected to expand at a CAGR of 5.5% from 2019 to 2027. The global resistance spot welding machines market is expanding significantly in terms of value.
- Asia Pacific is the largest resistance spot welding machines market, and is expected to maintain its dominance over the forecast period of 2019 to 2027.
- Resistance spot welding machines are used in sheet metal processing, production of nut & bolts, leak proof joints in small tanks & boilers, pipes & tubes, etc.
Resistance Spot Welding Machines Market: Driving Factors
- Growing production of passenger and commercial vehicles across the world is anticipated to fuel the demand for resistance spot welding machines during the forecast period.
- Additionally, according to data published by the International Organization of Motor Vehicle Manufacturers, 2018, total commercial vehicle production, worldwide, stands at 25136912 units, out of which, the U.S. accounted for the highest share of approximately 33%, followed by China with 17%.
- Global energy infrastructure investments are also expected to drive the growth of the resistance spot welding machines market during the forecast period.
Resistance Spot Welding Machines Market: Key Challenges
- Material, weld force, and energy are important parameters of resistance spot welding machines. Process parameters need to be correctly controlled for good quality welding. The welded joints possess low tensile and fatigue strength. This factor is expected to create significant challenges in the resistance spot welding machines market.
- High electric power is required for the resistance spot welding machine process, and changing welding parameters lead to frequent wear of the electrodes.
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Resistance Spot Welding Machines Market: Competitive Landscape
- The resistance spot welding machines market includes several players focused on the development of new products to cater to market demand.
- The report includes the below-mentioned pointers of major players operating in the resistance spot welding machines market:
- Company Overview
- Product Profiling
- Market Share Analysis (2018)
- Product Innovation
- Business Strategies/Recent Developments
- Technological Advancements
- Key Mergers & Acquisitions
- Expansion Strategies
- Company Financials
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