The Stud Welding Machine Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Stud Welding Machine Global Market Report 2024, The stud welding machine market size has grown strongly in recent years. It will grow from $1.17 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to growth in construction and infrastructure projects, automotive manufacturing expansion, increasing demand for lightweight materials, stringent quality and safety standards, expanding oil and gas exploration.
The stud welding machine market size is expected to see strong growth in the next few years. It will grow to $1.54 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to rise in renewable energy projects, increased adoption in shipbuilding, focus on automation and robotics integration, demand for high-speed and precision welding, expansion of aerospace manufacturing. Major trends in the forecast period include technological innovations in welding materials, advancements in welding technology, rise in automation and integration, increasing demand for high-speed welding, technological advancements in welding equipment.
The growing construction industry is expected to propel the growth of the stud welding machine market going forward. Construction refers to building structures similar as homes, factories, highways, and bridges. Stud welding machines are used in construction to provide fast, efficient, and versatile permanent bond between materials. For instance, in June 2023, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, US-based government administrations, in May 2023, privately owned home starts were occurring at a seasonally adjusted annual pace of 1,631,000, representing an increase of 21.7% in the revised April 2023 prediction of 1,340,000 and 5.7% in the May 2022 rate of 1,543,000. The number of privately owned home completions in May 2023 was 1,518,000 on a seasonally adjusted yearly basis, representing an increase of 5.0% over the May 2022 rate of 1,446,000 and 9.5% above the revised April 2023 estimate of 1,386,000. Therefore, the growing construction industry is driving the growth of the stud welding machine market.
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The stud welding machine market covered in this report is segmented –
1) By Type Of Arc Ignition: Capacitor Discharge Stud Welding, Drawn Arc Stud Welding
2) By Material: Steel, Aluminum, Copper, Brass
3) By Operation: Automatic, Semi-Automatic
4) By End-Use Industry: Automotive, Shipbuilding, Electric Goods, Construction, Farm, Other End-User Industries
Top Major Players
Würth Group
Hilti Group
DAIHEN Corporatio
Nelson Stud Welding Inc.
STANLEY Engineered Fastening
Major companies operating in the stud welding machine market are increasing their focus on introducing energy-efficient and connected stud welding machines, such as Tuck stud welding equipment, to maximize their profits. Energy-efficient connected stud welding machines are designed to consume less power while providing high-quality welding results. For instance, in March 2021, Stanley Engineering Technologies, a US-based machinery manufacturing company, launched a new generation of Tucker stud welding equipment. The new software and hardware design allows the equipment to be integrated into automobile customers’ current communication structures and delivers the essential welding processes for existing lightweight materials. The use of sensor technology reduces the possibility of unscheduled stoppages. The detection and warning of consumable wear is another new function. It has an event-driven and monitored feeding system that reduces cycle time and error-causing factors.
The stud welding machine market report table of contents includes:
1. Executive Summary
2. Stud Welding Machine Market Characteristics
3. Stud Welding Machine Market Trends And Strategies
4. Stud Welding Machine Market – Macro Economic Scenario
5. Global Stud Welding Machine Market Size and Growth
…………………….
32. Global Stud Welding Machine Market Competitive Benchmarking
33. Global Stud Welding Machine Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Stud Welding Machine Market
35. Stud Welding Machine Market Future Outlook and Potential Analysis
36. Appendix
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