E Beam High Voltage Market Size, Share, Growth, and Industry Analysis by Type (Welding and Coating Film) By Application (Below 10KW and Above 10KW), Regional Forecast To 2031

Updated On: 08 April 2024

E beam High Voltage Market REPORT OVERVIEW

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The global E beam high voltage market size was USD 768.8 million in 2021 and is projected to touch USD 2341.37 million by 2031, exhibiting a CAGR of 11.8% during the forecast period. 

A high-voltage power supply designed for use in E-beam applications is referred to as E-beam high voltage technology. Electron beam (e-beam) technology takes advantage of electrons' potential in industrial processing to achieve better results. It provides a viable alternative to existing industrial processes, which are typically energy intensive and include chemicals that are potentially hazardous to the environment. Electron-beam (E-beam) processing is a technique for treating objects that involves the use of high-energy electrons. This procedure could take place in a nitrogen-rich environment with high temperatures.

E-beam high voltage (HV) technology is increasingly being used in a range of applications, including cable isolation, welding, and coating films. As major corporations continue to innovate new technologies through research and development efforts, demand for E-beam high voltage products is expanding. Other factors driving growth in the global market include growing country economic growth and rising consumer inclination for improved services. However, the significant investment required in E beam high voltage technology, and unpredictable economic situations, are expected to stymie market expansion over the projection period.

COVID-19 Impact: Supply Chain Disruption and Lockdown Restrictions to Impede Market Progress

The COVID-19 outbreak had a minor impact on the E beam high voltage sector. Welding is primarily employed in the metalworking, automotive, aerospace, and foundry industries, all of which were hard hit during the COVID-19 pandemic. To stop the epidemic from spreading, most governments have put their country on lockdown. Therefore, activity in these sectors were temporarily halted, affecting product demand during the pandemic.

LATEST TRENDS

"Increasing Demand for Transmission and Distribution Networks to Foster Market Growth"

Factors such as rising electricity output and consumption, and shifting power generation sector dynamics, are likely to fuel demand for new transmission and distribution networks, which will in turn fuel the E beam high voltage market. With the increased use of renewable energy for power generation, demand for new grids and distribution lines is predicted to rise, propelling the market forward throughout the forecast period. With the increase in electrification projects in Africa, cables are being utilized for transmission and distribution networks from power generation. Rural electrification in African and Asian countries is predicted to provide a huge potential for cable accessory manufacturers.

E beam High Voltage Market Segmentation

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• By Type Analysis

By type, the market is segmented into Welding and Coating Film

Above 10KW is the leading segment because of its adoption in heavy automobiles. E-beam high voltage technology is a high-tech power supply for E-beam applications. The electron beam (E-beam) technology makes effective use of the potential of electrons in industrial operations. E beam processing includes treating an object with high-energy electrons. These factors are likely to boost the E beam high voltage market progress. 

• By Application Analysis

Based on applications, the market is classified into Below 10KW and Above 10KW

The welding segment is expected to hold the largest market share because the electron beam welding can be used to join any metal, including refractory metals and chemically active metals, which are difficult to weld with other methods. Furthermore, electron beam welding may combine incompatible metals, boosting sector growth even more. These factors may propel the E beam high voltage market growth.

DRIVING FACTORS

"Increasing Demand from Welding Applications to Foster Market Growth"

Electron beam welding is a high-precision, sophisticated welding technology used in a wide range of industries, including automotive, aerospace and defense, medical, oil and gas, nuclear, and many instrumentation applications. These industries use electron beam welding for a variety of reasons, including joining similar and dissimilar materials, welding complex components used in spacecraft or automobile parts, large-scale welds with repeatable accuracy and quality control, high welding speed, narrow welds, and a cost-effective process due to single-pass welding.

"Increasing Demand from Automotive Industry to Boost Market Growth"

Electron beam devices are heavily used in the rapidly changing automobile sector around the world. Increased automobile production in the majority of countries, and potential benefits such as increased stiffness due to electron beam welding, which leads to improved vehicle structural performance, a smaller heat-affected zone, and less thermal distortion due to the use of electron beam, are expected to drive market growth. Furthermore, the demand for welding of small to big & important automobile components such as gear gears, shafts, and turbochargers is likely to propel the automotive industry's rise in the global E beam high voltage market.

RESTRAINING FACTORS

"High Installation and Government Regulations to Impede Market Progress"

The E beam high voltage market is likely to be hampered by issues such as complex project planning, regulatory delays, and finance constraints for power projects on a global scale. Stringent environmental and safety standards governing the E beam high voltage business are a stumbling block.

E beam High Voltage Market REGIONAL INSIGHTS

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"Increasing Investments to Foster Market Growth in Asia-Pacific"

Asia Pacific is projected to dominate the E beam high voltage market share. Electricity is not available in some remote and rural areas of several countries due to insufficient transmission and distribution networks. The countries in the region are heavily investing in transmission line networks to supply electricity to these areas. During the forecast period, the expansion of these networks is likely to see considerable increase, which will boost the E beam high voltage market in the region. China's power transmission and distribution grid has undergone considerable upgrades and alterations in order to be able to transport more electricity and meet future demand. Therefore, factors such as expansions and upgrades, particularly in the Asia-Pacific region, are likely to have a beneficial impact on the E beam high voltage market.

Europe is the leading exporter of electron beam machines to other regions, with growing demand for EB welding technology in the automotive and aerospace industries due to large-scale production of automobiles and the presence of aircraft manufacturers in the European region, and the presence of major players serving all major electron beam machining applications such as welding, surface treatment, and drilling.

KEY INDUSTRY PLAYERS

"Incorporation of Strategies for Increasing Product's Adoption to Help Companies Grow"

With a large market share, prominent corporations are focusing on expanding their customer base to other regions. Strategic partnership initiatives are being used by these companies to increase their market share and profitability. Due to technological advancements and product breakthroughs, mid-size and smaller enterprises are extending their market presence by acquiring new contracts and entering new markets. The primary goal for the entire industry is organic growth, with a focus on mergers and acquisitions to expand presence and product offerings. Market companies are also prioritizing product launches to expand product alternatives and meet consumer expectations in the lighting of E beam high voltage.

List of Market Players Profiled

• Advanced Energy Industries, Inc.
• Excelitas Technologies Corp.
• Spellman
• JEOL
• BeamTec
• The iseg Spezialelektronik GmbH
• Ferrotec (USA) Corporation

REPORT COVERAGE

The research is based on firsthand knowledge, qualitative and quantitative analysis by industry analysts, and contributions from industry experts and participants across the value chain. The research examines parent market trends, macroeconomic data, and controlling factors in depth, and market appeal by segment. The qualitative influence of key market factors on market segments and regions is also mapped out in the report.