Friction Stir Welding Equipment Market Report Overview
-
Request a Free Sample to learn more about this report
The global friction stir welding equipment market size was 246.61million in 2021 and is expected to reach USD 461.6 million in 2027, exhibiting a CAGR of 11.01% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over.
Friction stir welding is a solid-state joining process that uses a non-consumable tool to join two facing work pieces without melting the workpiece material. Heat is generated by friction between the rotating tool and the workpiece material, which leads to a softened region near the FSW tool. Welding is a process in which two metals are joined together to form the product of required shape and size. Friction stir welding is a type of welding process in which, the material is not melted unlike the other welding processes such as arc welding processes. Friction stir welding is used in diverse uses such as automotive, aerospace, shipbuilding, and robotics. The automotive industry is one of the fastest-growing industries in different countries through the world. It depend on a non-consumable tool that swaps and drops into the interface of the work piece and then moves through it by using frictional heat that softens the material. Friction stir welding process is used for joining diverse types of materials such as magnesium alloys, stainless steel, mild steel, titanium alloys, copper alloys, and aluminum alloys. Two different metals such as magnesium alloys to aluminum can also be joined together by using friction stir welding process. With the help of decent superiority welding tool, the welding speed and quality of the weld can be improved. The material used for manufacturing the welding tool must be tough, strong, and should be able to bear high welding temperatures. The tool must have low thermal conductivity and good oxidation resistance so that heat loss can be diminished. Participating are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth.
COVID-19 Impact: Pandemic Hampered the Market Due To Unexpected Disruption In The Sector
Covid 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. Covid 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.
Latest Trends
"Use of Innovative Products To Boost The Market Growth "
Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.
Friction Stir Welding Equipment Market Segmentation
-
Request a Free Sample to learn more about this report
- By Type Analysis
According to type, the market can be segmented into desktop equipment, gantry equipment, others.
Desktop equipment capture the maximum market share through forecast period.
- By Application Analysis
According to application, the market can be segmented into aerospace, automotive, shipbuilding, railways, others.
Friction stir welding equipment market players cover segment as automotive will dominate the market share during forecast period.
Driving Factors
"Increasing Usage In Industrial Sector To Boost The Market Growth"
The friction stir welding process is broadly used in the automotive industry to weld various parts of the vehicle. "Growing demand for vehicles across the world, is widely adopting friction stir welding equipment. This process enhanced mechanical features to the end product improved process strength, obstruction to stringency and exhaustion. Increasing use of "friction stir welding equipment in the industrial sector has augmented the market growth.
"Technological Advancement And Development To Upsurge The Market."
Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the friction stir welding equipment market growth. Growing investment in research and development activities and growing awareness about benefits of indoor sports flooring are expected to deliver profitable opportunities for the market. Constant development are one of the trends in the market in variety of practices.
Restraining Factor
"Lack Of Skilled And Qualified Workforce To Hamper The Market Growth"
Lack of knowledge is hampering development of friction stir welding equipment market. Lack of skilled and qualified workforce and improper training of users are expected to deplete the market growth. If the worker is not aware about the process, then the company has to invest both time and the money to train the worker. Technical difficulties will reduce the industry revenue.
Friction Stir Welding Equipment Market Regional Insights
-
Request a Free Sample to learn more about this report
"Asia Pacific To Dominate The Region Due To Rise In High-Quality Products From Several Major End-Use Industries"
Asia Pacific is further expected to witness growth in the friction stir welding equipment market share. The region is dominating the market due to rise in demand for high-quality products from several major end-use industries, such as aerospace and automotive, along with increasing R&D activities related to advanced stir welding technologies. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.
Key Industry Players
"Key players focus on partnerships to gain competitive advantage."
The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger.
List of Market Players Profiled
- Schlumberger (U.S.)
- KUKA (Germany)
- Norsk Hydro (Norway)
- Hitachi High-Technologies (Japan)
- Colfax (U.S.)
Report Coverage
The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 246.61 Million in 2021 |
Market Size Value By |
US$ 461.6 Million by 2027 |
Growth Rate |
CAGR of 11.01% from 2021 to 2027 |
Forecast Period |
2022-2027 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
-
What value is the friction stir welding equipment market expected to touch by 2027?
Friction stir welding equipment market is expected to touch USD 461.6 million by 2027.
-
What CAGR is the friction stir welding equipment market expected to exhibit during 2021-2027?
Friction stir welding equipment market is expected to exhibit CAGR of 11.01% during 2021-2027.
-
What are the driving factors of the friction stir welding equipment Market?
Increasing use in industrial sector and technological advancement and development to upsurge the friction stir welding equipment market.
-
Which are the key players or most dominating companies functioning in the friction stir welding equipment market?
The dominating companies in the market are Schlumberger, KUKA, Norsk Hydro, Hitachi High-Technologies, and Colfax are the key players or most dominating companies functioning in the friction stir welding equipment market.