The seam welding machine market is expected to grow from US$ 1,142. 87 million in 2022 to US$ 1,444. 41 million by 2028; it is estimated to grow at a CAGR of 4. 0% from 2022 to 2028. The growing adoption of Industry 4.
New York, Oct. 24, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Seam Welding Machine Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Mode, Operation, and Industry" - https://www.reportlinker.com/p06353511/?utm_source=GNW
0 in manufacturing, automotive, and construction sectors is expected to boost the demand for seam welding machines. The welding equipment or machines needs to be equipped with high-performance information and communication technology, and customized sensors so that all production-relevant information can be digitized and helps manage the necessary real-time behavior of the system.
Data security is another key factor boosting the demand for Industry 4.0 in the seam welding machine market. In addition to a high degree of computerization of the individual production facilities, its integration into local networks, open network structures, and globally valid standards for data security; transfer, and interfaces are necessary. Thus, digital security integration in industry 4.0 is expected to boost the growth of the seam welding machine market.
The manufacturing and automotive industries are shifting toward laser welding technologies as they improve product quality and help reduce production costs.In the automotive sector, a fast assembly line manufacturing process involves laser-based welding operations.
Further, the growing trend of fiber laser welding, and semiconductor laser welding is anticipated to provide new opportunities for the seam welding machine market.Fiber laser welding uses optical fibers for oscillations and semiconductor lasers.
The growing popularity of hybrid laser welding in automotive component manufacturing due to its high welding speeds and strong gap resistance is expected to contribute to market growth during the forecast period.
Asia Pacific holds a substantial share of the overall seam welding machine market owing to the growing energy, shipbuilding, and construction sectors across China, India, and other developing economies.Moreover, enhanced foreign direct investment (FDI) equity inflow supports projects in the oil & gas sector, and aerospace and heavy machinery industries.
Several foreign automobile companies have formed their manufacturing base in China and India.Further, the construction industry is rapidly evolving in these countries due to rising manufacturing business activities involving commercial and noncommercial constructions.
According to the Ministry of Ministry of Micro, Small & Medium Enterprises (MSME), the estimated investment in urban infrastructural projects is US$ 650 billion in India. The total planned investment in India on the infrastructure sector till 2030 is US$ 1.0 trillion.
In 2021, Emerson, Mitusa Inc, Cruxweld, Koike Aronson Inc, and ACT Automotive were the top five players operating in the global seam welding machine market.The seam welding machine market is highly consolidated with several prominent players catering to domestic and international demand.
Further, these players engage in expanding their businesses through activities such as new product launches, market initiatives, investments in technology upgrades, mergers & acquisitions, and other joint activities. For instance, in November 2021, K-TIG, an Australian welding machine manufacturer, expanded its reach across North America with the appointment of MITUSA Inc. as a new Tier 1 distributor to supply its products in the US and Mexico. Further, MITUSA Inc. launched a seam welding unit that uses linear rails with bearing blocks to move as the seam is made on the tube or pipe.
COVID-19 Impact on Seam Welding machine Market Size
The COVID-19 pandemic affected the operations of automotive parts suppliers and assembly line supply chains in North America.A reduced willingness among consumers to make high-cost purchases due to uncertain economic conditions hampered the demand for new cars in 2020.
Welding, along with other industries, suffered the consequences of the uncertain shift in business due to reduced workforce availability, and shutdown of manufacturing facilities.Automotive suppliers faced a year-on-year decrease in operating profits during the COVID-19 pandemic, hampering the seam welding machine market growth.
Due to global supply chain disruptions, manufacturers and distributors faced difficulties replacing their inventory, equipment, or machinery.Importers and exporters of welding machines also found it challenging to bring in or deliver goods across international borders due to restrictions imposed on operations at ports and harbors, which are instrumental in the international exchange of goods.
However, growing demand for seam welding machines from the rapidly expanding economies of Asia Pacific is expected to be a key driving force in producing momentum for a worldwide economic recovery from the effects of the COVID-19 pandemic.
Companies profiled in the seam welding machine market study include Emerson Electric Co.; Dahching Electric Industrial; Franzan; Koike Aronson, Inc.; Leister Technologies; Cruxweld; Miller Weldmaster; Schnelldorfer Maschinenbau; and Spiro International.
The overall seam welding machine market analysis has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the seam welding machine market.
The process also serves the purpose of obtaining overview and forecast of the seam welding machine market size with respect to all market segments.Also, industry participants and commentators have conducted multiple primary interviews to validate the data and gain more analytical insights.
The participants typically involved in the seam welding machine market study include VPs; business development managers; market intelligence managers; national sales managers; and external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the seam welding machine market.
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