Global Stud Welding Machine Market Is Expected to Reach $1.7 Billion by 2031: Allied Market Research
The significant expansion of key industry verticals like construction, automotive & robotics, aerospace and shipbuilding, which are increasingly dependent on the use of stud welding machines in their manufacturing processes drive the growth of the global stud welding machine market. Region-wise, the market in Asia-Pacific is likely to dominate in terms of revenue during the forecast period 2022 to 2031.
Portland,OR, March 21, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global stud welding machine market generated $1 billion in 2021, and is estimated to reach $1.7 billion by 2031, witnessing a CAGR of 5.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
Market Size in 2021
Market Size in 2031
No. of Pages in Report
Type Of Arc Ignition, Material, Stud Diameter, Operation, End-Use Industry, and Region
The significant expansion of key industry verticals like construction, automotive & robotics, aerospace and shipbuilding, which are increasingly dependent on the use of stud welding machines in their manufacturing processes
Existing and emerging applications of stud welding machine across industrial, electronics, mechanical, and heating & ventilation sectors
The rise in demand for domestic goods
Stud welding process requires proper inspection and planning before commencing the welding
The outbreak of the COVID-19 pandemic had a negative impact on the market. This is due to the decline in the demand for stud welding from end-use industries such as construction, automotive, and others.
The shutdown of manufacturing & production facilities and reduced construction activities caused disruptions in the manufacturing and production processes.
Furthermore, import-export restrictions, low availability of manpower, economic crisis, and closed borders had a drastic impact on the stud welding machine market sales.
The report offers a detailed segmentation of the global stud welding machine market based on type of arc ignition, material, stud diameter, operation, end-use industry, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on type of arc ignition, the drawn arc stud welding segment held the largest share in 2021, accounting for more than half of the global stud welding machine market and would dominate the market in terms of revenue through 2031. The same segment is estimated to witness the fastest CAGR of 5.4% during the forecast period. The report also discusses the capacitor discharge stud welding segment.
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In terms of material, the steel segment captured the largest market share of more than one-third of the global stud welding machine market in 2021 and is expected to dominate the market in terms of revenue through 2031. However, the aluminium segment is likely to achieve the fastest CAGR of 5.7% through 2031. The report also offers an analysis of the brass and copper segments.
In terms of stud diameter, the 3-12 mm segment captured the largest market share of more than one-third of the global stud welding machine market in 2021 and is expected to lead the trail during the forecast period. The same segment is likely to achieve the fastest CAGR of 5.6% through 2031. The report also studies the 3 mm, 12-18 mm, and 18 mm and above segments.
Based on region, the market in Asia-Pacific was the largest in 2021, accounting for over one-third of the global stud welding machine market in 2021 and is likely to maintain its dominance during the forecast period. The same market is expected to manifest the highest CAGR of 5.7% from 2022 to 2031. The other regions analyzed in the study include North America, Europe and LAMEA.
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Leading Market Players:
Leading players of the global stud welding machine market analyzed in the research include Stanley Engineered Fastening, Midwest Fasteners Inc., Bolte GmbH, KÖSTER & CO. GMBH, ChangZhou Jinda Welding Co., Ltd., HBS Bolzenschweiss-Systeme GmbH & Co. KG, Taylor Studwelding Systems Ltd., Heinz Soyer Bolzenschweisstechnik GmbH, Cruxweld Industrial Equipments Private Limited, and TFP Corporation.
The report analyzes these key players of the global stud welding machine market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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