Global Stud Welding Machine Market Expected to Grow Substantially Owing to Significant Expansion of Key Industry Verticals Across the World [230-Pages] | Calculations by Research Dive

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24 Apr, 2023, 10:59 GMT

The global stud welding machine market is expected to grow primarily due to significant expansion of key industry verticals. Steel sub-segment is expected to flourish immensely. The market in the Asia-Pacific region is predicted to grow at a high CAGR by 2031.

NEW YORK, April 24, 2023 /PRNewswire/ -- Global Stud Welding Machine Market Forecast Analysis:

As per the report published by Research Dive, the global stud welding machine market is expected to register a revenue of $1,678.8 million by 2031 at a CAGR of 5.1% during the forecast period 2022-2031.

Segments of the Stud Welding Machine Market

The report has divided the market into the following segments:

  • Type of Arc Ignition: drawn arc stud welding and capacitor discharge stud welding
    • Drawn Arc Stud Welding – Fastest growth by 2031
      The wide use of drawn arc stud welding due to its advantages such as uniform quality, high duty cycle, etc., is expected to push the growth of this sub-segment further.
  • Material: steel, aluminium, copper, and brass
    • Steel – Highest market share in 2021
      Growing use of stud welding technique in ship building industry where steel is most widely utilized is expected to augment the growth rate of the market in the 2022-2031 timeframe.
  • Stud Diameter: below 3 mm, 3-12 mm, 12-18 mm, and 18 mm and above
    • 3-12 mm– Most profitable in 2021
      The rising application of 3-12 mm studs in various sectors including transportation, shipbuilding, marine, and automotive is expected to propel the sub-segment forward.
  • Operation: automatic and semi-automatic
    • Semi-automatic – Most lucrative in 2021
      The ability of semi-automatic welding equipment to maintain a high level of control while doubling the output of the manual welder has led to an increase in its usage which is anticipated to push the market forward.
  • End-use Industry: automotive, shipbuilding, electric goods, construction, farm, and others
    • Construction – Most lucrative in 2021
      The growing usage of stud welding in construction of buildings, bridges, etc., is anticipated to push the market forward.
  • Region: North America, Europe, Asia-Pacific, and LAMEA
    • Asia-Pacific – Significant market share in 2021
      The rapidly increasing heavy engineering and construction projects in this region is predicted to propel the market in the forecast period.

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Dynamics of the Global Stud Welding Machine Market

The significant expansion of key industrial verticals such as construction, automotive, etc., is expected to make the stud welding machine market a highly profitable one in the forecast period. Additionally, rising demand for domestic goods is predicted to propel the market forward. However, according to market analysts, lack of skilled workers might become a restraint in the growth of the market.

The ability of stud welding machines to work seamlessly with different kinds of welding studs such as stainless steel, copper, carbon steel, aluminium, etc., is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, expansion of shipbuilding industry is expected to propel the stud welding machine market forward in the coming period.

COVID-19 Impact on the Stud Welding Machine Market

The Covid-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The stud welding machine market, too, was negatively impacted due to the pandemic. The lockdowns and import-export restrictions severely affected the automotive, shipbuilding, and construction sectors which led to a decrease in demand for stud welding machines. This decline in demand brought down the growth rate of the market in the pandemic period

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Key Players of the Stud Welding Machine Market

The major players of the market include

  • STANLEY Engineered Fastening
  • ChangZhou Jinda Welding Co. Ltd.
  • HEINZ SOYER BOLZENSCHWEISSTECHNIK GMBH
  • Midwest Fasteners Inc.
  • HBS Bolzenschweiss-Systeme GmbH & Co. KG
  • Cruxweld Industrial Equipments Private Limited
  • Bolte GmbH
  • Taylor Studwelding Systems Ltd
  • TFP Corporation
  • KÖSTER & CO. GMBH

These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.

For instance, in September 2021, IVOSTUD, a leading automated stud welding machine manufacturing company, announced the acquisition of OBTEC's welding stud section. OBTEC is a global leader in high-quality fastening elements manufacturing and this acquisition is predicted to boost the market share of IVOSTUD significantly in the coming period.

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What the Report Covers

Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)

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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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