Over the past few decades, automation is rapidly penetrating the manufacturing sector. Technology is accelerating with an unceasing profusion of smart sensors, systems, and instruments. These advances are bringing stability to the industrial automation which is gaining ground in the current scenario. Furthermore, industrial automation is boosting the growth of the manufacturing sector. The value-added manufacturing experienced an increment in annual growth rate from 1.6% in 2016 to 3.4% in 2017. The growth is reflecting in the small-scale, specialized and fragmented markets in the industrial sectors. Furthermore, these sectors are becoming a hotbed of new products in industrial automation and controls. These systems include control elements, valves, diaphragm bellows, metal bellows, temperature sensor, formed tube, actuators, and improved sensors. High-precision along with flexibility are the fundamental drivers constituting the growth of these products. In high- hydraulic and mechanical applications, metal bellows are widely used for flight control, firing mechanism, pipes, and safety purposes. Metal bellows serve a crucial role in increasing efficiency in its end-user industries. On the other hand, welded metal bellows are growing in the metal bellow market owing to their high-temperature and pressure-resistant properties making them exceptionally adaptable and useful in the precision-oriented applications such as aerospace, oil and gas industries. As a result, the welded metal bellow market growth is accelerating with the rising demand for high precision applications in the industrial sectors.
The global Welded Metal Bellow Market size has attained a value of $320 million in 2018. Furthermore, the demand is projected to grow at a CAGR of 5.7% during the forecast period 2019-2025.
Rising Demand for the Oil and Gas Sector Boosting the Growth of the Edge Welded Metal Bellow Market
Global energy demand is rising significantly for the past few years. The world energy production has increased by 2.2% during 2016-2017. The demand will further rise with the growing population rate. Oil and gas along with other renewable energy plants have a major demand for advanced instrumentation which is responsive for recurring use and have the ability to endure high temperature, pressure, and corrosive environments. Metal bellows in accumulators, actuators, mechanical seal and vibration damping are major used for oil and gas applications. These applications include wireline, drilling, and lifting. Mechanical actuation and thermal activation characteristics of welded metal bellows are beneficial in these harsh environments. Besides, edge-welded metal bellows can be manufactured using different materials which include stainless steel, Inconel, and titanium, etc. Stainless steel and Inconel exhibit enhanced resistance to chemicals such as hydrogen sulfide which are produced in the oil and gas industry, thereby making these materials apt for this industry.
Edge welded metal bellow seals find proliferated benefits in the oil and gas sector. A typically welded metal bellow seal is used in the refrigerant compressor. They offer inherent hydraulic balance and low axial operating face load in the energy applications. The necessity to meet stringent emission regulations amended by different countries are increasing the latent demand to reduce leakage rates in the oil and gas segment. Subsequently, this demand is coupled with the need to reduce the cost of replacing refrigerant gases as well as the emission containment seals are further boosting the demand for edge welded metal bellow seals in the oil and gas sector. With these potential benefits in this segment, the edge welded metal bellow market demand is rising in the oil and gas sector.
51mm-100mm Diameter Applications Proliferating in the Global Welded Metal Bellow Market
In the global welded metal bellow market, 51mm-100mm diameter range product type is widely used and this segment is anticipated to rise at a CAGR of 6.3% over the foreseen period. Metal bellows which are used as expansion joints or compressors for process equipment, pneumatic connections, and piping systems are dominantly classified as 51mm-100mm diameter range. These welded metal bellow expansion joints are highly versatile owing to their diverse tensile strengths achieved during the manufacturing process. They compensate for mounting misplacements and thermal expansion in piping systems. Flexibility, pressure resistance, and tightness of welded metal bellows allow them to take significantly intense loads in high-pressure applications. As a result, 51mm-100mm diameter welded metal bellows are finding expedited applications in pipes, safety, flight control, and firing mechanism. Therefore, the 51mm-100mm diameter range segment is surging in the global welded metal bellow market.
Industrialization in APAC Set to Drive the Welded Metal Bellow Market
APAC is a dominant region in the welded metal bellow market and accounted for a share of 38.7% in 2018. APAC countries such as China, Japan, and India are the powerhouse of the growing industrial sector. The rising industrialization in these countries is transforming the structure of production which is further influencing the development strategies and demand for end-user products. Furthermore, “Made in China” and “Make in India” initiatives by China and India are increasing the growth of dominant markets of these countries such as automotive, semiconductor, and other industries. China, India, and the U.S together account for about 70% of the rising energy demands. Also, China is a leader in the renewable energy market which is further boosting the growth of the welded metal bellow industry.
APAC is a bedrock for the chemical industry, another end-user of the welded metal bellow market, contributed $2.6 trillion total GDP production. Within that, China led the path with a share of $1.5 trillion GDP contribution to the chemical sector. Consequently, with this strong endeavors of the end-user industries of APAC, the welded metal bellows market share of this region is garnering huge demand.
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Global Welded Metal Bellow Market Share – Key Players
The core companies operating with a dominant share in the global welded metal bellow market are KSM Vacuum Products Inc., The BOA Group, Technetics Group, AESSEAL, Senior Aerospace Metal Bellows, Metalflex, Duraflex Inc., MIRAPRO Co., Ltd., Flex-A-Seal, Inc., Hyspan Precision Products, Inc., Weldmac Manufacturing Co, and BellowsTech, LLC.
A Few of the latest updates in the welded metal bellow industry include:
· In 2018, Satair, global supply, and distributor of aircraft parts based in Copenhagen, Denmark has signed a new distribution agreement with Senior Metal Bellows. This new distribution agreement is an extension of the existing agreement which is signed in 2017. As part of this agreement, Satair continues to cover the aftermarket products such as thermal valves, bellows, accumulators, compressors, and feedthroughs of Senior Metal Bellows in the commercial aerospace aftermarket segment.
· In 2018, MW Industries, Inc. (MWI), a global manufacturer of machines, engines, and sub-assemblies acquired Ameriflex, Inc. The latter is a leader in the manufacturing of precision-formed metal bellows and bellows assemblies. With this acquisition, Ameriflex will become a part of the Aerospace & Technologies group of the MW Industries family. This acquisition enables to expand MW industries product portfolio, technologies in semiconductor, aerospace, and microelectronics industries.
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