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Global Friction Stir Welding Equipment Market Expected to Reach USD 330.1 Million by 2027


Global Friction Stir

iCrowdNewswire   Jan 12, 2021  10:00 AM ET

44_Global Friction Stir Welding Equipment Market Key Takeaways

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Friction Stir Welding Equipment Market by Type, Application, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 186.4 Million in 2019 and is expected to grow at a healthy growth rate of around 7.0% by the year 2027. Friction stir welding in the construction industry has many applications. Aluminum panels can be friction stir welded in advance for construction purposes. Aluminum has several benefits for construction. This, in turn, drives the demand for friction stir welding equipment in construction industry.

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The global friction stir welding equipment market is fragmented based on types, by application, and regions. Based on types, the friction stir welding equipment market has categorized as desktop equipment, gantry equipment, and others. In terms of applications, the friction stir welding equipment market has been segmented into aerospace, automotive, shipbuilding, railways, and others. Based on region, the global friction stir welding equipment market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, Asia Pacific is further segmented into, India, China, South Korea, Australia, Japan, and Rest of Asia Pacific. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, and the MEA region is further divided into GCC Countries, Egypt, Turkey, and Rest of Middle East and Africa.

The effect of COVID-19 is anticipated to be strongly felt in the consumer durable industry due to high dependency of different global industries for imports. Moreover, the pandemic situation has led to the closure of several non-essential businesses reducing the demand for consumer durables in the world, which in turn, is impeding the manufacturing industries worldwide. Since the COVID-19 pandemic is diminishing the end-user demand for daily packaging products worldwide, the demand for friction stir welding equipment is reducing in the short-term.  The COVID-19 effects majorly on manufacturing units which are currently working with 50% workforce. The global supply chain has at the same time slowed down due to restrictions on national borders.

As per GMR industry analyst Vidya Jadhav, “The Global Friction Stir Welding Equipment Market is anticipated to witness significant growth during forecast period 2021-2027. The increasing use of friction stir welding equipment in various application in industries such as aerospace, automotive, shipbuilding, railways, and others is driving the market during the forecast period.“

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Key Takeaways from the Study:

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Report Scope:

Report Metric

Details

Market Value in 2019

USD 186.4 Million

Market Growth Rate (from 2021 to 2027)

7.0%

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 – 2027

Units Considered

Value (USD Million)

Market Segments

By Types , By Applications

Regional Scope

North America, Europe, Latin America, Asia Pacific, Middle East & Africa (MEA)

Country Scope

U.S., Canada, Brazil, Mexico, Rest of Latin America, India, China, Japan, Indonesia, Australia, Rest of Asia Pacific, U.K., France, Germany, Italy, Spain, Russia, Rest of Europe, Saudi Arabia, South Africa, UAE, and Rest of MEA.

Key Companies Profiled

Concurrent Technologies Corp.
FOOKE GmbH
Gatwick Technologies Ltd.
HFW Solutions LLC
Hitachi High-Technologies Corp.
Manufacturing Technology Inc.
Midea Group (KUKA AG)
Norsk Hydro ASA
PaR Systems LLC
Yamazaki Mazak Corp.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

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