Wilmington, Delaware, United States, Oct. 10, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Significance of stud welding machines in manufacturing processes of high growth industries, such as automotive, construction, and shipbuilding propels the stud welding machine market. Furthermore, steep rise in demand for heavy machinery from various industry verticals, wherein welding is used in the manufacture of heavy machinery is creating new revenue streams in the stud welding machine market. The stud welding machine market is projected to rise at a CAGR of 4.8% during the forecast period from 2022 to 2031.
Rising economic prosperity leading to increasing demand for household goods, such as cooking stoves and kitchen chimneys stokes demand for stud welding products. The extensive use of welding in the manufacture of household items is, thus fueling the growth of stud welding machine market.
Increasing trend of automation of traditional manufacturing industries is creating value-grab opportunities for players in the stud welding machine market. Stud welding machine manufacturers are boosting the production of automatic stud welding machines, elucidate recent developments in the stud welding machine market.
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Stud Welding Machine Market – Key Findings of the Report
- Significant rise in budgets of governments for military and defense advancements, is driving potential revenues in the stud welding machine market. According to statistics of World Bank, in the U.S., military budget increased from US$ 734.34 Bn in 2019 to US$ 778.23 Bn in 2020. Manufacture of military and defense equipment involves welding machines, thereby augmenting the demand for stud welding machines.
- Increasing transport of goods using ships has been a major factor in the growth of international trade. This has led to the growth of shipbuilding industry, which, in turn stirs demand for stud welding machines.
- The automotive industry accounts for substantial revenue generation in the stud welding machine market. Extensive demand for welding machines to join each section of an automobile creates massive opportunities, and thus fuels growth.
- Short cycle/drawn arc welders hold a dominant share in the stud welding machine market. Characteristic of short cycle/drawn arc welders to withstand vibration resistance and failure or breakage demonstrate their use in major industries, such as electronics, construction, automotive, and shipbuilding.
- Semi-automatic welders hold the leading share of stud welding machine market. Growth of the segment is ascribed to preference for semi-automatic welders due to their performance attributes that enables users to have full control on the studding process.
- Asia Pacific held nearly 38% share, and stood as the fastest growing market for stud welding machine in 2021. Rapid industrialization across the region, particularly in India, China, and Japan is driving the demand for stud welding machines. Furthermore, rising investments for infrastructural development is also boosting the demand for stud welding machines in the region.
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Stud Welding Machine Market – Growth Drivers
- Extensive use of stud welding machines in manufacturing processes of high growth industries propels stud welding machine market
- Significance of stud welding products to serve the rising demand for cooking stoves, kitchen chimneys creates opportunities in stud welding machine market
Stud Welding Machine Market – Key Players
Some of the key players operating in the stud welding machine market are;
- Bolte GmbH
- KOSTER & CO. GMBH
- Changzhou Jinda welding Co. Ltd.
- Heinz Soyer Bolzenschweisstechnik GmbH
- HBS Bolzenschweiss-Systeme
- NIPPON STUD WELDING Co. Ltd.
- Keystone Fastening Technologies Inc.
- Taylor Studwelding Systems Ltd
- Cruxweld Industrial Equipment Private Limited
- Tru-Weld (TFP Corporation)
- Shenzhen Hongbai Technology Industrial Co. Ltd.
- D.H. Enterprises
- STANLEY Engineered Fastening
- Image Industries Inc.
- Midwest Fasteners Inc.
- International Welding Technologies
- Sunbelt Stud Welding Inc.
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The stud welding machine market is segmented as follows;
Stud Welding Machine Market, by Type
Capacitor Discharge Stud Welder
Short Cycle/Drawn- Arc Stud Welder
Stud Welding Machine Market, by Operation
- Automatic
- Semi-automatic
Stud Welding Machine Market, by Stud Range
- Below 3 mm
- 3-12 mm
- 12- 18 mm
- 18 mm & above
Stud Welding Machine Market, by Application
- Automotive
- Construction
- Decorative and Consumer Items
- Electrical Items
- Furniture
- Shipbuilding
- Others
Stud Welding Machine Market, by Distribution Channel
- Direct
- Indirect
Stud Welding Machine Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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