New York, USA, June 14, 2023 (GLOBE NEWSWIRE) -- According to Research Dive’s newly published report, the global welding guns market is predicted to grow at a tremendous CAGR of 5.6%, thereby garnering a revenue of $327.2 million in the 2022-2031 timeframe. This holistic report provides an overarching overview of the nature of the welding guns market including its main characteristics like growth drivers, growth opportunities, restraints, and hindrances in the 2022-2031 timeframe. The report also contains all the necessary and essential market figures to help new entrants gain an insight into the nature and working of the market.
Dynamics of the Market
Drivers: Growing demand for welding equipment across various industries including manufacturing, automotive, and construction industries is expected to be the primary growth driver of the welding guns market in the forecast period. Additionally, increasing development of advanced welding technologies like robotic welding is expected to help the market grow in the forecast period.
Opportunities: Rising use of advanced and innovative welding techniques like friction welding and laser welding is anticipated to offer numerous growth opportunities to the market in the forecast period. Moreover, increasing awareness about the safety of workers is estimated to augment the growth rate of the market in the forecast period.
Restraints: High initial cost of welding guns, however, might restrict the growth of the welding guns market.
Request an Exclusive PDF Sample of the Welding Guns Market (Including Tables, TOC, and Figures)
Impact of Covid-19 on the 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 welding guns market, too, faced a negative impact of the pandemic. The disruptions in global supply chains led to a slowdown in manufacturing and construction industries. This reduced the demand for welding guns massively which affected the growth rate of the market during the pandemic.
Segments of the Market
The report has divided the market into certain segments based on type, end-use industry, and region.
Type: Manual Welding Sub-Segment to be the Most Dominant
The manual welding sub-segment is expected to be the most dominant by 2031. The increasing preference for manual welding guns over automatic welding guns in applications where the welds are complex or require a higher level of customization is anticipated to help the market register growth during the forecast period.
End-Use Industry: Heavy Equipment Sub-segment to Have the Maximum Share
The heavy equipment sub-segment of the welding guns market is expected to hold a significant market share during the forecast timeframe. The rising demand for heavy equipment welding guns due to technological advancements such as new welding techniques and equipment is predicted to augment the growth rate of this sub-segment.
Ask an Expert Analyst or Schedule a call to Get the Latest Trends on Welding Guns Market
Region: Asia-Pacific Market to be the Most Lucrative
The welding guns market in the Asia-Pacific region is projected to be the most lucrative in the analysis timeframe. The rapidly increasing expanse of automotive manufacturing and construction sectors in the countries of this region is expected to be the main factor behind the growth of the market in this region.
Prominent Market Players
Some prominent market players of the welding guns market are
- Arm Welders
- ABICOR BINZEL
- ESAB
- Düring Schweißtechnik GmbH
- NIMAK GmbH
- Milco Manufacturing
- The Lincoln Electric Company
- Stellantis N.V.
- OBARA CORP.
- Miller Electric Mfg. LLC
These players are formulating numerous business strategies like mergers, acquisitions, and collaborations to get a commanding position in the market.
Request an On-Demand Customization of the Specific Segments or Regions on the Welding Guns Market
For instance, in December 2022, Lincoln Electric Holdings, Inc., a leading manufacturer of arc welding products, announced the acquisition of Fori Automation, LLC, an automation company. This acquisition is predicted to boost the market share of Lincoln Electric in the next few years.
Finally, this report published by Research Dive also offers many vital facets of the welding guns market including the latest strategic developments, SWOT analysis, financial performance of the key players, and product portfolio.
More about Welding Guns Market:
Welding Guns Market Size Projected To Generate A Revenue Of $327.2 Million By 2031
