LONDON--(BUSINESS WIRE)--Jul 12, 2018--The global friction stir welding equipment market is expected to post a CAGR of close to 10% during the period 2018-2022, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global friction stir welding equipment market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the growing demand from the automotive industry. The automotive industry is trending toward increased use of aluminum owing to the increasing competition and the need to reduce the weight of cars. The FSW process offers many potential benefits for welding aluminum. It is a robust process that can handle the variations inherent in high-volume production better than other joining processes. It also provides improved mechanical properties such as tensile strength and fatigue resistance, improved process robustness, and lack of consumables.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the use of new materials by industries as one of the key emerging trends in the global friction stir welding equipment market:
Global friction stir welding equipment market: Use of new materials by industries
Evolving end-user industries constantly prompt wielding equipment manufacturers to adopt new technologies to help them stay competitive. From the introduction of new materials to the need for services such as welding automation and weld data monitoring, changes drive industries to adopt solutions that would help them deliver high levels of quality and productivity.
“FSW is an adaptable technology that can be applied to a range of situations such as joining of materials, which may otherwise be difficult to weld. It enhances the weld strength, improves energy efficiency, and results in cost savings. With such advantages, the global FSW equipment market is expected to drive growth during the forecast period,” says a senior analyst at Technavio for research on engineering tools.
Global friction stir welding equipment market: Segmentation analysis
This market research report segments the global friction stir welding equipment market by end-user (automotive industry, aerospace industry, railway industry, and shipbuilding industry) and geographical regions (APAC, EMEA, and the Americas).
The automotive industry segment held the largest market share in 2017, accounting for nearly 28% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 43% of the market share. The market share occupied by this region is anticipated to increase by nearly 2%, during 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket sizing Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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PUB: 07/12/2018 04:25 PM/DISC: 07/12/2018 04:25 PM