Seam welding machine market size is projected to reach US$ 1,649.31 million by 2031 from US$ 1,187.75 million in 2023. The market is expected to register a CAGR of 4.2% in 2023–2031. Seam welding machines consist of one or two motor-driven wheels that create a series of over-lapping spot welds on the steel sheet components for achieving air and liquid-proof sealing on the welded components. The seamless current passes through these roller sheets, and the welded components are pressed in between them. Growing demand for seam welding machines across different industries, including automotive, industrial fabrications, construction energy, and power, among others, drives the market growth during the forecast period.
The seam welding machines market is dominated by Asia Pacific countries such as India, China, South Korea, Japan, and many others. This is owing to increasing demand from the automotive manufacturing facilities across the Asia Pacific countries drives the market growth. India's auto components manufacturing imports reached US$ 20.3 billion in 2023, with a significant share of 30% from China. Indian government is boosting the domestic manufacturing of electric vehicles is driving the seam welding machine market growth.
Automotive production increased by 11.5% in 2022 compared to 2023, amounting to about 92 million units globally. The increase in production primarily drives the demand for advanced machines such as robotic welding seamless welding machines for automotive panels manufacturing by the leading automotive OEMs. Such rapid growth of automotive vehicle production across the advanced economies globally has driven the seam welding machine market growth in the automotive sector. Further, rising electric vehicle production with the emergence of hybrid electric vehicles is gaining popularity in the seam welding machine market.
Increasing demand for the fabrication of solar panel stands, and industrial boilers in the energy and power sector is expected to create ample opportunity for the seam welding machine market growth during the forecast period. For instance, in January 2024, Mortenson and Terra-Gen launched the largest solar panel and energy storage project named Edwards & Sanborn Solar in the US. Mortenson is the procurement, engineering, and construction service contractor for this project in the US. Increasing such projects across the globe is expected to create ample opportunity for the global seam welding machine market growth during the forecast period.
Key segments that contributed to the derivation of the seam welding machine market analysis are mode, operation, and industry.
The geographic scope of the Seam Welding Machine market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
Based on geography, the seam welding machine market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). Asia Pacific is expected to account for the largest market share in 2023, and it is likely to retain its dominance during the forecast period. Further, the seam welding machine market in this region is expected to witness the highest CAGR during the forecast period. This is owing to increasing automotive production in the Asia Pacific countries such as China, Japan and India. For instance, in 2023, the Indian automotive manufacturers planned to invest more than US$ 7 billion by 2028 to strengthen its local automotive components production, such as electric motors, car panels, chassis and many others. Also, in March 2024, Autoneum planned to expand its production in Asia Pacific countries such as China and India. The company planned to open two new plants in Pune across Western India and in Changchun in Jilin, China. Increasing such investment in the automotive sector across the Asia Pacific countries has created massive demand for the seam welding machine market growth.
Europe is expected to hold the second-largest share of the seam welding machine market in 2023. In contrast, Germany is expected to be the dominant contributor to the regional seam welding machine market. Europe is home to top automakers, including Mercedes, Volkswagen, Skoda, BMW, and Audi. According to the Policy Department for Economic, Scientific, and Quality of Life Policies, the COVID-19 pandemic indirectly impacted over 1.1 million jobs due to the shutdown of automotive factories from March to May 2020.
Moreover, vehicle sales plummeted across Europe in 2020, while original equipment manufacturers (OEMs) announced further delays in the reopening of their assembly plants. In addition to a drop in demand for passenger cars and LCVs, disruptions in raw material supply chains due to limitations on cross-border movements led to delays in the supply of equipment, such as welding machines. However, the COVID-19 pandemic and its repercussions encouraged manufacturing companies to digitize and automate their operations, which allowed them to revive their operations in late 2020. Such revival efforts by manufacturing companies are creating future growth opportunities for seam welding machine providers in Europe.
The regional trends and factors influencing the Seam Welding Machine Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Seam Welding Machine Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1,187.75 million |
| Market Size by 2031 | US$ 1,649.31 million |
| Global CAGR (2023 - 2031) | 4.2% |
| Historical Data | 2021-2022 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Mode
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Seam Welding Machine Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Seam Welding Machine Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Seam Welding Machine market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:
The “Seam Welding Machine Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering the following areas: