The seam welding machine market size is expected to reach US$ 1,444.41 million by 2028, registering at a CAGR of 4.0% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
Growing Demand in Energy, Construction, and Shipbuilding Industries to Provide Growth Opportunities for Seam Welding Machine Market Players During 2022–2028
The widespread growth of aerospace, automotive, transport, and shipbuilding industries is driving the seam welding machine market. More than 50% of the current fleet of ships in the world are aged 20 years or more, representing enormous growth prospects for the shipbuilding and repair industries. In addition, the growing adoption of Industry 4.0 in the manufacturing, automotive, and construction sectors is expected to boost the demand for seam welding machines in the coming years. Welding equipment needs to be equipped with high-performance information and communication technology, and customized sensors, which facilitate the digitization of all production-relevant information and help manage the necessary real-time behavior of the system.
Asia Pacific holds a substantial share of the seam welding machine market owing to the growing energy, shipbuilding, and construction sectors across developing economies, such as China and India. In the region, enhanced foreign direct investment (FDI) equity inflow supports projects in the oil & gas sector, and aerospace and heavy machinery industries. Several foreign automobile companies have manufacturing bases in China and India. Further, the construction industry is rapidly evolving in these countries, mainly, due to rising manufacturing activities involving commercial and noncommercial construction projects. According to the Ministry of Micro, Small & Medium Enterprises (MSME), urban infrastructural projects in India receive an estimated investment of US$ 650 billion in the year 2021. The total planned investment in India in the infrastructure sector till 2030 would be US$ 1.0 trillion.
Seam Welding Machine Market - by Region, 2022
Seam Welding Machine Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Mode (Intermittent Seam Welding and Continuous Seam Welding), Operation (Manual, Semi-Automatic, and Automatic), and Industry (Construction, Automotive, Oil and Gas, Manufacturing, and Others)
Seam Welding Machine Market Size & Share Report 2022, 2028
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Source: The Insight Partners Analysis
The growth of the seam welding machine market in North America is primarily attributed to the presence of a large number of seam welding machine manufacturers, including Emerson Electric Co.; Cantec; Koike Aronson, Inc.; and Leister Technologies. Further, developments in transportation industries in the US, with the aging transportation infrastructure, are likely to be instrumental in shaping the seam welding machine market. Technological advancements in welding automation are expected to play a vital role in the US, Mexico, and Canada markets. The presence of top artificial intelligence (AI)- and Internet of Things (IoT)-based technology providers is another major factor contributing to the seam welding machine market in North America.
The seam welding machine market is segmented on the basis of mode, operation, and industry. Based on mode, the market is segmented into intermittent seam welding and continuous seam welding. Based on operation, the seam welding machine market is categorized into manual, semiautomatic, and automatic. Based on industry, the market is segmented into construction, automotive, oil and gas, manufacturing, and others.
Branson Ultrasonics, Cantec, Dahching Electric Industrial, Franzan, and Jet Line Engineering are a few of the key players profiled during the study on the seam welding machine market. Several other major market players were also studied and analyzed during to get a holistic view of the market and its ecosystem. The seam welding machine market report provides detailed market insights, which helps the key players strategize their growth.
The COVID-19 pandemic hampered the seam welding machine market in 2020. The manufacturing and automotive sectors are the major contributors to the seam welding machine market. In the automotive industry, all passenger and light commercial vehicle (LCV) manufacturers faced immediate consequences of the COVID-19 outbreak due to lockdowns, social restrictions, and manufacturing operation disruptions. Top automobile companies, including Daimler, Volkswagen, Toyota, and BMW, had to shut down their production facilities in early 2020. The shutdown of such businesses, which were deemed nonessential by governments, caused disruptions in welding operations in 2020. However, automotive and construction businesses showed signs of revival upon the relaxation of lockdown restrictions in the first quarter of 2021, which is likely to favor the growth of the seam welding market players in the coming years.
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