Global Resistance Welding Products Market, By Contactors (Mechanical Contractors, Electro-Mechanical Contractors, Electronic Contactors, Ignitron Tube Contactors, Silicon Controlled Rectifier (SCR) Contactors, Others), Product (Stick Electrodes, Solid Wires, Flux-Cored Wires, Saw Wires and Fluxes, Others), Control Sequence (Spot Sequence, Multiple Impulse (Pulsation) Sequence, Others), Application (Transportation and Automobiles, Building and Construction, Marine, Others), Level of Automation (Manual, Semi- Automatic, Automatic) – Industry Trends and Forecast to 2029
Market Analysis and Size
One of the oldest types of electric welding is resistance welding. The market is expected to expand due to rising resistance welding demand utilization in the automotive and manufacturing industries. The increased popularity owing to various beneficial properties such as suitability for high-volume and low-cost production, is further aiding the market to gain traction over the forecast period.
Global Resistance Welding Products Market was valued at USD 1802.00 million in 2021 and is expected to reach USD 2872.11 million by 2029, registering a CAGR of 6.00% during the forecast period of 2022-2029. The "Automobiles" accounts for the largest application segment in the resistance welding products market owing to its increased applications of resistance welding products in the manufacturing of vehicles. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Contactors (Mechanical Contractors, Electro-Mechanical Contractors, Electronic Contactors, Ignitron Tube Contactors, Silicon Controlled Rectifier (SCR) Contactors, Others), Product (Stick Electrodes, Solid Wires, Flux-Cored Wires, Saw Wires and Fluxes, Others), Control Sequence (Spot Sequence, Multiple Impulse (Pulsation) Sequence, Others), Application (Transportation and Automobiles, Building and Construction, Marine, Others), Level of Automation (Manual, Semi- Automatic, Automatic)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Envois (U.S.), voestalpine AG (Austria), Air Liquide (France), The Lincoln Electric Company (U.S.), Illinois Tool Works Inc. (U.S.), HYUNDAI WELDING CO., LTD. (South Korea), OBARA CORP (Japan), Sandvik AB (Sweden), Kiswel Inc. (U.S.), Kemppi Oy. (Finland), Mitco Weld Products Pvt. Ltd.(India), Senor Metals Pvt. Ltd. (India), Rofin-Sinar (U.S.), DAIHEN Corporation. (Japan), Basiloid Products Corp.(U.S.)., RME MIDDLE EAST FZCO (UAE) and capilla GmbH (Germany)
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Market Opportunities
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Market Definition
Welding products are used in the welding process. Welding is a fabrication process used to join metals or thermoplastics by melting the parts with high heat. Welding professionals use welding supplies. The most common welding techniques are arc welding, oxy-fuel welding, laser beam welding, and resistance welding. Resistance welding is the joining of metals that is accomplished by applying weight and passing current through the metal region to be joined for a period of time. Resistance welding machines are designed and built for a wide range of medical, aviation, and modern applications.
Resistance Welding Products Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Expansion of Construction Sector
The rapid expansion of the construction sector and infrastructural development of backward areas particularly in developing economies are expected to drive the growth of the resistance welding products market. The construction industry is very diverse, encompassing activities such as infrastructure, buildings, and maintenance. Welding is mostly used in the fabrication of metal structural frameworks. Welding is used to join trusses, footers, steel I-beams, and columns that support the walls, roof, and floors of a building. For instance, the global construction sector is expected to grow to $8 trillion by 2030, according to the Intercontinental Exchange (ICE), a US-based technology company. As a result, the rapidly expanding construction sector propels the growth of the resistance welding products market.
- High Demand Across End Users
The growing utilization of the resistance welding products across the various end user industries is estimated to carve a way for the growth of the market. Resistance welding's widespread adoption in the automotive for various manufacturing processes is expected to drive the resistance welding equipment market. The global market is being driven by the high utilization in the end use industries.
- Resistance Welding Products Offer Various Advantages
Resistance welding has many advantages because, unlike arc and gas welding, no training is required to improve the welder's skill. It is appropriate for high-volume production of low-cost products in a short period of time. As a result of its short duration, less heat is transferred over the work piece's non-work area. Furthermore, no filler metals or consumables are required for joining or welding metal sheets and components, and the process is environmentally friendly and clean. These determinants are expected to drive the resistance welding equipment market during the forecast period.
Furthermore, its suitability for high-volume and low-cost production will propel the market even further. . End-user industries prefer semi-automatic and automatic resistance welding equipment to manual resistance welding equipment due to their ease of operation and time savings. For the fabrication of pipe, tubing, and smaller structural sections, the steel industry employs semi-automatic and automatic resistance welding equipment.
Opportunities
- Technological Advancement and Surging Trends
Furthermore, the technological advancement in welding products coupled with the surging trends of joining dissimilar and non-metallic materials extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the surging trends of joining dissimilar and non-metallic materials will further expand the future growth of the resistance welding products market.
Restraints/Challenges
- Drawbacks of Resistance Wielding Products
Resistance welding equipment costs more than arc welding equipment. It is a major factor that may stymie the growth of the resistance welding equipment market. Resistance spot welding has low fatigue and tensile strength and restricted movement on the assembly line. These are some of the other factors impeding the growth of the resistance welding equipment market.
- Requirement of High Power
The resistance welding products require a high power source to generate enough heat to melt the joint and to generate a stable arc and metal transfer, and due to ease and convenience with which the required high current at a low voltage can be obtained using a transformer, AC power is used for resistance welding. This factor will challenge the resistance welding products market growth rate as a challenge.
This resistance welding products market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the resistance welding products market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Resistance Welding Products Market
The recent outbreak of coronavirus had a negative impact on the resistance welding products market. The severe disruptions in various manufacturing, as well as the supply-chain operations due to the various precautionary lockdowns, led to huge financial setback for the market. The governments have halted various business activities in order to reduce the spread of novel viruses.. Furthermore, the pandemic has had a rapid and severe impact on the global automotive industry, resulting in disruptions in Chinese part exports, large-scale manufacturing disruptions across Europe, and the closure of assembly plants in the United States. As the resistance welding products market largely relies on automotive and the building and construction sector, it is also estimated to have a direct negative impact.
On the brighter side, the government gave an allowance to most construction activities as well as the other industries to resume selective operations with certain policies and regulations after the first phase of lockdown in most countries. This helped market to overcome the financial setback and therefore, the market is estimated to expand and the pre-pandemic levels.
Global Resistance Welding Products Market Scope
The resistance welding products market is segmented on the basis of contactors, product, control sequence, application and level of automation. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Contactors
- Mechanical Contractors
- Electro-Mechanical Contractors
- Electronic Contactors
- Ignitron Tube Contactors
- Silicon Controlled Rectifier (SCR) Contactors
- Others
Product
- Stick Electrodes
- Solid Wires
- Flux-Cored Wires
- Saw Wires and Fluxes
- Others
Control Sequence
- Spot Sequence
- Multiple Impulse (Pulsation) Sequence
- Others
Application
- Transportation and Automobiles
- Building and Construction
- Marine
- Others
Level of Automation
- Manual
- Semi- Automatic
- Automatic
Resistance Welding Products Market Regional Analysis/Insights
The resistance welding products market is analysed and market size insights and trends are provided by country, contactors, product, control sequence, application and level of automation as referenced above.
The countries covered in the resistance welding products market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the industrial growth in emerging economics such as China and India within the region. Moreover, the substantial pace of growth in electronic industry accelerates the market growth.
On the other hand, North America is estimated to show lucrative growth over the forecast period of 2022-2029, due to the large number of automobile manufacturers in the region. The region's market is likely to be driven by rising demand for electric vehicles as a result of government laws and regulations.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Resistance Welding Products Market Share Analysis
The resistance welding products market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to resistance welding products market.
Some of the major players operating in the resistance welding products market are
- Envois (U.S.)
- voestalpine AG (Austria)
- Air Liquide (France)
- The Lincoln Electric Company (U.S.)
- Illinois Tool Works Inc. (U.S.)
- HYUNDAI WELDING CO., LTD. (South Korea)
- OBARA CORP (Japan)
- Sandvik AB (Sweden)
- Kiswel Inc. (U.S.)
- Kemppi Oy. (Finland)
- Mitco Weld Products Pvt. Ltd.(India)
- Senor Metals Pvt. Ltd. (India)
- Rofin-Sinar (U.S.)
- DAIHEN Corporation. (Japan)
- Basiloid Products Corp. (U.S.)
- RME MIDDLE EAST FZCO (UAE)
- capilla GmbH (Germany)
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