Wilmington, Delaware, United States, July 20, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global resistance spot welding market accumulated a market worth of US$ 304.7 million in 2022. It is projected to grow at a 5.5% CAGR from 2023 to 2031, reaching US$ 498.7 million by the end of 2031.
Resistance spot welding rapidly and effectively creates strong and lasting connections between metal elements. This makes it excellent for use in high-volume manufacturing environments, including the automobile industry, where speed and uniformity with architectural rigidity, longevity, and crashworthiness of car bodywork are critical. Thus, the rise in the automobile industry is expected to drive the resistance spot welding market in the coming years.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 304.7 Mn | |
| Estimated Value | US$ 498.7 Mn | |
| Growth Rate - CAGR | 5.5% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 180 Pages | |
| Market Segmentation | By Machine Type, By Operation, By Features, By Electrode Shape, By Material Thickness, By End-use Industry, By Distribution Channel | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America | |
| Companies Covered | Amada Weld Tech, CenterLine (Windsor) Limited, ESAB Corp., Fronius International GmbH, IDEAL-Werk Gegründet, Kawasaki Heavy Industries, Ltd, Lincoln Electric Holdings, Inc., Obara Corporation, T. J. Snow, Co., and Vehicle Service Group | |
Competitive Landscape
Transparency Market Research has profiled the following players in its global Resistance Spot Welding market report:
Amada Weld Tech, CenterLine (Windsor) Limited, ESAB Corp., Fronius International GmbH, IDEAL-Werk Gegründet, Kawasaki Heavy Industries, Ltd, Lincoln Electric Holdings, Inc., Obara Corporation, T. J. Snow, Co., and Vehicle Service Group.
Companies are creating new surveillance systems and control algorithms to improve weld quality and uniformity while increasing the industry's share in resistance spot welding. They are also working to reduce the amount of energy used and the amount of CO2 emitted by resistance spot welding.
- Fronius International GmbH announced to expand into Austria and the Czech Republic in 2022. To extend its production capacity, the corporation is spending heavily in production and manufacturing.
- Lincoln Electric Holdings Inc. purchased Fori Automation, Inc. in December 2022, a firm that designs, builds, and integrates specialized material handling, installation, assessment, and welding systems.
One of the primary factors driving the growth of the market is the rising utilization rate of resistance welding in the automobile and appliance sectors for production procedures. Resistance welding provides several advantages since, unlike arc and gas welding, no training is necessary to develop the welder's competence. It is appropriate for high-volume manufacturing of affordable goods in a brief period of span.
Resistance spot welding may generate strong and durable junctions between metallic parts including steel beams or panels, making huge, complicated structures easier to build. As a result, expansion in the building industry is increasing the value of the resistance spot welding market.
Organizations in the industry are attempting to improve efficiency and minimize usage of energy by utilizing sophisticated technology. Resistance spot welding technological developments aid in increasing production rates, lowering labor costs, and improving weld quality.
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Key Takeaways from the Market Report
- North America held a 42% share in 2022.
- The market is expected to grow at a CAGR of 5% in Asia Pacific over the forecast period.
- The automatic operation segment is expected to grow at a CAGR of roughly 5.5% throughout the projected period.
- The market in China is expected to grow at a CAGR of roughly 5.4% throughout the projected period.
- Europe held a 19% share of the global market in 2022.
Resistance Spot Welding Market: Prominent Drivers and Trends
- The automatic operation segment is anticipated to lead the market throughout the forecast period, according to the most recent resistance spot welding market trends. Automatic resistance spot welding is very efficient, dependable, and affordable. The entire process is automated, from loading the pieces to welding and releasing the completed product lead.
- Welding material breakthroughs, including the use of novel alloys and coatings, are improving the strength and endurance of welded joints. As a result, technical developments in the technique of welding are increasing the forecasts for the resistance spot welding market.
Resistance Spot Welding Market: Regional Analysis
- Based on the most recent resistance spot welding market prediction, Asia Pacific is anticipated to account for the majority of the market from 2023 to 2031. Economic expansion and higher expenditures in the production and business sectors are contributing to the region's market dynamics.
- The business in North America is likely to expand rapidly in the foreseeable future. Developments in the aviation and automotive industries are accelerating market growth in the region.
Resistance Spot Welding Market: Key Segments
By Machine Type
- Pedestal
- Upset Welding
- Flash Butt Welding
- Seam Welding
- Projection Welding
By Operation
- Manual
- Automatic
- Semi-automatic
By Features
- Stationary
- Bench
- Portable
By Electrode Shape
- Square
- Rectangle
- Circular
- Others (Cone, Dome, Flat, etc.)
By Material Thickness
- Low (Below 2 mm)
- Medium (2-4 mm)
- High (Above 4 mm)
By End-use Industry
- Automotive
- Electronics
- Construction
- Aeronautical
- Others (Battery Manufacturing, Metal Fabrication, etc.)
By Distribution Channel
- Direct
- Indirect
Regions Covered
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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