The Business Research Company’s Stud Welding Machine Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, June 17, 2024 /EINPresswire.com/ — The stud welding machine market size is projected to grow from $1.17 billion in 2023 to $1.24 billion in 2024, at a CAGR of 6.3%. Driven by a surge in construction and infrastructure projects, automotive manufacturing expansion, and the increasing demand for lightweight materials, the market is expected to reach $1.54 billion by 2028, growing at a CAGR of 5.6%.
Rising Construction Industry Fuels Market Growth
The growing construction industry is a significant driver of the stud welding machine market. Stud welding machines are essential in construction for providing fast, efficient, and versatile permanent bonds between materials. According to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, in May 2023, privately owned home starts were at a seasonally adjusted annual rate of 1,631,000, representing a 21.7% increase over the revised April 2023 prediction and a 5.7% increase over May 2022. Similarly, privately owned home completions in May 2023 reached 1,518,000, a 5.0% increase over May 2022 and a 9.5% increase over the revised April 2023 estimate. The expansion in the construction industry is propelling the growth of the stud welding machine market.
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Key Players and Market Trends
Major companies in the stud welding machine market include Würth Group, Hilti Group, DAIHEN Corporation, Nelson Stud Welding Inc., and STANLEY Engineered Fastening. These companies are focusing on introducing energy-efficient and connected stud welding machines to maximize their profits. For instance, Stanley Engineering Technologies launched a new generation of Tucker stud welding equipment in March 2021, designed for integration into automotive communication structures and equipped with sensor technology to reduce unscheduled stoppages.
Segments:
• By Type Of Arc Ignition: Capacitor Discharge Stud Welding, Drawn Arc Stud Welding
• By Material: Steel, Aluminum, Copper, Brass
• By Operation: Automatic, Semi-Automatic
• By End-Use Industry: Automotive, Shipbuilding, Electric Goods, Construction, Farm, Other End-User Industries
Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the stud welding machine market in 2023. The region’s dominance is attributed to the rapid growth in construction and infrastructure projects, coupled with the expansion of the automotive and shipbuilding industries. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.
Access the complete report for an in-depth analysis of the global stud welding machine market: https://www.thebusinessresearchcompany.com/report/stud-welding-machine-global-market-report
Stud Welding Machine Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Stud Welding Machine Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on stud welding machine market size, stud welding machine market drivers and trends, stud welding machine market major players, competitors’ revenues, market positioning, and market growth across geographies. The stud welding machine market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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