The plasma welding global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Plasma Welding Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The plasma welding market size has grown strongly in recent years. It will grow from $1.32 billion in 2023 to $1.40 billion in 2024 at a compound annual growth rate (CAGR) of 6%. The growth in the historic period can be attributed to increase in demand for high precision welding, growth in automotive manufacturing, increase in use of plasma welding in shipbuilding, growth in the metal fabrication industry, and growth in aerospace and defense spending.
The plasma welding market size is expected to see strong growth in the next few years. It will grow to $1.76 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to increasing demand for precision welding, rising need for high quality welds, growing aerospace sector, growing shipbuilding industry, and rising demand for automated welding systems. Major trends in the forecast period include adoption of advanced plasma welding technologies, implementation of real time monitoring and control systems, integration of plasma welding with robotic systems, implementation of advanced cooling systems, and adoption of eco friendly plasma welding processes.
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Scope Of Plasma Welding Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Plasma Welding Market Overview
Market Drivers –
The growing automotive industry is expected to propel the growth of the plasma welding market going forward. The automotive industry is growing due to increasing demand for electric and autonomous vehicles and global economic growth. Plasma welding aids the automotive industry by providing precise, high-quality welds for complex metal components, improving structural integrity, and enhancing vehicles’ overall durability and performance. For instance, in March 2024, according to the European Automobile Manufacturers Association, a Belgium-based organization representing the European Union’s automobile industry, U.S. automotive production in 2023 rose by approximately 8.5%, with over 7.6 million cars produced compared to previous years. Therefore, the growing automotive industry is driving the plasma welding market.
Market Trends –
Major companies operating in the plasma welding market are developing strategic partnerships to enhance their technological capabilities. Strategic partnerships help companies by combining expertise, resources, and technologies, leading to accelerated innovation, improved product offerings. For instance, in March 2024, Ador Welding, an India-based plasma welding equipment manufacturer, partnered with Hindalco, an India-based aluminum manufacturing company to enhance welding performance through a collaborative initiative. This program equips trainers with comprehensive expertise in various welding techniques, including plasma welding. By enhancing the trainers’ knowledge and skills, the program ensures that they can effectively teach and mentor others in advanced welding techniques, including plasma cutting and welding.
The plasma welding market covered in this report is segmented –
1) By Product Type: Manual, Mechanized
2) By Distribution Channel: Online, Offline
3) By End User: Machinery And Equipment, Aerospace And Defense, Automotive, Other End Users
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Regional Insights –
Asia-Pacific was the largest region in the plasma welding market in 2023. The regions covered in the plasma welding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the plasma welding market are Panasonic Holdings Corporation, Nippon Steel Corporation, Air Liquide S.A., voestalpine Böhler Welding GmbH, Illinois Tool Works Inc., Yaskawa Electric Corporation, Lincoln Electric Holdings Inc., KUKA Robotics Corporation, The ESAB Group Inc., Hypertherm Inc., Fronius International GmbH, Miller Electric Manufacturing LLC, Messer Cutting Systems GmbH, EWM GmbH, TWI Ltd., Otto Bihler Maschinenbau GmbH & Co KG, Kemppi Oy, Carl Cloos Schweisstechnik GmbH, Koike Aronson Inc., Abicor Binzel Technoweld Pvt. Ltd., Technocrats Plasma Systems Pvt Ltd, Hobart Brothers Company, Weldlogic Inc., DAIHEN Corporation, Kjellberg Finsterwalde Plasma und Maschinen GmbH< /b>
Table of Contents
1. Executive Summary
2. Plasma Welding Market Report Structure
3. Plasma Welding Market Trends And Strategies
4. Plasma Welding Market – Macro Economic Scenario
5. Plasma Welding Market Size And Growth
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32. Global Plasma Welding Market Competitive Benchmarking
33. Global Plasma Welding Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Plasma Welding Market
35. Plasma Welding Market Future Outlook and Potential Analysis
36. Appendix
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