July 20, 2023 13:30 ET | Source: Transparency Market Research Transparency Market Research
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. Sheet Metal Spot Welding Machine
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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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.
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
Resistance Spot Welding Market: Prominent Drivers and Trends
Resistance Spot Welding Market: Regional Analysis
Resistance Spot Welding Market: Key Segments
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Spot Welding Machine For Wire Nikhil Sawlani Transparency Market Research Inc. CORPORATE HEADQUARTER DOWNTOWN, 1000 N. West Street, Suite 1200, Wilmington, Delaware 19801 USA Tel: +1-518-618-1030 USA – Canada Toll Free: 866-552-3453 Website: https://www.transparencymarketresearch.com Blog: https://tmrblog.com Email: sales@transparencymarketresearch.com