The global Metal Welding Market size is expected to reach USD 22.97 Billion in 2030 and register a revenue CAGR of 3.2% over the forecast period, according to a latest report by Reports and Data. Rapid implementation of advanced technologies in Metal Welding and increasing adoption of Metal Welding for heat resistance and high durability are expected to drive market revenue growth during the forecast period. Increasing demand for Metal Welding to manufacture solar energy plants is expected to boost the growth of the Metal Welding market in the near future. Rising demand for building solar energy plants has led to increased adoption of Metal Welding for the manufacturing process. Copper material is widely used to manufacture solar energy plants due to its easy availability from mines and recycling plants. Copper's efficiency in heat and electricity conductivity also makes it an essential material for the manufacturing of solar plants, which increases demand for copper Metal Welding. This is expected to drive the revenue growth of the market in the near future. Rising demand for copper Metal Welding due to its rust resistance and corrosion properties is expected to propel market revenue growth. Additionally, increasing adoption of Metal Welding due to its heat resistance and high durability has led to increased demand for Metal Welding. It is expected to drive the revenue growth of the market.
However, challenges in creating designs using metals after fabrication are some factors that could hamper the market's revenue growth during the forecast period. Some metals' velocity and molten flow characteristics are unsuitable for crafting high geometries or shapes. This leads to a challenge in creating the designs according to the consumer's need, which is expected to restrain the market revenue growth.
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Companies profiled in the global market report include Kaman Corporation, O’Neal Manufacturing Service, BTD Manufacturing, Inc., Matcor-Matsu Group, Inc., Mayville Engineering Company, Inc., Defiance Metal Products, Co., Salasar Techno Engineering Limited, Kirby Building Systems, Zamil Industrial Investment, Co., and Karamtara Engineering Pvt., Ltd.
Some Key Highlights in the Report
- Metal cutting segment is expected to account for larger market share revenue over the forecast period. Increasing usage of the metal cutting process during Metal Welding is driving the growth of the segment. Metal cutting is an essential process during fabrication as it helps to increase efficiency and reduce costs.
- Automotive segment is expected to account for the largest revenue share in the global Metal Welding market between 2022 and 2030. Rising demand for Metal Welding in automotive to provide custom-built designs and modern finish is driving revenue growth in the segment. Increasing demand for the latest and upgraded designs in automotive is also increasing demand for Metal Welding. This is expected to boost the growth of the segment.
- Asia Pacific Metal Welding market is expected to account for the largest revenue share in the global market over the forecast period. Rapid growth of the automotive and construction industry, in which Metal Welding plays an essential part is expected to drive market revenue growth. Rapid implementation of newest technologies by manufacturers in Asia Pacific is another factor expected to increase the revenue growth of the Metal Welding market.
- In November 2019, Mayville Engineering Company, Inc. announced the expansion of its capacity in Heber Springs (Ark), Cleburne County. Mayville Engineering Company will continue to invest in leading-edge equipment and process improvements. Mayville Engineering Company also aims to provide 70 new job opportunities over a four-year period to support growth in the business volumes.
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For the purpose of this report, Reports and Data has segmented the global Metal Welding market based on type, application, material, and region:
Type Outlook (Revenue, USD Billion; 2019-2030)
- Metal Machining
- Metal Sheering
- Metal Forming
- Metal Welding
- Metal Folding
- Metal Cutting
- Metal Rolling
- Metal Punching
- Metal Stamping
Application Outlook (Revenue, USD Billion; 2019-2030)
- Aerospace Defense
- Job Shops
- Mechanical Application
Material Outlook (Revenue, USD Billion; 2019-2030)
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Benefits of Global Metal Welding Market Report:
- Comprehensive analysis of the changing market dynamics
- A futuristic outlook on different factors influencing the market
- An 8-year forecast of the market growth and expected revenue growth
- Ease of understanding of the market, key segments, and their future growth
- In-depth analysis of the competitive landscape to give an advantageous edge for the companies
- Extensive insight into the market with in-depth analysis of the segmentation
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