Global Friction Stir Welding Market To Exceed US$ 887.0 Mn By 2024: Credence Research
According to a new market report published by Credence Research, Inc., “Global Friction Stir Welding Market (By Equipment Type (Fixed Friction Stir Welding, Adjustable Friction Stir Welding, and Self-reacting Friction Stir Welding), By End-use Application (Shipbuilding and Offshore, Automotive, Aerospace, Fabrication, and Others)) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2024” the global friction stir welding market is expected to reach US$ 887.8 Mn, expanding at a compound annual growth rate of 7.1% during the forecast period 2016 - 2024.
Browse the full Global Friction Stir Welding Market (By Equipment Type (Fixed Friction Stir Welding, Adjustable Friction Stir Welding, and Self-reacting Friction Stir Welding), By End-use Application (Shipbuilding and Offshore, Automotive, Aerospace, Fabrication, and Others)) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2024 report at http://www.credenceresearch.com/report/friction-stir-welding-market
Product Insights
Friction stir welding (FSW) is a solid-state joining process that uses a non-consumable tool to join two facing workpieces without melting the workpiece material. Invented in 1991, the friction stir welding (FSW) process was developed at, and is patented by, The Welding Institute (TWI) in Cambridge, United Kingdom. The development of this process was a significant change from the conventional rotary motion and linear reciprocating friction welding processes. It provided a great deal of flexibility within the friction welding process group. The process advantages result from the fact that the FSW process takes place in the solid phase below the melting point of the materials to be joined. Additional benefits include its ability to join materials that are difficult to fusion weld.
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Competitive Insights:
Some of the leading, promising, and emerging players identified in the global friction stir welding market include Beijing FSW Technology Co, Ltd., Hitachi High-Technologies Corporation, The ESAB Group, Inc., Manufacturing Technology Inc., KUKA Systems GmbH, MegaStir, Gatwick Technologies, ETA Technology Pvt. Ltd., Grenzebach Maschinenbau GmbH, EWI, FOOKE GmbH, General Tool Company, PaR Systems, RV Machine Tools, and SAPA Group among others. The global friction stir welding market is highly competitive and it is requisite for manufacturers to understand requirements of each end-use vertical and develop solution accordingly. In order to understand distinct requirements regarding process monitoring and control, friction stir welding equipment manufacturers are required to develop cordial relationship with customers. In addition, the manufacturers also need to work with industry groups that are involved in the development of standards and regulations. Conducting promotional campaign and participating in industrial exhibitions is crucial to manufacturer’s sustainability as it creates awareness regarding product benefits. Focus on product enhancement through technology development remains the cut-throat strategy for manufacturers in the global friction stir welding market.
Segmentation Analysis:
The global friction stir welding market was led by the Asia Pacific region, accounting for over 42% of the global market revenue. The region is home to huge manufacturing industry. Positive outlook of the manufacturing industry, especially in China and India is expected to have positive impact on the overall market demand in the region. In terms of equipment type, fixed friction stir welders dominated the overall demand, while adjustable friction stir welder are presumed to witness maximum adoption on account of their ability to weld materials of varied thickness with accuracy and less manual work.
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