About Friction Stir Welding Tools
Friction stir welding tools are the tools which are been used in a process of joining two metals or metal alloys through a solid-state joining process. This process uses non-consumable tools to join two facing workpieces without melting the workpiece material. This technology is primarily used on wrought or extruded aluminum, particularly for structures that need very high weld strength. Increasing of industrial used fields expenditures, more-intense competition, launches in introducing new products, retrofitting and renovation of old technology, increasing adoption of friction stir welding tools across various region is driving the growth of the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.6% |
Globally, the friction stir welding tools industry market is relatively concentrated as the manufacturing technology of friction stir welding equipment is high. And some enterprises, like ESAB, Grenzebach Maschinenbau GmbH and Nova-Tech Engineering etc. are well-known for the wonderful performance of their friction stir welding tools and related services Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Friction Stir Welding Tools market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ESAB (Sweden), Grenzebach Maschinenbau GmbH (Germany), Nova-Tech Engineering (United States), FOOKE GmbH (Germany), PaR Systems (United States), Nitto Seiki (Japan), General Tool Company (United States), Gatwick (United Kingdom), Stirtec Gmbh (Austria) and Hitachi (Japan) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are PTG, BTI, Valmet, Ekato and Xi'an Yonghua.
Segmentation Overview
AMA Research has segmented the market of Global Friction Stir Welding Tools market by Type (Desktop Equipment, Gantry Equipment and Others), Application (Shipbuilding & Offshore, Automotive, Aerospace, Fabrication and Others) and Region.
On the basis of geography, the market of Friction Stir Welding Tools has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Welding, the sub-segment i.e. Fixed Friction Stir Welding will boost the Friction Stir Welding Tools market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Use of new materials by industries and Growing demand for renewable energy sources
Market Growth Drivers:
Increase in installation of automated welding assembly line
Challenges:
Shrinkage of skilled and qualified labor
Restraints:
High cost material
Opportunities:
Enhancement in services offered by vendors
Market Leaders and their expansionary development strategies
In November 2022, Manufacturing Technology, Inc. announced that the company has finalized the acquisition of Friction Welding Technologies Pvt. Ltd. a Direct Drive Friction Welding company located in Pune, India. The acquisition is the result of a successful multi-year partnership that was formalized in 2017
In August 2023, Bond Technologies, Inc. announced the launch of their innovative PM2 Friction Stir Welding machine.machine like the PM2 on the market,” said Tim Haynie, CEO of Bond Technologies. As such, we want to get the word out because we know there are many companies that will benefit from the PM2’s technology and capabilities. We are anticipating broad distribution across the globe.
Key Target Audience
Industry Investors, Manufacturers, End User Industries, Traders, Distributors, and Suppliers, Government and Research Organizations and Associations and Industry Bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.