Welding Transformer Market - Trends and Forecasts by Technavio
August 17 2017 - 3:03PM
Business Wire
Technavio’s latest report on the global welding transformer
market provides an analysis of the most important trends expected
to impact the market outlook from 2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or
decline.
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Technavio has published a new report on
the global welding transformer market from 2017-2021. (Graphic:
Business Wire)
The automotive sector is currently undergoing a steady demand,
and hence manufacturing activities are on the rise. Car companies
are now focusing on providing customers with vehicles that are
manufactured with utmost precision. Therefore, competitive
advantage for these manufacturers lies in quality and reliability
coupled with precision finishing of the entire vehicle.
Gaurav Mohindru, a lead analyst from
Technavio, specializing in research on tools and components sector,
says, “The global automotive industry has increased over the past
five years. While it has been affected by the recent economic
instability, especially in the US and more recently in China, the
profit margins in the sector are in the process of recovery.”
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The top three emerging trends driving the global welding
transformer market according to Technavio research analysts
are:
- Redressing the issue of growing skills
gap
- Advent of new materials
- Competitive landscape driving new
technologies
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Redressing the issue of growing skills gap
The welding industry across the globe, especially in the US, is
projected to experience a dearth of skilled workforce, which in
turn will significantly impact metal fabrication and manufacturing
industries.
“Technological enhancements in torch angles,
stick outs, and travel speeds can enable even entry-level operators
to execute the job faster. These have also reduced the need for
extensive training programs, thus enabling a better-finished
product without sacrificing quality,” according to Gaurav.
Advent of new materials
The introduction and adoption of new materials used for welding
purposes have driven the significant demand for new technologies.
The use of these new materials helps in reducing the weight of the
overall finished products, besides leading to lower product and
production cost.
The introduction of these new materials has, no doubt, enhanced
the overall quality of the final product. However, in the process,
they also pose several challenges to the welding process.
High-strength steel is prominently used in thinner sections during
a welding operation and hence is more prone to cracks than mild
steel.
Competitive landscape driving new technologies
The overall welding industry landscape is highly competitive,
which is reflected in the several changes that the industry is
experiencing in terms of the development of new equipment as well
as advanced welding methodologies.
The trend of automation in the welding process has been in
practice for several years. However, recently, the uptake of this
new technology among welding equipment end-users has increased as
it offers a competitive advantage.
The key vendors are as follows:
- Colfax
- Fronius
- ITW Welding
- Lincoln Electric
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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
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