LONDON–(BUSINESS WIRE)–The new ultrasonic metal welding equipment market research from Technavio indicates Neutral and Inferior growth in the short term as the business impact of COVID-19 spreads.
“One of the primary growth drivers for this market is the technological advances,” says a senior analyst for industrials at Technavio. Several industries including medial, aerospace, electronics, consumer, and automotive extensively use ultrasonic metal welding equipment for various processes. This is encouraging vendors operating in the market to continually innovate products to gain a competitive edge over their competitors by differentiating their products. Improving the efficacy of welding equipment enhances production efficacy of the ultrasonic metal welding process of end-users. Therefore, the technological advances in ultrasonic metal welding equipment are expected to drive market growth during the forecast period. As the markets recover, Technavio expects the ultrasonic metal welding equipment market size to grow by USD 83.59 million, during the period 2020-2024.
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Ultrasonic metal welding equipment Segment Highlights for 2020
- The ultrasonic metal welding equipment market is expected to post a year-over-year growth rate of 6.91%.
- Mobility segment led the growth of the ultrasonic metal welding equipment market in 2019.
- The preference for ultrasonic metal welding coupled with the increasing adoption of lightweight metals like aluminum in both the industries will positively impact the mobility segment.
- The ultrasonic metal welding equipment market share growth by the electrical and electronics segment will be significant during the forecast period.
Regional Analysis
- 46% of the growth will originate from the APAC region.
- Factors such as the increasing adoption of the ultrasonic metal welding process for manufacturing or assembling various products like Li-Ion batteries, automotive wiring harnesses, solar panels, and fuel cells will significantly drive ultrasonic metal welding equipment market growth in this region over the forecast period.
- The US is a key market for ultrasonic metal welding equipments in APAC. Market growth in this region will be faster than the growth of the market in Europe, MEA, and South America.
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Notes:
- The ultrasonic metal welding equipment market size is expected to accelerate at a CAGR of over 7% during the forecast period.
- The ultrasonic metal welding equipment market is segmented by application (mobility, electrical and electronics, and alternate energy) and geography (APAC, Europe, MEA, North America, and South America).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including Emerson Electric Co., Forward Sonic Tech Co. Ltd., Herrmann Ultraschalltechnik GmbH & Co. KG, Kormax System Inc., Nippon Avionics Co. Ltd., Schunk GmbH, Sonics & Materials Inc., Sonobond Ultrasonics Inc., TECH-SONIC Inc., and Telsonic AG.
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