Published On : 04 Oct 2018
Like a number of other industries, the global welding industry has also been betting on automation as an effective way of cutting down the burden of labor on humans and ensure operational efficiency. It is estimated that welding facilities across the globe and across a number of industries will continue to implement higher levels of automation in the near future, which directly translates to a smooth growth trajectory for the global automatic welding machines market. Owing to the rising demand, several new companies have ventured into the market and established companies are focusing on the development of more advanced products and expansion across emerging markets.
Noted below are some of the leading trends that are likely to have a notable impact on the future growth potential of the global automatic welding machines market.
Rising Demand from Automotive and Oil and Gas Industries to Drive Market
The thriving expansion of the global automotive industry is one of the key factors driving the global automatic welding machines market, as metals used in automobiles are joined using welding. The vast rise in repair and maintenance activities pertaining to automobiles are also creating a need for effective automatic welding machines, thus driving the market worldwide. Another factor driving the market is the growth of the building and construction sector. Welding is an important process used in building and construction activities. As funds get poured into these sectors, especially across emerging economies where the rising population demands a vast rise in new buildings, demand for automatic welding machines is also expected to rise massively.
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Furthermore, the reviving oil and gas sector is also expected to emerge as a leading consumer of automatic welding machines in the near future. Welding products are extensively used for revamping of oil infrastructure and also for the construction of new pipelines and manufacturing facilities. As safety concerns in the oil and gas industry rise, the need for replacing older pipelines and installing new ones is on a plausible rise. In addition to this, the growth of the oil and gas drilling activities has given rise to an increase in offshore rigs. This in turn is creating a need for more reliable and accurate welding processes, driving the demand for automatic welding machines.
Lack of Skilled Human Resources to Handle Automatic Welding Machines to Pose a Problem
Trained and skilled human resources are crucial to ensure the success of the automatic welding machines industry. Developed countries face concerns associated with high labor cost, leading to high production prices and this is subsequently impacting the profit margins of manufacturers. Moreover, the shortage of skilled labor to handle automatic welding machines is also hampering the growth of the market by limiting the uptake of these technologically advanced products.
Owing to a lack of skilled labor to handle new technologies being developed by key players in the automatic welding machines market will also restrain the market, manufacturers are unable to provide quality services to customers. However, the growth of the wind power industry will act as an opportunity for growth in the coming years. As the need for efficiency arises in wind tower fabrication, there will an increase in the construction of wind turbines, driving the demand for automatic welding machines.
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