Report predicts welding equipment market will grow at 5 percent CAGR to 2020

RnRMarketResearch.com has released “Global Welding Equipment Market 2016-2020,” which reports that analysts forecast the global welding market to grow at a CAGR of 5 percent during the period 2016-2020.

A key trend boosting market growth is the redressal of the growing gap in the skilled workforce. The global welding industry is expected to witness a massive shortfall of a skilled workforce. Technavio predicts that in the next five years, the U.S. welding industry will experience a shortfall in the skilled workforce of approximately 400,000. This has encouraged the development of new technologies to address the dearth of skilled welding equipment operators and cater to customer demand.

According to the report, a key growth driver in the welding equipment market is the emergence of friction stir welding technology in the automotive sector. Friction stir welding technology uses frictional heat coupled with precisely controlled forging pressure to join two metals. This technique imparts high integrity to the final product and makes it defect-free. Mechanical distortions are eliminated as the entire operation takes place under a low operating temperature.

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