Europe Friction Stir Welding Equipment Occupied 39.42% Revenue Market Share In 2017
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In the coming years there is an increasing demand for friction stir welding equipment in the regions of North America and Europe that is expected to drive the market for more advanced friction stir welding equipment. Increasing of industiral used fields expenditures, more-intense competition, launches in introducing new products, retrofitting and renovation of old technology, increasing adoption of friction stir welding equipment of APAC will drive growth of the market.
Globally, the friction stir welding equipment 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 equipment and related services. At the same time, Europe, occupied 39.42% revenue market share in 2017, is remarkable in the global friction stir welding equipment industry because of their market share and technology status of friction stir welding equipment.
The consumption volume of friction stir welding equipment is related to downstream industries and global economy. As there will always be some uncertain in the global economy in the following years, the growth rate of friction stir welding equipment industry may not keep that fast. But it is surely forecasted that the market of friction stir welding equipment is still promising.
The product average price declined in the past few years due to the technology development, the average price will keep the trend in the few future years due to increasing mature manufacturing technology and lowing cost of raw materials.
The impact on the cost and availability of raw materials and certain components is uncertain due to potential supply changes. The costs of raw materials have a significant impact on the level of expenses. If the prices of raw materials and related factors such as energy prices increase, and if new companies cannot pass those price increases on to customers, their results of operations and financial condition would suffer.
With emerging economies growing faster, a strategy has been adopted by most leading vendors in the friction stir welding equipment market to approach these areas. GIR analysis of the friction stir welding equipment market indicated that Europe would account for the highest sales in 2023 with close to 37 percent of global sales value coming from this region, but Asia has the highest growth rate. Vendors recognize the importance of this region, particularly in China, and are working towards penetrating this market by strengthening their sales and distribution networks.
Although the market competition of friction stir welding equipment is fierce globally, there are many enterprises can obtain considerable profit form the manufacturing and marketing of friction stir welding equipment and that is the reason that we believe there will also be enterprises enter this market. But it is suggested that enterprises those have plans to enter this industry have careful analysis of this market and the advantages or disadvantages of themselves.