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The welding power supply market size is forecast to increase by USD 2.99 billion at a CAGR of 6.6% between 2023 and 2028. The market is experiencing significant growth, driven by the construction and shipbuilding industries' increasing demand for energy-efficient solutions. Inverter-based welding power supplies, which offer improved energy efficiency, are gaining popularity. The automotive industry's shift towards lighter magnesium alloys for vehicle weight reduction and better fuel economy is another key trend. Robotic welding is also on the rise, particularly in the automotive sector, due to its ability to enhance productivity and consistency. The Internet of Things (IoT) and Artificial Intelligence (AI) are transforming the industry by enabling predictive maintenance and real-time process optimization. Despite these opportunities, intense competition remains a challenge. The market is experiencing notable growth, fueled by the construction and shipbuilding sectors' demand for energy-efficient solutions. Inverter-based welding power supplies, which offer enhanced energy efficiency, are gaining traction. Robotic welding, which boosts productivity and consistency, is increasingly popular in the automotive sector. The integration of the Internet of Things (IoT) and Artificial Intelligence (AI) in welding processes enables predictive maintenance and real-time optimization. However, the market faces intense competition.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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