Global Welding Power Supply Market 2018-2022
About this market
Traditional transformer- style welding power sources are considerably larger and draw large amount of power as compared to inverter- based welding power supply. This leads to a higher utility bill and limits the number of power sources. Inverter- based power sources for welding, however offer a lower power draw and more flexibility in terms of number of units that can be run on the existing power. The preference of inverter over transformer- based power sources in welding is space saving. An inverter power supply is smaller in height and width, making it much easier to fit into weld cells and move around. Therefore, the energy efficiency due to inverter-based welding supply is identified as a significant factor responsible for welding power supply market growth at a CAGR of over 5% during the forecast period.
Energy efficiency due to inverter- based welding power supply
Inverter- based power sources for welding however, offer a lower power draw and more flexibility in terms of the number of units that can be run on the existing power.
The expansion of the market has led to increased entry of local players, which has intensified the price wars among the competitors, forcing then to reduce prices of their products. This has led to the development and introduction of low- quality products, which is expected to impede the growth of the welding power supply market during our forecast period.
For the detailed list of factors that will drive and challenge the growth of the welding power supply market during the 2018-2022, view our report.
The global welding power supply market is fairly fragmented. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Welding Power Supply Market 2018-2022
Technavio recognizes the following companies as the key players in the welding power supply market: AMADA HOLDINGS, Colfax, Fronius, Illinois Tool Works, Lincoln Electric.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the new materials like magnesium are expected to create a need for new and updated power supply tools and machines that will assist in welding such finely turned metals.”
According to the report, one of the major drivers for this market is the energy efficiency due to inventers- based welding power supply.
Further, the report states that one of the major factors hindering the growth of this market is the availability and prices for energy costs and raw materials, including steel and many more are subject to volatility and are influenced by many factors.
Illinois Tool Works
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