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(Transportation-News.com, June 17, 2024 ) As per Maximize Market research, the Friction Stir Welding Market size was valued at USD 338.78 Mn in 2023 and is expected to reach USD 520.95 Mn by 2030, at a CAGR of 6.34 % from forecast 2024 to 2030.
Friction Stir Welding Market Report Scope and Research Methodology:
The friction stir welding report covers a wide range of topics, including the market's size, key drivers, opportunities, challenges, and competitive analysis. The study uses a thorough research methodology that combines primary and secondary research techniques with robust data analysis to provide insights into the current state of the friction stir welding market and projections for the future.
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Friction Stir Welding Market Dynamics:
Market drivers include growing demand for lightweight materials, technological advancements enhancing welding performance, emphasis on sustainable manufacturing, and a rise in automation. Challenges include high initial investment costs, complexity in process optimization, material compatibility issues, and limited knowledge and training hindering market expansion.
Friction Stir Welding Market Regional Analysis:
North America leads the Friction Stir Welding market, driven by its robust infrastructure, high-tech innovations, and widespread adoption across industries like aerospace and automotive. With a strong emphasis on professional leagues and advanced manufacturing techniques, North America maintains its position as the dominant market for friction stir welding technology.
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Friction Stir Welding Market Segmentation
By Equipment Type
Fixed FSW Equipment
Mobile FSW Equipment
By Material
Aluminium alloy
Magnesium
Titanium
Copper
Steel alloys
Others
By Application
Shipbuilding and Offshore
Automotive
Aerospace
Railway
Others
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Friction Stir Welding Market Key Players Includes
Concurrent Technologies Corp.
FOOKE GmbH
Gatwick Technologies Ltd.
HFW Solutions LLC
Hitachi High-Technologies Corp.
Ltd
Maximize Market Research is leading Automotive and Transportation research firm, has also published the following reports:
Automotive Brake Friction Market– The Market size is expected to reach US$ 15.58 Bn by 2029, at a CAGR of 4.14% during the forecast period.
Automotive Pressure Plate Market- The Market is anticipated to reach US$ 74.46 Bn. by 2029 from US$ 52.92 Bn. in 2022 at a CAGR of 5 %.
About Maximize Market Research
Maximize Market Research provides B2B and B2C research on 6,500 high-grow emerging opportunities and technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics and communications, Internet of Things, Food and Beverages, Aerospace and defense, and other manufacturing sectors.
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