The global friction stir welding equipment market was valued at USD 186.4 Million in 2019 and is projected to reach USD 330.1 Million by 2027, expanding at a CAGR of 7.0% during the forecast period.
Friction Stir Welding Equipment Products manufacturers are leveraging e-commerce network at international level to expand their geographical area of presence. Also, the leading manufacturers are maintaining their own sales by offering purchase option on respective websites. The sale of Friction Stir Welding Equipment Products through e-commerce websites such as Amazon, Walmart, Flipkart, and others is expected to be increasing due to rising preference for this websites from customers.
Global Friction Stir Welding Equipment Market: Marketing Channel
Marketing channel decisions are as important as the decisions companies make about the features and prices of products. Consumers have become more demanding. They are used to getting what they want. If one can’t get the product to them when, and how they want it, they will simply buy a competing product. In other words, how companies sell has become as important as what they sell. The firms a company partners with to actively promote and sell a product as it travels through its marketing channel to users are refers to by the firm as its channel members (or partners). Companies strive to choose not only the best marking channels but also the best channel partners it can depend on to continuously provide it with great products that fly off the shelves. By contrast, a weak channel partner, like a bad spouse, can be a liability.
Companies partner with intermediaries not because they necessarily want but because the intermediaries can help them sell the products better than they could work alone. In other words, they have some sort of capabilities the producers need; contact with many customers or the right customers, marketing expertise, shipping and handling capabilities, and the ability to lend the producer credit are among the types of help a firm can get by utilizing a channel partner.
Intermediaries also create efficiencies by streaming the number of transactions an organization must make, each of which takes time and costs money o conduct. The marketing environment is always changing, so what was great channel or channel partner yesterday might not be a great channel partner today. Changes in technology, production techniques, and your customers need mean you have to continually reevaluate your marketing channels and the channel partners you ally yourself with. Moreover, when you create a new product, you can’t assume the channels that were used in the past are the best ones.
Direct marketing is one of the widely used channels. Successful direct marketing involves consistently supplying safe, high-quality products that support the development of a trust relationship between supplier and customers.
Direct marketing for any product can simplify transaction and provide more protectors to customers. And the price moves higher which is mostly driven by middle business All of the middle company have their owe profit goal and will bring up the price. Direct marketing is an On-Premise channel system and it should understand the needs of the customers and carry on the innovation and reform on the basis of integrating market resources. Direct sales may appear increasing trend.
The indirect marketing strategy focuses on channels where there is no direct communication with customers by the companies. Therefore, it is mainly used to retain customer, increase customer’s loyalty, and develop more business.
Based on types, the friction stir welding equipment market has categorized as desktop equipment, gantry equipment, others. The desktop equipment segment holds major market share, while gantry equipment segment is expected to grow at significant rate during the forecast period.
In terms of applications, the friction stir welding equipment market has been segmented into aerospace, automotive, shipbuilding, railways, others. The automotive segment represents major market share in 2019 and is projected to expand at considerable CAGR during forecast period.
Based on regions, the global friction stir welding equipment market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Friction Stir Welding Equipment market in Asia Pacific is anticipated to expand at a significant CAGR during the forecast period. The market in India and Japan are also projected to expand at substantial pace during the forecast period. Increasing government & private sector investments in Asia Pacific's construction industry drives the aerial work platform market in the region. The Government of India spends heavily on upgrading its public transport infrastructure including airports, railway stations, and metro stations, thus promoting construction machinery adoption. The market in Latin America and Middle East & Africa is projected to expand at a sluggish CAGR due to the implementation of environmental standards and legislation and less consumption of friction stir welding equipment.
Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the report covers types of friction stir welding equipment such as desktop equipment, gantry equipment, and others.
According to this Growth Market Reports report, the market from Friction Stir Welding Equipment is likely to register a CAGR of 7.0% during forecast period 2020-2027, with an anticipated valuation of USD 330.1 million by the end of the 2027.
In addition to market size (in USD Million) and Company Market Share (in % for base year 2019), other data such Macro-economic factors, COVID-19 Impact on the Friction Stir Welding Equipment is available in final report.
The market is driven by increasing demand of friction stir welding equipment in different applications.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to witness sluggish rate owing to the negative impact of COVID-19 pandemic on the friction stir welding equipment market.
The base year considered for the global Friction Stir Welding Equipment market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
Aerospace, automotive, shipbuilding, railways, and others are the key applications that are driving the friction stir welding equipment market.
Major Manufactures include, Concurrent Technologies Corp., FOOKE GmbH, Gatwick Technologies Ltd., HFW Solutions LLC, Hitachi High-Technologies Corp. and Others.
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