A recent comprehensive study done through ICRWord Research estimated a significant growth in the global stud welding market over the next five years. This forecast of trends and overall growth considered several aspects of the industry, including the major suppliers, geolocations, and specialized sections of each industry. Because we play a part in the global stud welding industry, we at Northland Fastening Systems (NFS) know how important it is to understand market trends. NFS supplies a complete range of stud welding supplies from stud guns for rent or purchase to a wide choice of stud dimensions.
There are many reasons why there is a forecasted growth in the global stud welding market even in the face of a global pandemic. While the market growth can be broken down into details as specific as #-thread count stud sales, generally speaking, there are some aspects in our changing world that have contributed to projected increases in the market. Some significant factors include the following:
Population and world growth: Because Earth’s population is continually increasing, it’s understandable that demand for products made with stud welding practices would also increase. In addition to an overall upturn in demand from population growth, there is also a rise in developing nations. Countries that in the past showed lower demand for new stud welded products are now generating their own increases in demand for common goods like automobiles, food industry equipment, electrical equipment, and more. This also includes increases in city planning, leading to the need for more stud welding construction projects like bridges and housing complexes.
Technology advancements: We live in a time of extreme technological growth. Smart technology is just the tip of the iceberg when it comes to the new designs and engineering involved in many tools used globally. From electrical enclosures to shipbuilding, stud welding is indispensable for a large number of advanced products in the manufacturing world today. Because stud welding is such an efficient and clean operation, manufacturers work it into a new design whenever possible.
Online distribution: Accommodating increased demand for stud welding products globally wouldn’t be possible today without the capabilities of online distribution. Digital distribution systems with the help of WiFi and online processing systems help suppliers get a wide range of stud welding products where they need to go quickly, accurately, and efficiently. Processing products with high-powered software systems and logging tracking data digitally is a key part of the industrial grade online distribution of stud welding supplies.
Increased demand from a growing population, newly developed countries, and more advanced technology set up the potential for serious market growth. That, paired with the extreme efficiency and capabilities of online distribution, are a large part of the market growth forecast for the next five years.