India micro welding market is estimated to grow at a significant CAGR during the forecast period. Expansion of automobile and electronics production is the major factor contributing to the market growth in the country. As per the India Brand Equity Foundation (IBEF), domestic production of automobiles grew at nearly 2.4% CAGR during the period, 2016-2020 with nearly 26.4 million vehicles being produced in the country in 2020. Foreign automobile companies are expanding their production base in the country. Foreign companies are expanding their production facilities in this region owing to the availability of low-cost labor and raw material in the country. Increasing FDI approval is supporting the entrance of international automobile firms in the region, which is leading the adoption of micro welding machines owing to their benefits over other joining processes.
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India micro welding market is segmented on the basis of type and application. Based on the type, the market is segmented into micro resistance welding, micro pulse arc welding, and others. Further, on the basis of application, the market is segmented into electrical & electronics, medical, automotive, aerospace & defense, telecom, and others. The expansion of the electronics industry in the country tends to drive the segmental growth of the market.
As per the India Brand Equity Foundation (IBEF), production of electronics hardware in India rose from $31.13 billion in 2014 to $65.53 billion in 2019. Further, as per the Department for Promotion of Industry and Internal Trade (DPIIT), during the period, April 2000-March 2020, in the electronics sector, the inflow of foreign direct investment (FDI) stood at $2.8 billion. The increasing production of electronics products is driving the demand for micro welding machines as these are widely used for myriad electrical connections, fine wire welding, circuit board traces, wire termination, printed circuit board (PCB) repair, pencil coils, hot bar-reflow soldering, and more.
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Companies operating in the market include Micro Weld India, Crux Industrial Equipment Pvt Ltd., Electro Plasma Equipments Pvt Ltd., Ador Welding Ltd., and Electroweld Industries. Micro Weld India is a manufacturer, supplier, importer, and distributor of metal inert gas (MIG) welding equipment, ARC welding machine, TIG welding machine, welding equipment, and stainless-steel electrodes. The Group is engaged in the production of welding machines, welding electrodes, and welding accessories. Crux is engaged in the production and distribution of a range of MIG Welding Machine, Inverter Arc Welding, Inverter TIG Welding, and more.
India Micro Welding Market- Segmentation
By Type
- Micro Resistance Welding
- Micro Pulse Arc Welding
- Others (Laser Welding)
By Application
- Electrical &Electronics
- Medical
- Automotive
- Aerospace &Defense
- Telecom
- Others
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