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Spot Welding Equipment Market By Type (Press Spot Welding, Butt Spot Welding, Seam Spot Welding, Projection Spot Welding, Laser Spot Welding), By Mobility (Fixed Type, Portable Type), By Material (Steel, Aluminum And Alloys), By Application (Construction, Industrial Manufacturing, Aerospace, Railways, Electronics And Semiconductors) – Growth, Future Prospects And Competitive Analysis, 2016 – 2024

Summary
Table Of Content

Market Insights

Spot welding refers to a form of resistance welding wherein two or more metal sheets are joined together by applying heat and pressure to the concerned area. This is achieved using copper alloy electrodes that apply pressure and deliver current (for heating) to the workpieces. In this process, welds are typically made at regular intervals on overlapping sheets of metal so as to ensure uniform joining of the workpieces. Spot welding is primarily used for joining parts having a thickness of up to 3 mm. One of the most prominent aspects of spot welding is that the process does not include any filler material for welding the workpieces. This ensures highly precise finished products with minimal contamination.

Spot welding is used across a wide array of applications, including automotive, industrial manufacturing, aerospace, construction, and several others. The most significant factor fueling the market growth is the steadily growing automotive industry worldwide. The automotive industry contributes to nearly 3/4ths of the total spot welding market. Thus, due to the steady anticipated growth across the global automotive sector, the overall spot welding machines market is projected to continue witnessing robust growth throughout the forecast period. Another major factor contributing to the market’s growth is the superior advantages of the spot welding technique over other welding and conventional joining methods, such as its cost-effectiveness, clean operation, simple working set-up, and fast operation.

The report titled “Spot Welding Equipment Market: Growth, Future Prospects, and Competitive Landscape, 2016-2024” offers strategic insights into the global spot welding equipment market with a focus on the market’s size and estimates for the duration of 2014 to 2024. The research study in question includes an in-depth examination of multiple market segments based on product type, mobility, material, and application and a cross-sectional study across various geographies. The study covers the comparative analysis of different segments for the years 2015 and 2024. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities.

In order to help strategic decision-makers, the report also includes competitive profiling of the leading spot welding equipment manufacturers, their strategies, market positioning, and key developments. Some of the major players profiled in the report include AMADA AMERICA, Inc., ARO Welding Technologies SAS, DECA s.p.a., Emerson Electric Company, and KIRTON WELD EQUIPMENTS PVT. LTD., INTRAN, Miller Electric Mfg. Co., Noble Industries, Inc., Sintec Optronics Pte Ltd., TECHNAX Industrie, T. J. Snow, Co., Vista Industrial Products, Inc., and others.

Other in-depth analysis provided in the report includes:

current and future market trends to justify the forthcoming attractive markets within the spot welding equipment
Market fuels, market impediments, and their impact on market growth
Market inclination insights, including the evolution of welding techniques and key trend analysis for the spot welding equipment market,
in-depth competitive environment analysis
Trailing 2-year market size data (2014–2015)
SRC (Segment, Region, Country) Analysis

Overall, the research study provides a holistic view of the global spot welding equipment market, offering market size and estimates for the period from 2016 to 2024, keeping in mind the above-mentioned factors.

The global spot welding equipment market is segmented, based on its types, into the following categories:

Welding on the Spot
Spot Welding on the Buttocks
spot seam welding
Projection Welding
laser spot welding

As of 2015, press spot welding was the largest segment, in terms of revenue, of the overall spot welding equipment market worldwide. Press-spot welding is the most commonly used and one of the most cost-effective techniques for welding sheet metal. Press-spot welding machines are extensively used for production and assembly lines. In addition, easy integration with robots also presents an opportunity for automation for manufacturers. With the rise in demand for automotive and industrial manufacturing, the press spot welding equipment market is expected to maintain its dominance in the future.

Global markets are currently experiencing high demand for the projection spot welding segment. The projection spot welder is restricted to very few applications due to its limitations. A projection spot welder faces limitations when welding unparalleled sheets; additionally, a projection spot weld is close to a corner or edge, where the welds can have excess spatter from overheating. However, a projection spot welder has the capability of welding a variety of cross-sections and is used for resistance heating, as well as projection electrodes, which carry more current and weld thicker material than spot welding electrodes. Furthermore, the projection spot welder accepts multiple tooling. Owing to the aforementioned merits, a consistent rise in the requirement for projection welding is expected during the forecast period.

The global spot welding equipment market is segmented, based on its application, into the following categories:

Automotive
Construction
Industrial Manufacturing
Aerospace
Railway
Electronics and Semiconductors
Others

Spot welding equipment is used in a wide variety of applications. Manufacturing units involved in sheet metal processing and fabrication extensively use spot welding. On the basis of application, the automotive segment dominated the overall spot welding equipment market in 2015. Spot welding does not require any filler material and has very little thermal distortion compared to other welding methods. As a result, many automotive manufacturers use this type of welding extensively for their frames and chassis.

Spot welding equipment is now integrated with precise positioning robotic arms. The feature of easy automation and the capability of deployment for a wide range of applications has led automotive manufacturers to adopt spot welding machines on their assembly lines for automotive assemblies. With the significant rise in automotive manufacturing, the demand for spot welders has also risen considerably over the course of time.

Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
1.3.4 Assumptions
1.3.5 Approach Adopted

Chapter 2 Executive Summary
2.1 Market Snapshot: Global Spot Welding Machine Market
2.2 Global Spot Welding Machine Market, By Type
2.3 Global Spot Welding Machine Market, By Material
2.4 Global Spot Welding Machine Market, By Mobility
2.5 Global Spot Welding Machine Market, By Application
2.6 Global Spot Welding Machine Market, By Geography

Chapter 3 Market Dynamics
3.1 Introduction
3.1.1 Global Spot Welding Machine Market Revenue, 2014 – 2024, (US$ Mn)
3.2 Market Dynamics
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Impact Analysis of Drivers and Restraints
3.3 Attractive Investment Proposition

Chapter 4 Market Inclination Insights: Spot Welding Machine
4.1 Overview
4.1.1 Evolution of Welding Techniques
4.1.2 Key Trends Analysis

Chapter 5 Global Spot Welding Machine Market, By Type
5.1 Overview
5.2 Press Spot Welding
5.2.1 Global Press Spot Welding Machine Market Revenue and Growth, 2014 – 2024, (US$ Mn)
5.3 Butt Spot Welding
5.3.1 Global Butt Spot Welding Machine Market Revenue and Growth, 201 – 2024, (US$ Mn)
5.4 Seam Spot Welding
5.4.1 Global Seam Spot Welding Machine Market Revenue and Growth, 2014 – 2024, (US$ Mn)
5.5 Projection Spot Welding
5.5.1 Global Projection Spot Welding Machine Market Revenue and Growth, 201 – 2024, (US$ Mn)
5.6 Laser Spot Welding
5.6.1 Global Laser Spot Welding Machine Market Revenue and Growth, 2014 – 2024, (US$ Mn)

Chapter 6 Global Spot Welding Machine Market, By Mobility
6.1 Overview
6.2 Fixed Type
6.2.1 Global Fixed Type Spot Welder Market Revenue and Growth, 2014 – 2024, (US$ Mn)
6.3 Portable Type
6.3.1 Global Portable Type Spot Welder Market Revenue and Growth, 2014 – 2024, (US$ Mn)

Chapter 7 Global Spot Welding Machine Market, By Material
7.1 Overview
7.2 Steel
7.2.1 Global Spot Welder Market for Steel Revenue and Growth, 2014 – 2024, (US$ Mn)
7.3 Aluminum and Alloys
7.3.1 Global Spot Welder Market for Aluminium and Alloys Revenue and Growth, 2014 – 2024, (US$ Mn)
7.4 Others
7.4.1 Global Spot Welder Market for Others Revenue and Growth, 2014 – 2024, (US$ Mn)

Chapter 8 Global Spot Welding Machine Market, By Application
8.1 Automotive
8.1.1 Global Spot Welding Machine Market for Automotive Market Revenue and Growth, 2014 – 2024, (US$ Mn)
8.2 Construction
8.2.1 Global Spot Welding Machine Market for Construction Market Revenue and Growth, 2014 – 2024, (US$ Mn)
8.3 Industrial Manufacturing
8.3.1 Global Spot Welding Machine Market for Industrial Manufacturing Market Revenue and Growth, 2014 – 2024, (US$ Mn)
8.4 Aerospace
8.4.1 Global Spot Welding Machine Market for Aerospace Market Revenue and Growth, 2014 – 2024, (US$ Mn)
8.5 Railways
8.5.1 Global Spot Welding Machine Market for Railways Market Revenue and Growth, 2014 – 2024, (US$ Mn)
8.6 Electronics and Semiconductors
8.6.1 Global Spot Welding Machine Market for electronics and semiconductors Market Revenue and Growth, 2014 – 2024, (US$ Mn)
8.7 Others
8.7.1 Global Spot Welding Machine Market for Others Market Revenue and Growth, 2014 – 2024, (US$ Mn)

Chapter 9 North America Spot Welding Machine Market Analysis
9.1 Overview
9.1.1 North America Spot Welding Machine Market Revenue and Growth, 2014 – 2024, (US$ Mn) (Y-o-Y %)
9.2 North America Spot Welding Machine Market Analysis, By Type, 2014 – 2024 (US$ Mn)
9.2.1 Comparative Analysis
9.3 North America Spot Welding Machine Market Analysis, By Mobility, 2014 – 2024 (US$ Mn)
9.3.1 Comparative Analysis
9.4 North America Spot Welding Machine Market Analysis, By Material, 2014 – 2024 (US$ Mn)
9.4.1 Comparative Analysis
9.5 North America Spot Welding Machine Market Analysis, By Application, 2014 – 2024 (US$ Mn)
9.5.1 Comparative Analysis
9.6 North America Spot Welding Machine Market Analysis, By Region, 2014 – 2024 (US$ Mn)
9.6.1 Comparative Analysis

Chapter 10 Europe Spot Welding Machines Market Analysis
10.1 Overview
10.1.1 Europe Spot Welding Machines Market Revenue and Growth, 2014 – 2024, (US$ Mn) (Y-o-Y %)
10.2 Europe Spot Welding Machines Market Analysis, By Type, 2014 – 2024 (US$ Mn)
10.2.1 Comparative Analysis
10.3 Europe Spot Welding Machines Market Analysis, By Mobility, 2014 – 2024 (US$ Mn)
10.3.1 Comparative Analysis
10.4 Europe Spot Welding Machines Market Analysis, By Material, 2014 – 2024 (US$ Mn)
10.4.1 Comparative Analysis
10.5 Europe Spot Welding Machines Market Analysis, By Application, 2014 – 2024 (US$ Mn)
10.5.1 Comparative Analysis
10.6 Europe Spot Welding Machine Market Analysis, By Region, 2014 – 2024 (US$ Mn)
10.6.1 Comparative Analysis

Chapter 11 Asia Pacific Spot Welding Machine Market Analysis
11.1 Overview
11.1.1 Asia Pacific Spot Welding Machine Market Revenue and Growth, 2014 – 2024, (US$ Mn)
11.2 Asia Pacific Spot Welding Machine Market Analysis, By Type, 2014 – 2024 (US$ Mn)
11.2.1 Comparative Analysis
11.3 Asia Pacific Spot Welding Machine Market Analysis, By Mobility, 2014 – 2024 (US$ Mn)
11.3.1 Comparative Analysis
11.4 Asia Pacific Spot Welding Machine Market Analysis, By Material, 2014 – 2024 (US$ Mn)
11.4.1 Comparative Analysis
11.5 Asia Pacific Spot Welding Machine Market Analysis, By Application, 2014 – 2024 (US$ Mn)
11.5.1 Comparative Analysis
11.6 Asia Pacific Spot Welding Machine Market Analysis, By Region, 2014 – 2024 (US$ Mn)
11.6.1 Comparative Analysis

Chapter 12 Rest of the World (RoW) Spot Welding Machines Market Analysis
12.1 Overview
12.1.1 RoW Spot Welding Machines Market Revenue and Growth, 2014 – 2024, (US$ Mn) (Y-o-Y %)
12.2 RoW Spot Welding Machines Market Analysis, By Type, 2014 – 2024 (US$ Mn)
12.2.1 Comparative Analysis
12.3 RoW Spot Welding Machines Market Analysis, By Mobility, 2014 – 2024 (US$ Mn)
12.3.1 Comparative Analysis
12.4 RoW Spot Welding Machines Market Analysis, By Material, 2014 – 2024 (US$ Mn)
12.4.1 Comparative Analysis
12.5 RoW Spot Welding Machines Market Analysis, By Application, 2014 – 2024 (US$ Mn)
12.5.1 Comparative Analysis
12.6 RoW Spot Welding Machines Market Analysis, By Region, 2014 – 2024 (US$ Mn)
12.6.1 Comparative Analysis

Chapter 13 Company Profiles
13.1 AMADA AMERICA, INC.
13.1.1 AMADA AMERICA, INC.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
13.2 ARO Welding Technologies SAS
13.2.1 ARO Welding Technologies SAS: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
13.3 DECA s.p.a.
13.3.1 DECA s.p.a.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
13.4 Emerson Electric Company (Branson)
13.4.1 Emerson Electric Company (Branson): Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
13.5 KRITON WELD EQUIPMENTS PVT. LTD.
13.5.1 KRITON WELD EQUIPMENTS PVT. LTD.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
13.6 INTRAN
13.6.1 INTRAN: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
13.7 Miller Electric Mfg. Co.
13.7.1 Miller Electric Mfg. Co.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
13.8 Noble Industries, Inc.
13.8.1 Noble Industries, Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
13.9 Sintec Optronics Pte Ltd.
13.9.1 Sintec Optronics Pte Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
13.10 TECHNAX Industrie
13.10.1 TECHNAX Industrie: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
13.11 T. J. Snow, Co.
13.11.1 T. J. Snow, Co.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
13.12 Vista Industrial Products, Inc.
13.12.1 Vista Industrial Products, Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)

List of Figures

FIG. 1 Global Spot Welding Machines Market: Research Methodology
FIG. 2 Top-Down and Bottom Up Approach
FIG. 3 Global Spot Welding Machine Market, By Type, 2015 (US$ Mn)
FIG. 4 Global Spot Welding Machine Market, By Material, 2015 (US$ Mn)
FIG. 5 Global Spot Welding Machine Market, By Mobility, 2015 (US$ Mn)
FIG. 6 Global Spot Welding Machine Market, By Application, 2015 (US$ Mn)
FIG. 7 Global Spot Welding Machine Market, By Geography, 2015 (US$ Mn)
FIG. 8 Global Spot Welding Machine Market Revenue, 2014 – 2024, (US$ Mn)
FIG. 9 Attractive Investment Proposition
FIG. 10 Evolution of Welding Techniques
FIG. 11 Global Spot Welding Market Revenue Share, By Type, 2015 & 2024 (Revenue Share)
FIG. 12 Global Press Spot Welding Machine Market Revenue and Growth, 2014 – 2024, (US$ Mn)
FIG. 13 Global Butt Spot Welding Machine Market Revenue and Growth, 201 – 2024, (US$ Mn)
FIG. 14 Global Seam Spot Welding Machine Market Revenue and Growth, 2014 – 2024, (US$ Mn)
FIG. 15 Global Projection Spot Welding Machine Market Revenue and Growth, 201 – 2024, (US$ Mn)
FIG. 16 Global Laser Spot Welding Machine Market Revenue and Growth, 2014 – 2024, (US$ Mn)
FIG. 17 Global Spot Welding Machines Market Revenue Share, By Mobility, 2015 & 2024 (Revenue Share %)
FIG. 18 Global Fixed Type Spot Welder Market Revenue and Growth, 2014 – 2024, (US$ Mn)
FIG. 19 Global Portable Type Spot Welder Market Revenue and Growth, 2014 – 2024, (US$ Mn)
FIG. 20 Global Spot Welding Machine Market Revenue Share, By Material, 2015& 2024(Revenue Share %)
FIG. 21 Global Spot Welder Market for Steel Revenue and Growth, 2014 – 2024, (US$ Mn)
FIG. 22 Global Spot Welder Market for Aluminium and Alloys Revenue and Growth, 2014 – 2024, (US$ Mn)
FIG. 23 Global Spot Welder Market for Others Revenue and Growth, 2014 – 2024, (US$ Mn)
FIG. 24 Global Spot Welding Machine Market Revenue Share, By Application, 2015 & 2024 (Revenue Share %)
FIG. 25 Global Spot Welding Machine Market for Automotive Market Revenue and Growth, 2014 – 2024, (US$ Mn)
FIG. 26 Global Spot Welding Machine Market for Construction Market Revenue and Growth, 2014 – 2024, (US$ Mn)
FIG. 27 Global Spot Welding Machine Market for Industrial Manufacturing Market Revenue and Growth, 2014 – 2024, (US$ Mn)
FIG. 28 Global Spot Welding Machine Market for Aerospace Market Revenue and Growth, 2014 – 2024, (US$ Mn)
FIG. 29 Global Spot Welding Machine Market for Railways Market Revenue and Growth, 2014 – 2024, (US$ Mn)
FIG. 30 Global Spot Welding Machine Market for electronics and semiconductors Market Revenue and Growth, 2014 – 2024, (US$ Mn)
FIG. 31 Global Spot Welding Machine Market for Others Market Revenue and Growth, 2014 – 2024, (US$ Mn)
FIG. 32 North America Spot Welding Machine Market Revenue and Growth, 2014 – 2024, (US$ Mn) (Y-o-Y %)
FIG. 33 Europe Spot Welding Machines Market Revenue and Growth, 2014 – 2024, (US$ Mn) (Y-o-Y %)
FIG. 34 Asia Pacific Spot Welding Machine Market Revenue and Growth, 2014 – 2024, (US$ Mn) (Y-o-Y %)
FIG. 35 RoW Spot Welding Machines Market Revenue, 2014 – 2024, (US$ Mn)

List of Tables

TABLE 1 Market Snapshot: Global Spot Welding Machine Market
TABLE 1 Automotive Production in Leading Asia Pacific Countries, 2011 – 2015
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 North America Spot Welding Machine Market Revenue, By Type, 2014 – 2024 (US$ Mn)
TABLE 5 North America Spot Welding Machine Market Revenue, By Mobility, 2014 – 2024 (US$ Mn)
TABLE 6 North America Spot Welding Machine Market Revenue, By Material, 2014 – 2024 (US$ Mn)
TABLE 7 North America Spot Welding Machine Market Revenue, By Application, 2014 – 2024 (US$ Mn)
TABLE 8 North America Spot Welding Machine Market Revenue, By Region, 2014 – 2024 (US$ Mn)
TABLE 9 Europe Spot Welding Machines Market Revenue, By Type, 2014 – 2024 (US$ Mn)
TABLE 10 Europe Spot Welding Machines Market Revenue, By Mobility, 2014 – 2024 (US$ Mn)
TABLE 11 Europe Spot Welding Machines Market Revenue, By Material, 2014 – 2024 (US$ Mn)
TABLE 12 Europe Spot Welding Machines Market Revenue, By Application, 2014 – 2024 (US$ Mn)
TABLE 13 Europe Spot Welding Machine Market Revenue, By Region, 2014 – 2024 (US$ Mn)
TABLE 14 Asia Pacific Spot Welding Machine Market Revenue, By Type, 2014 – 2024 (US$ Mn)
TABLE 15 Asia Pacific Spot Welding Machine Market Revenue, By Mobility, 2014 – 2024 (US$ Mn)
TABLE 16 Asia Pacific Spot Welding Machine Market Revenue, By Material, 2014 – 2024 (US$ Mn)
TABLE 17 Asia Pacific Spot Welding Machine Market Revenue, By Application, 2014 – 2024 (US$ Mn)
TABLE 18 Asia Pacific Spot Welding Machine Market Revenue, By Region, 2014 – 2024 (US$ Mn)
TABLE 19 RoW Spot Welding Machines Market Revenue, By Type, 2014 – 2024 (US$ Mn)
TABLE 20 RoW Spot Welding Machines Market Revenue, By Mobility, 2014 – 2024 (US$ Mn)
TABLE 21 RoW Spot Welding Machines Market Revenue, By Material, 2014 – 2024 (US$ Mn)
TABLE 22 RoW Spot Welding Machines Market Revenue, By Application, 2014 – 2024 (US$ Mn)
TABLE 23 RoW Spot Welding Machine Market Revenue, By Region, 2014 – 2024 (US$ Mn)
TABLE 24 AMADA AMERICA, INC.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
TABLE 25 ARO Welding Technologies SAS: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
TABLE 26 DECA s.p.a.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
TABLE 27 Emerson Electric Company (Branson): Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
TABLE 28 KRITON WELD EQUIPMENTS PVT. LTD.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
TABLE 29 INTRAN: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
TABLE 30 Miller Electric Mfg. Co.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
TABLE 31 Noble Industries, Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
TABLE 32 Sintec Optronics Pte Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
TABLE 33 TECHNAX Industrie: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
TABLE 34 T. J. Snow, Co.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)
TABLE 35 Vista Industrial Products, Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, Recent Developments)

Frequently Asked Questions:

What is the size of Spot Welding Equipment Market?

The market for Spot Welding Equipment Market is expected to reach XX Mn in 2024.

What is the Spot Welding Equipment Market CAGR?

The Spot Welding Equipment Market is expected to see significant CAGR growth over the coming years, at 6.1 %

What is the Forecast period considered for Spot Welding Equipment Market?

The report is forecasted to 2016-2024.

What is the base year considered for Spot Welding Equipment Market?

The base year of this report is 2015.

Who are the major players in this Market?

AMADA AMERICA, INC.,ARO Welding Technologies SAS,DECA s.p.a., Emerson Electric Company (Branson),KRITON WELD EQUIPMENTS PVT. LTD. are some of the major players in the global market.

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