Welded Metal Bellows Market to Generate USD 354.3 million by 2027; Increasing Adoption of the Products across Several Industries to Bolster Growth

The global welded metal bellows market size is expected to register USD 354.3 million by 2027, while exhibiting a CAGR of 5.1% between 2020 and 2027. Fortune Business Insights, publish this information in its latest report, titled “Welded Metal Bellows Market Size, Share & Industry Analysis, By Type (Stainless Steel Bellows, High Nickel Alloys, Others), By Application (High Vacuum Seals, Leak-Free Motion Feedthroughs, Flexible Joints, Volume Compensators, Accumulators, Pressure and Temperature Actuators), and Regional Forecast, 2020-2027” Increasing application of the product across several industries such as oil & gas industries, aerospace, and healthcare, among others is favoring the market growth. Furthermore, the report observes that the market was worth USD 239.8 million in 2019.

Hyspan Precision Completes the Acquisition of American Boa’s Assets

Fortune Business Insights through its qualitative and quantitative analysis reports that the global welded metal bellows market is highly competitive comprising of several players trying to consolidate their position. Among them is Hyspan Precision Products, Inc. that is striving to maintain market stronghold by adopting strategies such as expansion of product offerings. For instance, in January 2020, the company announced that it has acquired the assets of America Boa Incorporated. Hyspan that manufactures metal bellows products divulged the details that the assets include all the representation involving the manufacturing of metal hose by the Boa Flexible Solutions S.A.S. Although, complete details about the monetary transactions were unknown, Hyspan plans to strengthen its market position by expanding its portfolio that includes quality products from American Boa.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/welded-metal-bellows-market-103019

Global Industrialization to Advance Market Growth

The increasing demand for welded metal bellows across several industrial peripherals such as automotive, oil & gas, power generation, and semiconductors, among others is driving the growth of this global market during the forecast period. The manufacturers across several regions such as the Asia-Pacific, North America, Europe, and the rest of the globe are actively focusing on producing customer-centric metal bellows. For instance, BellowsTech, a prominent manufacturer of high quality edge welded bellows and assemblies, offers its customized stainless steel bellows that are flexible and can withstand high pressure, temperature, and corrosive media associated particularly with the oil & gas industry.

COVID-19 to Inhibit Market Growth to Some Extent

Before the novel coronavirus, COVID-19 hit hard on several economies across the globe, the market was witnessing significant growth. However, the lockdown announced by the government agencies to contain the widespread effect of the coronavirus, completely resulted in shutdown of manufacturing industries across the globe. The temporary shutdown will result in disruption of the supply chain to some extent. Therefore, the market will experience a temporary setback but once the manufacturing activities resume, may pick up gradual pace in the coming years.

Merger and Acquisition Strategies by the Companies to Augur Growth

The global welded metal bellow market comprises of several small, medium, and larger companies proliferating in the market. Fortune Business Insights reports that the market is fiercely competitive and the companies’ constant efforts to strengthen their market position is likely to bode well for the market growth during the forecast period. Adoption of strategies such as merger and acquisition, collaboration, and partnership by the companies is anticipated to surge the market demand between 2020 and 2027.

List of the Companies Operating in the Market:

• KSM CO., LTD. (Gyeonggi-do, Republic of Korea)
• BOA Group (Karlsruhe, Germany)
• TECHNETICS GROUP. (Columbia, United States)
• AESSEAL (South Yorkshire, United Kingdom)
• Senior plc (Rickmansworth, United Kingdom)
• Metal-Flex Welded Bellows, Inc. (Vermont, Switzerland)
• Duraflex Inc. (Illinois, United States)
• Mirapro Co., Ltd. (Yamanashi Prefecture, Japan)
• Flex–A-Seal (Vermont, United States)
• Weldmac Manufacturing Co. (California, United States)
• Eagle Industry Co., Ltd. (Kanto Japan)
• Hyspan Precision Products, Inc. (California, United States)

Further Report Findings:

• The market in Asia-Pacific was worth USD 92.1 million in 2019 and is likely to hold highest global welded metal bellows market revenue in the forthcoming years. This is ascribable to factors such as increasing demand for metal bellows from several industries such as military & defense, petrochemical, and automotive in the region. Furthermore, supportive government initiatives to promote manufacturing sector in the region will boost the market growth.
• North America, on the other hand, will witness moderate growth for the market during the forecast period. This is attributable to factors such as increasing demand from the aerospace industry.
• The segment Stainless Steel (By Type) held the highest share of 68.2% in 2019 and is likely to witness growth during the projected horizon. Stainless steel welded bellows offer high degree of flexibility and better pressure resistance capability that is driving its demand across several industries.
• The segment Flexible Joints (By Application) will witness steady growth for the market owing to increasing adoption for hydraulic and mechanical purposes in industries.

Table of Segmentation: