The ultrasonic metal welding equipment market is expected to grow by USD 37.42 million during 2021-2025, according to the new report from Technavio. This marks a significant market slow down compared to the 2020 growth estimates due to the impact of the COVID-19 pandemic, in the first half of 2021. In addition, the report projects the market to accelerate at a CAGR of almost 4%.
The ultrasonic metal welding equipment market is driven by the growing demand for Li-ion Batteries. In addition, the increasing electrical and electronic content in automobiles is anticipated to boost the growth of the ultrasonic metal welding equipment market.
Lithium-ion (Li-ion) batteries are extensively used in consumer electronic products. The use of several consumer electronics, including smartphones, smart wearables, among others, is increasing globally. In addition, the rising awareness about the need to reduce vehicular emissions and government support for the same is triggering the adoption of electric vehicles. These factors are driving the demand for Li-ion batteries. Li-ion battery manufacturers use the ultrasonic welding technique to join the different metals that are used in Li-ion batteries. Due to the growing demand for Li-ion batteries, Li-ion battery manufacturers are expanding their manufacturing plants in different regions. Such investments are increasing the demand for the ultrasonic metal welding equipment market during the forecast period.