Welding Equipment & Consumables Market 2021 | by Top Players: Arcon, DAIHEN Corporation, Doncasters Group, ESAB Group, Fronius International GmbH, Lincoln Electric Company
Global welding equipment & consumables market is anticipated to depict a CAGR of 4.5% through 2024, having recorded a valuation of USD 20.8 billion in 2017. By 2024, the market is expected to hit a remuneration of USD 28.3 billion
The extensive proliferation in the application spectrum of welding equipment & consumables market has locked exceptional gains for the industry in the coming years. The massive application gamut that spans the automobiles, aerospace, buildings & construction, oil & gas industries are certain to garner huge demand for welding equipment and uplift the market trends in the ensuing years. The fact that aforementioned end-use sectors find extensive usage of several welding equipment in industrial & fabrication processes, turns out to be a fundamental factor fueling welding equipment & consumables industry expansion.
Get sample copy of this research report @ https://www.decresearch.com/request-sample/detail/2050
The welding electrodes and flux cored wires are poised to remain the major consumables, while other products such as solid wires, SAW & Fluxes are likely to exhibit significant growth trends. In 2016, the flux cored wires segment within the welding equipment & consumables market generated revenue worth USD 900 million, acquiring a subsequent chunk of the industry share.
Myriad construction initiatives undertaken by the local government for developing the regional infrastructure will foster the regional welding equipment & construction market trends. Electrical welding equipment and consumables are widely used in the construction of building and bridges for cutting and fabrication of metals – a factor propelling welding equipment & consumables demand in the construction sector. In 2016, Asia Pacific construction spending accounted for over USD 4 trillion and contributed to more than 45% of worldwide construction expenditure.
Taking into account the geographical landscape, Asia Pacific is touted to be the prime revenue pocket and is anticipated to account for more than 40% of the global welding equipment & consumables industry share by 2024. The vast application scope in the region, on account of expanding growth opportunities in automobile, construction, shipbuilding, transportation, and aerospace industries is poised to provide remarkable threshold to the regional welding equipment & consumables market in the forthcoming years.
With all the above-mentioned facts in view, technological innovations, expanding application spectrum, and growing geographical reach are certain to add a new dynamism to welding equipment & consumables industry in terms of revenue and commercialization.
ESAB Group, Lincoln Electric Company, Miller Electric, Senor Metals Private Limited, Arcon, Panasonic Corporation, and Miyachi America Corporation are some of the prominent industry players attempting to bring technological interventions in the welding equipment & consumables market. These companies highly rely on product advancements and mergers & acquisitions to sustain in the competitive scenario. Lincoln Electric Company, for instance, has recently signed an agreement with Air Liquide to buyout its Air Liquide Welding subsidiary. On account of this merger, the combined unit is set to enhance the global specialty consumables portfolio by offering more comprehensive welding and cutting solutions. In addition, the company is also expecting its extension of channels across the region. Such growth strategies are likely to bring even more consolidation and fierce competition in welding equipment & consumables market trends.
Get This Report Customized To Your Requirements@ https://www.decresearch.com/roc/2050
Some Point from Table of Contents:
Chapter 5. Welding Equipment & Consumables Market, By Application
5.1. Global welding equipment & consumables market share by application, 2017 & 2024
5.2. Automobile & transportation
5.2.1. Market estimates and forecast, 2013 - 2024
5.2.2. Market estimates and forecast, by region, 2013–2024
5.3. Building & construction
5.3.1. Market estimates and forecast, 2013 - 2024
5.3.2. Market estimates and forecast, by region, 2013–2024
5.4. Marine applications
5.4.1. Market estimates and forecast, 2013 - 2024
5.4.2. Market estimates and forecast, by region, 2013–2024
5.5. Aerospace & defense
5.5.1. Market estimates and forecast, 2013 - 2024
5.5.2. Market estimates and forecast, by region, 2013–2024
5.6. Oil & gas
5.6.1. Market estimates and forecast, 2013 - 2024
5.6.2. Market estimates and forecast, by region, 2013 – 2024
5.7. Metal working applications
5.7.1. Market estimates and forecast, 2013 - 2024
5.7.2. Market estimates and forecast, by region, 2013 – 2024
5.8. Others (Heavy machineries manufacturing, mining, & quarrying, etc.
5.8.1. Market estimates and forecast, 2013 - 2024
5.8.2. Market estimates and forecast, by region, 2013–2024
Browse complete Table of Contents (ToC) of this research report @
https://www.decresearch.com/toc/detail/welding-equipment-and-consumables-market