Global Welding Products Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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“Global Welding Products Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global welding products market report has been segmented on the basis of product, technology, application, and region.
Global Welding Products Market: Overview
Welding is a process of joining similar materials such as metals or thermoplastics by applying heat and pressure to materials which are being joined. Welding products are used across various industrial applications such as automotive, marine, manufacturing, building, and construction.
Global Welding Products Market: Dynamics
Rapidly growing building and construction industry across various countries is a key factor expected to drive growth of the global market over the forecast period.
In addition, rising demand for technologically advanced welding technology from automotive and transportation industry is another factor expected to further fuel growth of the target market over the forecast period.
Moreover, increasing investments in research and development activities by manufacturers in order to develop new welding techniques are expected to boost growth of the target market over the forecast period.
However, lack of skilled employees in manufacturing sector and rising labor costs are some major factors expected to restrain growth of the global market over the forecast period.
Technological advancements in welding technology and development of new techniques are some factors expected to create potential revenue opportunities for players operating in the target market over the forecast period.
Manufacturers operating in the target market are focusing on development of innovative products and technologies in order to improve their business by improving product offerings and services. In addition, development of business strategies such as joint ventures, mergers, acquisitions, etc., are some other factors expected to support growth of the target market.
Global Welding Products Market: Segment Analysis
Among the product segments, the stick electrodes segment is expected to register significant growth owing to their properties such as high tensile strength, corrosion resistance, etc.
Among the technology segments, the arc welding segment is expected to dominate in the global market and is expected to continue its dominance over the forecast period.
Among the application segments, the automobiles and transportation segment is expected to register significant growth in terms of revenue over the forecast period, owing to increasing demand for welding products for manufacturing various automobile and related components.
Global Welding Products Market: Regional Analysis
The market in Asia Pacific is expected dominate in the global market and is expected to continue its dominance over the forecast period. This dominance can be contributed to rapidly growing industrial growth and favorable government regulations across various countries over the forecast period. In addition, huge presence of many manufacturing firms across countries such as China and India is another factor expected to support growth of the target market in Asia Pacific region. The market in North America is expected to register significant growth in terms of revenue over the forecast period, owing to increasing demand for welding products from building and construction industry across various countries in this region.
Global Welding Products Market Segmentation:
Segmentation by product:
- SAW wires & fluxes
- Solid wires
- Flux-cored wires
- Stick electrodes
Segmentation by technology:
- Oxy-fuel welding
- Arc welding
- Resistant welding
- Laser beam welding
- Others (ultrasound welding, etc.)
Segmentation by application:
- Building & Construction
- Automobiles & Transportation
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Colfax Corporation
- HYUNDAI Welding CO., Ltd.
- The Lincoln Electric Company
- Voestalpine AG
- Denyo Co., Ltd.
- Illinois Tool Works, Inc.
- Air Liquide
- Obara Corporation
- Sandvik AB
- DAIHEN Corporation
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