Global Welding Products Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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Global Welding Products Market: Overview
"The Welding Products Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
Welding is a process of joining similar materials such as metals or thermoplastics by applying heat and pressure to the materials being joined. Welding products are used across various industrial applications such as automotive, marine, manufacturing, building, and construction.
Global Welding Products Market: Dynamics
The rapidly growing building and construction industry across various countries is a key factor expected to drive the growth of the global market over the forecast period.
In addition, rising demand for technologically advanced welding technology from the automotive and transportation industry is another factor expected to further fuel the growth of the target market over the forecast period.
Moreover, increasing investments in research and development activities by manufacturers to develop new welding techniques are expected to boost the growth of the target market over the forecast period.
However, the lack of skilled employees in the manufacturing sector and rising labor costs are some major factors expected to restrain the growth of the global market over the forecast period.
Technological advancements in welding technology and the 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 developing innovative products and technologies to improve their business by improving product offerings and services. In addition, the development of business strategies such as joint ventures, mergers, acquisitions, etc., are other factors expected to support the 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 high tensile strength, corrosion resistance, etc.
Among the technology segments, the arc welding segment is expected to dominate the global market and 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 automobiles and related components.
Global Welding Products Market: Regional Analysis
The market in the Asia Pacific is expected to dominate the global market and will continue its dominance over the forecast period. This dominance can be attributed to rapidly growing industrial growth and favorable government regulations across various countries over the forecast period. In addition, the huge presence of many manufacturing firms across countries such as China and India is another factor expected to support the growth of the target market in the 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 the 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
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- 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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