Welding Products Market Increasing at A Phenomenal Pace to Reach USD 19.21 Billion by 2028

07-May-2021 | Zion Market Research

Major companies in Welding Products Market are Voestalpine AG, Colfax Corporation, Air Liquide, Illinois Tool Works Inc., The Lincoln Electric Company, HYUNDAI WELDING CO., LTD., Sandvik, OBARA CORP, Kiswel Incorporated, Mitco Weld Products Pvt. Ltd., Kemppi Oy., Senor Metals Pvt. Ltd., Rofin-Sinar, Arcon Welding Equipment, DAIHEN Corporation., Amada Miyachi, Inc., Basiloid Products Corporation, among others. These players are set to bolster the development of global Welding Products Market.

According to analysts at Zion Market Research, the global Welding Products Market accounted for USD 12.18 Billion in 2020 and is expected to reach USD 19.21 Billion by 2028, growing at a CAGR of more than 5.9% from 2021 to 2028.

This review is based on a report by Zion Market Research, titled “Welding Products Market by Technology (Arc Welding, Resistance Welding, Oxy-Fuel Welding, Laser Beam Welding, and Others), Product (Stick Electrodes, Solid Wires, Flux-Cored Wires, Saw Wires and Fluxes, and Others), Application (Transportation & Automobiles, Building & Construction, Marine, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”

Massive Product Application In Automotive & Construction To Impel Growth

“Burgeoning product demand in automotive, transport, infrastructure, and construction sectors is anticipated to boost the growth of welding products industry in the years ahead,” says the author of this study. Apart from this, the launching of new transportation projects in Asia Pacific region will further accelerate the welding products market revenue within the next few years.

Lack of availability of skilled workforce in manufacturing sector along with rising labor costs, however, is predicted to inhibit the welding products market growth over the forthcoming years. Nevertheless, technological innovations in welding technology along with growing demand for welding equipment is predicted enlarge the scope of the business in the ensuing years, thereby normalizing the impact of hindrances on the welding products market, reports the study.

Swift Infrastructural Development to Assist Europe Maintain Dominance

Regionally, Europe has been leading the worldwide welding products market and is anticipated to continue on the dominant position in the years to come, states the welding products market study. Rapid infrastructural growth and favourable government legislations is the main factor behind the dominance of the Europe welding products market. Asia Pacific is expected to grow over the forecast period, owing to the rapid expansion of automotive industry on account of the highest automobile production in growing economies such as China, India, and Indonesia.

Browse the full Welding Products Market by Technology (Arc Welding, Resistance Welding, Oxy-Fuel Welding, Laser Beam Welding, and Others), Product (Stick Electrodes, Solid Wires, Flux-Cored Wires, Saw Wires and Fluxes, and Others), Application (Transportation & Automobiles, Building & Construction, Marine, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/welding-products-market

The global Welding Products Market is segmented as follows:

By Technology

  • Arc Welding
  • Resistance Welding
  • Oxy-Fuel Welding
  • Laser Beam Welding
  • Others

By Product

  • Stick Electrodes
  • Solid Wires
  • Flux-Cored Wires
  • Saw Wires and Fluxes
  • Others

By Application

  • Transportation & Automobiles
  • Building & Construction
  • Marine
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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