Welding Consumables & Equipment Market to achieve 4% growth over 2018-2024 says new report
SELBYVILLE, Del., July 31, 2018 /PRNewswire-iReach/ -- North America welding consumables & equipment market will grow with over 4% CAGR in the forecast timespan. Due to new and developed technology, arc equipment find maximum usage in metal joining activities. Global Welding Consumables & Equipment Market size will surpass USD 25 billion by 2024. Rising income levels of the middle-class population in the developing countries like India, China, Mexico, Indonesia, and Brazil is fueling the automobile demand. This has also led to improvements in roads and other transit facilities. The total sales of vehicles in India and China accounted for over 30 billion in 2016, whereas that in Japan was recorded close to 5 billion in the same year. Extensive product use in the automotive industry will propel the Welding Consumables & Equipment Market demand in the next seven years.
Growing construction industry in the Asia Pacific region due to rapid growth in the fast-developing economies of China, India, and Japan will further enhance the Welding Consumables & Equipment Market. Asia Pacific contributed around 45% of the global construction spending in 2016 and accounted for over USD 4 trillion. Moreover, infrastructural and transportation development shall further fuel the Welding Consumables & Equipment Market demand in the forecast span.
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Considering type, the Welding Consumables & Equipment Market is bifurcated into two broad categories, mainly, consumables and equipment. The consumables segment includes stick electrodes, solid wires, flux cord wires, SAW (submerged arc wires) & fluxes, and other segments such as rods, etc. Stick electrodes are rods used for sustaining the arc and providing filler metals for the welded joints.
The equipment segment finds application in various industrial activities and include arc, resistant, oxy-fuel and laser-beam equipment. Arc welding equipment market will hold around 40% of the entire share by 2024 growing at an exponential rate due to the its rising popularity over its peers. Welding Consumables & Equipment Market is set to witness significant gains in the next seven years.
Buy this industry insights spread across 115 pages with 156 market data tables & 11 figures & charts from the report, "Welding Equipment & Consumables Market Size By Product (Welding Equipment [Arc Welding, Resistant Welding, Oxy-Fuel Welding, Laser-Beam Welding], Welding Consumables [Stick Electrodes, Solid Wires, Flux Cored Wires, SAW & Fluxes]), By Application (Automobile & Transportation, Building & Construction, Marine, Aerospace & Defense, Oil & Gas, Metal Working), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:
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Considering applications, the Welding Consumables & Equipment Market is segmented into marine applications, construction & building, automobile & transportation, metal working, defense & aerospace, and others which consists of overhaul, repair & maintenance works, etc. The automobile and transportation segment will surpass USD 5 billion by the end of the forecast period owing to rising personal car demand in Asia Pacific. The marine applications segment will raise with a healthy CAGR of around 4.5% in the estimated timeframe owing to increasing offshore oil extraction activities and increasing shipbuilding.
Prominent players operating in the entire Welding Consumables & Equipment Market are Obara Corporation, Miller Electric, Miyachi America Corporation, Lincoln Electric Company, Fronius International, ESAB Group, Doncasters Group, DAIHEN Corporation, Arcon Welding, Kiswel, Voestalpine AG, Senor Metals, Panasonic Corporation, Sonics & Materials, and ROFIN-SINAR Technologies to name some.
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Partial Chapters of the Table of Contents:
Chapter 2. Executive Summary
2.1. Welding Consumables & Equipment Market 360° synopsis, 2013 – 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Application trends
2.1.4. Regional trends
Chapter 3. Welding Equipment & Consumables Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Distribution channel analysis
3.3.2. Vendor matrix
3.4. Raw material analysis
3.5. Regulatory landscape
3.5.1. U.S.
3.5.2. Europe
3.5.3. China
3.6. Pricing analysis
3.6.1. Regional pricing
3.7. Industry impact forces
3.7.1. Growth drivers
3.7.2. Industry pitfalls & challenges
3.8. Growth potential analysis
3.9. Porter's analysis
3.10. Competitive landscape, 2016
3.10.1. Strategic dashboard
3.11. PESTEL analysis
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