Welding Market to Witness Robust Growth Expansion by 2027
Posted on Sep 28 2022 2:00 PM
"Welding Market Size, Share & COVID-19 Impact Analysis, By Product Type (Welding Equipment and Consumables), By Welding Type (Arc, Resistance, Oxy-Acetylene Gas, Solid State and Others), By Application (Automotive, Building & Construction, Heavy Engineering, Railway & Shipbuilding, Oil & Gas and Others) and Regional Forecast, 2021-2028 "
According to the latest report, titled “Welding Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast’ the India facility management market is expected to exhibit a Huge CAGR during the Forecast Period. The Welding Market is projected to grow from USD 20.99 billion in 2021 to USD 28.66 billion in 2028 at a CAGR of 4.6% in the 2021-2028 period.
This COVID-19 analysis of the report includes COVID-19 IMPACT on the production and, demand, supply chain. This report provides a detailed historical analysis of the global Welding Market by region/country and subsectors. The report covers the revenue, sales volume, price, historical growth, and future perspectives in the Welding Market.
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A few top players in the industry are-
- Lincoln Electric (Ohio, United States)
- KOBE STEEL, LTD (Hyogo, Japan)
- ESAB (Maryland, United States)
- ZULFI (Al Zulfi, Saudi Arabia)
- KISWEL CO., LTD. (Seoul, Korea)
- CS HOLDINGS CO., LTD. ( Gyeongsangbuk-do, Korea)
- RME MIDDLE EAST (Dubai, UAE)
- voestalpine BÖHLER Edelstahl GmbH (Linz, Upperaustria)
- capilla (Leopoldshöhe, Germany)
- Tianjin Golden Bridge Welding Materials Group International Trading Co., Ltd. (Tianjin, P. R. China)
- Miller Electric Mfg. LLC (Wisconsin, United States)
The report gives a precise view of the future perspective and present market demands. The report also includes facts and statistics, tables & figures referred to in this report for strategic planning which leads to the success of the organizations. In this market report, the market share that various manufacturers hold in the global Welding Market and the market concentration is described in the report.
On the basis of Geography, the Global Welding Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to hold a considerable share in the global Welding Market. Due to increasing investment for research and development process and adoption of solutions in the region whereas Asia-Pacific is expected to grow at a faster pace during the forecasted period.
The growing number of Welding Market players across regions is expected to drive market growth further. Moreover, increasing investments by prominent vendors in product capabilities and business expansion is expected to fuel the market during the study period. Many market players are finding lucrative opportunities in emerging economies like China and India, where the large populations are coupled with new innovations in numerous industries.
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Drivers and Restraints
Obtainability of Equipment on Leasing Base to Bolster Market Growth
The highly straight rate has motivated dealers to provide leasing services or rental arrangements through numerous distribution networks. This is a chief aspect fuelling this market. Besides that, as a fragment of the facility agreement, the equipment contractors and sales wholesalers can form supplementary customer importance by presenting training, factories, and other sorts of beneficial do-it-yourself material, which aids an advertising determination and operates to shed light on the augmented value of products to consumers. Implementation of such agreements could produce considerably amplified value for consumers than average product acquisitions. This is expected to spur the welding market growth during the forecast period.
An overview of the Welding Market’s regional outlook:
The market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). North America is further subdivided into countries such as the United States and Canada. The Europe region is further divided into the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe. China, Japan, South Korea, India, Australia, South East Asia, and the rest of Asia Pacific are subdivided into Asia Pacific. The Latin America region is separated into Brazil, Mexico, and the rest of Latin America, whereas the MEA region is divided into GCC, Turkey, South Africa, and the rest of MEA.
Increasing Number of Manufacturers to Help Asia Pacific Dominate
Asia Pacific holds the maximum welding market share and is projected to grow during the mentioned time period owing to the existence of regional listed as well as unregistered manufacturers, growing construction and heavy engineering industries mainly in nations such as China, Japan, and India. The region procured USD 7.27 billion in 2020 in terms of revenue.
North America and Europe are estimated to grow at a stable rate in the forthcoming years owing to the attendance of foremost manufacturers functioning in this region.
The Middle East & Africa (MEA) and Latin America are anticipated to grow at a reasonable rate owing to surging construction spending in these regions. For example, as per the International Trade Administration (ITA), the Brazilian Ministry of Infrastructure scheduled 59 fresh construction schemes with aggregate financing of about USD 10 billion in the year 2019.
Vital Players Focus on Cost Leadership Tactic to Sustain their Positions in This Market
Main welding companies are concentrating on implementing several valuing tactics to counter shifting raw material costs. For example, Lincoln Electric implemented a product mix and operative valuing administration method to gain lucrativeness in spite of determined raw material price rises. Likewise, dealers are proactively inventing its prevailing product series in terms of prices, quality, and procedures to fulfill the fluctuating requirements of the consumers and make the most of the viability. For example, DENYO CO., LTD. is concentrating on machines by revising the sales plan and emerging novel products to upsurge competition in this industry.
- What is the driving factor for the growth of the Welding Market?
- How will the COVID-19 pandemic impact the demand and consumption of the Welding Market?
- What is the major application area of the Welding Market?
- Who are the Welding Market manufacturers across the globe?
- Which geographical location is dominant in the Welding Market?
- Which are the top industry players in the Welding Market?
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