Global Welding Component Market Industry Players Analysis, growth, market share, Emerging Technology and Trends Research Report 2018-2023

The study comprises a mix of data pertaining to the key restraints, drivers, competitive landscape, regulatory forces, key strategies implemented by the key players, and opportunities, expected to have a profound impact on the scope of growth of the market. A detailed analysis of these factors allows the report to present a reliable forecast regarding the future growth dynamics of the Welding Component Market.

Welding components have all-embracing applications in nearly all the chief industries including building, construction, aerospace, oil & gas, automobile, and others. Products in this industry have different features and are technologically developed continuously. Increasing use of the process for commercial purposes will drive the industry in the forecast period. Different components find applications in several end user industries, creating demand on a large scale.

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Welding process leads to considerable environmental and health hazards due to release of toxic gases such as nitric oxide, carbon monoxide, ozone and nitrogen dioxide. These gases when released in the air cause contamination and may also result in pulmonary infection or respiratory illness to workers dealing with such welding activities. Poor working conditions in small and medium enterprises may lead to severe health hazards among workers. These factors might hinder the Global Welding Component Market in coming years. The Global Welding Component Market accounted for US$ 11.93 Bn in 2016 and is expected to reach US$ 18.88 Bn by 2023, growing at a CAGR of 7.8% from 2018 to 2023.

The Global Welding Component Market is enhanced by factors such as:
• Rapid infrastructural development.
• Technological advancements in the automotive industry.
• Increasing need for welding automation technology in fabrication.

Based on component type, the Global Welding Component Market is segmented into stick electrode, solid wires, flux-cored wires and saw wires & fluxes. Out of these segments, the solid wires segment dominated the global market in the preceding years and it is further expected to continue its dominance during the estimated time frame.

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Amid technology segments, the arc welding segment is projected to grow at the fastest CAGR due to the growth in demand from emerging countries such as China and India, which are ranked first and second, respectively, in the Global Welding Component Market. The second fastest growing sector is that of oxy-fuel welding.

Among applications, the automobile and transportation sector is the largest segment of the Global Welding Component Market and is expected to occupy maximum share of the overall market by 2023. The stringent requirements for quality, reliability, and precision has led more applications of robotics and automation technologies in the automotive sectors welding processes. The surging production of light vehicles will create additional demand for different welded automotive components, creating potential demand for welding equipment manufacturers in the coming years.

In terms of regional analysis, the Asia-Pacific region leads the market due to its large population and growing demand from the construction, automobile, steel, and marine (oil and gas) industry. As welding components have a widespread application in all these end-use industries, the Asia-Pacific region, which is witnessing a major growth in these sectors as well, has become a large market for these equipment. This region is followed by North America, which is the second largest region for the Global Welding Component Market.

Some of the significant players functioning in the Global Welding Component Market include The Lincoln Electric Company, ESAB, Illinois Tool Works Inc., Voestalpine AG among others. Few of the other prominent players are Ador Welding Ltd, Arc Machines, Inc., igm Robotic Systems Inc., Milco International, Parweld Ltd., Proserv, and Senor Metals Pvt. Ltd., among others.

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The report also implements primary and secondary research techniques for gathering the most crucial pieces of professional information, and applies a number of industry-best techniques upon the data for projecting the future state of the global Welding Component market. Based on current market development, the report includes an analysis of how activities such as mergers and shapes the market’s future.

To offer a clear understanding of the global Welding Component market, several questions have been addressed in the research study concerning the growth of the global Welding Component market. It is also been discussed with respect to projected growth rate of the global Welding Component market in the near future. Also, depending on the ongoing trend of the market, the region which is anticipated to witness high growth in the next few years is studied in detail.

Various aspects are been elucidated including primary application areas, latest trends, leading players operating in the global Welding Component market, factors which are expected to accelerate the growth, primary challenges faced by the leading players and many more.

This report studies the global Welding Component market, analyses and research the Welding Component development status and forecast in North America, Asia Pacific, Europe, the Middle East & Africa and Latin America.

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