What's driving the Welding Equipment & Consumables Market Share? Lincoln Electric, ESAB, Fronius International GmbH, Ador Welding Ltd., Voestalpine

Automation and industrialization have led to ascended energy needs in the recent years has been positively influencing the global welding equipment & consumables market. In addition, increasing oil & gas explorations will complement industry growth, as these equipment are used in uphill and downhill welding applications.

Welding Equipment & Consumables Market is projected to exceed USD 25 billion; according to this new research report.

Request for a sample copy of this report @ https://www.decresearch.com/request-sample/detail/2050

Robust outlook for infrastructure sector featured by India, China, Japan and Indonesia will propel welding equipment and consumables market by 2024. Asia Pacific construction industry was more than USD 4 trillion in 2016, contributing to 45% share of construction expenditure worldwide. Rapid urbanization coupled with population rise have fueled the demand for enhanced infrastructure facilities in the region, which will have a positive influence on the welding industry over the forecast timeframe. Rising demand for welding automation technology in fabrication industry will also augment the global welding equipment & consumables market in the near future.

Welding Equipment & Consumables Market Growth Drivers: --
o Growth in the construction industry in emerging economies
o High automotive industry growth in Asia Pacific and the U.S.
o Energy needs have risen significantly

Welding equipment and consumables market was competitive in 2016 due to prevalence of various large and medium companies in the value chain. Key industry participants include: Obara Corporation, Arcon, Miller Electric, Welding, Fronius International, DAIHEN Corporation, Doncasters Group, Panasonic Corporation, Voestalpine AG, etc.

Considering the product segmentation, arc welding equipment led the welding equipment market with revenue of USD 3 billion in 2016. In case of welding consumables, stick welding electrodes are likely to lose some share to fluxes, wires and other consumable electrodes by 2024. The trend will be on account of their features such as: stronger welds, higher deposition rates and better sustainability for outdoor work over stick electrodes.

Make an Inquiry for Purchasing this Report @ https://www.decresearch.com/inquiry-before-buying/2050

Welding Equipment & Consumables Market by Application: -
o Automobile & transportation
o Building & construction
o Marine applications
o Aerospace & defense
o Metal working applications
o Others

Automobile and transportation segment is projected to exceed USD 5 billion over the forecast timeframe. The growth will be attributed to rising passenger car sales particularly in Asia Pacific. Total automotive sales in the region including: China, India, Japan, Australia, Indonesia, Thailand and Malaysia were over 40 million units in 2016. Surge in shipbuilding activities coupled with offshore oil extraction will boost the demand for welding equipment & consumables in marine applications by 2024.

Asia Pacific led the global welding equipment & consumables market and accounted over 40% industry share in 2016. Various thriving industries in the region such as: construction, automobile, shipbuilding, etc. will create growth avenues for the regional industry in the coming years.

Air contamination caused by the emission of hazardous gases including carbon monoxide, nitric oxide, nitrogen dioxide, etc. as well as the particulates such as nickel, iron oxide, fluorides, copper, zinc, cadmium and others from the welding process might pose as an industry restrain in the near future. Another factor affecting the welding equipment and consumables market growth is the average working conditions at small scale and medium scale welding firms.

Browse more info @ https://www.globenewswire.com/news-release/2017/08/29/1101661/0/en/Welding-Equipment-Consumables-Market-to-hit-25bn-by-2024-Global-Market-Insights-Inc.html

About DEC Research:
DecResearch.com, powered by Global Market Insights, is an online aggregator of information on market research reports. The website provides comprehensive information as well as a detailed 'Table of Contents' for reports being regularly published by GMI.

Contact Us:
DEC Research,
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: info@decresearch.com

This release was published on openPR.