Welding Equipment, Accessories & Consumables Market worth $32.5 billion by 2026 : Leading players are Lincoln Electric Holdings, Inc (US), Colfax Corporation (US), Illinois Tool Works Inc. (US), Kobe Steel Ltd (Japan)
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/welding-equipment-accessories-consumable-market-197066654.html
Innovations and technological advancements in the automotive industry to cater to the growing demand from customers is expected to create higher demand for welding products which is likely to drive the global welding equipment, accessories, and consumables market during the forecast period. APAC is the fastest-growing market for welding equipment, accessories, and consumables due to growing population, favorable investment policies, growing economies, and government initiatives directed at promoting electronics and automobile industries in the region
The Electrodes & Filler Metal Equipment segment is projected to lead the global welding equipment, accessories, and consumables market through 2026
Welding electrodes are used to weld two metals. In arc welding, a current is passed using electrodes to join two metal pieces together. Depending on the process that is adopted, the electrode is either consumable or non-consumable. Electrodes required for gas metal arc welding or shielded metal arc welding are consumable, whereas those for welding metals with gas tungsten arc welding are non-consumable Stick welding is generally used for metals such as mild steel, cast iron, and stainless steel. Stick welding is a manual arc process that needs consumable electrodes coated with flux to place the weld. Electrodes & Filler Metal Equipment widely used to create stronger joints with relative ease
The Gas filters segment is projected to grow at the highest CAGR during the forecast period.
The Gas filters, by accessory, is projected to grow at the highest CAGR during the forecast period. Gas filters are used to filter out dust and debris from the gas and allow the filtered gas to flow through the equipment. This property of gas filters prevents damage to solenoids and guns used for welding metals in welding equipment. The demand for Gas filters is expected to increase, due to the demand from end-use industries.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=197066654
The Asia Pacific is projected to hold the largest share in the welding equipment, accessories, and consumables market during the forecast period
APAC is the largest producer and consumer of welding equipment, accessories, and consumables across the globe, with almost all major manufacturers and end-use companies present in the region. It has witnessed tremendous growth in the last few years, driven by its growing population, favorable investment policies, growing economies, and government initiatives directed at promoting electronics and automobile industries in the region.
Key players operating in the welding equipment, accessories, and consumables market are Lincoln Electric Holdings, Inc (US), Colfax Corporation (US), Illinois Tool Works Inc. (US), Kobe Steel Ltd (Japan), and Air Liquide S.A( France). These players have adopted various growth strategies to expand their global presence and increase their market share.
Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=197066654
COVID-19 impact on global welding equipment, accessories, and consumables market
The welding equipment, accessories, and consumables industry was majorly impacted by COVID-19. In the initial stages of the pandemic, factories in several countries were forced to shut down as the governments implemented strict lockdowns to stop the spread of the virus. After the lockdown was lifted and restrictions were eased, welding equipment, accessories, and consumables manufacturers were allowed to resume factory operations but at a limited capacity and under several rules and regulations.
The welding equipment, accessories, and consumables industry was majorly impacted by COVID-19. In the initial stages of the pandemic, factories in several countries were forced to shut down as governments implemented strict lockdowns to stop the spread of the virus. After the lockdown was lifted and restrictions were eased, welding material manufacturers were allowed to resume factory operations but at a limited capacity and under several rules and regulations.
The demand for welding equipment, accessories, and consumables also reduced as a majority of the demand is linked to the end-use industries, which are also facing difficulties operating during the pandemic. Many construction projects and activities, including government infrastructure projects, which were initially running, came to a complete halt due to the imposition of lockdowns. The construction industry, like many others, is labor-intensive. Mass unemployment in the construction industry led to widespread panic, leading laborers to return to their homelands. Even after the easing of restrictions in several countries, construction companies are working with reduced finances, labor, and working hours, which are further going to delay project deliveries. The impact of the slowdown of the construction industry was felt by the welding equipment, accessories, and consumables industry as well. Apart from the shutdown of production facilities, the cancellation of several projects in the commercial and industrial construction sectors reduced the demand for welding equipment, accessories, and consumables in 2020. The adverse effect of COVID-19 on the automotive industry also had a negative impact on the welding equipment, accessories, and consumables market. Major impacts on the industry were due to a disruption in Chinese parts exports, the closure of assembly plants in the US, and large-scale manufacturing interruptions across Europe. This placed intense pressure on an industry already coping with a downshift in global demand.
Get 10% Customization on this Report @ https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=197066654
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Welding Equipment, Accessories & Consumables Market worth $32.5 billion by 2026 : Leading players are Lincoln Electric Holdings, Inc (US), Colfax Corporation (US), Illinois Tool Works Inc. (US), Kobe Steel Ltd (Japan) here
News-ID: 2406345 • Views: 217
More Releases from MarketsandMarkets.com
Flexible Plastic Pouches Market worth $73.5 billion by 2026 : Major Players are …
The report "Flexible Plastic Pouches Market by Material (PE, PP), Type (Flat Pouches, Stand-up Pouches), Application (Food, Beverage), and Region (APAC, North America, Europe, South America, and Middle East & Africa) - Global Forecasts to 2026" The global flexible plastic pouches market size is estimated at USD 53.7 billion in 2021 and is projected to reach USD 73.5 billion by 2026, at a CAGR of 6.5%. The flexible plastic pouches
Exterior Wall Systems Market worth $199.3 Billion by 2026 : Major Players are Et …
The report "Exterior Wall Systems Market by Material Type (Ventilated, Non-Ventilated and Curtain Wall), Supporting Wall (Concrete, Wood and Masonry) End-use Industry (Commercial, Residential and Industrial), and Region - Global Forecast to 2026" The global exterior wall systems market size is projected to grow from USD 139.6 billion in 2021 to USD 199.3 billion by 2026, at a CAGR of 7.4% from 2021 to 2026. The market is projected to
Nonwoven Fabrics Market worth $53.5 billion by 2025 : Major Players are Ahlstrom …
The report "Nonwoven Fabrics Market by Polymer Type, Layer, Function, Technology (Spunbond, Wetlaid, Drylaid), Application (Hygiene, Building & Construction, Filtration, Medical, Automotive, Consumer Products), and Region - Global Forecast To 2025", The global nonwoven fabrics market size is projected to grow from USD 40.5 billion in 2020 to USD 53.5 billion by 2025, at a CAGR of 5.7% from 2020 to 2025. The market is projected to grow in accordance
Technical Insulation Market worth $9.2 billion by 2024 : Major Players are Zotef …
The report "Technical Insulation Market by Product Type (Flexible, Rigid, MMF), Application (Heating & Plumbing, HVAC, Refrigeration, Industrial Process, Acoustic), End-use (Industrial & OEM, Energy, Transportation, Commercial), and Region - Global Forecast to 2024", The technical insulation market size is projected to grow from USD 7.6 billion in 2019 to USD 9.2 billion by 2024, at a CAGR of 4.0%, during the forecast period Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=80630490 There has been
More Releases for MarketsandMarkets™
IoT Professional Services Market worth $149.9 billion by 2026 | MarketsandMarket …
According to a new market research report "IoT Professional Services Market by Service Type (IoT Consulting, IoT Infrastructure, System Designing and Integration), Organization Size, Deployment Type, Application (Smart Buildings, Smart Transport and Logistics), and Region - Global Forecast to 2026" published by MarketsandMarkets™, the market size projected to grow from USD 98.8 billion in 2020 to USD 149.9 billion in 2026, at a Compound Annual Growth Rate (CAGR) of 7.2%
Electric Powertrain Market Insights by 2027| MarketsandMarkets
The Global Electric Powertrain Market size is projected to reach $191.4 billion by 2027, from an estimated $62.9 billion in 2019, at a CAGR of 14.9 %. The electric powertrain market is expected to witness rapid growth due to stringency in emission norms which is pushing automakers to come up with electrified powertrain technologies. Between 2025 and 2030, emission standards would require automakers to reduce CO2 emissions by 15% and
Automotive Interior Market - Global Forecast to 2025 | MarketsandMarkets
According to the new market research report "Automotive Interior Market by Component (Seat, Interior Lighting), Material (Glass Composite, Carbon Composite, Metal, Vinyl, Fabric), Autonomous Driving (Semi-autonomous, Autonomous), Electric Vehicle, Vehicle Type and Region - Global Forecast to 2025 " Published by MarketsandMarkets™, The global Automotive Interior Market is projected to reach USD 153.8 billion by 2025 from USD 123.2 billion in 2020, at a CAGR of 8.8% during the forecast
Automotive Fuse Market Insights by 2025| MarketsandMarkets
The Automotive Fuse Market is projected to grow at a CAGR of 6.84% during the forecast period, to reach $24.33 Billion by 2025 from $14.33 Billion in 2017. The market is estimated to grow in the near future owing to various factors such as an increase in vehicle production, growing electrification, growing importance of safety & comfort features in mid-segment vehicles which will lead to increase in the number of
Global Connected Car Market by 2025| MarketsandMarkets
According to recent research "Connected Car Market by Service (Connected Services, Safety & Security, and Autonomous Driving), Form (Embedded, Tethered, and Integrated), Network (DSRC, and Cellular), End Market, Transponder, Hardware, and Region - Global Forecast to 2025", The global connected car market is estimated to be USD 72.89 billion in 2017 and is projected to reach USD 219.21 billion by 2025, at a CAGR of 14.8% from 2017 to 2025.
Vehicle Diagnostics Market by Vehicle Type, Application, Connectivity - 2021 | M …
The report "Vehicle Diagnostics Market by Vehicle Type, Application (Automatic Crash Notification, Vehicle Tracking, Vehicle Health Alert & Roadside Assistance), Connectivity (3G, 4G LTE, Wi-Fi, Bluetooth), Region, & Aftermarket (Vehicle Type & Region) - Forecast to 2021", The vehicle diagnostics market is projected to reach a market size of USD 30.22 Billion by 2021, growing at a CAGR of 16.79% from 2016 to 2021. Stringent emission norms, the rising demand