Worldwide Welding Consumables Market | Industry Challenges Business Overview And Forecast Research Study 2023

Based on region, Asia-Pacific, followed by Europe, contributed to the highest market share in 2016 and will maintain its dominance throughout the forecast period.

A complete and wide-ranging evaluation of the aspects that drive and restrain the market growth is also provided throughout the study. This detailed exploration of the market size and its proper segmentation help the market players define the prevalent opportunities that are looming large.

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The global welding consumables market generated $12.40 billion in 2016, and is estimated to reach $18.28 billion by 2023, registering a CAGR of 5.7% from 2017 to 2023.

The report helps clients in comprehending the first-hand knowledge of the global market while providing a full-fledged understanding of the regional-level analysis of each segment. At the same time, the study contain in-depth information of the frontrunners that are active in the industry along with their financial agenda, segmental profits, company trends, services/products offerings, and major adopted stratagems.

Rise in the automotive and construction sector and surge in global energy infrastructure development drive the growth of the global welding consumables market. However, negative impacts of welding consumables on environment and workers hinder the market growth. On the other hand, increase in requirement for welding automation technology in developed economies creates new opportunities in the coming years.

The Welding consumables market report keeps a perfect tab on the market share of several companies, recent market trends, revenue forecast, and new product launches across the market. The report includes company profiles that delineate the revenue share of the top competitors in the market. Simultaneously, the report provides revenue forecasts for four regions and more than twenty major countries across Asia-Pacific, LAMEA. North America and Europe.

The solid wires segment contributed to the largest share in 2016, accounting for more than one-third of the total share, and is estimated to maintain its dominant position during the forecast period.

Welding Consumables Covered Market:- Illinois Tool Works Inc., Colfax Corporation, Hyundai Welding Co., Ltd., Voestalpine Böhler Welding GmbH, The Lincoln Electric Company, Fronius International GmbH, Kemppi Oy., Panasonic Corporation and Other.

Analysis of COVID-19 impact:

The outbreak of the pandemic has had a massive impact on the majority of industries and the Welding consumables market was also not an exception in this regard. The report provides a detailed study on the micro- and macro-economic impact during the pandemic. Additionally, it emphasizes the direct impact of the COVID-19 pandemic on the Welding consumables market in the form of qualitative study. The report offers explicit details regarding the market extent and shares during this unprecedented time. At the same time, the major strategies adopted by the market players to combat the global crisis is also covered under the report. Last but not the least, the report highlights how the pandemic has distorted the supply chain of the market and takes in a post-COVID-19 analysis too.

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