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Welding Gas/Shielding Gas Market Size, Latest Trends, Growth Rate, Key Drivers And Forecast To 2033
Welding Gas/Shielding Gas Market
Welding Gas/Shielding Gas Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $4.4 billion In 2028 At A CAGR Of 8.4% :
The welding gas/shielding gas market size has grown strongly in recent years. It will grow from $2.94 billion in 2023 to $3.19 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to industrial growth, infrastructure development, globalization of manufacturing, automotive industry.
The welding gas/shielding gas market size is expected to see strong growth in the next few years. It will grow to $4.4 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to increased construction activities, economic expansion in emerging markets, stringent regulatory standards, rise in renewable energy projects. Major trends in the forecast period include technological advancements in welding processes, transition to specialty gases, adoption of automation, growing demand for laser welding gases, digitalization in welding, strategic partnerships and mergers, customized gas mixtures.
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Welding Gas/Shielding Gas Market Major Segments
The welding gas/shielding gas market covered in this report is segmented -
1) By Type: Argon, Carbon Dioxide, Oxygen, Hydrogen, Other Types
2) By Storage, Transportation and Distribution Mode: Cylinder and Packaged Gas Distribution, Merchant Liquid and Bulk Distribution
3) By Application: Gas Metal Arc Welding, Gas Tungsten Arc Welding, Other Application
4) By End User Industry: Metal Manufacturing and Fabrication, Construction, Energy, Aerospace, Other End-User Industry
Key Driver - Booming Metal Manufacturing And Fabrication Industries Fueling Growth In The Welding And Shielding Gas Market
Growth in metal manufacturing and metal fabrication industries is expected to propel the growth of the welding gas or shielding gas market forward. Metal manufacturing and metal fabrication refer to the process of manufacturing metal sheets and castings by smelting, casting, and mining metal. Welding and shielding gases are used in the fabrication and manufacturing of metal products to join two parts of metal sheets due to their properties such as strength, durability, and resistance to corrosion. For instance, in 2022, according to World Population Review, a US-based global independent organization that provides demographic information about the population, total global steel production in 2021 was 1950.5 million tonnes and 4 million tonnes in 2020, representing a 3.7% increase in total global production. Further, according to Canadian Industry Statistics, a Canada-based government agency that provides industrial data, the total manufacturing value of metal fabricated products was $42.4 billion in 2019 and increased by up to 8.2% every year in Canada. Therefore, the growing metal manufacturing and metal fabrication industries are driving the welding gas or shielding gas market.
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Prominent Trend - Innovations Transforming The Welding And Shielding Gas Market
Technological advancements are a key trend gaining popularity in the welding gas and shielding gas market. Major companies operating in the welding gas and shielding gas markets are concentrating their efforts on creating innovative technologies to make welding operations faster and safer. For instance, Air Liquide S.A., a France-based technology company that provides industrial gases and services to different industrial sectors, launched Qlixbi. This innovative packaged gas, equipped with digital technology, offers unique features including continuous supply and faster application of gas in welding operations with a suite of innovative cylinders and digital solutions. The digital applications of Qlixbi offer insights that help to improve welding operational productivity and improve efficiency.
Welding Gas/Shielding Gas Market Players
Major companies operating in the welding gas/shielding gas market report are Air Products and Chemicals Inc., Gulf Cryo, Linde PLC, Iwatani Corporation, Praxair Inc., Nippon Sanso Holdings Corporation, Southern Industrial Gas Sdn Bhd, The Messer Group GmbH, American Welding Gas Inc., Ellenbarrie Industrial Gases Ltd., Lincoln Electric Holdings Inc., Elektriska Svetsnings-Aktiebolaget, Fronius International GmbH, Gas Innovations, Sterling Gases Limited, SIG Gases Berhad, Iceblick Ltd., Messer Canada Inc., WestAir Gases & Equipment, Norco Inc., Weldstar Company, Arc3 Gases, Holston Gases Inc., Roberts Oxygen Inc., NexAir LLC, Indiana Oxygen Company Inc., Haun Welding Supply Inc., Welders Supply Company, Welding Industrial Supply Company, Sidney Lee Welding Supply Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the welding gas/shielding gas market in 2023. The regions covered in the welding gas/shielding gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Welding Gas/Shielding Gas Market Report Structure
3. Welding Gas/Shielding Gas Market Trends And Strategies
4. Welding Gas/Shielding Gas Market - Macro Economic Scenario
5. Welding Gas/Shielding Gas Market Size And Growth
…..
27. Welding Gas/Shielding Gas Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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