Global Welding Products Market expected to reach USD 32.63 Billion by 2022: Zion Market Research
Sarasota, FL, Jan. 10, 2017 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Welding Products Market (SAW Wires and Fluxes, Solid Wires, Flux-cored Wires, Stick Electrodes,) Market for Building & Construction, Automobile & Transportation, Marine, Offshore and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022”. According to the report, global welding products market was valued at USD 20.67 billion in 2016 and is expected to reach USD 32.63 billion in 2022, growing at a CAGR of 7.5% between 2017 and 2022.
Welding is used to joining two or more metals or thermoplastics permanently with help of coalescence. Many energy sources are used for weldings such as molten metal baths, electric arcs, gas flames, electric resistance, friction, lasers and ultrasound. There are solid states welding processes like friction welding or shielded active gas welding which is widely applied because in these processes metal does not melt. Welding products are used in various end-user industries like marine, building & contractions, automobile, offshore and others.
Browse through 24 Market Tables and 26 Figures spread over 110 Pages and in-depth TOC on “Global Welding Products Market: By Product, Application, Type, Size, Share, Analysis, Segment and Forecast 2016 – 2022”.
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The global rise in demand from rising end-use industries like infrastructure, automobile & transportation especially in emerging regions of Asia Pacific is likely to remain a key driving factor for welding product market growth. Increasing welding equipment and requirement of consumers due to rise in welded steel demand in building & construction industry may boost up the market in the upcoming period. Also, new transportation development projects in Asia Pacific are estimated to complement market growth. However, skilled labor shortage in manufacturing industries along with high labor cost is expected to hamper the global welding product market. Technological advancements and innovations in welding technology so as to develop techniques for major application area is expected to create better opportunities for the industry over the forecast period.
Welding product market on the basis of the product is segmented into; flux cored wires, SAW wires, and fluxes, stick electrode, solid wires and others. By technology, it is divided into processes like oxyfuel welding, laser beam welding, arc welding, resistance welding and others. In welding technologies, the arc welding technology accounted for over 48%of total share of the market. By application, the market is segmented into marine, building & construction, automobile and transportation and others, amongst which automobile & transportation segment dominating and is likely to expand at a CAGR of 8% in upcoming period while the building & construction segment is expected to record the fastest CAGR of 6.9% in terms of value over the forecast period.
Browse the full “Welding Products Market (SAW Wires & Fluxes, Solid Wires, Flux-cored Wires, Stick Electrodes,) Market for Building & Construction, Automobile & Transportation, Marine, Offshore and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022” report at https://www.zionmarketresearch.com/report/welding-products-market
Asia Pacific dominated the global welding products market in 2016 due to the presence of large end-use industries in the region. Growing oil and gas exploration activities are likely to drive market growth in Asia Pacific. Increase in a number of vehicles due to expanding population is expected to drive welding process demand in the upcoming period.
Europe was the second largest market for welding products in the year 2016. The region is been losing its market share to emerging regions like Asia Pacific, especially to countries like India and China. One of the reasons for the sluggish market of welding products market in Europe is a shortage of skilled labors in the welding industry.
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North America is projected to witness moderate growth owing to high cost of labor. Nevertheless, advancing technologies are likely to decrease the impact of this restraint. Latin America is expected to witness growth for welding products market owing to high demand for building & construction as well as automobile & transportation industry.
Latin America and the Middle East & Africa are likely to experience substantial growth in welding products market over the forecast period. Furthermore, the Middle East & Africa is growing due to rising automotive industry demand which in turn expands the market for welding products. Easy availability of raw material required in transportation industry may serve as a factor which may boost up the automobile & transportation segment. Moreover, it is anticipated that building & construction sector will trigger the welding products market owing to growing urbanization. Thus, it is expected that construction and the automotive industry will experience prominent growth in the forecast period which is likely to boost the growth of the welding products market in the coming years.
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Key vendors in welding product market are Fronius International GmbH, Sonics & Materials Inc., Arcon Welding, ROFIN-SINAR Technologies Inc, DAIHEN Corporation, Basiloid Products Corp., Miyachi America Corporation, Obara Corporation Vinyl Technology, Inc. and Blue Grass Manufacturing Co., Inc. among others.
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This report segments the welding products market as follows:
Welding Products Market: Product Analysis
- SAW wires & fluxes
- Solid wires
- Flux-cored wires
- Stick electrodes
Welding Products Market: Technology Analysis
- Oxy-fuel welding
- Arc welding
- Resistant welding
- Laser beam welding
- Others (ultrasound welding, etc.)
Welding Products Market: Application Analysis
- Building & Construction
- Automobiles & Transportation
- Marine
- Offshore
- Others
Welding Products Market: Region Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East & Africa
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