The Business Research Company’s Welding Products Global Market Report 2021 – COVID-19 Growth And Change
LONDON, GREATER LONDON , UK, September 2, 2021 /EINPresswire.com/ — The rapid expansion of the construction sector is expected to propel the growth of the welding products market in the forecast period. The construction sector is a very diverse industry that includes various activities such as infrastructure, buildings, and maintenance. Welding is mostly used in the production of structural frameworks from metal components. Welding is used for joining trusses, footers, steel I-beams and columns that maintain a building’s walls, roof, and floors. For instance, according to the Intercontinental Exchange (ICE), a US-based technology company the global construction sector is expected to grow to $8 trillion by 2030. Therefore, the rapid expansion in the construction sector drives the growth of the welding products market.
The global welding products market is expected to grow from $12.10 billion in 2020 to $13.31 billion in 2021 at a compound annual growth rate (CAGR) of 10%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The welding consumables market size is expected to reach $18.08 billion in 2025 at a CAGR of 8%.
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The major players covered in the welding equipment and supplies market are The Lincoln Electric Company, Colfax Corporation, Illinois Tool Works Inc, Kemppi Oy, Kiswel Inc., Obara Corporation, Senor Metals Pvt. Ltd., Tianjin Bridge Welding Materials Co. Ltd., ESAB, and Ador Welding Ltd.
Asia Pacific was the largest region in the welding products market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The global welding products market is segmented by product into stick electrodes, solid wires, flux cored wires, saw wires and fluxes, others, by technology into arc welding, resistance welding, oxy fuel welding, laser beam welding, others, and by application into automotive and transportation, building and construction, marine, others
Welding Products Global Market Report 2021 – By Product (Stick Electrodes, Solid Wires, Flux Cored Wires, Saw Wires And fluxes), By Technology (Arc Welding, Resistance Welding, Oxy Fuel Welding, Laser Beam Welding), By Application (Automotive And Transportation, Building And Construction, Marine), COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides welding products market overview, forecast welding products market size and growth for the whole market, welding products market segments, and geographies, welding products market trends, welding products market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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