Welding Products Industry Overview
The global welding products market size was estimated at USD 13.49 billion in 2021 and is expected to expand at a compounded annual growth rate (CAGR) of 4.4% from 2022 to 2030.
Factors such as design flexibility, reduction in the overall weight of the buildings and structures, and the ease in modification are projected to promote the use of welding products in construction and industrial application segments. The global construction sector is undergoing limited growth as a consequence of the economic recession caused by the Covid-19 crisis, which has resulted in low investor confidence and a decline in construction activities, as a result, the market has also experienced a catastrophic setback.
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The spread of the COVID-19 in China affected the growth of the engineering and construction industries. The increasing costs of construction materials and equipment, along with supply chain disruptions, are the major factors limiting the growth of this industry. However, the use of aerial measurement and 3D modeling technologies increased during the pandemic, which supported the market growth. The construction sector in China is expected to witness high growth over the forecast period, which, in turn, is predicted to drive the market in the economy. With a wide range of welding applications in construction coupled with technological advancements, the development of innovative manufacturing methods is likely to benefit the market growth.
According to the China Association of Automobile Manufacturers (CAAM), in 2020, the automotive sector contributed 9.6% of the total retail sales of consumer goods. The government and several major automobile companies are increasingly investing in the country owing to the growing demand for vehicles.
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Key Companies Profile
Some prominent players in the global welding products market include:
- Colfax Corporation
- Veostalpine AG
- The Lincoln Electric Company
- Illinois Tool Works, Inc.
- Hyundai Welding Co., Ltd.
- Obara Corporation
- Kiswel, Inc.
- Sandvik AB
- Tianjin Bridge Welding Materials Co., Ltd.
- Kemppi Oy
- Mitco Weld Products Pvt. Ltd.
- Senor Metals Pvt. Ltd.
- Metrode Products Ltd.
Order a free sample PDF of Welding Products Market Intelligence Study, published by Grand View Research.
The global Resistance Welding Products Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the resistance welding products market include Spotwelding Products, Inc., Tuffaloy Products, Inc., CenterLine Holdings Inc., T. J.
Snow, Co., Cal Manufacturing Inc., Weld Systems Integrators (WSI), Spotco, Resistance Welding Machine & Accessory, Milco Manufacturing and AMADA WELD TECH.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Resistance Welding Products Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/resistance-welding-products-market/download-sampleMarket DynamicsRising construction activities or growing infrastructural development, especially in the developing regions, is one of the significant factors promoting the demand for welding products worldwide.
Increasing the focus of the manufacturers on product innovations will further bolster the development of the welding products market.
The global welding products market size is expected to reach USD 23.51 billion by 2027, expanding at a revenue-based CAGR of 6.2% during the forecast period, according to a new report by Radiant Insights, Inc.
Welding provides strong joining of heavy products crucial to the structural integrity of buildings in the construction industry.
This is anticipated to propel the market growth over the forecast period.
Several manufacturers have integrated themselves across the value chain on account of increasing opportunities and moderate growth.
Further key findings from the report suggest: • The arc welding technology segment accounted for USD 5.37 billion in 2019 and is projected to witness strong growth over the forecast period, owing to the characteristics of this technology, such as flexibility and the ability to perform under any conditions • The flux-cored wires segment is projected to expand at a CAGR of 7.4% from 2020 to 2027, on account of rising demand from construction and shipbuilding applications • The automotive and transportation application segment is anticipated to reach USD 9.02 billion as the complete manufacturing of automotive components, such as exhaust systems and car bodies requires the use of welding process • Asia Pacific is expected to exhibit the highest growth over the forecast period and is expected to account for USD 10.52 billion by 2027 owing to the robust growth of construction and automotive industries in the region • The China welding products market accounted for USD 2.06 billion and is projected to expand at a CAGR of 7.5% from 2020 to 2027 due to the increasing government support to promote investments in manufacturing sectors Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/welding-products-market Table of Contents Chapter 1.
List Of Data Sources Chapter 2.
