The Welding Products by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Welding Products, The welding products market size has grown strongly in recent years. It will grow from $15.76 billion in 2023 to $16.78 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to rise in industrialization, growth of manufacturing sector, expansion of infrastructure projects, adoption of welding technology in the automotive industry, increasing construction activities.
The welding products market size is expected to see strong growth in the next few years. It will grow to $21.71 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to rise in demand for welding products in the renewable energy sector, growing demand for lightweight materials in various industries, expansion of the oil and gas industry, increasing focus on repair and maintenance activities in aging infrastructure, increasing demand for welding products in the defense industry . Major trends in the forecast period include adoption of automation and artificial intelligence, eco-friendly welding technologies and materials, customization of welding products for specific industrial applications, integration of data analytics for quality control, shift towards more portable and compact welding equipment for flexibility.
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.
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The welding products market covered in this report is segmented –
1) Welding Products Market By Product: Stick Electrodes, Solid Wires, Flux Cored Wires, Saw Wires and fluxes, Other Products
2) Welding Products Market By Technology: Arc Welding, Resistance Welding, Oxy Fuel Welding, Laser Beam Welding, Other Technologies
3) Welding Products Market By Application: Automotive And Transportation, Building And Construction, Marine, Other Applications
Technological advancement in welding products is a key trend gaining popularity in the welding products market. The key players in the welding products market are developing technologically advanced products with improved impact wear resistance and combined abrasion to meet industrial requirements. For instance, in July 2022, Vitesco Technologies, a Germany-based automotive supplier for drivetrain and powertrain technologies, launched new green laser equipment, a new laser welding technology for sustainable manufacturing. Depending on the application, the use of green lasers can cut energy consumption by up to 20% and the CO2 footprint per laser-welded joint when compared to infrared laser systems, which have been the industry standard in copper welding up until now.
The welding products market report table of contents includes:
1. Executive Summary
2. Welding Products Market Characteristics
3. Welding Products Market Trends And Strategies
4. Welding Products Market - Macro Economic Scenario
5. Global Welding Products Market Size and Growth
.....
31. Global Welding Products Market Competitive Benchmarking
32. Global Welding Products Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Welding Products Market
34. Welding Products Market Future Outlook and Potential Analysis
35. Appendix
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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.
