Welding Equipment & Consumables Market Overview with Detailed Analysis, Competitive landscape, Forecast to 2024
Category: #reports  By Partha Ray  Date: 2019-01-12
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Welding Equipment & Consumables Market Overview with Detailed Analysis, Competitive landscape, Forecast to 2024

The welding equipment and consumables market, having established itself as one of the foremost lucrative verticals, is estimated to accumulate substantial returns in the ensuing years attributed to growing urbanization coupled with increasing construction activities worldwide.

Welding process leads to considerable environmental and health hazards due to the release of toxic gases such as nitric oxide, carbon monoxide, ozone and nitrogen dioxide. These gases when released in the air cause contamination and may also result in pulmonary infection or respiratory illness to workers dealing with such welding activities. Poor working conditions in small and medium enterprises may lead to severe health hazards among workers. These factors might hinder the welding equipment & consumables market in coming years.

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Prominent players operating in the entire welding equipment & consumables market are Obara Corporation, Miller Electric, Miyachi America Corporation, Lincoln Electric Company, Fronius International, ESAB Group, Doncasters Group, DAIHEN Corporation, Arcon Welding, Kiswel, Voestalpine AG, Senor Metals, Panasonic Corporation, Sonics & Materials, and ROFIN-SINAR Technologies to name some.

Rising income levels of the middle-class population in the developing countries like India, China, Mexico, Indonesia, and Brazil is fueling the automobile demand. This has also led to improvements in roads and other transit facilities. The total sales of vehicles in India and China accounted for over 30 billion in 2016, whereas that in Japan was recorded close to 5 billion in the same year. Extensive product use in the automotive industry will propel the welding equipment & consumables market demand in the next seven years.

A recent report by ADBI elaborates the relationship between infrastructure and population growth in urban India. It claims that class I cities with a population over 100,000 accounted for more than 70% of the total urban population. It is estimated that India’s urban regions will host nearly 40% of the total population and will contribute about 75% to India’s GDP by the year 2030. The report also claims that to absorb the higher economic potential of the nation, its cities and town require better planning and organization to improve living conditions for the coming generation. Major improvements in terms of institutional, social, physical and economic infrastructure will be needed to attract investments and augment growth. This is testimony enough to validate that the growing urbanization in India as well as other developing nations will fuel the demand for welding equipment and consumables market.

Australia is another nation that anticipates infrastructural development owing to population growth, which will drive the regional welding equipment and consumables market in the years to come. For instance, Melbourne and Sydney are projected to match the current population of New York by the year 2050. Population growth has led to several challenges such as congestion on roads, insufficiency of residential infrastructure, etc. As cities concentrate on building more transit lines and other facilities, welding equipment and consumables market share is expected to soar several notches high.

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The equipment segment finds application in various industrial activities and include arc, resistant, oxy-fuel and laser-beam equipment. Arc welding equipment market will hold around 40% of the entire share by 2024 growing at an exponential rate due to the its rising popularity over its peers. Welding equipment & consumables market is set to witness significant gains in the next seven years.

Considering applications, the welding equipment & consumables market is segmented into marine applications, construction & building, automobile & transportation, metal working, defense & aerospace, and others which consists of overhaul, repair & maintenance works, etc. The automobile and transportation segment will surpass USD 5 billion by the end of the forecast period owing to rising personal car demand in Asia Pacific. The marine applications segment will raise with a healthy CAGR of around 4.5% in the estimated timeframe owing to increasing offshore oil extraction activities and increasing shipbuilding.

Geographically, Asia Pacific accounts for a notable share in the welding equipment & consumables market and will grow at a significant rate to hold over 40% of the entire market by 2024. Asia Pacific will showcase strong growth opportunities owing to the rapidly growing automobile, shipbuilding, construction, and aerospace industries in the region.

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Related Report

Global Welding Equipment & Consumables Market Professional Survey Report 2018

Global Welding Equipment & Consumables Market Size, Status and Forecast 2025 provides Market information about Manufacturers, Countries, Type and Application. This Industry report also states Company Profile, sales, Welding Equipment & Consumables Market revenue and price, market share, market growth and gross margin by regions. 

https://www.marketstudyreport.com/reports/global-welding-equipment-consumables-market-professional-survey-report-2018/?utm_source=RR&utm_medium=DC  

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About Author

Partha Ray

Email: [email protected]   

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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