Welding Equipment Market to Grow at 7.21% CAGR by 2021: Laser Beam Welding Drives Max Growth
The new analysis on global welding equipment market 2016 – 2021 says rising construction and manufacturing activity worldwide, growth in automobile and construction industry, increasing demand for energy and the emergence of friction stir welding technology are the key factors fueling the growth of Welding Equipment Market.
The Asia-Pacific region
leads the market due to its large population and its growing demand by the construction, automobile, steel, and marine (oil and gas) industries. China and India are the key countries in welding and cutting equipment market due to high industrial growth rate, rising in the construction sector and high growth rate of automotive industry in these regions. China, Japan, South Korea, and Malaysia have accelerated the growth of the market. North America is the second largest market for welding equipment.
The automobile segment in the North America
has been growing each year and this has boosted the North American welding equipment market due to rise in construction and manufacturing industry. Europe is likely to witness a low growth on account of steep fall in the crude oil prices and the on-going euro zone crises. Thus, North America and Europe are matured markets. The Middle East, Latin America and Africa will see a substantial rise in demand for welding equipment in the predicted future wherein Africa and Middle East are expected to be the key growth regions. Laser Beam welding is expected to grow at the fastest rate followed by Resistant welding in Welding Equipment Market, by Technology while high significance of Automotive & Construction industry was noticed for the End user Welding Equipment Market.
But shortage of skilled labour, slow adoption of advanced welding technologies and slow growth in marine and defence industry is one of the biggest restraints faced by this industry. Growing construction and manufacturing activity, changing dynamics of the manufacturer, growth in automobile and construction industry, increasing demand for energy and the emergence of friction stir welding technology has surged the need for more manufacturing activities that is further driving the market for Welding Equipment. With the high demand for energy in the nations across the globe, there has been an increase in exploration activities leading to growth in the market for Welding Equipment Market.
According to recently published report “Global Welding Equipment Market: Opportunities and Forecasts (2016-2021)”, Welding Equipment Market is forecasted to grow at a CAGR of 7.21% during 2016 – 2021F, on account of increasing attention towards automotive and construction industry along with growing demand for energy driving the growth of the Welding Equipment market. On the basis of market segment, the market has been segmented into three categories namely – By Technology, By End User, and By Regions. Few of the leading companies operating in Welding Equipment Market are Illinois Tool Works Inc., Sonics and Materials, Inc., Fronius International GmbH, voestalpine AG, Obara Corporation, Daihen Corporation, ROFIN-SINAR Technologies Inc., Panasonic Corp., Lincoln Electric Holdings Inc., ESAB.
Another related report is Welding Machines World Report.
The Welding Machines World Report Gives Market Consumption / Products / Services For Over 200 Countries By 6 To 10-Digit Naics Product Codes By 3 Time Series: From 1997- 2015 And Forecasts 2016- 2023 & 2023-2028.
59 Market Research Chapters.
Spreadsheet Chapters: Market Consumption – In US$ By Country By Product/Service By Year. Market, Financial, Competitive, Market Segmentation, Industry, Critical Parameters, Marketing Costs, Markets, Decision Makers, Performance, Product Launch.
World & National Report Market Database & Spreadsheets. Financial Spreadsheets & Databases. Industry Spreadsheets & Databases.
Data Includes Market Consumption By Individual Product / Service, Per-Capita Consumption, Marketing Costs & Margins, Product Launch Data, Buyers, End Users & Customer Profile, Consumer Demographics. Historic Balance Sheets, Forecast Financial Data, Industry Profile, National Data.