Welding Products Market Challenges to Market Growth and Future Scope by 2019-2025

[10 june 2019] The global welding products market size is expected to reach USD 20.48 billion by 2025. It is anticipated to expand at a CAGR of 5.7% during the forecast period. Surge in demand for welding products, particularly from building and construction and automotive industry, is expected to contribute to the overall growth.

The market is majorly driven by growing demand from construction industry. Rapid urbanization and infrastructure development are the key factors propelling the growth of the construction industry, which in turn is projected to boost the demand for welding products. Welding technology is extensively used in the construction of pipelines, bridges, buildings, and other engineering projects for infrastructure development.

Welding products are consumed in various applications such as construction and building, transportation and automotive, marine, oil and gas, and others. Increasing investments in infrastructure development, especially in emerging economies, such as China and India, are fueling the demand for advanced technology, which in turn is leading to the market growth. Asia Pacific is expected to witness a high CAGR owing to the rising demand from the automotive sector in these countries coupled with increased awareness pertaining to high-quality automotive components.

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Asia Pacific led the global welding products market in 2018 and is projected to continue its dominance, progressing at a CAGR of 6.6% over the forecast period. Robust growth in applications in emerging economies such as China and India is a prominent factor driving the demand for welding products. China is the key market for welding products in Asia Pacific, which accounted for a revenue of USD 1.95 billion in 2018. The market growth is highly dependent on the growth of its application areas.

Further key findings from the report suggest:

• Asia Pacific led the market and is projected to expand at the fastest CAGR of 6.6% over the forecast period. Increasing demand from various application segment, particularly from regions such as China and India is likely to drive the growth

• Arc welding was the largest technology segment in the global welding products market in 2018 and is also anticipated to lead the market through the forecast period

• Stick electrode accounted for the largest application segment in 2018 on account of increasing applicability of the stick electrodes in various end-use industries

• Transportation and automotive was estimated as the largest application segment owing to increasing demand for welding products for the manufacturing of automotive components such as exhaust systems and car bodies requires the use of welding process

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Table of Contents:

Chapter 1 Methodology and Scope
1.1 Research methodology
1.2 Research scope & assumptions
1.3 List of data sources

Chapter 2 Executive Summary
2.1 Market snapshot

Chapter 3 Welding Products Market Variables, Trends, and Scope
3.1 Market segmentation and scope
3.2 Penetration and growth prospect mapping
3.3 Welding products - Value chain analysis
3.4 Raw material analysis
3.4.1 Welding electrodes
3.4.2 Welding flux
3.5 Technology overview

Continued...

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