Welding Consumables Market to Register 5.7% CAGR to 2023, States Allied Market Research in Its Research Report Available at MarketPublishers.com
10 Oct 2017 • by Natalie Aster
LONDON – Worldwide, the value of the welding consumables market is set to increase from USD 12,405 million in 2016 to amount to USD 18,286 million by 2023, posting a 5.7% CAGR over the forecast period.
The market is expected to be driven by the surging number of applications across manifold end-use sectors, rise of the automotive & construction industry, and a hike in the global investments into the energy infrastructure sector. Additionally, a hike in the usage of welding consumables for maintenance and repair of current products also contributes to the growth of the market.
The APAC region is likely to see the highest CAGR in the offing due to an upsurge in construction activities, particularly in developing India and China. Additionally, FDIs in wind and thermal sectors play an enormous part in the growth and expansion of the region’s welding consumables market. Meanwhile, the market is being restrained by factors like the slow rates of uptake of brand-new, innovative welding technologies in the developing economies, consumers’ price sensitivity, and sluggishness of the growth of shipbuilding and aerospace & defense industries. Nevertheless, increasing demand for welding automation technology, particularly in the developed world, is projected to open up lucrative opportunities for the market to grow and expand moving on.
Ador Welding, Yenitek Corporate Group, EWAC Alloys, Ketan Corporation, Precision Weldarc Limited, Denyo, GEE Limited, Praxair Incorporated, AV Weldtech Pvt, among others, are the leading players in the market space.
Topical research report “Welding Consumables Market - Global Opportunity Analysis and Industry Forecast, 2017-2023” elaborated by Allied Market Research presents a profound, unprejudiced analysis of the market on a global level.
The study offers a quantitative analysis of the existing trends and provides granular estimates for 2017-2023 of the world welding consumables market to detect the key market opportunities. The report offers comprehensive market segmentation by type, end-user sector, welding technique, and geography-wise. It also maps the leading countries in each region according to individual market revenues. The research limelights the major forces restricting and driving the growth of the marketplace; delves deep into an analysis of current research and clinical developments in the sector alongside major dynamic factors. Porter’s Five Forces analysis is available, too. Furthermore, the report describes the competitive scenario and gives a discussion of the top 10 players alongside their key recent developments.
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