Welding Products Global Market To Reach Value Of $18 Billion In 2025
1 Sep, 2021
The welding products market consists of sales of welding products by entities (organizations, sole traders, and partnerships) that manufacture welding products that use a filler material in the welding process for joining metals such as stainless steel, aluminum, nickel, and copper alloys, cobalt, and titanium. Welding products are the materials or consumables that are used to carry out the welding process to create parts and finished products for a wide range of industries.
Global Welding Products Market Size And Drivers:
The global welding products market is expected to grow from $12.10 billion in 2020 to $13.31 billion in 2021 at a compound annual growth rate (CAGR) of 10%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The welding products market is expected to reach $18.08 billion in 2025 at a CAGR of 8%. The rapid expansion of the construction sector is expected to propel the growth of the welding products market in the forecast period.
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Trends In The Global Welding Products Market
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.
Global Welding Products Market Segments:
The global welding products market is further segmented based on product, technology, application and geography.
By Product: Stick Electrodes, Solid Wires, Flux Cored Wires, Saw Wires And Fluxes, Others
By Technology: Arc Welding, Resistance Welding, Oxy Fuel Welding, Laser Beam Welding, Others
By Application: Automotive And Transportation, Building And Construction, Marine, Others
By Geography: The global welding products market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the welding products market in 2020.
Read More On The Report For The Global Welding Products Market At:https://www.thebusinessresearchcompany.com/report/welding-products-global-market-report
Welding Products Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides welding products market overviews, analyzes and forecasts market size and growth for the global welding products market, welding products market share, welding products market players, welding products market segments and geographies, welding products market’s leading competitors’ revenues, profiles and market shares. The welding products market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.