Sarasota, FL -- (SBWIRE) -- 11/03/2017 -- According to the report, global welding products market was valued at USD 20.67 billion in 2016 and is expected to reach USD 32.63 billion in 2022, growing at a CAGR of 7.5% between 2017 and 2022.
Welding is a sculptural process that joins materials, mainly thermoplastics or metals by resulting into fusion which does not melt the base metal. Welding processes have been applied since the initiation of the industrial revolution. Different energy sources are used for welding process including gas flames, electric arcs, lasers, electric resistance, molten metal baths, friction, electron beams and ultrasound. These welding products are applied in various industries like marine, automobile, construction, manufacturing and offshore. Welding is the only technique used to join materials permanently in space and underwater applications.
Request Free Sample Research Report @ http://atozresearch.com/manufacturing-construction/welding-products-market-saw-wires-fluxes-solid-wires-flux-cored-wires-stick-electrodes-analysis-forecast-2016-2022/
The incredible growth in the construction and automobile industry in emerging economies like India and China is likely to be the driving factor for welding products globally. Rapid urbanization and industrialization in developing countries are the rising factors in the growth of construction and automobile industries which in turn is expected to result in high demand for welding products. However, slow acceptance of new welding technologies in developing countries like India is a restraint for the growth of the welding products. Shortage of skilled labor for the welding process also can hamper the market.A rise in the demand for wind energy systems is likely to create requirements for efficiency in wind tower fabrication resulting into the need for welding products. So, high potential for welding products in wind energy industry can turn as an opportunity to welding products market.
The global market for welding products is segmented on the basis of technology, product, application and region.By technology, the market is divided into resistance welding, arc welding, oxy-fuel welding, beam welding and others.
the technology of arc welding accounted for over 48% share of the overall welding technology segment for the year 2016 followed by resistance welding segment with over 20% share. On the basis of product, the welding product market is segmented into flux cored wires, SAW wires, and fluxes, stick electrode, solid wires, and others. Stick electrodes have exhibited high demand statistics due to the presence of large end-user industries, especially in Asia Pacific. By application, the market is segmented into building & construction, automobile and transportation, marine and others amongst which automobile & transportation is leading the market.
On the basis of region, the market is segmented into Asia-Pacific Region, Western Europe, Eastern Europe, North America, Japan and Middle East Africa. Asia Pacific region is dominating the welding products market due to the presence of large end–user industries in the region. North America and Europe are expected to show moderate growth due to skilled and cheap labor shortage in the region.Middle Eastern Africa is expected to experience growth because of growing automotive industry and raw material availability which is required for the transportation industry.
Key vendors in welding product market are Fronius International GmbH, Sonics & Materials, Inc., Arcon Welding, ROFIN-SINAR Technologies Inc, DAIHEN Corporation, Basiloid Products Corp., Miyachi America Corporation, Obara Corporation Vinyl Technology, Inc. and Blue Grass Manufacturing Co., Inc. among others.
A to Z Research is a single destination for all the industry, company and country reports. We feature large repository of latest industry reports, leading and niche company profiles, and market statistics released by reputed private publishers and public organizations. A to Z Research is the comprehensive collection of market intelligence products and services available on air. We have market research reports from number of leading publishers and update our collection daily to provide our clients with the instant online access to our database. With access to this database, our clients will be able to benefit from expert insights on global industries, products, and market trends.