Global Welding Equipment market to grow at a CAGR of 5.34% over the period 2014-2019
Deerfield Beach, FL -- (SBWIRE) -- 08/24/2015 -- Global Welding Equipment market to grow at a CAGR of 5.34% over the period 2014-2019. Welding is a type of fabrication process that is used to repair metallic and non-metallic components and products in manufacturing industries. Many industries need welding technology because it provides an efficient and easy method of fusing materials. The welding process is used in various industries such as Automotive, Shipbuilding, Aerospace, Energy, Oil and Gas, Offshore Exploration, and Construction. End-users use metals, gases, and other consumables in the welding process.
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Incessant energy requirements, defense modernization, rise in middle class income resulting in increased demand for automobiles are some of the main reasons in the developing countries that would increase the need for welding equipment. Increase in manufacturing activities along with infrastructure development is also expected to help in the growth of the market for welding equipment.
"Manufacturing companies in developed countries have adopted welding robots for their manufacturing process to reduce their dependency on manual labor,".
"The need for automating manufacturing processes has been one of the major requirements in the market in recent years. Some developing countries have also started to adopt robotics because of the increase in labor costs."
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Covered in this Report
The Global Welding Equipment market considers revenue generated only from the sale of welding equipment.
Global Welding Equipment Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers Americas, EMEA, and APAC regions; it also covers the Global Welding Equipment market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Key Market Drivers:
Increased Demand from Emerging Countries
Increased Demand from Fabrication Industries
Low Costs of Welding
Development of Information Technology
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Key Market Trends:
Automation of Welding Equipment
Increased Awareness about Welding
Key Market Vendors:
Illinois Tool Works Inc.
Lincoln Electric Company Inc.
To define the market circumstances in the next 3-4 years, Our analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.