New York City, NY -- (SBWIRE) -- 11/06/2017 -- Global sales of welding equipment is estimated to be valued at US$ 10,456.6 Mn by the end of 2016, witnessing a CAGR of 7.9% from 2016 to 2024. In a new report titled "Welding Equipment Market: Global Industry Analysis and Forecast, 2016 -2024", Persistence Market Research provides a comprehensive analysis of the global welding equipment market and offers insights into the key factors and trends likely to shape the market in the next eight years.

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Among regions, Asia Pacific is the largest market for welding equipment and is expected to remain dominant throughout the forecast period. The welding equipment market in the APAC region is expected to expand 1.9X in terms of value between 2016 and 2024. The APAC welding equipment market is estimated to be valued at US$ 3,441.0 Mn by 2016 end and is expected to represent incremental dollar opportunity of US$ 3,146.5 Mn between 2016 and 2024. The MEA welding equipment market is slated to be valued at US$ 1,640.4 Mn by 2024 end, expanding at a CAGR of 8.6% during the forecast period.

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The report profiles some of the leading companies operating in the global welding equipment market – voestalpine AG, Colfax Corporation, The Lincoln Electric Company, Obara Corporation, Panasonic Corporation, Illinois Tool Works Inc., Fronius International GmbH, Rofin-Sinar Technologies, Sonics and Materials, Inc., Arcon Welding Equipment, DAIHEN Corporation, Amada Miyachi, Inc. and Nelson Stud Welding (Doncasters Group Ltd.) Major market players are consolidating the global market through strategic mergers and acquisitions and are investing in technological innovations to cement their market foothold and expand customer base.

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