Albany, NY -- (SBWIRE) -- 12/31/2015 -- The global welding products market is progressing at a CAGR of 4.50% between 2014 and 2020. The market was valued at US$17.4 bn in 2013 and is expected to reach US$23.8 bn by the end of 2020, according to a research report released by Transparency Market Research, titled "Welding Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020". The research reference is available on the company website, along with the report for sale.

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According to the report, the global welding products market is primarily driven by the booming construction industry. Another end-use industry that has ramped up its demand for welding products is the growing automotive industry. Both construction and automotive industries are rapidly expanding in developing economies, giving rise to a bumper growth rate for the global welding products market in the coming years. Both industries make extensive use of welding products. The global welding products market is also expected to witness growth in demand from the energy sector, specifically from wind energy companies. Wind energy devices require a medium-to-large amount of welding activity.

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The report also explains the various restraining factors acting on the global welding products market, including the lack of skilled labor that will be incurred in a rapidly expanding industry. This, according to the report, will hold true especially for developed nations, consequently hampering the global welding products market's overall growth rate. The global welding products market is also hindered by high labor costs, which have reduced the profit margins in developed nations.

On the basis of welding techniques, the global welding products market was dominated by arc welding, which held a share of almost 40.0% in 2013. This segment was followed by resistance welding and laser beam welding. The largest end user in the global welding products market for 2013 was the building and constructions industry, with a market share of 17.0%.

Asia Pacific is the leading regional segment of the global welding products market. It held 40% of the global welding products market in 2013 and is expected to continue to dominate the market. North America and Rest of the World collectively held 32.0% of the market in 2013. Europe, on the other hand, showed signs of a declining welding products market, owing to instability in the supply-demand chain and a recovering economy.

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The most prominent players in the global welding products market are Illinois Tool Works, ESAB, and Lincoln Electric. The three companies dominate the global welding products market in terms of range and sales figures of welding products. All three companies possess widespread global distribution channels. Other key players are Doncasters Group Ltd., ROFIN-SINAR Technologies Inc., Sonics & Materials, Inc., Fronius International GmbH, Miyachi America Corporation, Obara Corporation, Arcon Welding, and DAIHEN Corporation.

Key segments of the Global Welding Products Market

Welding Products Market - Technology Analysis
-Arc welding
-Resistant welding
-Oxy-fuel welding
-Laser beam welding
-Others (ultrasound welding, etc.)

Welding Consumables Market - Product Segment Analysis
-Stick electrodes
-Solid wires
-Flux-cored wires
-SAW wires and fluxes
-Others (gases, etc.)

Welding Products Market - Application Analysis
-Automobile and transportation
-Building & construction
-Marine
-Others (repair and maintenance, etc.)

Welding Products Market - Regional Analysis
-North America
-Europe
-Asia Pacific
-Rest of the World (RoW)

About Transparency Market Research (TMR)
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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