Welding Equipment, Accessories, and Consumables Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company’s Welding Equipment, Accessories, and Consumables Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, November 1, 2024 /EINPresswire.com/ — The welding equipment, accessories, and consumables market has experienced robust growth in recent years, expanding from $24.84 billion in 2023 to $26.73 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to repair and maintenance needs, promising growth in the steel industry, increased demand from other end-use industries, automotive industry growth, rise in infrastructure development.
What Is The Estimated Market Size Of The Global Welding Equipment, Accessories, and Consumables Market And Its Annual Growth Rate?
The welding equipment, accessories, and consumables market is projected to continue its strong growth, reaching $34.83 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to renewable energy projects, global construction growth, rise of electric vehicles, oil and gas industry investments, growing demand for high-performance and efficient welding solutions.
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Growth Driver Of The Welding Equipment, Accessories, and Consumables Market
The increasing demand for the automotive industry is expected to propel the growth of the welding equipment accessories and consumables market going forward. The automotive industry refers to the collection of companies, organizations, and activities involved in the design, development, production, marketing, and selling of motor vehicles. Welding equipment accessories and consumables offer a range of benefits in the automotive industry, including improved productivity, quality, cost-efficiency, safety, and environmental responsibility which can contribute to the overall efficiency and competitiveness of automotive manufacturing.
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Which Market Players Are Driving The Welding Equipment, Accessories, and Consumables Market Growth?
Key players in the market include Air Liquide S. A., British Oxygen Company, Bug-O Systems Inc., Carl Cloos Schweisstechnik GmbH, Cavagna Group UK Ltd., Colfax Corporation, Daihen Corporation, GCE Holding AB, Gentec Corporation, Illinois Tool Works Inc., Kobe Steel Ltd., Koike Aronson Inc., Lincoln Electric Holdings Inc., Linde plc, Matheson Tri-Gas Inc., Elektriska Svetsnings-Aktiebolaget, Fronius International GmbH, Kemppi Oy, Obara Corporation, Panasonic Corporation, ARCON Welding Equipment LLC, Costruzioni Elettromeccaniche Annettoni S. p. A., Ewm Ag, Hyundai Welding Co. Ltd., Kjellberg Finsterwalde Plasma und Maschinen GmbH, Lorch Schweißtechnik GmbH, Miller Electric Mfg LLC, OTC Daihen Corporation, Rofin-Sinar Technologies Inc., Soyer GmbH, Voestalpine Böhler Welding GmbH, Welding Alloys Group Ltd.
What Are the Key Trends That Influence The Welding Equipment, Accessories, and Consumables Market Size?
Major companies operating in the welding equipment accessories and consumables market are focusing on innovative products such as welding machine with management system and connectivity to drive revenues in their market. Welding machine with management system and connectivity refers to a welding equipment system that incorporates advanced features for monitoring, control, data collection, and remote connectivity, designed to enhance the efficiency, quality, and productivity of welding processes.
How Is The Global Welding Equipment, Accessories, and Consumables Market Segmented?
1) By Technology: Arc Welding, Oxy-fuel Welding, Other Technologies
2) By Equipment Type: Welding Electrode, Filler Metal, Oxy-fuel Gas
3) By Application: Automotive, Building and construction, Heavy Engineering, Railway & Shipbuiding, Oil & Gas, Other Applications
Geographical Insights: Asia-Pacific Leading The Welding Equipment, Accessories, and Consumables Market
Asia-Pacific was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Welding Equipment, Accessories, and Consumables Market Definition
Welding equipment, accessories, and consumables refer to the set of products that are used during the process of welding, which is the process of fabrication of metals in which two pieces of metal are joined together by applying heat by using instruments such as welding goggles, welding helmets, welding glass, welding spray, and welding positioners.
Welding Equipment, Accessories, and Consumables Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global welding equipment, accessories, and consumables market report covering trends, opportunities, strategies, and more
The Welding Equipment, Accessories, and Consumables Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on welding equipment, accessories, and consumables market size, welding equipment, accessories, and consumables market drivers and trends, welding equipment, accessories, and consumables market major players and welding equipment, accessories, and consumables market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Originally published at https://www.einpresswire.com/article/755489697/welding-equipment-accessories-and-consumables-global-market-2024-to-reach-34-83-billion-by-2028-at-rate-of-6-8
