The Welding Equipment, Accessories, and Consumables by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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In accordance with the comprehensive analysis conducted by The Business Research Company on Welding Equipment, Accessories, and Consumables, the market has exhibited robust growth in recent years, showcasing a compelling trajectory from $24.84 billion in 2024 to a projected $26.73 billion by 2024, indicative of a noteworthy compound annual growth rate (CAGR) of 7.6%. This growth in the historical context can be ascribed to imperative factors such as heightened repair and maintenance requisites, a promising surge in the steel industry, escalated demand across diverse end-use sectors, flourishing automotive industry, and an upswing in infrastructure development.
Prognostications for the welding equipment, accessories, and consumables market foretell a continued trajectory of substantial expansion. Anticipated to burgeon to an estimated $34.83 billion by 2028, manifesting a robust CAGR of 6.8%, this growth is underpinned by factors including burgeoning renewable energy projects, the global upswing in construction activities, the ascent of electric vehicles, strategic investments in the oil and gas industry, and a burgeoning appetite for cutting-edge welding solutions prized for their high-performance and efficiency. Notable trends in this foreseeable period encompass pivotal strides in welding equipment and consumables technology, the pervasive influence of digitalization and automation, seamless integration of Internet of Things (IoT) in welding equipment, the adoption of eco-friendly welding consumables, and a discernible industry focus on lightweight materials.
The growing demand for the steel industry is expected to propel the growth of the welding equipment accessories and consumables market. The increased demand for welded metals in the fabrication industry and the use of welding equipment is used for applications such as stick welding, tungsten inert gas (TIG) welding, and metal inert gas (MIG) welding. For instance, according to the American Iron and Steel Institute, as of January 2022, in the United States, the domestic raw steel production stood at 1,803,000 net tons while the capability utilization rate was 81.9%. Also, according to IBEF, in FY2021, in India, the production of crude steel and finished steel stood a 102.49 MT and 94.66 MT, respectively. Therefore, the growing demand for the steel industry is driving the growth of the welding equipment accessories and consumables market.
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The welding equipment, accessories, and consumables market covered in this report is 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
Technological advancement is a key trend gaining popularity in the welding equipment accessories and consumables market. Technological advancement is a discovery of knowledge that advances technology. For instance, in February 2021, Lincoln Electric, a US-based manufacturer of welding, cutting, and brazing products introduced the new diesel engine-driven welder named Vantage 441X. The Vantage 441X welder/generator is loaded with features to help keep job sites welding at peak performance. It has been equipped with a 41hp, turbocharged Perkins diesel engine, and 100% duty cycle DC welding output that provides enhanced power and performance along with fuel efficiency.
The welding equipment, accessories, and consumables market report table of contents includes:
1. Executive Summary
2. Welding Equipment, Accessories, and Consumables Market Characteristics
3. Welding Equipment, Accessories, and Consumables Market Trends And Strategies
4. Welding Equipment, Accessories, and Consumables Market - Macro Economic Scenario
5. Global Welding Equipment, Accessories, and Consumables Market Size and Growth
.....
31. Global Welding Equipment, Accessories, and Consumables Market Competitive Benchmarking
32. Global Welding Equipment, Accessories, and Consumables Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Welding Equipment, Accessories, and Consumables Market
34. Welding Equipment, Accessories, and Consumables Market Future Outlook and Potential Analysis
35. Appendix
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Welding Equipment & Consumables Market is expected to grow at an exponential CAGR in the years to come.
The development in the construction business in developing markets, for example Brazil, India, and China will increase the demand for the welding equipment & consumables in the nearby prospect.
These nations take a steady financial progress which is supported by the increasing construction manufacturing in the areas.
Growing inhabitants in nations like China and India are demanding home and superior infrastructural amenities.Request a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/welding-equipments-consumables-market/request-sampleGrowing demand for the oil and natural gas, everywhere in the world and growing searches will also motivate the progress of the welding equipment & consumables market.
Developing expertise, for example friction stir welding, in the field of automobile manufacturing may, after this, tip to progress limitations for the welding equipment & consumables industry.
The process is carried out by melting the material.
