Welding Products Market Expansion 2024-2033: Growth Drivers and Dynamics

The welding products global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Welding Products Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –
The welding products market size has grown strongly in recent years. It will grow from $15.76 billion in 2023 to $16.78 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to rise in industrialization, growth of manufacturing sector, expansion of infrastructure projects, adoption of welding technology in the automotive industry, increasing construction activities.

The welding products market size is expected to see strong growth in the next few years. It will grow to $21.71 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to rise in demand for welding products in the renewable energy sector, growing demand for lightweight materials in various industries, expansion of the oil and gas industry, increasing focus on repair and maintenance activities in aging infrastructure, increasing demand for welding products in the defense industry . Major trends in the forecast period include adoption of automation and artificial intelligence, eco-friendly welding technologies and materials, customization of welding products for specific industrial applications, integration of data analytics for quality control, shift towards more portable and compact welding equipment for flexibility.

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Scope Of Welding Products Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Market Drivers –
The rapid expansion of the construction sector is expected to propel the growth of the welding products market in the forecast period. The construction sector is a very diverse industry that includes various activities such as infrastructure, buildings, and maintenance. Welding is mostly used in the production of structural frameworks from metal components. Welding is used for joining trusses, footers, steel I-beams and columns that maintain a building’s walls, roof, and floors. For instance, according to the Intercontinental Exchange (ICE), a US-based technology company the global construction sector is expected to grow to $8 trillion by 2030. Therefore, the rapid expansion in the construction sector drives the growth of the welding products market.

Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.

The welding products market covered in this report is segmented –

1) By Product: Stick Electrodes, Solid Wires, Flux Cored Wires, Saw Wires and fluxes, Other Products
2) By Technology: Arc Welding, Resistance Welding, Oxy Fuel Welding, Laser Beam Welding, Other Technologies
3) By Application: Automotive And Transportation, Building And Construction, Marine, Other Applications

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Regional Insights –
Asia-Pacific was the largest region in the welding products market in 2023. The regions covered in the welding products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Key Companies –
Major companies operating in the welding products market report are The Lincoln Electric Company, Colfax Corporation, Illinois Tool Works Inc., Kemppi Oyj, Kiswel Inc., Obara Corporation, Senor Metals Pvt. Ltd., Tianjin Bridge Welding Materials Co. Ltd., Elektriska Svetsnings-Aktiebolaget, Ador Welding Ltd., Panasonic Life Solutions India Pvt. Ltd., Rofin-Sinar Technologies Inc., Sonics & Materials Inc., Fronius International GmbH, Daihen Corporation, Voestalpine AG, Arcon Welding Products Private Limited, Air Liquide SA, Carl Cloos Schweisstechnik GmbH, OTC DAIHEN Inc., Mitco Weld Products Pvt. Ltd., voestalpine Böhler Welding Group GmbH, Miller Electric Mfg. Co., GCE Group Ltd., EWM AG, Kjellberg Finsterwalde Plasma und Maschinen GmbH, Lincoln Electric Holdings Inc., FZE Manufacturing Solutions LLC, Copelands Inc., Harvan Manufacturing Ltd., Kooima Company, PT Tech LLC, William L Bonnell Company Inc., Pexco LLC, Arcair Appliance Industrial Co. Ltd., Harris Calorific Inc.

Table of Contents

1. Executive Summary
2. Welding Products Market Report Structure
3. Welding Products Market Trends And Strategies
4. Welding Products Market – Macro Economic Scenario
5. Global Welding Products Market Size and Growth
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31. Global Welding Products Market Competitive Benchmarking
32. Global Welding Products Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Welding Products Market
34. Welding Products Market Future Outlook and Potential Analysis
35. Appendix

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