Welding Products Market to Expand At A CAGR Of 5.7% from 2018 to 2025

The global welding products market size is expected to reach USD 20.48 billion by 2025, according to a new study by Grand View Research, Inc. It is anticipated to expand at a CAGR of 5.7% during the forecast period. Surge in demand for welding products, particularly from building and construction and automotive industry, is expected to contribute to the overall growth.

The market is majorly driven by growing demand from construction industry. Rapid urbanization and infrastructure development are the key factors propelling the growth of the construction industry, which in turn is projected to boost the demand for welding products. Welding technology is extensively used in the construction of pipelines, bridges, buildings, and other engineering projects for infrastructure development.

Welding products are consumed in various applications such as construction and building, transportation and automotive, marine, oil and gas, and others. Increasing investments in infrastructure development, especially in emerging economies, such as China and India, are fueling the demand for advanced technology, which in turn is leading to the market growth. Asia Pacific is expected to witness a high CAGR owing to the rising demand from the automotive sector in these countries coupled with increased awareness pertaining to high-quality automotive components.

Asia Pacific led the global welding products market in 2018 and is projected to continue its dominance, progressing at a CAGR of 6.6% over the forecast period. Robust growth in applications in emerging economies such as China and India is a prominent factor driving the demand for welding products. China is the key market for welding products in Asia Pacific, which accounted for a revenue of USD 1.95 billion in 2018. The market growth is highly dependent on the growth of its application areas.

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Further key findings from the repot suggest:

·       Asia Pacific led the market and is projected to expand at the fastest CAGR of 6.6% over the forecast period. Increasing demand from various application segment, particularly from regions such as China and India is likely to drive the growth

·       Arc welding was the largest technology segment in the global welding products market in 2018 and is also anticipated to lead the market through the forecast period

·       Stick electrode accounted for the largest application segment in 2018 on account of increasing applicability of the stick electrodes in various end-use industries

·       Transportation and automotive was estimated as the largest application segment owing to increasing demand for welding products for the manufacturing of automotive components such as exhaust systems and car bodies requires the use of welding process

Grand View Research has segmented the global welding products market on the basis of technology, products, application, and region:

Welding Products Technology Outlook (Revenue, USD Million, 2014 - 2025)

·         Arc

·         Resistance

·         Oxy-Fuel

·         Laser Beam

·         Others

Welding Products Product Outlook (Revenue, USD Million, 2014 - 2025)

·         Stick Electrodes

·         Solid Wires

·         Flux-Cored Wires

·         Saw Wires and Fluxes

·         Others

Welding Products Application Outlook (Revenue, USD Million, 2014 - 2025)

·         Transportation & Automobiles

·         Building & Construction

·         Marine

·         Others

Welding Products Regional Outlook (Revenue, USD Million, 2014 - 2025)

·         North America

·         Europe

·         Asia Pacific

·         Central & South America

·         Middle East & Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com