NEW YORK, Oct. 15, 2014 /PRNewswire/ -- This research service is a detailed factbook that analyses the current trends and challenges in the the global welding. It provides key factors driving or restrainiting the market in each region for product and end users. Market estimates in terms of revenue and unit shipment for each end-user in each region and product segments are provided in this research. Furthermore, the revenue and unit shipment forecasts for welding equipment and welding consumables have been provided upto 2020. A comprehensive analysis of the market share and the competitive structure for the global welding market is also included and the key factors influencing the oligopoly market are also discussed.
- The global welding equipment and consumables market continues to witness rapid growth.
- Asia-Pacific, particularly China, is expected to have the largest demand for welding equipment and consumables. The Middle East and Africa is the other high growth region
that propels market growth during the forecast period.
- Rapid industrialization in Latin American countries, coupled with the increasing number of manufacturing facilities in this region, is expected to boost the demand for welding equipment and consumables.
- The gradual recovery of the economy in Europe is likely to sustain market growth during the forecast period. Growth of oil and gas in Russia further propels the growth in this region.
- Consumables are more widely used than equipment. In equipment, arc welding continues to witness high growth across the world.
- The high cost associated with the use of laser welding reduces the attractiveness of the product and, thereby, hinders growth prospects.
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