PUNE, India, August 24, 2016 /PRNewswire/ --
The report "Welding Equipment, Accessories, and Consumables Market by Technology (Arc Welding and Oxy-Fuel Welding), Equipment Type (Welding Electrode, Filler Metal, and Oxy-fuel Gas), Accessory, Consumable, End-Use Industry, and Region - Global Forecast to 2021" published by MarketsandMarkets, The market size is estimated to grow from USD 19.57 Billion in 2016 to USD 24.00 Billion by 2021, at a CAGR of 4.23%.
Browse 345 market data Tables and 50 Figures spread through 286 Pages and in-depth TOC on "Welding Equipment, Accessories, and Consumables Market"
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Factors such as increase in demand for the welding equipment, accessories and consumables market in Asia-Pacific, increase in demand from the end-use industries such as structural (construction), automobiles, steel, and marine (oil and gas) industry are some of the drivers for the growth of welding equipment, accessories, and consumables market.
Consumables such as shielding gases and oxyfuel gases to gain maximum traction during the forecast period
The shielding segment dominated the market in 2015 and is projected to be the fastest-growing segment in the next five years, as a result of the rising demand for argon gases by the industries to meet the demand. Furthermore, the oxy-fuel segment is projected to be the second fastest-growing industry.
Arc welding as a technology to witness the highest growth in the welding equipment, accessories, and consumables market
The report defines and segments the Welding Equipment, Accessories, and Consumables Market on the basis of technology offered into arc welding, oxy-fuel welding, and others. The arc welding technology is projected to grow at the fastest CAGR due to the grow in demand from emerging countries such as China and India, which are ranked first and second, respectively, in the global welding equipment, accessories, and consumables market. The second fastest growing sector is that of oxy-fuel welding.
"Asia-Pacific region to be the largest market for welding equipment, accessories, and consumables during the forecast period."
The Asia-Pacific region leads the market due to its large population and its growing demand for the construction, automobile, steel, and marine (oil and gas) industry. As welding equipment, accessories, and consumables have a widespread application in all these end-use industries, the Asia-Pacific region, which is witnessing a major growth in these sectors as well, has become a large market for these various equipment. This is followed by North America, which is the second largest market for welding equipment, accessories, and consumables.
The ecosystem of global welding equipment accessories and consumables comprises distributors/suppliers such as Colfax corporations. (U.S.), Lincoln Electric Inc. (U.S.), Illinois Tool Works Inc. (U.S.), Air Liquide (France), and the Linde group (Germany). Other players in this market include GCE holding AB (Sweden), Fronius international GMBH (Austria), CSR Limited (Australia), Messer group (Germany), Matheson tri-gas Inc. (U.S.), Bug-O (U.S.), Gentec (China), and Muller (Germany), which help the manufacturers in the development and growth of welding equipment accessories, and consumables markets.
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