ALBANY, N.Y.--(BUSINESS WIRE)-- Transparency Market Research has published a new report titled, “Welding Products Market by Consumables (Stick Electrode, Solid Wires, Flux-cored Wires, SAW Wires & Fluxes and Others) Technology (Arc Welding, Resistance Welding, Oxy-fuel Welding, Laser-beam Welding and Others) for Automobile & Transportation, Building Construction, Marine and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.”
The report states that the global welding products market was valued at US$17.47 billion in 2013, and is expected to reach US$23.78 billion by 2020, growing at a CAGR of 4.5% between 2014 and 2020.
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Key Growth Drivers for Global Welding Products Market
The global welding products market has witnessed a huge rise in the recent years due to growth in the automobile industry, building and construction sector, and marine and transportation industries. Recovering and emerging economies in the near future will also lead to expansion global welding products market in the forecasted period. Wind industry too is a potential area for growth for welding products market in region such as Asia-Pacific. As various governments are trying ways to tap into renewable energy resource such as wind power, the construction of wind turbines is expected to drive the global welding products market in the coming years.
Market Segmentation and Competitive Landscape
The vast global welding products market is segmented on the basis of products, technology, applications and region. Some of the key players profiled in this segment are AIHEN Corporation, Obara Corporation, Arcon Welding, Fronius International GmbH, Miyachi America Corporation, ROFIN-SINAR Technologies Inc, Sonics & Materials, Inc., and Doncasters Group Ltd.
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