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The rapid expansion of the construction industry promotes the growth of the welding product market

Business Research Company’s 2021 Welding Products Global Market Report-COVID-19 Growth and Changes
London, Greater London, UK, September 2, 2021/EINPresswire.com/-The rapid expansion of the construction industry is expected to drive the growth of the welding products market during the forecast period. The construction industry is a very diverse industry, including various activities such as infrastructure, construction and maintenance. Welding is mainly used to produce structural frames from metal parts. Welding is used to connect the trusses, feet, steel I-beams, and columns that support the walls, roofs, and floors of buildings. For example, according to data from the American technology company Intercontinental Exchange (ICE), the global construction industry is expected to grow to 8 trillion US dollars by 2030. Therefore, the rapid expansion of the construction industry has promoted the growth of the welding products market.
The global welding products market is expected to grow from USD 12.1 billion in 2020 to USD 13.31 billion in 2021, with a compound annual growth rate (CAGR) of 10%. The growth is mainly due to the company’s resumption of operations and adapting to the new normal, while recovering from the effects of COVID-19, which earlier led to restrictive containment measures including social distancing, remote work and the closure of business activities, leading to operations challenge. The market size of welding consumables is expected to reach 18.08 billion U.S. dollars in 2025, with a compound annual growth rate of 8%.
Read more about the global welding products market report: https://www.thebusinessresearchcompany.com/report/welding-products-global-market-report
The main players in the welding equipment and supplies market are Lincoln Electric, Colfax, Illinois Tool Works, Kemppi, Kiswel, Obara, Senor Metals Pvt. Co., Ltd., Tianjin Bridge Welding Materials Co., Ltd., ESAB and Ador Welding Ltd.
The Asia-Pacific region is the largest region in the welding products market in 2020. The regions covered by this report include Asia Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.
The global welding product market is subdivided into rod electrodes, solid wires, flux-cored wires, saw wires and fluxes by product. It is divided into arc welding, resistance welding, oxy-fuel welding, laser beam welding, etc. by technology, and subdivided by application into Automobile and transportation, building and construction, ship, other
2021 Welding Products Global Market Report-By-products (rod electrode, solid wire, flux-cored wire, saw wire and flux), by technology (arc welding, resistance welding, oxy-fuel welding, laser beam welding) by application (automotive and transportation) , Building and Construction, Marine), COVID-19 growth and changes is one of a series of new reports from a business research company. The report provides an overview of the welding product market, forecasts the size of the welding product market and the growth of the entire market, and the market segment of welding products And geographic area, welding product market trend, welding product market driving factors, limiting factors, revenue, profile and market share of leading competitors.
Request a sample of the global welding product market report: https://www.thebusinessresearchcompany.com/sample.aspx?id=5303&type=smp
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Post time: Sep-10-2021
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