Welding Equipment Market Things to Focus on to Ensure Growth Prospects by 2031
Welding Equipment Market Expected to Reach $13.9 Billion by 2031
PORTLAND, OR, UNITED STATES, April 14, 2023 /EINPresswire.com/ — The welding equipment market size was valued at $8.3 billion in 2021, and is estimated to reach $13.9 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.
Welding equipment is extensively used in various industries such as automotive, aerospace, ship building, and other fabrication workshops for fusing two or more metal components together. Furthermore, welding equipment is used in building and infrastructure applications. For instance, welding equipment is used for connecting structural components for steel bridges.
Download Research Sample with Industry Insights (250+ Pages PDF Report) @ https://www.alliedmarketresearch.com/request-sample/37737
The automotive industry has witnessed significant growth in emerging economies. The Indian automotive industry has grown by about 10% from about $100 billion in 2021 to about $110 billion in 2022. Welding equipment are extensively used to fabricate and connect various automotive components such as chassis, transmission components, and exterior components such as doors and hood. Thus, growth of automotive industry boosts the welding equipment market.
The growth of the construction industry has led to an increase in infrastructure development, such as the construction of highways, bridges, and tunnels. Welding equipment is used extensively in the construction of these structures, providing a significant boost to the welding equipment market. Welding equipment is essential for constructing bridges, as it is used to join steel components together to create the bridge’s structure. This includes the welding of beams, girders, and other steel components that make up the bridge’s framework. Hence, the rise in investment in construction activities, majorly in North America and Europe, is expected to drive the welding equipment market growth.
Make Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/37737
Top Players:
Coherent, Inc., Fanuc, Illinois Tool Works Inc., Panasonic Industry Co., Ltd., The Lincoln Electric Company, ESAB, ACRO Automation Systems, Inc., kemppi Oy, Carl Cloos Schweisstechnik GmbH, Cruxweld Industrial Equipments Pvt. Ltd.
Segmentation Based On:
By Type –
Arc welding
Resistance spot welding
Other
By Technology –
Automatic
Manual
By End user industry
Automotive
Construction
Heavy engineering
Other
Download Research Sample with Industry Insights (180+ Pages PDF Report) @ https://www.alliedmarketresearch.com/request-sample/37737
David Correa
Allied Analytics LLP
+1-800-792-5285
email us here
