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Welding Equipment Market Size, Share & Industry Analysis, By Technology (Arc Welding, Resistance Spot Welding, MIG/TIG Welding, Laser Beam Welding, and Others), By Automation Type (Automatic, Semi-Automatic, and Manual), By Application (Automotive, Building & Construction, Heavy Engineering, Railway & Shipbuilding, and Others) and Regional Forecast, 2019-2026
The report has been prepared based on an in-depth market analysis with inputs from industry experts.The “Global Welding Equipment Market Size”Study sheds light on the important growth dynamics expected to prevail across the assessment period 2022. It offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenarios for market players, investors, shareholders, and new entrants The study offers statistics of key segments across prominent geographies, along with a detailed mapping of the global competitive landscape.
The global welding equipment market size stood at USD 11.58 billion in 2018 and is projected to reach USD 18.79 billion by 2026, exhibiting a CAGR of 6.3 % during the forecast period
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Welding Equipment Market Regional Analysis:
Moreover, This report focuses on Welding Equipment Market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application. Regional analysis is another highly comprehensive part of the research and analysis study of the global market presented in the report. This section sheds light on the sales growth of different regional and country-level markets. For the historical and forecast period to 2029, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global market.
Top companies in the Global Welding Equipment Market research report include:
Rapid Growth of Automotive Industry Owing to Increasing Consumption Rate of Vehicles Across the Regions
According to the study, the global production accounted for 70 million units in 2018 with total 77 million units sold worldwide. There is a rapid growth in the demand for automotive vehicles from developing countries, such as China, India, South Korea, Japan, and other European countries as well. New vehicle sales are estimated to rise by 30% in the U.S., Europe, and China, wherein 55% of the new car sales in Europe are projected to be fully electrified over the forecast period.
Several major automotive market players are investing in the Indian automotive sector owing to the growing middle-class income. For instance, Hyundai plans to invest USD 1 billion in India by 2020, whereas Mercedes Benz has increased its manufacturing capacity of luxury cars to 20,000 units per year. The government of India plans to set up research and development centers worth USD 388.5 million to be on par with the international automotive standards.
Frequently used welding procedures that are followed in the automotive applications are commonly known as resistance spot welding, resistance seam welding, rotary friction welding, laser beam welding, medium frequency welding and many others. Welding equipment plays a vital role in the automotive industry, by providing strong strength in the components, which in turn results in optimum safety. Hence, the increasing growth of the automotive industry will ultimately influence the growth of welding equipment market. This growth is attributed due to the exponential usage of welding equipment in the automotive industry, across the globe
COVID-19Outbreak Impact Analysison Welding Equipment Market
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
The COVID-19 outbreak has spawned widespread economic distress and uncertainty, with many industries, markets, and businesses undergoing tremendous stress. However, together, the global community can tide over these challenging times and at Fortune Business Insights™, we aim to provide precise market intelligence through extensive and intensive research into the impact of this pandemic on various businesses.
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Welding Equipment Market Historical Data:
We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country-level is derived from the most credible published sources and through interviews with the right stakeholders.
The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
What’s Included in the Report
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