Global Welding Products Market is anticipate to exhibit 5% CAGR
from 2019 to 2027
Welding Products Market: Introduction
The global welding products market was valued at ~US$ 21.8 Bn in 2018 and is
anticipated to expand at a CAGR of ~5% from 2019 to 2027. Rapid development in
infrastructure and urbanization are key factors stimulating the expansion of the
global welding products market over the assessment tenure. Welding technology
find increased use in the making of buildings, bridges, pipelines and various other
engineered projects across the globe.
Key Drivers of Welding Products Market
Rapid infrastructural development and technological advancements primarily in the
automotive industry are anticipated to boost demand over the forecast period.
Growing demand for resistant welding technology from numerous applications
mainly in the automotive industry for maintenance and repair are the key factors
propelling the demand for welding products.
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Automotive and Building & Construction to Foster Welding Products Market
Construction industry has been flourishing for quite some time now and has evolved
at a drastic pace. Urbanization due to ever expanding population has mounted
pressure for more residences to be built. Rising demand for buildings is likely to
trigger growth of the global welding products market over the assessment
timeframe. Changes in automobile designs and rise in demand for automobiles,
especially in developing countries, are likely to drive the global welding products
market. Additionally, repair and maintenance of automobiles is projected to add to
the global demand for welding products.
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