Global welding machinery market to grow by $5.7 bn

August 13, 2020 6:44 pm

Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world
will influence competition and opportunities in the welding machinery market.

An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The arc welding market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned, states Reportlinker.com in its latest report. It adds, staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.

According to the Reportlinker report, as part of the new emerging geographic scenario, the United States is forecast to readjust to a 4.5 percent CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US$173 million to the region’s size over the next 7 to 8 years. In addition, over US$167.3 million worth of projected demand in the region will come from Rest of European markets.

In Japan, the arc welding segment will reach a market size of US$291.1 million by the close of the analysis period, the report said. It adds, blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the welding machinery market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world’s second largest economy will grow at 9.6 percent over the next couple of years and add approximately US$1.5 billion in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing welding machinery market landscape.

Competitors identified in the market report include, among others, ACRO Automation Systems Inc.; ARCON Welding LLC; Bernard; Carl Cloos Schweisstechnik GmbH; Coherent Inc.; Daihen Corporation; Denyo Co. Ltd.; ESAB; Fronius International GmbH; Hobart Brothers Company; IDEAL-Werk; IGM Robotersysteme AG; Illinois Tool Works Inc.; Kemppi; Kiefel GmbH; Kobe Steel Ltd.; KUKA AG; Manufacturing Technology Inc.; Miller Electric Mfg. Co., ; Panasonic Corp.; Sonics & Materials Inc.; The Lincoln Electric Company; Tianjin Golden Bridge Welding Materials Group; voestalpine Böhler Welding GmbH.