Welding equipment market expected to reach $19.1 billion by 2024

In a new report, "Welding Equipment Market: Global Industry Analysis and Forecast, 2016 -2024,” New York-based Persistence Market Research estimates the global welding equipment market will be valued at $10.5 billion by the end of 2016, with a CAGR of 7.9 percent from 2016 to 2024.

Sustained growth over the next eight years will be fueled by burgeoning automobile and construction industries, especially in emerging economies such as India and China. Rapid growth in the transportation industry and an increasing demand from the oil and gas industry also are driving the growth of the global welding equipment market.

Market growth is likely to be further augmented by an increasing number of end-use applications that use different types of welding equipment and techniques. Slow adoption of advanced welding technologies in developing countries such as India is likely to hamper market growth over the forecast period.

Among regions, Asia Pacific is the largest market for welding equipment and is expected to remain dominant throughout the forecast period.

To download the report table of contents, figures, and tables, visit www.persistencemarketresearch.com/market-research/welding-equipment-market/toc.