Worldwide welding products market to reach $19.7 billion by 2025

The global welding products market is projected to reach a market size of $19.7 billion by 2025, according to a new report by New York-based Grand View Research Inc., “Welding Products Market Analysis, By Technology (Arc, Resistance, Oxy-fuel, Laser Beam), By Product (Stick Electrodes, Solid Wires, Flux-cored Wires), By End Use (Transportation & Automobiles, Building & Construction), And Segment Forecasts, 2013–2025.”

The market is projected to experience significant growth over the forecast period because of rising demand from the Asia Pacific region. Increasing investments in infrastructure development, especially in emerging economies such as China and India, are fueling the demand for advanced technology, which in turn is leading to the growth of the market. Asia Pacific is expected to experience higher growth rates as a result of rising demand from the automotive sector in these countries, coupled with increased awareness pertaining to high-quality automotive components.

Globally, the automotive application segment is projected to experience significant revenue growth between 2016 and 2025, growing at a CAGR of more than 4 percent from 2016-2025.

Asia Pacific dominated the global market in 2015 with an estimated revenue of $3.88 billion and is expected to grow significantly in the upcoming years because of large investments from end-use industries. China is projected to experience rise in demand and projected to continue market domination as a result of rapid urbanization and industrialization coupled with favorable government policies for infrastructure development.

To read the full report, visit www.reportlinker.com/p04785487-summary/view-report.html.