London, 03 February 2015: TechNavio, the independent tech-focused global research firm, has published a report on the Global Welding Equipment Market 2015-2019, which is expected to grow at a CAGR of 5.34 percent during the forecast period of 2014-2019.
Incessant energy requirements, defense modernization, rise in middle class income resulting in increased demand for automobiles are some of the main reasons in the developing countries that would increase the need for welding equipment. Increase in manufacturing activities along with infrastructure development is also expected to help in the growth of the market for welding equipment.
“Manufacturing companies in developed countries have adopted welding robots for their manufacturing process to reduce their dependency on manual labor,” says Faisal Ghaus, Vice President of TechNavio.
“The need for automating manufacturing processes has been one of the major requirements in the market in recent years. Some developing countries have also started to adopt robotics because of the increase in labor costs.”
Key Market Drivers
- Increased Demand from Emerging Countries
- Increased Demand from Fabrication Industries
- Low Costs of Welding
- Development of Information Technology
Key Market Trends
- Automation of Welding Equipment
- Increased R&D
- Increased Awareness about Welding
Key Market Vendors
- Colfax Corp.
- Illinois Tool Works Inc.
- Lincoln Electric Company Inc.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
