Global Welding Accessories Market 2017-2021
About Welding Accessories
Welding accessories are equipment that are predominantly used with the welding gear to execute a reliable and efficient welding process. Welding technology is a widely-adopted methodology in every small and large-scale industry dealing with fabrication processes and is also used for repairing and refurbishing metal products. Welding can be executed in all possible media viz. air, space, and underwater.
Technavio’s analysts forecast the global gas and welding accessories market to grow at a CAGR of 4.90% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global gas and welding accessories market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Gas and Welding Accessories Market 2017-2021
Technavio recognizes the following companies as the key players in the global gas and welding accessories market: Colfax, Fronius International, Illinois Tool Works, and The Lincoln Electric Company.
Other Prominent Vendors in the market are: American Torch Tip, Arc Machines, GCE Group, Kobe Steel, NIMAK, OTC Daihen, Panasonic Welding Systems, Shenzhen Riland Industry, Senor Metals, and Telwin.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is emergence of friction stir welding technology in automotive sector. Friction stir welding technology is a unique and innovative technique of joining two metals by using frictional heat coupled with a precisely controlled forging pressure. The final product possesses high integrity and is defect-free.”
According to the report, one driver in the market is growing demand from wind energy industry. With depleting fossil fuel resources and stringent environmental regulations pertaining to the generation of electricity using non-renewable sources, there has been a gradual shift of focus toward the use of renewable sources, such as wind energy. The fabrication of wind towers requires the construction of large tubular shapes from individual cans. Internal and external longitudinal welding are required for the cans, while forming, tacking, and welding of internal and external circumferential joints are essential for the formation of the tower.
Further, the report states that one challenge in the market is introduction of new welding technology involves greater R&D expenses. The need to introduce new technology for various welding applications in different end-user industries is posing a major challenge in the market. To enhance productivity, performance, and safety, many industries, such as the automotive, power, energy, and heavy machinery, are increasingly focusing on upgrading technologies to replace the existing ones. The demand for technologically upgraded products of robotics, gantry systems, or work cells is increasing as it helps end-users reduce the cost of production, produce better quality products, and speed up the production process.
Colfax, Fronius International, Illinois Tool Works, The Lincoln Electric Company, American Torch Tip, Arc Machines, GCE Group, Kobe Steel, NIMAK, OTC Daihen, Panasonic Welding Systems, Shenzhen Riland Industry, Senor Metals, and Telwin.