Posted 3/27/2024, 1:49:00 PM
Welding Market Growth Driven by Technology, Infrastructure, Sustainability to Reach $19 Billion by 2030
- Revenue from global welding consumables market expected to reach $19.2 billion by 2030, driven by technology, infrastructure, and sustainability trends
- Technological innovations like automation, robotics, and AI enhancing efficiency, precision, and safety of welding
- Infrastructure projects and urbanization fueling welding consumables demand from construction and automotive sectors
- Arc welding retains dominance with 45% market share; laser beam welding emerging rapidly at 8% annual growth
- Asia Pacific leads with 45% market share on robust industrial and infrastructure growth; North America follows with 25% share driven by tech advancements