November 1, 2016 · in Industry News
Welding market to grow to $24 billion

The global market for welding equipment, accessories and consumables is projected to reach $24 billion by 2021, according to new report. Growth in the global construction industry, consumer spending, auto sales and full capacity utilization by manufacturers have played a role in driving the growth. The report, Welding Equipment, Accessories, and Consumables Market – Global Forecast to 2021, finds arc welding is projected to be the fastest growing segment, by technology, for the next five years. The main drivers for this growth are the manufacturing and steel industries; steel plays a vital role in these industries.

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