Innovative Technologies and Emerging Welding Techniques Enable Growth Hubs in the Digital Age
Transformational growth possible through the use of solutions that acquire and manage data
Research Overview
This study analyzes the global welding equipment and consumables market. It provides information on the total market revenues by analyzing three key regions: Europe, the Middle East, and Africa (EMEA); Asia-Pacific (APAC); and the Americas. It discusses the major trends and prevailing scenario across all regions.
Globally, with the exception of some APAC countries, there is a lack of investor confidence that has stalled projects across industries. End users are focusing on cost-optimization measures to reduce their capital investment across segments by implementing measures such as procuring low-cost products from India, China, and Taiwan. The majority of restraints facing the industry are on a global scale, such as the COVID-19 pandemic.
As the slowdown heavily impacts specific markets, the effects are also being felt in related industries. However, there is a sense of optimism that the present scenario will gradually ease during the forecast period, with vendors introducing innovative welding techniques to increase efficiencies.
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