Welding Equipment Market Analysis By Manufacturers
Welding technology is an inseparable part of automobile industry with different types of welding techniques being used such as laser-beam welding, friction welding, and resistant welding. Rampant growth of automobile industry in the recent past increased the demand for welding equipment significantly. For instance, according to International Organization of Motor Vehicle Manufacturers (OICA), total global car sales were pegged at 82 million units in 2012, which increased to 95 million units in 2018. Moreover, rapid growth of construction industry, especially in emerging economies India and China is expected to drive the market growth over the forecast period. Various end-use industries such as transportation & automotive, steel structure, building & construction are witnessing lucrative growth emerging economies such as China and India, which in turn, is expected to boost the market growth over the forecast period.
