Major vendors and distributors must leverage new technologies such as IoT and real-time monitoring to gain a bigger market share SAN ANTONIO, March 29, 2022 /PRNewswire/ Frost & Sullivan's
Welding Vendors Focusing on New Technologies and Energy Efficiency for Business Growth, Finds Frost & Sullivan
Growth in the global welding equipment and consumables market is being driven by the introduction of new welding technologies, opportunities from developing regions where infrastructure building and automation are top priorities.
The market is driven by developing regions where infrastructure building and automation is a priority
Santa Clara, Calif. – January 28, 2021 – Frost & Sullivan’s recent analysis,
Newer Welding Techniques to Enable Growth in the Digital Age, reports that increasing competition in the global welding equipment and consumables market has led manufacturers to focus on energy efficiency, operational excellence and reducing maintenance costs. Amid the uncertain economic conditions caused by COVID-19, the industry is forecast to reach $21.74 billion by 2024, growing at a CAGR of 1.3%. Growth is driven by opportunities from developing regions wher
SANTA CLARA, Calif. Frost & Sullivan’s recent analysis, Newer Welding Techniques to Enable Growth in the Digital Age, reports that increasing competition in the global welding equipment and consumables market has led manufacturers to focus on energy efficiency, operational excellence and reducing maintenance costs.
Amid the uncertain economic conditions caused by COVID-19, the industry is forecast to reach US$21.74 billion by 2024, growing at a CAGR of 1.3%. Growth is driven by opportunities from developing regions where infrastructure building, the introduction of new welding technologies, and automation are top priorities.
“Several new developments in welding technologies and materials are emerging due to an increased focus on energy efficiency from vendors and end-users. Advancements such as the ability to monitor and regulate the weld temperature while in the process are generating highly efficient outputs and better quality. These innovations will reduce operational task