DUBLIN, Oct. 29, 2021 /PRNewswire/ — The «Welding Fume Extraction Equipment – Global Market Trajectory & Analytics» report has been added to ResearchAndMarkets.com’s offering.
Amid the COVID-19 crisis, the global market for Welding Fume Extraction Equipment estimated at US$3.8 Billion in the year 2020, is projected to reach a revised size of US$5.1 Billion by 2026, growing at a CAGR of 4.9% over the analysis period. Mobile Units, one of the segments analyzed in the report, is projected to grow at a 5% CAGR to reach US$2.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Stationary Units segment is readjusted to a revised 4.4% CAGR for the next 7-year period. This segment currently accounts for a 32.1% share of the global Welding Fume Extraction Equipment market.
The U.S. Market is Estimated at $968.9 Million in 2021, While China is Forecast to Reach $987 Million by 2026
The Welding Fume Extraction Equipment market in the U.S. is estimated at US$968.9 Million in the year 2021. The country currently accounts for a 24.51% share in the global market. China, the world’s second-largest economy, is forecast to reach an estimated market size of US$987 Million in the year 2026 trailing a CAGR of 6.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 4.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR while the Rest of European market (as defined in the study) will reach US$1 Billion by the close of the analysis period.
The strong growth in the welding machinery market is expected to offer a strong foundation for growth in the market. Rapid industrialization and the subsequent rise in income levels have long been major factors in promoting demand for consumer durables and automotive sectors. A resurgent automotive sector and a consumer durables sector are expected to further drive demand for welding equipment in the coming years. Growth in the welding industry will continue to be driven by offshore and onshore oil and gas exploration as well as refining pipeline construction projects in the post pandemic period, which will place significant demand for welding consumables, equipment, steel pipes, manufacturing automation, wirings and cables. With pipelines regarded as the most efficient method of transporting oil and gas products from the source to the consumer, welding equipment, vital in metal joining, is set to witness growth in tandem with rising pipeline projects. Product innovations, advances in the manufacturing process as well as technological improvements are all factors expected to positively influence the global welding equipment market. The manufacturing and fabrication sectors are continuously on the path of evolution, typified by ever-changing materials used, increasing data monitoring needs, and growing sophistication that requires an increased level of automation. These evolving needs are driving end-users to continuously invest in advanced solutions that enable them to uphold high levels of productivity and quality.
Large Centralized Systems Segment to Reach $1.2 Billion by 2026
In the global Large Centralized Systems segment, the USA, Canada, Japan, China and Europe will drive the 5.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$685.6 Million in the year 2020 will reach a projected size of US$983.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$165 Million by the year 2026, while Latin America will expand at a 6.3% CAGR through the analysis period.
- Air Liquide Welding group
- Donaldson Company, Inc
- Filcar S.p.A
- Kemper America Inc.
- Lincoln Electric Co.
- Miller Electric Mfg. Co.
- Pace Worldwide
- Parker Hannifin Corporation
- RoboVent Products Group, Inc.
- Sentry Air Systems, Inc.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
- These are Times When Questions Abound & Answers Are Few
- So How Fast Or Slow Are We Moving?
- Exhibit 1: How Fast the World is Vaccinated Will Determine How Soon the Pandemic Will End: Global Percentage (%) of Population Administered With Vaccines in Advanced Economies, Emerging Markets, and Low-Income Countries As of July 2021
- Exhibit 2: How & When Will the World Be Vaccinated? Global Number of Annual COVID-19 Vaccine Doses (In Million) for Years 2020 through 2025 by Geographic Region/Country
- Split Scenarios Unfold: The Great Vaccine Divide Emerges
- Exhibit 3: Time is of Essence! What We Know So Far – «Vaccine Efficiency Against New Strains is Decreasing»
- Progress on Vaccinations, Why Should Businesses Care?
- With IMF’s Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish About an Economic Comeback Despite a Continuing Pandemic
- Exhibit 4: A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants, Comes as a Relief for Suffering Industries & Markets: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
- Exhibit 5: Easing Unemployment Levels in 2021 Although Moderate Will Infuse Hope for Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2019, 2020, 2021, and 2022
- How Major End-Use Industries Are Impacted by the Pandemic & What’s the New Normal?
- Manufacturing Industry
- Exhibit 6: Global Machine Tools Market Reset & Trajectory – Growth Outlook (In %) For Years 2019 Through 2025
- Exhibit 7: The Pandemic Accelerates the Momentum Towards Manufacturing Automation: Global Manufacturing Automation Market Reset & Trajectory – Growth Outlook (In %) For Years 2019 Through 2025
- Automotive Manufacturing
- Exhibit 8: Global Automotive Market Reset & Trajectory – Growth Outlook (In %) For Years 2019 Through 2025
- Construction Industry
- Exhibit 9: Global Construction Spending (In US$ Trillion) for the Years 2019, 2020, & 2021
- Welding Fume Extraction Equipment: Definition, Scope, Importance, Benefits & Applications
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Robust Outlook for Welding Machines Provides the Foundation for Growth in the Market
- Exhibit 10: Global Opportunity for Welding Machinery (In US$ Billion) for Years 2020, 2022, 2024 and 2026
- Health Risks & Stringent Worker Safety Regulations Spur Adoption
- Adoption of Laser Welding Bodes Well for Increased Adoption of Welding Fume Extraction Equipment
- Laser Welding is a Fast Emerging Trend in Production
- Although Effective, Laser Welding Emits Hazardous Fumes that Mandate Use of Welding Fume Extraction Equipment
- Increased Adoption of Automated & Robotic Wielding Systems Drives the Need for Welding Fume Extraction Equipment
- Focus on Automation Pushes Up Investments in Robotic Welding
- Robotic Welding Creates Hazardous Fumes & Dust
- Robotic Fume Extraction Rises in Popularity
- Plasma Wielding Aggravates the Threat of Toxic Fumes Driving Demand for Welding Fume Extraction Equipment
- Technological Advancements and Innovations Contribute to Market Growth
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
REST OF EUROPE
REST OF ASIA-PACIFIC
REST OF LATIN AMERICA
For more information about this report visit https://www.researchandmarkets.com/r/tc4hla
Research and Markets
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