United States Welding Consumables Markets, 2021-2028 by Technology (Arc Welding, Oxy-fuel Welding), & Products (Stick Electrodes, Flux-cored Wires) - ResearchAndMarkets.com
September 28, 2021 at 07:10 AM EDT
The "U.S. Welding Consumables Market Size, Share & Trends Analysis 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The U.S. welding consumables market size is expected to reach USD 2.39 billion by 2028 and is expected to expand at a CAGR of 2.3% from 2021 to 2028.
The growing demand for the product due to rising automation in welding primarily in the automotive industry is expected to emerge as the primary growth driver for the market over the forecast period.
The market is fragmented with the presence of a number of global and regional players due to the vast potential of consumable sales in the country. Several manufacturers in the market operate their businesses as integrated entities to cut down the overhead costs. This is expected to be a major barrier for new players entering the market.
The construction industry in the U.S. witnessed rising construction starts in residential and commercial construction applications from 2017 to 2019, with the growth limited by the onset of COVID-19. In addition, factors such as the rising number of single-family houses and strengthening residential replacement in the country have propelled the demand for welding consumables.
U.S. Welding Consumables Market Report Highlights
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