Market Size –
The welding gas/shielding gas market size has grown strongly in recent years. It will grow from $2.94 billion in 2023 to $3.19 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to industrial growth, infrastructure development, globalization of manufacturing, automotive industry.
The welding gas/shielding gas market size is expected to see strong growth in the next few years. It will grow to $4.4 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to increased construction activities, economic expansion in emerging markets, stringent regulatory standards, rise in renewable energy projects. Major trends in the forecast period include technological advancements in welding processes, transition to specialty gases, adoption of automation, growing demand for laser welding gases, digitalization in welding, strategic partnerships and mergers, customized gas mixtures.
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Scope Of Welding GasorShielding Gas Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
Growth in metal manufacturing and metal fabrication industries is expected to propel the growth of the welding gas or shielding gas market forward. Metal manufacturing and metal fabrication refer to the process of manufacturing metal sheets and castings by smelting, casting, and mining metal. Welding and shielding gases are used in the fabrication and manufacturing of metal products to join two parts of metal sheets due to their properties such as strength, durability, and resistance to corrosion. For instance, in 2022, according to World Population Review, a US-based global independent organization that provides demographic information about the population, total global steel production in 2021 was 1950.5 million tonnes and 4 million tonnes in 2020, representing a 3.7% increase in total global production. Further, according to Canadian Industry Statistics, a Canada-based government agency that provides industrial data, the total manufacturing value of metal fabricated products was $42.4 billion in 2019 and increased by up to 8.2% every year in Canada. Therefore, the growing metal manufacturing and metal fabrication industries are driving the welding gas or shielding gas market.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The welding gas/shielding gas market covered in this report is segmented –
1) By Type: Argon, Carbon Dioxide, Oxygen, Hydrogen, Other Types
2) By Storage, Transportation and Distribution Mode: Cylinder and Packaged Gas Distribution, Merchant Liquid and Bulk Distribution
3) By Application: Gas Metal Arc Welding, Gas Tungsten Arc Welding, Other Application
4) By End User Industry: Metal Manufacturing and Fabrication, Construction, Energy, Aerospace, Other End-User Industry
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Regional Insights –
North America was the largest region in the welding gas/shielding gas market in 2023. The regions covered in the welding gas/shielding gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the welding gas/shielding gas market report are Air Products and Chemicals Inc., Gulf Cryo, Linde PLC, Iwatani Corporation, Praxair Inc., Nippon Sanso Holdings Corporation, Southern Industrial Gas Sdn Bhd, The Messer Group GmbH, American Welding Gas Inc., Ellenbarrie Industrial Gases Ltd., Lincoln Electric Holdings Inc., Elektriska Svetsnings-Aktiebolaget, Fronius International GmbH, Gas Innovations, Sterling Gases Limited, SIG Gases Berhad, Iceblick Ltd., Messer Canada Inc., WestAir Gases & Equipment, Norco Inc., Weldstar Company, Arc3 Gases, Holston Gases Inc., Roberts Oxygen Inc., NexAir LLC, Indiana Oxygen Company Inc., Haun Welding Supply Inc., Welders Supply Company, Welding Industrial Supply Company, Sidney Lee Welding Supply Inc.
Table of Contents
1. Executive Summary
2. Welding GasorShielding Gas Market Report Structure
3. Welding GasorShielding Gas Market Trends And Strategies
4. Welding GasorShielding Gas Market – Macro Economic Scenario
5. Welding GasorShielding Gas Market Size And Growth
…..
27. Welding GasorShielding Gas Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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