ALBANY, N.Y.--(BUSINESS WIRE)--Transparency Market Research has published a new report titled, “Welding Consumables (Stick Electrode, Solid Wires, Flux-cored Wires, SAW Wires & Fluxes, and Others) Market for Automobile & Transportation, Building & Construction, Marine, and Other Applications - EMEA Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.” According to the key statistics stated in the report, the global welding products market was valued at US$17.47 billion in 2013. The market will grow at a CAGR of 4.5% between 2014 and 2020 and will reach US$23.78 billion by 2020.
The global welding consumables market has witnessed a rapid rise in the recent years due to growth in the automobile industry, marine and transportation, and building and construction sectors. In 2013, the building and construction application sector accounted for more than 18% share of the welding consumables market in the EMEA region. However, according to the report, a steady improvement in the US economy has boosted several stagnant projects in the recent past thus, fueling growth in the global welding consumables market.
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The study report includes the segments of the welding consumables market based on product type, applications and key regions. Some of the major product types included in the report segmentation are solid wires, flux-cored wires, stick electrodes, SAW wires & fluxes, magnesium, and other types of gases. The research study also estimates, analyzes, and forecasts the overall welding consumables market in terms of regions such as Africa (EMEA), the Middle East, and Europe and provides estimates in terms of volume and Revenue (US$ Mn).
In addition to the key application segments such as automobile and transportation, marine application, and construction, the study report also studies other applications such as pipelines and repair and maintenance.
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