This research report titled ‘Global Welding Fire Blankets Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global welding fire blankets market into four major end-user segments, of which the top three are discussed below. They are:
- Construction industry
- Energy and utilities
- Marine industry
- Automotive industry
The global welding fire blankets market in the construction industry is expected to grow at a CAGR of more than 3% during the forecast period.
Construction industry deploys a large number of welders, as welding is one of the essential parts of the industry. Construction ventures in developing countries are likely to grow at a much faster rate than those in advanced economies. The highest growth is expected to be seen in developing economies such as China and India. Other emerging economies such as Indonesia, Vietnam, Bangladesh, Thailand, Malaysia, and the Philippines are also expected to witness growth in the construction market.
Energy and utilities industry
The energy and utilities industry is expected to witness growth due to increasing investments in wind and solar energy during the forecast period. Welding is one of the major processes undertaken in the industry, which positively impacts the growth of the welding fire blankets market.
“The power generation industry has been one of the major contributors of revenue to the global welding fire blankets market due to the increasing deployment of renewable power generation capacity. The rapid installation of wind turbines in Asian countries has also contributed to market growth,” says Neelesh Prakash Singh, a lead analyst at Technavio.
Solar energy also involves extensive welding activities. Globally, with many countries focusing on green jobs and technology, the employment outlook for welding workers is bright. Besides being deployed in gas pipelines and oil wells, welders also have many job opportunities in wind farms and biodiesel plants. Also, welding is extensively undertaken to weld solar panels and solar cells.
The marine industry deploys welding applications and technology such as electric welding, friction stir welding, and metal arc welding. The shipbuilding industry is expected to witness growth mainly in APAC. This is attributed to the increasing trend of shipping and maritime cargo operators toward ultra-large vessels, owing to the fuel efficiency and economies of scale that they offer.
“In 2014, South Korea, Brazil, and China were among the major shipbuilding countries that received orders for shipbuilding, representing a significant share of the new orders globally,” says Neelesh.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- Auburn Manufacturing
- Steiner Industries
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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