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The global welding machinery market has been forecast to hit a market value of US$14.8 billion by 2018, with the industry set to be driven by new infrastructure projects specifically wind turbine installations, the recovery in the construction and manufacturing sectors, and the sustained need for maintenance and repair activities in existing applications.
The worldwide economic crisis led to a major decline in demand for global welding machinery market by about 6.4% in 2009. Automotive, aerospace, heavy machinery and ship building industries, prime end-users of welding market, suffered as a result of the financial meltdown.
The effect in turn, percolated to the welding market leading to a slump for welding equipment and related consumables. There was a huge decrease in demand from the automotive industry as both heavy and light vehicle manufacturers drastically cut down production due to low demand and consumer confidence.
The welding machinery industry is taking new strides into the world of sophisticated automation. The advent of robots, laser systems, and computer-aided design and manufacturing systems has defined new horizons for all industries worldwide.
Innovations and enhancements in work management, beam delivery, and laser sources are being integrated for use in a broad range of welding solutions.
US demand for welding equipment and consumables will rise 6.4% annually through 2015. Arc and resistance welding systems will remain the dominant welding techniques. Welding electrodes and filler metal will remain the dominant consumables, while emergent products like flux-and metal-cored electrodes grow the fastest.
Europe constitutes the world's largest region within the global welding machinery market, while the US and Asia-Pacific represent the second and third largest markets.
For more information on the global welding machinery market, see the latest research: Global Welding Machinery Market
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