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This study analyzes the global welding equipment and consumables market. It provides information on the total market revenues by analyzing three key regions: Europe, the Middle East, and Africa (EMEA); Asia-Pacific (APAC); and the Americas. It discusses the major trends and prevailing scenario across all regions.
Globally, with the exception of some APAC countries, there is a lack of investor confidence that has stalled projects across industries. End users are focusing on cost-optimization measures to reduce their capital investment across segments by implementing measures such as procuring low-cost products from India, China, and Taiwan. The majority of restraints facing the industry are on a global scale, such as the COVID-19 pandemic.
As the slowdown heavily impacts specific markets, the effects are also being felt in related industries. However, there is a sense of optimism that the present scenario will gradually ease during the forecast period, with vendors introducing innovative welding techniques to increase efficiencies.
