The Metal Manufacturing & Fabrication Segment is Projected to Play a Key Role in the Welding Gas/Shielding Gas Market and is Projected to Grow at the Highest Rate From 2015 to 2020.
The market for welding gas/shielding gas is segmented on the basis of end-use industry, into metal manufacturing & fabrication, construction, energy, aerospace, and others. With growing infrastructural activities, the demand for steel has increased, which in turn drives the welding gas/shielding gas market. The gases widely used in metal manufacturing & fabrication end-use industry are oxygen, argon, carbon dioxide, and hydrogen. They help in creating an inert gas shield during welding, to protect molten and heated metal from the damaging effects of the surrounding air. MarketsandMarkets projects that the welding gas/shielding gas market will grow from USD 7.17 Billion in 2015 to USD 9.46 billion by 2020, at a CAGR of 5.70%.
The metal manufacturing & fabrication end-use industry segment accounted for the largest share in 2014 in the market for welding gas/shieling gas industry and this trend is projected to continue during the forecast period. Growing consumption of welding gas/shielidng gas in developing countries also drives the market. The growth in the automotive and construction sector is another important factor driving the market for welding gas/shielidng gas.
On the basis of type, the oxygen segment held the largest share, in terms of value, in 2014. It is also projected to grow at a higher rate, owing to its use in oxy-acetylene welding.
Cylinder & packaged gas distribution was the most popular transportation mode for welding gas/shielding gas, in 2014. However, the merchant liquid distribution segment is projected to grow at the second highest rate during the forecast period. Among regions, the Asia-Pacific market for welding gas/shielding gas was the largest, and is projected to grow at the highest rate between 2015 and 2020. This is due to increasing growth of construction industry in emerging economies such as China and India, coupled with the growing demand for automotive & transportation equipment in these countries. This region accounted for 43% of the global market for welding gas/shielding gas industry, in 2014.
Related Reports:
Welding Gas/Shielding Gas Market by End-Use Industry (Metal Manufacturing & fabrication, Construction), Storage, Distribution & Transportation (Cylinder & packaged gas, Merchant liquid), Type (Oxygen), Application (Shielded metal arc welding) & Region - Global Forecast to 2020
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