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The Asia Pacific and Europe are expected to dominate the arc welding equipment industry over the forecast period. This can be correlated to the rise in the number of construction projects. India and China are predicted to be the major market for the product in the Asia Pacific due to the rise in industrialisation.
The extreme shortage of skilled labours in the manufacturing industry has fuelled the automated arc welding equipment demand across the market. The adoption of automated arc welding equipment in the automotive industry to meet the rising demand for passenger cars is expected to bolster the market over the forecast period. Government investments in infrastructure development projects are predicted to further aid the arc welding equipment industry.
Manufacturers are focusing on robotic and automated arc welding equipment to maximize their profits. In 2016, The Lincoln Electric Company (NASDAQ: LECO) took possession of Vizient Manufacturing Solutions, a robotic and automated welding equipment manufacturing company. In 2017, Colfax Corporation (NASDAQ: CFX) acquired Siemens Turbomachinery Equipment GmbH (STE) division from Siemens AG (NASDAQ: SIEGY). Such mergers and acquisitions are expected to bolster the growth of the arc welding equipment industry.
Market Analysis by Process, Level of Automation, Gases, Application, and Region:
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The major players in the global arc welding equipment market are Colfax Corporation, Telwin Spa, The Lincoln Electric Company, L’air Liquide S.A, Arcon Welding Equipment, Automation International Inc., and Miller Electric Mfg. LLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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