COVID-19 Impact On New Metal Welding Market Research 2020-2024

 

The new metal welding market size research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.



"One of the primary growth drivers for this market is the High rate of infrastructure development,” says a senior analyst for the industrials industry at Technavio. The vendors should focus on growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the metal welding market size to grow by USD 8.56 million during the period 2020-2024.

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Metal Welding Market Segment Highlights for 2020

  • The metal welding market is expected to post a year-over-year growth rate of 5.09%.
  • Based on the end-user, the automotive segment saw maximum growth in 2019. Factors such as a high rate of infrastructure development are driving market growth.
  • The growth of the segment will be significant during the forecast period.

Regional Analysis

  • 37% of the growth will originate from the APAC region.
  • The increased adoption of automated products will significantly influence the metal welding market's growth in the APAC region.
  • China and Japan are the key markets for the metal welding market in APAC.

 

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Location: United States

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