LONDON, Dec. 06, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research on the welding gas/shielding gas market, growth in metal manufacturing and metal fabrication industries is expected to propel the growth of the welding gas or shielding gas market forward. Metal manufacturing and metal fabrication refer to the process of manufacturing metal sheets and castings by smelting, casting, and mining metal. Welding and shielding gases are used in the fabrication and manufacturing of metal products to join two parts of metal sheets due to their properties such as strength, durability, and resistance to corrosion.
For instance, in 2022, according to World Population Review, a US-based global independent organisation that provides demographic information about the population, total global steel production in 2021 was 1950.5 million tonnes and 4 million tonnes in 2020, representing a 3.7% increase in total global production. Further, according to Canadian Industry Statistics, a Canada-based government agency that provides industrial data, the total manufacturing value of metal fabricated products was $42.4 billion in 2019 and increased by up to 8.2% every year in Canada. Therefore, the growing metal manufacturing and metal fabrication industries are driving the welding gas/shielding gas industry.
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The global welding gas/shielding gas market size is expected to grow from $2.52 billion in 2021 to $2.69 billion in 2022 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The market is expected to grow to $3.45 billion in 2026 at a CAGR of 6.5%.
Technological advancements are a key trend gaining popularity in the welding gas and shielding gas market. Major companies operating in the welding gas and shielding gas markets are concentrating their efforts on creating innovative technologies to make welding operations faster and safer. For instance, in September 2019, Air Liquide S.A., a France-based technology company that provides industrial gases and services to different industrial sectors, launched Qlixbi. This innovative packaged gas, equipped with digital technology, offers unique features including continuous supply and faster application of gas in welding operations with a suite of innovative cylinders and digital solutions. The digital applications of Qlixbi offer insights that help to improve welding operational productivity and improve efficiency.
Major players in the welding gas/shielding gas market are Air Products and Chemicals Inc, Gulf Cryo, Linde PLC, Iwatani Corporation, Praxair Inc, Taiyo Nippon Sanso Corporation, Southern Industrial Gas Sendirian Berhad, The Messer Group GmbH, American Welding Gas Inc, Ellenbarrie Industrial Gases Ltd, Lincoln Electric Holdings Inc, Elektriska Svets-Aktiebolaget, Fronius International GmbH, Gas Innovations, and Sterling Gases Limited
North America was the largest region in the welding gas/shielding gas market in 2021. The regions covered in this welding gas/shielding gas market research are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The global welding gas/shielding gas market outlook is segmented by type into argon, carbon dioxide, oxygen, hydrogen, other types; by storage into transportation and distribution mode: cylinder and packaged gas distribution, merchant liquid and bulk distribution; by application into gas metal arc welding, gas tungsten arc welding, other application; by end user industry into metal manufacturing and fabrication, construction, energy, aerospace, other end-user industry.
Welding Gas/Shielding Gas Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide welding gas/shielding gas market forecast size and growth, welding gas/shielding gas market segments, welding gas/shielding gas market trends, drivers and restraints, leading competitors’ revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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