NEW YORK, Oct. 22, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, the U.S. engine-driven welder market valued at $133.1 million in 2018, and is expected to cross $188.9 million by 2024, growing at a CAGR of 6.0% during the forecast period (2019–2024). On the basis of application, pipeline construction and maintenance dominated the market, with a value share of 39.5% in 2018.
The demand for engine-driven welders in pipeline application in the U.S. is expected to witness the fastest growth, in terms of both volume and value, by registering a CAGR of more than 4.5% and 5.5%, respectively, during the forecast period. This significant growth rate in the U.S. engine-driven welder market is majorly attributed to the country’s oil & gas pipeline infrastructure, ongoing pipeline projects, and proposed future construction projects. Pipeline operators prefer this type of welders over traditional welders, owing to the lack of electricity sources in remote locations, where pipeline construction or maintenance usually takes place. Thus, the pipeline construction and maintenance operations are expected to boost the market growth in the U.S. over the forthcoming years.
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In recent times, the U.S. engine-driven welder market players have introduced various models of both gasoline- and diesel-based advanced engine-driven welders. These new models have greater flexibility and compatibility with different types of welding processes and user-friendly operating techniques. Leading manufacturers, such as Miller Electric Mfg. LLC and Lincoln Electric Holdings Inc., lately launched a series of new products with integrated technologies, in order to offer advanced products and further diversify their product portfolios. For instance, in April 2019, Miller Electric Mfg. LLC launched the upgraded model of Bobcat 200 Air Pak, which intends to serve as an all-in-one power solution and to reduce fuel consumption and operating costs. Several other manufacturers are also aiming to develop advanced engine-driven welders to improve their market share in the country.
On the basis of fuel type, diesel-based engine-driven welders are expected to witness the highest demand, of 6,221 units, in the U.S. engine-driven welder market by 2024. The market in this category is expected to witness the fastest growth, with a CAGR of 5.4%, during the forecast period. This is owing to the increasing adoption of engine-driven welders in construction and pipeline maintenance operations.
Browse report overview with detailed TOC on "U.S. Engine-Driven Welder Market Research Report: By Fuel Type (Gasoline, Diesel), Amperage (Less Than 200 A, 200 A–299 A, 300 A–399 A, 400 A–499 A, 500 A–599 A, 600 A–799 A, 800 A and Above), Application (Construction, Pipeline, Mining) – Industry Analysis and Forecast to 2024" at: https://www.psmarketresearch.com/market-analysis/us-engine-driven-welder-market
Based on amperage, 300 A–399 A category accounted for the largest volume share, of 29.6%, in the U.S. engine-driven welder market, in 2018. This market share is further expected to increase with a promising CAGR, of 5.3%, during the forecast period. This significant growth rate can be ascribed to the large-scale usage of these welders in pipeline, construction, maintenance, repair, fabrication, and structural steel works, along with agricultural equipment fabrication and repair applications.
On the basis of application, the pipeline category is expected to witness a CAGR of 6.3% during the forecast period. This significant growth rate can be attributed to the proposed pipeline construction projects in the U.S. oil & gas industry, wherein the industry requires pipeline connectivity to transport crude oil, refined products, and natural gas within the country.
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The U.S. energy-driven welder market was highly consolidated in nature, with a cumulative share of 85% occupied by Lincoln Electric Holdings Inc., Miller Electric Mfg. LLC, and Hobert Welding Products, in 2018. The rest 15% market share was shared by around 10 manufacturers only. Among these players, Miller Electric Mfg. LLC accounted for the largest market share, of over 40%, owing to the company’s broad range of product portfolios and wide-spread distribution networks. Major players operating in the U.S. engine-driven welder market include Lincoln Electric Holdings Inc., Miller Electric Mfg. LLC, Hobert Welding Products, Denyo Co. Ltd., Tomahawk Power LLC, Multiquip Inc., and ESAB AB.
Further, the U.S. engine-driven welder market has the presence of a large number of distributors, including Airgas Inc., Middlesex Welding Sales, Cryo Weld, TS Distributors Inc., Norco Inc., WELDING SUPPLIES FROM IOC, One Source Equipment Rentals Inc., Barnes Welding Supply, Service Welding Supply, and A&B Welding Supply.
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