According to the latest market study released by Technavio,
the global
welding fire blankets market is expected to grow at a
CAGR of 3% during the forecast period.
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Technavio has published a new report on the global welding fire blankets market from 2017-2021. (Graphic: Business Wire)
This research report titled ‘Global
Welding Fire Blankets Market 2017-2021’ provides an in-depth
analysis of the market in terms of revenue and emerging market trends.
This report also includes an up to date analysis and forecasts for
various market segments and all geographical regions.
This report is available at a USD 1,000 discount for a limited time
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The market research analysis categorizes the global welding fire
blankets market into four major end-user segments, of which the top
three are discussed below. They are:
-
Construction industry
-
Energy and utilities
-
Marine industry
-
Automotive industry
Construction industry
The global welding fire blankets market in the construction industry is
expected to grow at a CAGR of more than 3% during the forecast period.
Construction industry deploys a large number of welders, as welding is
one of the essential parts of the industry. Construction ventures in
developing countries are likely to grow at a much faster rate than those
in advanced economies. The highest growth is expected to be seen in
developing economies such as China and India. Other emerging economies
such as Indonesia, Vietnam, Bangladesh, Thailand, Malaysia, and the
Philippines are also expected to witness growth in the construction
market.
Energy and utilities industry
The energy and utilities industry is expected to witness growth due to
increasing investments in wind and solar energy during the forecast
period. Welding is one of the major processes undertaken in the
industry, which positively impacts the growth of the welding fire
blankets market.
“The power generation industry has been one of the major contributors
of revenue to the global welding fire blankets market due to the
increasing deployment of renewable power generation capacity. The rapid
installation of wind turbines in Asian countries has also contributed to
market growth,” says Neelesh Prakash Singh, a lead analyst at
Technavio.
Solar energy also involves extensive welding activities. Globally, with
many countries focusing on green jobs and technology, the employment
outlook for welding workers is bright. Besides being deployed in gas
pipelines and oil wells, welders also have many job opportunities in
wind farms and biodiesel plants. Also, welding is extensively undertaken
to weld solar panels and solar cells.
Marine industry
The marine industry deploys welding applications and technology such as
electric welding, friction stir welding, and metal arc welding. The
shipbuilding industry is expected to witness growth mainly in APAC. This
is attributed to the increasing trend of shipping and maritime cargo
operators toward ultra-large vessels, owing to the fuel efficiency and
economies of scale that they offer.
“In 2014, South Korea, Brazil, and China were among the major
shipbuilding countries that received orders for shipbuilding,
representing a significant share of the new orders globally,” says
Neelesh.
The top vendors highlighted by Technavio’s market research analysts in
this report are:
-
3M
-
Auburn Manufacturing
-
ESAB
-
Steiner Industries
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About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
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