CLEVELAND, Feb. 24, 2021 /PRNewswire/ -- US demand for welding equipment and supplies is expected to rise 2.6% per year in nominal terms through 2024, according to Welding Equipment & Supplies: United States, a report recently released by Freedonia Focus Reports. Shipments of fabricated metal products are expected to grow 0.9% annually over the forecast period. Building construction expenditures are expected to grow 3.5% annually, while nonbuilding construction expenditures are projected to advance 4.3% yearly over the same period. Increasing construction activity will spur demand for welding equipment for building frames, infrastructure, and metal pipe. Motor vehicle production is forecast to grow 0.6% annually, which will support demand for welding equipment used in the industry. However, aerospace shipments are expected to decline 0.5% per annum during that span, which will dampen demand for welding equipment for the construction of aircraft frames. In addition, the long service life of welding equipment leads to slow replacement cycles, which tempers advances.

Demand for welding equipment and supplies fell an estimated 9.0% in 2020. The economic impact of the pandemic sent fabricated metal shipments and motor vehicle production into a tailspin, which reduced demand for welding equipment and supplies across most end markets. As welding equipment is a durable good, customers delayed investment in new machines due to the uncertain business environment. Furthermore, reduced activity cut wear and tear on welding equipment stocks, further delaying sales. However, welding equipment suppliers were generally considered essential businesses under stay-at-home orders and were thus able to continue manufacturing. In addition, investment delays caused by the pandemic are likely to create pent-up demand for welding equipment, which will benefit suppliers in 2021 and beyond.

These and other key insights are featured in Welding Equipment & Supplies: United States. This report provides an estimate of 2020 and forecast to 2024 for US welding equipment and supplies demand and shipments in nominal US dollars at the manufacturer level. Total demand is segmented by product in terms of:

• arc welders and components
• arc welding electrodes
• resistance welding equipment and components
• gas welding equipment and components
• other products such as electron beam, laser, and ultrasonic welding equipment and components

To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series from 2009 to 2019.

Welding personal protective equipment (e.g., welding helmets, hoods, gloves) and shipments of gases used in welding are excluded from the scope of this report. Re-exports of welding equipment and supplies are excluded from demand and trade figures.

More information about the report is available at:
https://www.freedoniafocusreports.com/Welding-Equipment-Supplies-United-States-FF75040/?progid=91541 

About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Industrials reports can be purchased at Freedonia Focus Reports or MarketResearch.com.

Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:

• total historical market size and industry output
• segmentation by products and markets
• identification of market drivers, constraints, and key indicators
• segment-by-segment outlook in five-year forecasts
• a survey of the supply base
• suggested resources for further study

Press Contact:
Corinne Gangloff
+1 440.684.9600
[email protected] 

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SOURCE The Freedonia Group