Welding Equipment and Consumables for the Power Industry: Frost & Sullivan Predicts Global Market Growth

Welding Equipment and Consumables for the Power Industry: Frost & Sullivan Predicts Global Market Growth PR Newswire LONDON, Aug. 15, 2012 - Surging conversions to renewable power sources propel the growth of welding equipment and consumables from the industry LONDON, Aug. 15, 2012 /PRNewswire/ -- The welding equipment and consumables market in the global power industry witnessed a decline of 21.5% during the global financial crisis in 2009. However, the market has continued to grow since 2010 with the increasing number of investments into renewable power sources, which have fuelled the need for new projects. New analysis from Frost & Sullivan (http://www.industrialautomation.frost.com), Analysis of the Global Welding Equipment and Consumables Market for the Power Industry, finds that the market earned revenues of $445.5 million in 2011 and estimates this to reach $578.7 million in 2017, with a compound annual growth rate of 3.8%. Asia Pacific is expected to have the largest growth prospective over the forecast period, owing to the vast number of ongoing and proposed projects in China and India. SAW equipment and SAW wires and fluxes are expected to have the largest demand - particularly in the wind sector - while the large numbers of thermal projects are expected to propel the growth of the GTAW and SMAW equipment, along with stick electrodes and solid wires.