Welding Products Market
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Moreover, the oil and gas sector is also creating a heightened demand for welding products. The construction of new manufacturing facilities and revamping the old oil infrastructures will drive the demand for welding products. The growing concerns relating to safety in the oil and gas industries will drive the need to replace old and worn out pipelines and install new ones, in turn boosting the demand for welding products.“ Furthermore, the increase in the drilling activities in the oil and gas sector will drive the demand for offshore rigs, which in turn will create growth opportunities for the global welding products market,” states a TMR analyst.
High Cost of Labor in Developed Nations Posing a Challenge for Market
One of the key restraints in the global welding products market is the lack of skilled and trained labor. Labor cost in developed countries is too high, which in turn escalates the production prices, reducing the profit margins of manufacturers. Lack of skilled labor also hampers the process of welding, restraining the growth of this market. Despite the availability of new technologies, the dearth of skilled labor will make it difficult to implement and provide quality services to customers. On a positive note, the growth of the wind energy power sector will create fresh opportunities for the growth of the global welding products market.
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TABLE OF CONTENT Chapter 1 Preface 1.1 Report description 1.2 Market segmentation 1.3 Research scope and assumptions 1.4 Research methodology
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