Escalating Orders and Production Output in the European Shipbuilding Industry Boosts Welding Equipment and Consumables Market

The highly mature European welding equipment and consumables market for shipbuilding applications is facing mounting competition from suppliers based in East Asia. However, healthy orders from shipyards over the next three years will boost revenues for welding equipment and consumable manufacturers. At the same time, the intensifying trend towards automation in shipyards will help to support revenue growth.