Global Welding Machinery Industry

• Publication date: October 2012
• Report size: 616 pages

This report analyzes the worldwide markets for Welding Machinery in US$ Million by the following Product Segments: Arc Welding Machinery, Gas Welding & Cutting Machinery, Resistance Welding Machinery, Laser Welding Machinery, Ultrasonic Welding Machinery, Other Welding Machinery, and Electrodes, Components, Apparatus & Accessories. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, Middle East, a...

This report analyzes the worldwide markets for Welding Machinery in US$ Million by the following Product Segments: Arc Welding Machinery, Gas Welding & Cutting Machinery, Resistance Welding Machinery, Laser Welding Machinery, Ultrasonic Welding Machinery, Other Welding Machinery, and Electrodes, Components, Apparatus & Accessories. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Annual estimates and forecasts are provided for the period 2010 through 2018. A six-year historic analysis is also provided for these markets. The report profiles 279 companies including many key and niche players such as Acro Automation Systems, Inc., ARCON Welding LLC, Banner Welder, Inc., Boehler Thyssen Welding USA, Inc., British Federal Ltd, Carl Cloos Welding Engineering GmbH, Daihen Corporation, Datalogic Automation S.r.l, Denyo Co. Ltd., Dukane Corporation, ESAB Holdings Ltd., ESAB India Limited, Fronius International GmbH, GSI Group, Inc., Gf Welding S.p.A, Ideal-Werk C+E Jungeblodt GmbH & Co. KG, IGM Robotersysteme AG, Illinois Tool Works, Inc., Bernard, Hobart Brothers Company, Miller Electric Mfg. Co., Orbitalum Tools GmbH, KUKA Aktiengesellschaft AG, KUKA Systems GmbH, Kemppi Oy, Kiefel GmbH, L' Air Liquide S.A., Oerlikon Welding, DUCTIL S.A, Lincoln Electric Holdings, Inc., Miyachi Corporation, Motoman, Inc., Nelson Stud Welding, Inc., NIMAK GmbH, OBARA Group Inc., Packard, Inc., Panasonic Welding Systems Co., Ltd., PRIMA INDUSTRIE S.p.A., Rofin-Sinar Technologies, Inc., ROFIN-LASAG AG, Schlatter Holding AG, Schunk Sonosystems GmbH, Sonics & Materials, Inc., Soudronic AG, Svejsemaskinefabrikken Migatronic A/S, and Victor Technologies Group, Inc. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based upon search engine sources in the public domain.

Mechanics And Part Industry in Spain

I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS
Study Reliability and Reporting Limitations I-1
Disclaimers I-2
Data Interpretation & Reporting Level I-2
Quantitative Techniques & Analytics I-3
Product Definitions and Scope of Study I-3
Definition of Product Segments I-4
Arc Welding Machinery I-4
Gas Welding & Cutting Machinery I-4
Resistance Welding Machinery I-4
Laser Welding Machinery I-4
Ultrasonic Welding Machinery I-4
Electrodes, Components, Apparatus & Accessories I-4


II. EXECUTIVE SUMMARY

1. INDUSTRY OVERVIEW II-1
Prelude II-1
Growing Demand for Welding Equipment and Consumables Market
from Pipeline Industry II-1
Recession Related Trends in the Welding Machinery Market II-2
Economic Crisis Leads to Decline in Sales II-2
Demand for Laser Welding Machinery Plummets During Recession II-2
Maintenance & Repair and Energy Sectors Emerge as Robust End-
use Segments II-2
Noteworthy Trends & Issues II-2
Maintenance and Repair Needs of End-Use Sectors: Growth
Prospects for Welding Machinery Market II-2
Innovations Lead the Industry II-3
User Friendly Equipment: Order of the Day II-3
Rising Demand for Aluminum Welding Equipment II-3
Increasing Preference for Gas Tungsten Arc Welding Process II-4
Plastic Welding Sidelines Metal Welding II-4
New Techniques Transform Welding Process II-4
Automation of Welding Equipment Growing Popular II-5
Adhesives Reduce Need for Welding II-5
Impact of Quality Control II-5
South African Welding Machinery Market: An Insight II-5
Competitive Landscape II-6
Table 1: Leading Players in the Global Welding Equipment
Market (2011): Percentage Breakdown of Value Sales for
Lincoln Electric, ESAB, ITW and Others (includes
corresponding Graph/Chart) II-6

2. PRODUCT OVERVIEW II-7
An Introduction to Welding II-7
Bonding Through Welding: A Permanent and Laborious Process II-7
Welding Machinery Industry: A Categorization II-7
Types of Welding II-8
A. Solid State Welding II-8
Inertia Welding II-8
Ultrasonic Welding II-8
The Process II-9
Advantages of Ultrasonic Bonding II-9
Overview of Advanced Ultrasonic Plastic Welding Machines II-9
B. Fusion Welding II-9
Arc Welding II-10
Types of Arc Welding II-10
Shielded Metal Arc Welding II-10
Gas Metal Arc Welding II-10
Flux-Cored Arc Welding II-10
Gas Tungsten Arc Welding II-10
Submerged Arc Welding II-10
Plasma Arc Welding II-11
Percussive Arc Welding II-11
Tungsten Inert Gas Vs Metal Inert Gas - A Comparison II-11
Gas Welding and Cutting Machinery II-11
Resistance Welding Machinery II-11
C. Specialty Welding II-11
Power Beam Welding II-11
Electron Beam Welding II-12
Laser Beam Welding II-12
Flash-Butt Welding II-12
Electroslag Welding II-12
Explosion Welding II-12
Hot Plate Welding II-13
Vibration Welding II-13
Stud Welding II-13
Spin Welding II-14
Spinning the Magic: Advantages of Spin Welding II-14
Induction Welding II-14
Dielectric Welding II-14
Robotic Welding II-14
A Step Towards Automation II-14
Robotic Arc Welding: Still in its Infancy II-15
Robotic Spot Welding: Taking Over Rapidly II-15
Robotic Welding Sensors II-15
Booming Demand for Welding Robots II-15
Laser Welding II-16
An Insight II-16
Laser Welding Vs Other Welding Techniques II-16
Yttrium Aluminum Garnet and Carbon Dioxide Laser Welding II-16
High Power Laser Welding II-17
Laser Spot Welding II-17
Robotic Laser Seam Welding II-17
Blank Welding II-17
Electrodes, Components, Apparatus & Accessories II-17
Welding Hazards: Environmental Issues II-17

3. REVIEW OF SELECT PRODUCT SEGMENTS II-18
Arc Welding Machinery Market II-18
Table 2: World Arc Welding Machinery Market (2012E):
Percentage Share Breakdown of Value Sales by End-Use Segment
- Fabrication and Construction, Shipping and Offshore,
Petroleum and Chemical, Mining and Earthmoving, Automotive
and Transportation, and Others (includes corresponding
Graph/Chart) II-18
Manufacturers Lay Emphasis on R&D II-19
Arc Welding Equipment: Impact of Modern Electronics II-19
Competitive Landscape II-19
Table 3: Leading Players in the Global Arc Welding Equipment
Market (2010): Percentage Share Breakdown of Value Sales for
Lincoln Electric, ITW, ESAB, Thermadyne, Schneider and Others
(includes corresponding Graph/Chart) II-20
Gas Welding and Cutting Machinery II-20
Table 4: World Market for Gas Welding and Cutting Machinery
(2012E): Percentage Share Breakdown of Value Sales by End-Use
Segment - Heating, Ventilation and Air Conditioning;
Automotive; Maintenance and Repair; and Others (includes
corresponding Graph/Chart) II-20
Resistance Welding Machinery II-21
Table 5: World Market for Resistance Welding Machinery
(2012E): Percentage Share Breakdown of Value Sales by End-Use
Segment - Automotive, Appliances, Construction, and Others
(includes corresponding Graph/Chart) II-21
Laser Welding Machinery II-21
Table 6: World Laser Welding Machinery Market (2012E):
Percentage Share Breakdown of Value Sales by End-Use Segment -
Automotive, Fabrication and Job Shops, Appliances, Food and
Beverage, and Others (includes corresponding Graph/Chart) II-22
Ultrasonic Welding II-22
Table 7: World Market for Ultrasonic Plastic Welding
Machinery (2012E): Percentage Breakdown of Value Sales by
End-Use Segment - Automotive, Toys, Appliances, Medical,
Packaging, and Others (includes corresponding Graph/Chart) II-23
Electrodes, Components, Apparatus & Accessories II-23
Table 8: World Electrodes, Components, Apparatus and
Accessories Market (2012E): Percentage Share Breakdown of
Value Sales by End-Use Segment - Fabrication, Ship, Farm,
Oil/Gas, Rail/Road, and Others (includes corresponding
Graph/Chart) II-23

4. FOCUS ON END-USE SECTORS II-24
End-Use Market Trends Affecting Fortunes of the Welding Industry II-24
Table 9: World Welding Machinery Market (2011): Percentage
Share Breakdown of Value Sales by End-Use Sector - General
Industrial Applications, Energy, Infrastructure, Automobiles,
Construction and Shipbuilding (includes corresponding
Graph/Chart) II-24
Automotive: The Key Growth Driver Industry II-24
Welding in Nuclear Plant Maintenance II-25
Welding in the Pipe Industry II-25
New Prospects for Railways II-25
Energy Sector: A Major End-use Segment II-25

5. TECHNOLOGICAL DEVELOPMENTS/ BREAK THROUGHS - A HISTORICAL
PERSPECTIVE II-27
Installation of Computer Controlled Lasers II-27
Emergence of Droplet Welding II-27
Technology to Seam Weld Aluminum Sheets II-27
Cerasolzer to Substitute Complex Bonding Methods II-27
Lincoln Develops Tandem MIG Welding Process II-27
New Technology Developed by Sumitomo Metal Industries II-28
Berkeley Process Develops Sealing Process for Nuclear Fuel
Canisters II-28
Toyota Develops New Technology for Resin Welding II-28
Aichi Sangyo Develops New Welding Machine II-28

6. PRODUCT INNOVATIONS/INTRODUCTIONS II-29
Wuhan Kaiqi Special Welding Equipment Unveils 5kW Fiber Laser
Seam Welding Machine II-29
Multiplaz North America Unveils Multiplaz 3500 Welding Machine II-29
Lincoln Electric Unveils Pipeliner® 81M Wire II-29
Lincoln Electric Introduces Arc Tracker™ Portable Weld
Performance Monitoring Module II-29
Oerlikon Welding Launches CITORCH T NG Line of Welding Torches II-30
CRC-Evans Automatic Welding Unveils New Vision Welding System II-30
Nippon Avionics Launches NRW-PS300 Battery Tab Welding Machine II-30
Oerlikon Welding Unveils CITOTIG 240 AC/DC Welding Machine II-30
Lincoln Electric Launches Statiflex® and Mobiflex® High
Efficiency Systems II-31
Migatronic Introduces New Omega 400 Model II-31
Migatronic Introduces Pi 350 DC Machines in Water-Cooled and
Air-Cooled Versions II-31
Lincoln Electric Unveils Square Wave™ TIG 175 Welder II-32
Motoman Robotics Unveils MA1650T Master Arc Inverted Welding
Robot II-32
Motoman Robotics Develops MS120 Master Spot Welding Robot II-32
Motoman Robotics Introduces MA3100 Master Arc Welding Robot II-33
Sonics Unveils New Ultrasonic Metal Welding Systems II-33
Migatronic Unveils Pi 350 DC Welding Machines II-34
CRC-Evans Introduces P600 External Welder II-34
Afrox Unveils MMA160 and MMA 140 Welding Machines II-34
Miyanchi Unitek Launches Advanced Data Analysis Monitor II-34
Thompson Friction and Moog Develop E100 Linear Friction
Welding Machine II-35

7. PRODUCT INNOVATIONS IN THE RECENT PAST - A HISTORIC PERSPECTIVE
BUILDER II-36
Kemppi Launches FitWeld 300 MIG/MAG Welder II-36
Migatronic Introduces Two New Delta Welding Machines II-36
Miller to Launch New Plasma Cutting and Welding Solutions II-36
Hobart Brothers Adds Two Latest Welding Wires to McKay® Brand II-37
Hobart Brothers Launches Fabshield XLR-8™ - Self-Shielded
Flux-cored Wire II-37
Hobart Brothers Develops Hobart® Boilermaker™ Stick Electrodes
Range II-37
Lincoln Adds Three New Electrodes to Low Hydrogen Electrodes
Range II-38
Hobart Brothers Launches Two Metal-Cored Welding Wires II-38
Motoman Launches ArcWorld V-1000 - Robotic Arc Welding Machine II-38
Northwest RF Launches Weldpro 4.0-RF Plastics Welding Systems II-39
Capability Resources to Launch zRID Welding Safety System II-39
TRUMPF Unveils TruLaser Station 5004 Laser Welding Systems II-39
ESAB Introduces Origo Mig 4001i Welding System II-39
ESAB Rolls Out MTS 3500i Multipurpose Welder II-40
ESAB Launches Multiple Option Welding Machine Line II-40
Miller Electric Unveils Water-cooled TIG Welding Systems II-40
Lincoln Electric Rolls Out Magnum®PRO Semi-automatic Welding Guns II-41
Miller Electric Launches AlumaFeed Synergic - Aluminum Welding
System II-41
Laserdyne Introduces LASERDYNE 795 Laser Welding System II-41
Lincoln Electric Rolls Out VRTEX™ 360 Welding Simulator II-41
Miller Electric Unveils PipeWorx™ Welding System II-42
bielomatik Launches New Welding Unit II-42
GYS Unveils Gysmi 196 FV and Gysmi 146 DV Welding Machines II-42
ESAB Unveils Caddy™ Arc 201i and 151i Welding Power Supplies II-43
BOC Launches Smootharc DC 185 TIG Welding Machine II-43
Rofin-Baasel Launches Laser Welding-Wires Range II-43
BOC Introduces MIG 170P Portable Welding Unit II-43
Jackson Introduces Three New Electrode Holders II-44
Kuka Robotics Launches Three New Welding Products II-44
GSI Lasers Introduces New Laser Scanning Systems II-44
Hobart Brothers Launches Hobart® Fabshield X80 Welding Wire II-44
Hobart Brothers Introduces Hobart® Fabshield® 23 Welding Wire II-45
Hobart Brothers Introduces Hobart® Deckmaster™ 1139 Stick
Electrode II-45
Hobart Brothers Launches Hobart®419 Stick Electrode II-45
Hobart Brothers Unveils X-Pak for Metal-cored Welding Wires II-45
PRIMA INDUSTRIE Launches OPTIMO-Vivida - 3D Machine II-46
Sonics Unveils Handheld Ultrasonic Welding Systems II-46
Sonics Launches Ultrasonic Welding System II-46
Kemppi Launches MasterTig MLS™ 3000/3003- ACDC Welding Solutions II-47
Motoman Introduces ArcWorld C-50 Series Welding Solutions II-47
Hobart Brothers Launches Advanced Fabshield XLR-8 Wire II-47
GSI Group to Introduce Fiber Laser Collection II-47
Hobart Brothers Introduces Advanced Mild Steel Rocket 7024
Stick Electrode II-48
Hobart Brothers Introduces Hobart Fabshield 21B II-48
Hobart Brothers Introduces Metalloy Vantage D2 II-48
Kemppi Introduces Latest MSF 57 and MF 29 Wire Feed Units II-49
Air Liquide Welding and OTC-Daihen Introduces Power Source
Welding II-49
Miller Electric Introduces New Syncrowave 250 DX and 350 LX
Welders II-49
Miller Electric Launches Millermatics MIG Welders II-49
Miller Electric Introduces Pipe Pro 304 with Weather Proofing
Option II-50
Miller Electric Unveils Weather Proofing Option for Miller PRO
300 II-50
Miller Electric Launches New Maxstar 350 II-50
Miller Electric Introduces New Dynasty 350 AC/DC TIG Inverter II-51
Miller Electric Launches Millermatic 180 with Smooth-Start
Technology II-51
FANUC Robotics Launches ARC Mate 100iC Robot II-51
Butters AMT Launches Multi-Process Fusor Welding Machines II-52
Kemppi Australia Introduces DC TIG Portable Welders II-52
Kemppi Introduces Heavy Industrial Welding Machine II-52
ESAB Welding & Cutting Launches HLx Range of Laser-Welding
Controls II-52
LASAG Introduces SLS 200 CL8 Welding Laser System II-52
ROFIN-SINAR Introduces New DQ Series of Lasers II-53
Kemppi Launches KempGouge™ ARC 800 Power Source II-53
ESAB Welding & Cutting Products Launches GT-510 Toolbox Outfits II-53

8. RECENT INDUSTRY ACTIVITY II-54
Colfax Takes Over ESAB II-54
Climax Portable Machine Tools Establishes New Depot in South
Manchester II-54
Air Liquide Welding Sets Up Online Learning Platform II-54
NIMAK Receives Order from Daimler for Resistance Welding Machines II-54
West Coast Customs Selects Welding Equipment of Lincoln Electric II-54
Panasonic to Construct New Plant in India II-55
Rofin-Sinar Takes Over LASAG II-55
IPG Photonics Snaps Up Cosytronic II-55
Motoman Merges with Yaskawa Electric America II-55
Alanod-Solar Establishes Laser Welding Centre in US II-56
Audi Selects Migatronic’s Welding Machines II-56
TPSNL to Build New Welding Plant II-56

9. CORPORATE ACTIVITY IN THE RECENT PAST - A HISTORIC PERSPECTIVE
BUILDER II-57
Lincoln Electric Holdings Acquires Jinzhou Jin Tai Welding and
Metal II-57
Antec Takes Over Epitech Products' Stud Welding Business
Operation II-57
Kimberly-Clark Takes Over Jackson Products II-57
Airgas Snaps Up Great Lakes Oxygen II-57
Praxair Distribution Takes Over Three Gas Manufacturing Companies II-58
The Lincoln Electric Inks Agreement to Acquire Jinzhou Jin Tai II-58
Matheson Tri-Gas to Acquire Valley National Gases II-58
BTH Tech GmbH Merges with AS Schöler + Bolte GmbH II-59
Yamabiko to Merge Subsidiaries Kioritz with Shindaiwa II-59
Lincoln Electric Opens New Welding Equipment Facility in India II-59
Lincoln Electric Inks Lease Agreement for Property in Paris II-59
Murex Welding Inks Distribution Agreement with Pan Gulf
Welding Solutions II-60
S.J. Smith Bags U.S. Army Order to Supply Electric Arc Welding
Equipment II-60
Linde Canada Acquires P&B Industrial Sales II-60
The Schlatter Group Acquires NSE Machinery II-60
Lincoln Electric Holdings Takes Over Electro-Arco II-61
Longview Capital Snaps Up Hi-Tech Manufacturing II-61
The Coghlin Companies Takes Over KEF, Inc II-61
Clearview Capital Acquires Mayo Welding Services II-61
Valley National Gases Acquires Beaver Valley Welding Supply II-62
Airgas Takes Over Gordon Woods, Accu Air Gases and Summit Gas
& Gear II-62
Praxair Distribution Acquires Kirk Welding Supply II-62
Hypertherm Snaps Up ESSE A II-62
Matheson Tri-Gas Acquires Cedar Rapids Welding Supply II-62
Jackson Products Acquires Changzhou Shine Science and Technology II-63
Airgas Snaps Up A&N Plant II-63
Matheson Tri-Gas Acquires Five Star Gas & Gear II-63
Airgas Takes Over TexAir Welding Supply II-64
Red Ball Oxygen Acquries WiN Welding Supply II-64
Valley National Gases Acquires Wolfenden II-64
Valley National Gases Acquires Portland Welding Supply II-64
Valley National Gases Takes Over Welding Division of N. H.
Bragg & Son's II-65
Airgas Snaps Up Pima Welding Supply II-65
Airgas Takes Over Smith Welding and Bayer Welding Supply II-65
Sorge's Welding Acquries Lemax Machine & Welding II-65
Arc Machines Acquires Assets and IP of Exel Orbital Systems II-66
Lincoln Electric Holdings Acquires Majority Stake in Brastak II-66
Marwitt Capital Acquires Majority Stake in Arc Machines II-66
Norco Acquires Majority Stake in Gases Plus II-66
Valley National Gases to Acquire L.P. Gas and General Welding
Supply II-67
Global Tech International and Weldmation to Establish Joint
Venture II-67
Lincoln Electric Holdings to Establish New Facility in
Nanjing, China II-68
Kobe Steel to Establish New Facility in China II-68
Sparky to Establish New Facility in Bulgaria II-68
Kemppi Group to Establish New Facilities in China II-68
ESAB Welding & Cutting Products Inks Agreement with MegaStir® II-69
BHEL to Expand Plant Capacity and Purchase New Welding Machines II-69
Nippon Steel to Provide Overlay Welding Technology to Tata Steel II-69
WEC Welding and Machining Bags a Major Contract from CalEnergy II-70
ARO Undergoes Rebranding to ARO Welding Technologies II-70
Praxair Distribution Acquires Mills Welding II-70
Airgas Takes Over Lehner & Martin II-70
OMRON Takes Over Majority Stake in Laserfront Technologies II-71
Thermadyne Divests South African Units to Destiny II-71
Praxair Distribution Takes Over Wilson Welding II-71
Lincoln Electric Acquires SPAWMET II-71
ESAB Inks Agreement with ABB’s Robotic Division II-72
Praxair Acquires Mittler Supply II-72
Illinois Tool Works Takes Over Tregaskiss Welding Products II-72
Lincoln Electric Acquires Nanjing Kuang Tai Welding II-72
IWKA AG Changes Name to KUKA AG II-73

10. FOCUS ON SELECT GLOBAL PLAYERS II-74
ACRO Automation Systems, Inc. (USA) II-74
ARCON Welding, LLC (USA) II-74
Banner Welder, Inc. (USA) II-74
Bohler Thyssen Welding USA, Inc. (USA) II-74
British Federal Ltd. (UK) II-74
Carl Cloos Welding Engineering GmbH (Germany) II-75
Daihen Corporation (Japan) II-75
Datalogic Automation S.r.l (Italy) II-75
Denyo Co., Ltd. (Japan) II-76
Dukane Corporation (USA) II-76
ESAB Holdings Ltd. (UK) II-76
ESAB India Limited (India) II-76
Fronius International GmbH (Austria) II-77
GSI Group, Inc. (USA) II-77
Gf Welding S.p.A (Italy) II-77
Ideal-Werk C+E Jungeblodt GmbH & Co. KG (Germany) II-77
IGM Robotersysteme AG (Austria) II-77
Illinois Tool Works, Inc. (USA) II-78
Bernard (USA) II-78
Hobart Brothers Company (USA) II-78
Miller Electric Mfg. Co. (USA) II-79
Orbitalum Tools GmbH (Germany) II-79
KUKA Aktiengesellschaft AG (Germany) II-79
KUKA Systems GmbH (Germany) II-79
Kemppi Oy (Finland) II-80
Kiefel GmbH (Germany) II-80
L’ Air Liquide S.A. (France) II-80
Oerlikon Welding (France) II-80
DUCTIL S.A. (Romania) II-81
Lincoln Electric Holdings, Inc. (USA) II-81
Miyachi Corporation (Japan) II-81
Motoman, Inc. (USA) II-81
Nelson Stud Welding, Inc. (USA) II-82
NIMAK GmbH (Germany) II-82
OBARA Group Inc. (Japan) II-82
Packard, Inc. (USA) II-83
Panasonic Welding Systems Co., Ltd (Japan) II-83
PRIMA INDUSTRIE S.p.A. (Italy) II-83
Rofin-Sinar Technologies, Inc. (USA) II-83
ROFIN-LASAG AG (Switzerland) II-84
Schlatter Holding AG (Switzerland) II-84
Schunk Sonosystems GmbH (Germany) II-84
Sonics & Materials, Inc. (USA) II-84
Soudronic AG (Switzerland) II-84
Svejsemaskinefabrikken Migatronic A/S (Denmark) II-85
Victor Technologies Group, Inc. (US) II-85

11. GLOBAL MARKET PERSPECTIVE II-86
Table 10: World Recent Past, Current & Future Analysis for
Welding Machinery by Geographic Region - US, Canada, Japan,
Europe, Asia-Pacific (excluding Japan), Middle East, and Latin
America Markets Independently Analyzed with Annual Sales
Figures in US$ Million for Years 2010 through 2018 (includes
corresponding Graph/Chart) II-86

Table 11: World Historic Review for Welding Machinery by
Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Middle East, and Latin America Markets
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2004 through 2009 (includes corresponding
Graph/Chart) II-87

Table 12: World 15-Year Perspective for Welding Machinery by
Geographic Region - Percentage Breakdown of Value Sales for
US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
Middle East, and Latin America Markets for Years 2004, 2011 &
2018 (includes corresponding Graph/Chart) II-88

Table 13: World Recent Past, Current & Future Analysis for Arc
Welding Machinery by Geographic Region - US, Canada, Japan,
Europe, Asia-Pacific (excluding Japan), Middle East, and Latin
America Markets Independently Analyzed with Annual Sales
Figures in US$ Million for Years 2010 through 2018 (includes
corresponding Graph/Chart) II-89

Table 14: World Historic Review for Arc Welding Machinery by
Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Middle East, and Latin America Markets
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2004 through 2009 (includes corresponding
Graph/Chart) II-90

Table 15: World 15-Year Perspective for Arc Welding Machinery
by Geographic Region - Percentage Breakdown of Value Sales for
US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
Middle East, and Latin America Markets for Years 2004, 2011 &
2018 (includes corresponding Graph/Chart) II-91

Table 16: World Recent Past, Current & Future Analysis for Gas
Welding & Cutting Machinery by Geographic Region - US, Canada,
Japan, Europe, Asia-Pacific (excluding Japan), Middle East,
and Latin America Markets Independently Analyzed with Annual
Sales Figures in US$ Million for Years 2010 through 2018
(includes corresponding Graph/Chart) II-92

Table 17: World Historic Review for Gas Welding & Cutting
Machinery by Geographic Region - US, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), Middle East, and Latin America
Markets Independently Analyzed with Annual Sales Figures in
US$ Million for Years 2004 through 2009 (includes
corresponding Graph/Chart) II-93

Table 18: World 15-Year Perspective for Gas Welding & Cutting
Machinery by Geographic Region - Percentage Breakdown of Value
Sales for US, Canada, Japan, Europe, Asia-Pacific (excluding
Japan), Middle East, and Latin America Markets for Years 2004,
2011 & 2018 (includes corresponding Graph/Chart) II-94

Table 19: World Recent Past, Current & Future Analysis for
Resistance Welding Machinery by Geographic Region - US,
Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle
East, and Latin America Markets Independently Analyzed with
Annual Sales Figures in US$ Million for Years 2010 through
2018 (includes corresponding Graph/Chart) II-95

Table 20: World Historic Review for Resistance Welding
Machinery by Geographic Region - US, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), Middle East, and Latin America
Markets Independently Analyzed with Annual Sales Figures in
US$ Million for Years 2004 through 2009 (includes
corresponding Graph/Chart) II-96

Table 21: World 15-Year Perspective for Resistance Welding
Machinery by Geographic Region - Percentage Breakdown of Value
Sales for US, Canada, Japan, Europe, Asia-Pacific excluding
Japan), Middle East, and Latin America Markets for Years 2004,
2011 & 2018 (includes corresponding Graph/Chart) II-97

Table 22: World Recent Past, Current & Future Analysis for
Laser Welding Machinery by Geographic Region - US, Canada,
Japan, Europe, Asia-Pacific (excluding Japan), Middle East,
and Latin America Markets Independently Analyzed with Annual
Sales Figures in US$ Million for Years 2010 through 2018
(includes corresponding Graph/Chart) II-98

Table 23: World Historic Review for Laser Welding Machinery by
Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Middle East, and Latin America Markets
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2004 through 2009 (includes corresponding
Graph/Chart) II-99

Table 24: World 15-Year Perspective for Laser Welding
Machinery by Geographic Region - Percentage Breakdown of
Dollar Sales for US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Middle East, and Latin America Markets for
Years 2004, 2011 & 2018 (includes corresponding Graph/Chart) II-100

Table 25: World Recent Past, Current & Future Analysis for
Ultrasonic Welding Machinery by Geographic Region - US,
Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle
East, and Latin America Markets Independently Analyzed with
Annual Sales Figures in US$ Million for Years 2010 through
2018 (includes corresponding Graph/Chart) II-101

Table 26: World Historic Review for Ultrasonic Welding
Machinery by Geographic Region - US, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), Middle East, and Latin America
Markets Independently Analyzed with Annual Sales Figures in
US$ Million for Years 2004 through 2009 (includes
corresponding Graph/Chart) II-102

Table 27: World 15-Year Perspective for Ultrasonic Welding
Machinery by Geographic Region - Percentage Breakdown of
Dollar Sales for US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Middle East, and Latin America Markets for
Years 2004, 2011 & 2018 (includes corresponding Graph/Chart) II-103

Table 28: World Recent Past, Current & Future Analysis for
Other Welding Machinery by Geographic Region - US, Canada,
Japan, Europe, Asia-Pacific (excluding Japan), Middle East,
and Latin America Markets Independently Analyzed with Annual
Sales Figures in US$ Million for Years 2010 through 2018
(includes corresponding Graph/Chart) II-104

Table 29: World Historic Review for Other Welding Machinery by
Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Middle East, and Latin America Markets
Independently Analyzed with Annual Sales Figures in US$
Million for Years 2004 through 2009 (includes corresponding
Graph/Chart) II-105

Table 30: World 15-Year Perspective for Other Welding
Machinery by Geographic Region - Percentage Breakdown of Value
Sales for US, Canada, Japan, Europe, Asia-Pacific (excluding
Japan), Middle East, and Latin America Markets for Years 2004,
2011 & 2018 (includes corresponding Graph/Chart) II-106

Table 31: World Recent Past, Current & Future Analysis for
Electrodes, Components, Apparatus & Accessories for Welding
Machinery by Geographic Region - US, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), Middle East, and Latin America
Markets Independently Analyzed with Annual Sales Figures in
US$ Million for Years 2010 through 2018 (includes
corresponding Graph/Chart) II-107

Table 32: World Historic Review for Electrodes, Components,
Apparatus & Accessories for Welding Machinery by Geographic
Region - US, Canada, Japan, Europe, Asia-Pacific (excluding
Japan), Middle East, and Latin America Markets Independently
Analyzed with Annual Sales Figures in US$ Million for Years
2004 through 2009 (includes corresponding Graph/Chart) II-108

Table 33: World 15-Year Perspective for Electrodes,
Components, Apparatus & Accessories for Welding Machinery by
Geographic Region - Percentage Breakdown of Value Sales for
US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
Latin America and Middle East Markets for Years 2004, 2011 &
2018 (includes corresponding Graph/Chart) II-109


III. MARKET

1. THE UNITED STATES III-1
A.Market Analysis III-1
Welding Equipment Market - An Overview III-1
Product Segment Analysis III-1
Major End Users of Welding Machinery III-2
Competitive Landscape III-2
Table 34: Leading Players in the US Welding Machinery
Market (2011): Percentage Share Breakdown of Value Sales
for Lincoln Electric, ITW, Thermadyne*, ESAB, and Others
(includes corresponding Graph/Chart) III-2
Trade Statistics III-2
Table 35: US Market for Soldering, Brazing or Welding and
Gas-Operated Surface Tempering Equipment (2011): Percentage
Share Breakdown of Export Value by Destination Country
(includes corresponding Graph/Chart) III-2

Table 36: US Market for Soldering, Brazing or Welding and
Gas-Operated Surface Tempering Machines (2011): Percentage
Share Breakdown of Import Value by Country (includes
corresponding Graph/Chart) III-3
Product Innovations/Introductions III-3
Strategic Corporate Development III-6
Key Players III-7
B.Market Analytics III-11
Table 37: US Recent Past, Current & Future Analysis for
Welding Machinery by Product Segment - Arc Welding
Machinery, Gas Welding & Cutting Machinery, Resistance
Welding Machinery, Laser Welding Machinery, Ultrasonic
Welding Machinery, Other Welding Machinery, and Electrodes,
Components, Apparatus & Accessories Markets Independently
Analyzed with Annual Sales Figures in US$ Million for Years
2010 through 2018 (includes corresponding Graph/Chart) III-11

Table 38: US Historic Review for Welding Machinery by
Product Segment - Arc Welding Machinery, Gas Welding &
Cutting Machinery, Resistance Welding Machinery, Laser
Welding Machinery, Ultrasonic Welding Machinery, Other
Welding Machinery, and Electrodes, Components, Apparatus &
Accessories Markets Independently Analyzed with Annual Sales
Figures in US$ Million for Years 2004 through 2009 (includes
corresponding Graph/Chart) III-12

Table 39: US 15-Year Perspective for Welding Machinery by
Product Segment - Percentage Breakdown of Value Sales for
Arc Welding Machinery, Gas Welding & Cutting Machinery,
Resistance Welding Machinery, Laser Welding Machinery,
Ultrasonic Welding Machinery, Other Welding Machinery, and
Electrodes, Components, Apparatus & Accessories Markets for
Years 2004, 2011 & 2018 (includes corresponding Graph/Chart) III-13

2. CANADA III-14
A.Market Analysis III-14
Outlook III-14
Major End-Use Markets III-14
Industrial Lasers for Cutting/Drilling/Welding III-14
Trade Statistics III-15
Table 40: Canadian Market for Soldering, Brazing or Welding
and Gas-Operated Surface Tempering Equipment (2011):
Percentage Breakdown of Export Value by Destination Country
(includes corresponding Graph/Chart) III-15

Table 41: Canadian Market for Soldering, Brazing or Welding
and Gas-Operated Surface Tempering Equipment (2011):
Percentage Share Breakdown of Import Value by Country
(includes corresponding Graph/Chart) III-15
B.Market Analytics III-16
Table 42: Canadian Recent Past, Current & Future Analysis
for Welding Machinery by Product Segment - Arc Welding
Machinery, Gas Welding & Cutting Machinery, Resistance
Welding Machinery, Laser Welding Machinery, Ultrasonic
Welding Machinery, Other Welding Machinery, and Electrodes,
Components, Apparatus & Accessories Markets Independently
Analyzed with Annual Sales Figures in US$ Million for Years
2010 through 2018 (includes corresponding Graph/Chart) III-16

Table 43: Canadian Historic Review for Welding Machinery by
Product Segment - Arc Welding Machinery, Gas Welding &
Cutting Machinery, Resistance Welding Machinery, Laser
Welding Machinery, Ultrasonic Welding Machinery, Other
Welding Machinery, and Electrodes, Components, Apparatus &
Accessories Markets Independently Analyzed with Annual Sales
Figures in US$ Million for Years 2004 through 2009 (includes
corresponding Graph/Chart) III-17

Table 44: Canadian 15-Year Perspective for Welding Machinery
by Product Segment - Percentage Breakdown of Value Sales for
Arc Welding Machinery, Gas Welding & Cutting Machinery,
Resistance Welding Machinery, Laser Welding Machinery,
Ultrasonic Welding Machinery, Other Welding Machinery, and
Electrodes, Components, Apparatus & Accessories Markets for
Years 2004, 2011 & 2018 (includes corresponding Graph/Chart) III-18

3. JAPAN III-19
A.Market Analysis III-19
Outlook III-19
Product Innovations/Introductions III-19
Key Players III-19
B.Market Analytics III-21
Table 45: Japanese Recent Past, Current & Future Analysis
for Welding Machinery by Product Segment - Arc Welding
Machinery, Gas Welding & Cutting Machinery, Resistance
Welding Machinery, Laser Welding Machinery, Ultrasonic
Welding Machinery, Other Welding Machinery, and Electrodes,
Components, Apparatus & Accessories Markets Independently
Analyzed with Annual Sales Figures in US$ Million for Years
2010 through 2018 (includes corresponding Graph/Chart) III-21

Table 46: Japanese Historic Review for Welding Machinery by
Product Segment - Arc Welding Machinery, Gas Welding &
Cutting Machinery, Resistance Welding Machinery, Laser
Welding Machinery, Ultrasonic Welding Machinery, Other
Welding Machinery, and Electrodes, Components, Apparatus &
Accessories Markets Independently Analyzed with Annual Sales
Figures in US$ Million for Years 2004 through 2009 (includes
corresponding Graph/Chart) III-22

Table 47: Japanese 15-Year Perspective for Welding Machinery
by Product Segment - Percentage Breakdown of Value Sales for
Arc Welding Machinery, Gas Welding & Cutting Machinery,
Resistance Welding Machinery, Laser Welding Machinery,
Ultrasonic Welding Machinery, Other Welding Machinery, and
Electrodes, Components, Apparatus & Accessories Markets for
Years 2004, 2011 & 2018 (includes corresponding Graph/Chart) III-23

4. EUROPE III-24
A.Market Analysis III-24
Outlook III-24
Market Overview III-24
Energy Sector Continues to Spur Demand for Welding Equipment
and Consumables III-24
Automation Trends Bodes Well for Equipment Makers III-25
Major End-Use Markets III-25
Energy Sector Boosts Demand for Welding Consumables in Europe III-25
Demand for Welding Consumables Set to Further Grow III-26
Customer Relation - Key to Manufacturer’s Existence and
Success III-26
Rising Raw Material Costs and Competition from Asia - Major
Challenges III-26
Market Players - Challenges III-27
Laser Welding Equipment Market III-27
Table 48: Laser Welding Machinery Market in the European
Union (2012E): Percentage Breakdown by End-Use Segment -
Automotive, Light Industrial Manufacturing, Electronics and
Medical Equipment, Heavy Industry and Aerospace, and Others
(includes corresponding Graph/Chart) III-28
B.Market Analytics III-29
Table 49: European Recent Past, Current & Future Analysis
for Welding Machinery by Geographic Region - France,
Germany, Italy, UK, Spain, Russia, and Rest of Europe
Markets Independently Analyzed with Annual Sales Figures in
US$ Million for Years 2010 through 2018 (includes
corresponding Graph/Chart) III-29

Table 50: European Historic Review for Welding Machinery by
Geographic Region - France, Germany, Italy, UK, Spain,
Russia, and Rest of Europe Markets Independently Analyzed
with Annual Sales Figures in US$ Million for Years 2004
through 2009 (includes corresponding Graph/Chart) III-30

Table 51: European 15-Year Perspective for Welding Machinery
by Geographic Region - Percentage Breakdown of Value Sales
for France, Germany, Italy, UK, Spain, Russia, and Rest of
Europe Markets for Years 2004, 2011 & 2018 (includes
corresponding Graph/Chart) III-31

Table 52: European Recent Past, Current & Future Analysis
for Welding Machinery by Product Segment - Arc Welding
Machinery, Gas Welding & Cutting Machinery, Resistance
Welding Machinery, Laser Welding Machinery, Ultrasonic
Welding Machinery, Other Welding Machinery, and Electrodes,
Components, Apparatus & Accessories Markets Independently
Analyzed with Annual Sales Figures in US$ Million for Years
2010 through 2018 (includes corresponding Graph/Chart) III-32

Table 53: European Historic Review for Welding Machinery by
Product Segment - Arc Welding Machinery, Gas Welding &
Cutting Machinery, Resistance Welding Machinery, Laser
Welding Machinery, Ultrasonic Welding Machinery, Other
Welding Machinery, and Electrodes, Components, Apparatus &
Accessories Markets Independently Analyzed with Annual Sales
Figures in US$ Million for Years 2004 through 2009 (includes
corresponding Graph/Chart) III-33

Table 54: European 15-Year Perspective for Welding Machinery
by Product Segment - Percentage Breakdown of Value Sales for
Arc Welding Machinery, Gas Welding & Cutting Machinery,
Resistance Welding Machinery, Laser Welding Machinery,
Ultrasonic Welding Machinery, Other Welding Machinery, and
Electrodes, Components, Apparatus & Accessories Markets for
Years 2004, 2011 & 2018 (includes corresponding Graph/Chart) III-34

4a. FRANCE III-35
A.Market Analysis III-35
Outlook III-35
Product Innovations/Introductions III-35
Strategic Corporate Developments III-36
Key Players III-36
B.Market Analytics III-37
Table 55: French Recent Past, Current & Future Analysis for
Welding Machinery by Product Segment - Arc Welding
Machinery, Gas Welding & Cutting Machinery, Resistance
Welding Machinery, Laser Welding Machinery, Ultrasonic
Welding Machinery, Other Welding Machinery, and Electrodes,
Components, Apparatus & Accessories Markets Independently
Analyzed with Annual Sales Figures in US$ Million for Years
2010 through 2018 (includes corresponding Graph/Chart) III-37

Table 56: French Historic Review for Welding Machinery by
Product Segment - Arc Welding Machinery, Gas Welding &
Cutting Machinery, Resistance Welding Machinery, Laser
Welding Machinery, Ultrasonic Welding Machinery, Other
Welding Machinery, and Electrodes, Components, Apparatus &
Accessories Markets Independently Analyzed with Annual Sales
Figures in US$ Million for Years 2004 through 2009 (includes
corresponding Graph/Chart) III-38

Table 57: French 15-Year Perspective for Welding Machinery
by Product Segment - Percentage Breakdown of Value Sales for
Arc Welding Machinery, Gas Welding & Cutting Machinery,
Resistance Welding Machinery, Laser Welding Machinery,
Ultrasonic Welding Machinery, Other Welding Machinery, and
Electrodes, Components, Apparatus & Accessories Markets for
Years 2004, 2011 & 2018 (includes corresponding Graph/Chart) III-39

4b. GERMANY III-40
A.Market Analysis III-40
Outlook III-40
Laser Welding Equipment Market: An Insight III-40
Automobile Sector - Unexplored Potential III-40
Advanced Research Aiding Market Growth III-40
End-Use Sector Analysis III-41
Strategic Corporate Development III-41
Key Players III-41
B.Market Analytics III-44
Table 58: German Recent Past, Current & Future Analysis for
Welding Machinery by Product Segment - Arc Welding
Machinery, Gas Welding & Cutting Machinery, Resistance
Welding Machinery, Laser Welding Machinery, Ultrasonic
Welding Machinery, Other Welding Machinery, and Electrodes,
Components, Apparatus & Accessories Markets Independently
Analyzed with Annual Sales Figures in US$ Million for Years
2010 through 2018 (includes corresponding Graph/Chart) III-44

Table 59: German Historic Review for Welding Machinery by
Product Segment - Arc Welding Machinery, Gas Welding &
Cutting Machinery, Resistance Welding Machinery, Laser
Welding Machinery, Ultrasonic Welding Machinery, Other
Welding Machinery, and Electrodes, Components, Apparatus &
Accessories Markets Independently Analyzed with Annual Sales
Figures in US$ Million for Years 2004 through 2009 (includes
corresponding Graph/Chart) III-45

Table 60: German 15-Year Perspective for Welding Machinery
by Product Segment - Percentage Breakdown of Value Sales for
Arc Welding Machinery, Gas Welding & Cutting Machinery,
Resistance Welding Machinery, Laser Welding Machinery,
Ultrasonic Welding Machinery, Other Welding Machinery, and
Electrodes, Components, Apparatus & Accessories Markets for
Years 2004, 2011 & 2018 (includes corresponding Graph/Chart) III-46

4c. ITALY III-47
A.Market Analysis III-47
Outlook III-47
Key Players III-47
B.Market Analytics III-48
Table 61: Italian Recent Past, Current & Future Analysis for
Welding Machinery by Product Segment - Arc Welding
Machinery, Gas Welding & Cutting Machinery, Resistance
Welding Machinery, Laser Welding Machinery, Ultrasonic
Welding Machinery, Other Welding Machinery, and Electrodes,
Components, Apparatus & Accessories Markets Independently
Analyzed with Annual Sales Figures in US$ Million for Years
2010 through 2018 (includes corresponding Graph/Chart) III-48

Table 62: Italian Historic Review for Welding Machinery by
Product Segment - Arc Welding Machinery, Gas Welding &
Cutting Machinery, Resistance Welding Machinery, Laser
Welding Machinery, Ultrasonic Welding Machinery, Other
Welding Machinery, and Electrodes, Components, Apparatus &
Accessories Markets Independently Analyzed with Annual Sales
Figures in US$ Million for Years 2004 through 2009 (includes
corresponding Graph/Chart) III-49

Table 63: Italian 15-Year Perspective for Welding Machinery
by Product Segment - Percentage Breakdown of Value Sales for
Arc Welding Machinery, Gas Welding & Cutting Machinery,
Resistance Welding Machinery, Laser Welding Machinery,
Ultrasonic Welding Machinery, Other Welding Machinery, and
Electrodes, Components, Apparatus & Accessories Markets for
Years 2004, 2011 & 2018 (includes corresponding Graph/Chart) III-50

4d. THE UNITED KINGDOM III-51
A.Market Analysis III-51
Outlook III-51
Market Trends III-51
Growing Demand for Laser Welding Equipment Market III-51
High Potential for Laser Welding in Automotive and
Aerospace Industries III-51
Future Prospects of Growth III-52
Strategic Corporate Developments III-52
Key Players III-52
B.Market Analytics III-54
Table 64: UK Recent Past, Current & Future Analysis for
Welding Machinery by Product Segment - Arc Welding
Machinery, Gas Welding & Cutting Machinery, Resistance
Welding Machinery, Laser Welding Machinery, Ultrasonic
Welding Machinery, Other Welding Machinery, and Electrodes,
Components, Apparatus & Accessories Markets Independently
Analyzed with Annual Sales Figures in US$ Million for Years
2010 through 2018 (includes corresponding Graph/Chart) III-54

Table 65: UK Historic Review for Welding Machinery by
Product Segment - Arc Welding Machinery, Gas Welding &
Cutting Machinery, Resistance Welding Machinery, Laser
Welding Machinery, Ultrasonic Welding Machinery, Other
Welding Machinery, and Electrodes, Components, Apparatus &
Accessories Markets Independently Analyzed with Annual Sales
Figures in US$ Million for Years 2004 through 2009 (includes
corresponding Graph/Chart) III-55

Table 66: UK 15-Year Perspective for Welding Machinery by
Product Segment - Percentage Breakdown of Value Sales for
Arc Welding Machinery, Gas Welding & Cutting Machinery,
Resistance Welding Machinery, Laser Welding Machinery,
Ultrasonic Welding Machinery, Other Welding Machinery, and
Electrodes, Components, Apparatus & Accessories Markets for
Years 2004, 2011 & 2018 (includes corresponding Graph/Chart) III-56

4e. SPAIN III-57
Market Analysis III-57
Table 67: Spanish Recent Past, Current & Future Analysis for
Welding Machinery by Product Segment - Arc Welding
Machinery, Gas Welding & Cutting Machinery, Resistance
Welding Machinery, Laser Welding Machinery, Ultrasonic
Welding Machinery, Other Welding Machinery, and Electrodes,
Components, Apparatus & Accessories Markets Independently
Analyzed with Annual Sales Figures in US$ Million for Years
2010 through 2018 (includes corresponding Graph/Chart) III-57

Table 68: Spanish Historic Review for Welding Machinery by
Product Segment - Arc Welding Machinery, Gas Welding &
Cutting Machinery, Resistance Welding Machinery, Laser
Welding Machinery, Ultrasonic Welding Machinery, Other
Welding Machinery, and Electrodes, Components, Apparatus &
Accessories Markets Independently Analyzed with Annual Sales
Figures in US$ Million for Years 2004 through 2009 (includes
corresponding Graph/Chart) III-58

Table 69: Spanish 15-Year Perspective for Welding Machinery
by Product Segment - Percentage Breakdown of Value Sales for
Arc Welding Machinery, Gas Welding & Cutting Machinery,
Resistance Welding Machinery, Laser Welding Machinery,
Ultrasonic Welding Machinery, Other Welding Machinery, and
Electrodes, Components, Apparatus & Accessories Markets for
Years 2004, 2011 & 2018 (includes corresponding Graph/Chart) III-59

4f. RUSSIA III-60
A.Market Analysis III-60
Overview III-60
Foreign Companies Continue to Eat into Domestic
Manufacturers’ Market Share III-60
B.Mark