Welding market growth muted in Q3, but sentiment solid
Welding market growth muted in Q3, but sentiment solid
How did the third quarter of 2024 shape up in welding markets in North America?
There was a mix of signals on view, reflecting a blend of moderating growth and cautious optimism among gas and welding distributors. But conditions were robust by most measures, following on from a solid but somewhat mixed 2023 and a similarly solid first half.
Pricing in the third quarter was higher for welding hardgoods (up 1.3% over the same period a year earlier) and gases (up 2.3% on a year earlier), but both these increases in pricing marked a softening compared with the year-on-year position at Q2. Hardgoods sales volumes, meanwhile, were up by 2.4% on the same quarter the prior year, and gases volumes grew by 6.1%. These figures were similar to the position in relative terms to that registered in the second quarter.
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