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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