Welding hardgoods and industrial gas revenues improved in the fourth quarter (Q4) of 2020 and growth is expected to pick up in Q1 this year, according to the latest results of the Baird/gasworld Welding and Industrial Gas Survey.
The latest results from respondents showed a clear sequential uptick despite challenges presented by the coronavirus (Covid-19) pandemic, with the survey revealing expectations that hardgoods revenue will increase 1.8% in Q1 2021 and 4.2% for the full year, with gas sales expected to increase 3.4% in Q1 and by +6.2% for the full year 2021.
One respondent said, “Although we were able to adjust to the Covid impact in 2020 it is not assured that we can do the same in 2021. I also worry about the supply chain of equipment, once the demand surge happens I expect a big surge in demand all at once.”
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