Welding Consumables Market Scope
The welding consumables are the ancillary products which are used for welding processes. The welding consumables market is directly related to the growth of different end users such as automotive and construction industries. The equipment is applicable in various countries to emphasize clean energy and low cost productivity techniques. It has been observed that increasing technology advancements by the key players in welding automation coupled with mergers and acquisition is expected to flourish the global welding consumables market in future. The manufacturers of welding consumables are expanding their businesses in Asia-Pacific countries as these countries are focused on foreign direct investment.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Colfax Corporation (United States), Fronius International GmbH (Austria), Hyundai Welding Co., Ltd. (Singapore), Illinois Tool Works Inc. (United States), Kemppi Oy. (Finland), Obara Corporation (Japan), Panasonic Corporation (Japan), The Lincoln Electric Company (United States), Tianjin Bridge Welding Materials Group Co., Ltd. (China), Voestalpine Bhler Welding GmbH (Germany), Praxair, Inc. (United Kingdom), Voestalpine AG (Austria) and The Linde Group (Ireland) |
CAGR | 5.9% |
"According to AMA, the Global Welding Consumables market is expected to see growth rate of 5.9% and may see market size of USD19216.0 Million by 2027."The welding consumables market offers competitive advantages by using point to use welding control in shipyard. This product offers better quality with remote control access with an affordable cost. The technology solution help to meet the customer demands. Research Analyst at AMA estimates that United States and United Kingdom Manufacturers will contribute to the maximum growth of Global Welding Consumables market throughout the predicted period.
Colfax Corporation (United States), Fronius International GmbH (Austria), Hyundai Welding Co., Ltd. (Singapore), Illinois Tool Works Inc. (United States), Kemppi Oy. (Finland), Obara Corporation (Japan), Panasonic Corporation (Japan), The Lincoln Electric Company (United States), Tianjin Bridge Welding Materials Group Co., Ltd. (China), Voestalpine Bhler Welding GmbH (Germany), Praxair, Inc. (United Kingdom), Voestalpine AG (Austria) and The Linde Group (Ireland) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Air Products and Chemicals, Inc. (United States), EWM AG (Germany), Air Liquide S.A. (France), MESSER Group GmbH (Germany) and Sandvik Materials Technology (Sweden).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Welding Consumables market by Type , by Application (Aerospace & Defense, Automotive & Transportation, Construction, Energy, Heavy Machinery, Shipbuilding and Process & Others) and Region with country level break-up.
On the basis of geography, the market of Welding Consumables has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2021. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In January 2018, ESAB acquired Sandvik welding. This acquisition is beneficial in expansion of production unit at Scranton, Pennsylvania, Sandviken and Sweden. It can also deliver better service to customers and enhanced portfolio of stainless steel and nickel filter metals.
According to Construction Product Regulation (CPR), it’s denoted that, the manufacturer of welding consumables must be certified with Fabric Production Certificate and required ABC-CPR for better quality system”.
Influencing Trend:
Collaboration and Tie Up Of Leading Players. and Upsurge demand due digitization of industries
Market Growth Drivers:
Increase Demand of Welding Automation Technology in Fabrication. and High Labor Cost and Scarcity of Professional Labor Leads to Demand of Welding Automation Technology.
Challenges:
Adverse Environmental Impact Caused Due to Welding Consumables. and The Cost of Welding Consumables Product are High.
Restraints:
Slow Adoption of Welding Automation Technology in Developing Countries. and Stringent Growth of Defense & Aerospace and Shipbuilding Industries Hamper the Welding Consumables Market.
Opportunities:
New Safety Features in Automotive Offers a Great Opportunity to New Welding Techniques. and Rise in Foreign Direct Investments in Construction and Other Industries.
Key Target Audience
Welding Consumables Manufacturers, Welding Consumables Traders, End-Use Market Participants of Different Segments of Welding Consumables, Government and Research Organizations, Associations and Industrial Bodies, Research and Consulting Firms, R&D Institutions and Others