The “Global Welding Consumables Market, by Welding Consumables (Stick Electrodes, Solid Wires, Flux Cored Wires, SAW Wires & Fluxes And Others), by Welding Technique (Arc Welding, Resistance Welding, Oxy-Fuel Welding , Laser-Beam Welding, Ultrasonic Welding and Others), by Application (Automotive & Transportation , Building & Construction, Marine Applications and Others), and by Geography (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa) - Global Forecast to 2027”, is expected to be valued at US$ 21,185.5 million by 2027, witnessing a CAGR of 5.5 % during the forecast period (2019-2027), as highlighted in a report published by . Overview Welding is fabrication or sculptural process that is used for joining metals with the help of melt parts together and allowing them to cool causing fusion. More importantly it is different from lower temperature metal-joining techniques such as soldering and brazing, in which metal is not melted. On the basis of welding technique, the market is segmented into resistance welding, laser-beam welding, arc welding, and oxy-fuel welding. On the basis of application, the market is segmented into building & construction, marine applications, automobile & and transportations, and others. The global welding consumables market was valued at US$ 13,118.9 Mn in 2018 and is expected to grow at a CAGR of 5.5% during the forecasted period (2019-2027) Market Driver Increasing demand for welding consumables from emerging economies is expected to drive the global welding consumables market growth during the forecast period Emerging economies such as South Africa, China, and India have shown high demand for welding consumables in the recent past. Various end-use industries such as building & construction, automobile, transportation, steel structure, and manufacturing are exhibiting significant growth in these countries. Furthermore, growing investment in oil & natural gas industry is expected to boost the demand for welding products in India. Proactive initiatives by government agencies such as ‘Make in India’ by the Indian Government have increased foreign direct investment (FDI) in various manufacturing sectors in India, which in turn, is expected to drive the global welding consumables market growth during the forecast period. Market Opportunity High demand for solar energy from developed countries is expected to offer lucrative growth opportunities for market players in the near future Solar energy has emerged as reliable substitute to conventional energy source. Since the governments of various countries have taken initiatives to curb carbon emission, it has accelerated the adoption of solar energy in different sectors such as residential and commercial. Solar energy has been adopted for electricity generation, vehicles, battery recharging, and more. Such prevalent use of solar energy is expected to offer significant growth opportunities for market players in the near future. Market Restraint Inadequate investments in rigorous training and development of local labors are expected to restrain the global welding consumables market growth during the forecast period Welding is a precision job which requires skilled labors with rigorous training. Certain welding practices such as laser-beam welding and ultrasonic welding requires skilled workers with ample experience to perform the job. However, inadequate investments in training and development of local labors, especially in emerging economies has led to shortage skilled workforce. This, in turn, is expected to restrain the market growth over the forecast period. Market Trends
Key suppliers of welding technologies and consumable are focused on product differentiation through innovation in technologies and processes. For sentence, the Lincoln Electric has adopted Surface Tension Transfer (STT) welding, which provides good weld at low heat input. Moreover, in 2014, Fronius International GmbH introduced TPS 600i, a high performance manual welding product, which is applicable to heavy steel construction, thick wires welding, and repair works. In 2014, the same company introduced Air Vintage 600 SD and Vantage 600 SD engine-driven welders. These products are typically used for pipe welding, mining, and general construction.
Major market players are involved in mergers and acquisitions, in order to enhance their global market presence. For instance, in 2012, Colfax Corporation acquired ESAB, a global manufacturer and supplier of welding and cutting products, consumables and equipment, to increase its presence in the lucrative global welding consumables market. Competitive Section Key companies operating in the global welding consumables market are voestalpine AG, Arcon Welding Equipment, Colfax Corporation, Kemppi Oy, The Lincoln Electric Company, Tianjin Bridge Welding Materials Co., Ltd., Air Liquide, Fronius International GmbH, Hyundai Welding Co., Ltd., Denyo Co., Ltd., Obara Corporation, Illinois Tool Works Inc., and Panasonic Corporation. Key Development
Segmentation Market Taxonomy: