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Western European Metallic Welding Equipment Markets
Frost & Sullivan, Nov 2003
Competitive Prices and Product Differentiation Should Revive a Mature Market
Competitively priced high-end equipment with value-added features are expected to be the key to penetrating the mature Western European metallic welding and consumables market and offsetting stagnating demand and stiff competition. Since the market is flooded with similar-quality welding equipment, improving the price-performance ratio should allow manufacturers to differentiate their products. For example, significant improvements in performance, efficiency and power output of laser cutting and welding equipment has widened the range of applications for the technology. Similarly, customized equipment with improved product functionalities enable participants to enter niche markets with the opportunity to gain higher premiums.
This Frost & Sullivan analysis comprehensively examines the Western European metallic welding equipment and consumables market and various product segments such as arc welding, resistance welding, laser cutting and welding, gas cutting and welding, welding consumables, welding robots and other electric welding equipment. The study presents extensive information on the latest market trends, drivers and restraints across the main geographic regions and end-user segments. Strategic recommendations are also featured to assist participants in crafting a focussed marketing plan.
Welding Automation and Focused Service Offerings Present Opportunities for Future Growth
The demand for easy-to-use automated welding solutions is intensifying as high labour costs, a lack of skilled welders and the need for high precision welding drive a shift towards welding automation. This allows welding equipment manufacturers to build closer working partnerships with customers as well as expand revenues, since the capital cost of installing automated equipment is higher, says the analyst.
Integrating services into a unique product portfolio is also critical to sustaining market share. Strategies based on retaining customers reduce costs significantly and generate opportunities to up-sell and cross-sell. Installation, commissioning, maintenance, repairs and training must be packaged with welding equipment to strengthen customer relations and increase revenues.
Strategic Alliances Stimulate Market Penetration and Long-term Success
The danger of end-users' adoption of alternative mechanical joining technologies combined with the prolonged economic downturn, means manufacturers must focus on long term strategies that manoeuvre their business into a position of sustainable growth, notes the analyst. Since the current customer base remains established, acquiring customers from the competition may be the primary means to increase market penetration.
As raising market share becomes increasingly difficult, acquisitions and mergers between large competing companies is expected to streamline operations and magnify market standing. Leveraging mutual benefits complements the existing product and service offering while creating opportunities to widen market penetration. Smaller manufacturers may also opt for alliances with larger competitors to harness the expertise, technical know-how and resources required to sustain in the challenging environment.
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