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Strategic Analysis of the Welding Equipment Market in India
Frost & Sullivan, Dec 2009, Pages: 105
This research service provides an insight to the Indian welding equipment market for varied end-user segments.
This Frost & Sullivan research service titled Strategic Analysis of the Welding Equipment Market in India provides total market values, percentage of revenues by end users for welding equipment and product segmentation and forecasts for end-user industries including automotive, energy, shipbuilding, construction and heavy machinery, among others. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: arc welding equipment, resistance welding equipment, gas and other welding equipment and laser welding equipment.
Market Overview
Energy, Shipbuilding and Civil Construction to Boost Long-term Expansion of Indian Welding Market
The Indian welding market is dominated by the use of manual welding equipment. However, this situation is expected to change as several end-user industries have started demanding automated equipment to support higher productivity. Robust expansion of the Indian shipbuilding, construction and energy, particularly wind power sectors will underline strong growth of the Indian welding market over the medium- and long-term. “While the financial meltdown has adversely affected most end user industries for welding equipment in India, energy, construction and shipbuilding sectors have, to a large extent, been recession-proof and have been generating moderate demand,” notes the analyst of this research. “A key driver boosting market revenues has also been the gradual move from manual to automatic and semi-automatic welding equipment.”
The welding industry in India has generally been low technology with infrequent innovation. However, the adoption of automatic and the semi-automatic welding systems has been rising in recent years. At the same time, the recession and reduced budgets have underlined the continued popularity of economical, manual techniques. Enhanced foreign direct investment (FDI) equity inflow in India has supported projects in the oil and gas sector, offshore activities, aerospace and heavy machinery industries. Several foreign automobile companies have established their manufacturing base in India. Such trends have had a positive impact on the uptake of welding equipment and consumables. However, the recession has affected the flow of FDI into the country. Hence, demand for welding equipment in India is expected to decline over the short- term. Although global steel demand slumped in the past year, India’s steel market has experienced nearly 10 per cent growth. The spiralling demand for steel is promoting the use of innovative, state-of-the-art uses of steel while triggering the uptake of high volumes of welding equipment.
Enhanced Service Portfolios and Focus on Increased Penetration into New and Existing End-user Industries to Sustain Market Momentum
One of the major challenges faced by the local market in India is the substantial import of welding equipment. With expanded imports, the market share of domestic participants is continually declining in several industries, especially automotive and transportation, shipbuilding and the white appliances. Another challenge faced by Indian welding equipment manufacturers is the unorganised sector that currently occupies close to 50 to 55 per cent of the market. This sector is growing due to the lack of clear specifications and tedious approval process. “To be competitive, welding manufacturers need to provide standardised goods with a focus on product differentiation,” advises the analyst. “With lower profit margins and intensifying competition, manufacturers have to improve on their service, performance and delivery.”
Another challenge will be to optimally integrate distributors and dealers within a complete solution model. The technical capabilities of distributors will be vital in any solution-oriented strategy. With advanced technologies and sophisticated machines, it is critical that there be trained experts in key identified regions. “Manufacturers should improve their service portfolio and broaden their market reach,” concludes the analyst. “They should increase their penetration into new end user industries such as wind and nuclear power and traditional end user industries such as fabrication and automotives as well as explore opportunities in other general industries which have only lately moved to higher automation levels.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Product:
- Arc welding equipment
- Resistance welding equipment
- Gas and other welding equipment
- Laser welding equipment
By End User:
- Automotive
- Construction
- Heavy machinery
- Shipbuilding
- Energy industries
- Process and other industries
Technologies
The following technologies are covered in this research:
- Shielded metallic arc welding, gas metallic arc welding, gas tungsten arc welding, submerged arc welding
- Electron Beam
- Friction Stir
- Gas Welding
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