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Viewing report
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Strategic Analysis of European Welding Consumables Market
Frost & Sullivan, May 2010, Pages: 95
This Frost & Sullivan research service titled Strategic Analysis of European Welding Consumables Market provides a detailed analysis of the total European welding consumables market trends in end-user industries such as automotive and transportation, energy, process, heavy machinery, shipbuilding and construction among others. The study covers the welding consumables market in Germany, France, Italy, the United Kingdom, Benelux and Scandinavia. In this research, Frost & Sullivan's expert analysts thoroughly examine the following products: stick electrodes, solid wires, flux-cored wires and submerged arc welding (SAW) wires and fluxes.
Market Overview
A Spurt in Welding Activities Puts the European Welding Consumables Market on an Upswing
The European welding consumables market has weathered the economic downturn and is expected to experience significant growth this year. Increasing installations of wind turbines in Spain, Germany, France, Italy and the United Kingdom are expected to continue, stepping-up the demand for wires and electrodes. There will be greater investments in automotive and construction in the long term, boosting the demand for welding consumables. “Consumption of steel is expected to rise due to the restocking of depleted inventories along with the new demand spurred by the energy and automotive sectors,” says the analyst of this research. “This anticipated increase in steel consumption indicates a spurt in welding activities and thereby a rise in the demand for the welding consumables.” Coming out of the recession, the energy sector is the least-affected end user of welding consumables. Although several projects in the power generation, pipeline and the offshore industries were abandoned during the recession, the European Union (EU) policy is currently driving the need to develop renewable energy sources to reduce dependence on imported fuels. This is expected to boost the demand for welding consumables.
However, the spectrum of competition in this market ranges from highly competitive markets, where there are many sellers and each has little or no control over the product price, to a fairly less competitive market for niche consumables. Therefore, there is a lack of product differentiation. Additionally, increasing customer service requirements pose a major challenge for European welding manufacturers. Customer satisfaction is essential in building long-term, profitable relationships, which lead to customer loyalty and repeat business. “With escalating raw material prices, competition from Asian manufacturers, and low profit margins, several manufacturers are unable to provide effective customer services such as efficient packaging, after-sales service, and expert guidance to their customers,” explains the analyst.
Welding consumables manufacturers can differentiate themselves in this competitive market and increase their profit margins by providing rapid and on-time delivery, higher alloys of consumables that provide higher productivity, better packaging and marketing and a reduced average cost of production. “Manufacturers should continue to provide efficient packaging, material handling and after-sales service systems in order to build long-term relationships with existing customers,” concludes the analyst. “A one-stop-shop for all the welding needs can be one of the key strategies to drive the growth and penetration of welding companies.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Product:
- Stick electrodes
- Solid wires
- Flux-cored wires
- Submerged arc welding (SAW) wires and fluxes
By End-user:
- Automotive and transportation
- Energy
- Process
- Heavy machinery
- Shipbuilding
- Construction
By Region:
- Germany
- France
- Italy
- The United Kingdom
- Benelux
- Scandinavia
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