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World Arc Welding Equipment and Filler Metals Market 2011
Frost & Sullivan, Sep 2011, Pages: 98
Increasing Demand from Energy Sectors to Propel the $11.70 Billion Arc Welding Equipment & Filler Metals Market towards $19.29 Billion in 2017
Asia Pacific, accounting for $4.93 Billion of the Total Market, to demonstrate the Highest Compound Annual Growth Rate of 7.8 Per cent from 2010-2017
The global arc welding equipment & filler metals market rebounded strongly from the economic downturn to post a growth rate of 5.8 per cent in 2010 and is expected to touch 7.4 per cent by 2017. Europe, Middle East and Africa (EMEA), has been the second biggest contributor to this revival - after – Asia Pacific with India and China being the most important markets in the region. Government investments and regional economic stability are expected to increase the demand for arc welding equipment and filler metals in the future. Meanwhile, the industry that contributed the most to market growth in 2010 was energy, as it was the least affected by the downturn. This was due to the continuous demand for filler metals, as end-users preferred to invest in these lower-priced products during the slowdown. The energy industry also has considerable infrastructure requirements as well as repairs and maintenance in pipelines, offshore, liquefied natural gas (LNG) tanks, wind turbine installations and the nuclear sector. There is also substantial demand from automotive & transportation, construction, infrastructure, industrial expansion in emerging economies and the expected hike in steel consumption in machinery and equipment. Foreign direct investments (FDI) as well as a rise in emerging technologies such as energy-saving machines and corrosion-resistant filler metals that save costs have given a boost to the sales of arc welding equipment and filler metals.
While the Asia Pacific market is likely to benefit the most from the growth in these end-user industries, the EMEA will also experience significant demand from industries in Eastern Europe, Russia, Middle East and Africa,” says the analyst of this research. “Manufacturers are looking to shift base to these economies to reduce their operational and labour costs and increase productivity.” Mature economies such as Central and Western Europe and North America are expected to witness lower demand, since these economies are still shaking off the effects of the downturn. Asia is likely to witness the entry of more participants, particularly in the filler metals market. The rising base material costs are compelling manufacturers to raise the prices of their products but customers are seeking more advanced technology, quality and services, at lower prices. A large number of smaller participants from China are able to match this requirement for a wide product range at affordable prices, while the influx of participants from Korea has also helped ease the demand for arc welding equipment and filler metals. This profusion of companies is fragmenting the market and forcing manufacturers to invest in R&D to develop products that customers require and expand their product portfolio in a bid to retain their market shares.
Manufacturers will be under pressure to offer the latest technologies. As customers demand a one-stop solution that will allow them to decrease their operational, man power as well as repair costs, manufacturers are experimenting with novel base materials to slash the total cost of production and maintenance. “Manufacturers are increasingly using high-performance alloys in filler metals market to avoid spatter and corrosion, which are useful advantages in the offshore segment,” notes the analyst. “A rising number of arc welding equipment is now portable, light weight, easy-to-use and energy-efficient or battery operated, and this lessens the pricing pressure on customers.” Most manufacturers have introduced training programs for distributors and customers to enable the most efficient use of the products. Manufacturers are also looking to strengthen their ties with distribution networks in emerging economies; while in Russia, there is a marked acquisition trend. Arc welding equipment and filler metals companies are backing up their business expansion strategies with excellent customer support. Value-added services, on-time delivery and immediate query clarifications from trained personnel will go a long way in establishing customer loyalty and stand out in this fiercely competitive market.
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
Arc Welding Equipment:
- Shielded metallic arc welding {SMAW or manual metallic arc (MMA)}
- Gas metallic arc welding (GMAW)
- Gas tungsten arc welding (GTAW)
- Submerged arc welding (SAW)
Filler Metals:
- Flux cored wires
- Solid wires
- Stick electrodes
- SAW fluxes and wires
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