The global welding consumables market is driven by rise in number of applications across numerous end-user industries, growth in automotive & construction industry, and increase in global energy infrastructure investment. In addition, surge in use of welding consumables for maintenance & repair of existing products supplements the market growth. Asia-Pacific is expected to grow at the highest CAGR during the forecast period due to increase in construction activities, especially in the developing economies such as India and China. In addition, foreign direct investments (FDI) in wind and thermal industries play a significant role in growth and development of welding consumables market in this region. Slow adoption of innovative welding technologies in the developing countries, customer price sensitivity, and sluggish growth of shipbuilding and aerospace & defense sector limits the market growth. However, growth in need for welding automation technology, especially in the developed economies, is anticipated to provide lucrative opportunities for the market expansion.
The global welding consumables market is segmented on the basis of type, end-user industry, welding technique, and geography. Based on type, it is divided into stick electrodes, solid wires, flux cored wires, and SAW wires & fluxes. On the basis of end-user industry, it is classified into aerospace & defense, automotive & transportation, construction, energy, heavy machinery, shipbuilding, and process & others. On the basis of welding technique, the market is bifurcated into arc welding, resistance welding, oxy-fuel welding, laser-beam welding, and others. Geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.
In April 2017, The Lincoln Electric Company signed an agreement to acquire Air Liquide Welding France SA to expand its existing specialty welding consumables portfolio and widen its geographical reach in Europe.
The major players operating in this market include the following
Fronius International GmbH
Hyundai Welding Co., Ltd.
Illinois Tool Works Inc.
The Lincoln Electric Company
Tianjin Bridge Welding Materials Group Co., Ltd.
Voestalpine Böhler Welding GmbH
KEY BENEFITS FOR STAKEHOLDERS
This report provides a quantitative analysis of the current trends and estimations from 2017 to 2023 of the global welding consumables market to identify the prevailing market opportunities.
Major countries in each region are mapped according to individual market revenue.
Comprehensive analysis of factors that drive and restrict the market growth is provided.
An in-depth analysis of current research & clinical developments within the market is provided with key dynamic factors.
Key players and their key developments in the recent years are listed.
KEY MARKET SEGMENTS
Flux Cored Wires
SAW Wires & Fluxes
By End-user Industry
Aerospace & Defense
Automotive & Transportation
Process & Others
By Welding Technique
Others (Ultrasonic Welding and Thermochemical Welding)
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
Ador Welding Ltd.
Arcon Welding Equipment, LLC.
AV Weldtech Pvt Ltd.
Anand Arc Ltd.
D & H Welding Electrodes (India) Ltd.
Denyo Co., Ltd.
EWAC Alloys Ltd.
INOX Air Products Private Limited
Precision Weldarc Limited
Shanghai Baoxuan Metal Products Co., Ltd.
The Linde Group
Welmet Technologies Private Limited
Yenitek Corporate Group
(Companies mentioned above are not profiled in the report, but can be profiled upon client request)
1.1. Report description
1.2. Key benefits
1.3. Key market segment
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tool & model
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Market snapshot
2.2. CXO perspectives
CHAPTER 3. MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Porters five forces analysis
3.4. Market dynamics
126.96.36.199. Growth in automotive and construction sector
188.8.131.52. Increase in global energy infrastructure investment
184.108.40.206. Usage of welding consumables in maintenance and repair
220.127.116.11. Impact of welding consumables on environment
18.104.22.168. Slow growth of shipbuilding and aerospace & defence industries
22.214.171.124. Customer price sensitivity
126.96.36.199. Growth prospects in emerging economies
188.8.131.52. Rising requirement for welding automation technology in developed economies
3.5. Market share analysis, 2016 (%)
CHAPTER 4. GLOBAL WELDING CONSUMABLES MARKET, BY TYPE
4.1.1. Market size and forecast
4.2. Stick electrodes
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast
4.3. Solid wires
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast
4.4. Flux cored wires
4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast
4.5. SAW wires & fluxes
4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast
CHAPTER 5. GLOBAL WELDING CONSUMABLES MARKET, BY END-USER INDUSTRY
5.1.1. Market size and forecast
5.2. Aerospace & defence
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast
5.3. Automotive & transportation
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast
5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast
5.5.1. Key market trends, growth factors, and opportunities
5.5.2. Market size and forecast
5.6. Heavy machinery
5.6.1. Key market trends, growth factors, and opportunities
5.6.2. Market size and forecast
5.7.1. Key market trends, growth factors, and opportunities
5.7.2. Market size and forecast
5.8. Process & others
5.8.1. Key market trends, growth factors, and opportunities
5.8.2. Market size and forecast
CHAPTER 6. GLOBAL WELDING CONSUMABLES MARKET, BY WELDING TECHNIQUE
6.1.1. Market size and forecast
6.2. ARC welding
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast
6.3. Resistance welding
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast
6.4. Oxy-fuel welding
6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast
6.5. Laser-beam welding
6.5.1. Key market trends, growth factors, and opportunities
6.5.2. Market size and forecast
6.6.1. Key market trends, growth factors, and opportunities
6.6.2. Market size and forecast
CHAPTER 7. GLOBAL WELDING CONSUMABLES MARKET, BY GEOGRAPHY
7.1.1. Market size and forecast
7.2. North America
7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast
184.108.40.206. Market size and forecast, By Type
220.127.116.11. Market size and forecast, By Type
18.104.22.168. Market size and forecast, By Type
7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast
22.214.171.124. Market size and forecast, By Type
126.96.36.199. Market size and forecast, By Type
188.8.131.52. Market size and forecast, By Type
184.108.40.206. Market size and forecast, By Type
220.127.116.11. Market size and forecast, By Type
7.3.8. Rest of Europe
18.104.22.168. Market size and forecast, By Type
7.4.1. Key market trends, growth factors, and opportunities
7.4.2. Market size and forecast
22.214.171.124. Market size and forecast, By Type
126.96.36.199. Market size and forecast, By Type
188.8.131.52. Market size and forecast, By Type
184.108.40.206. Market size and forecast, By Type
7.4.7. South Korea
220.127.116.11. Market size and forecast, By Type
7.4.8. Rest of Asia-Pacific
18.104.22.168. Market size and forecast, By Type
7.5.1. Key market trends, growth factors, and opportunities
7.5.2. Market size and forecast
22.214.171.124. Market size and forecast, By Type
7.5.4. South Africa
126.96.36.199. Market size and forecast, By Type
7.5.5. Saudi Arabia
188.8.131.52. Market size and forecast, By Type
184.108.40.206. Market size and forecast, By Type
7.5.7. Rest of LAMEA
220.127.116.11. Market size and forecast, By Type
CHAPTER 8. COMPANY PROFILES
8.1. Colfax corporation
8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Operating business segments
8.1.4. Business performance
8.1.5. Key strategic moves and developments
8.2. FRONIUS INTERNATIONAL GMBH
8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Operating business segments
8.2.4. Business performance
8.2.5. Key strategic moves and developments
8.3. HYUNDAI WELDING CO., LTD.
8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Operating business segments
8.3.4. Business performance
8.3.5. Key strategic moves and developments
8.4. ILLINOIS TOOL WORKS INC.
8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Operating business segments
8.4.4. Business performance
8.4.5. Key strategic moves and developments
8.5. KEMPPI OY.
8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments
8.5.4. Business performance
8.5.5. Key strategic moves and developments
8.6. OBARA CORPORATION
8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Operating business segments
8.6.4. Business performance
8.6.5. Key strategic moves and developments
8.7. PANASONIC CORPORATION
8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating business segments
8.7.4. Business performance
8.7.5. Key strategic moves and developments
8.8. THE LINCOLN ELECTRIC COMPANY
8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Operating business segments
8.8.4. Business performance
8.8.5. Key strategic moves and developments
8.9. TIANJIN BRIDGE WELDING MATERIALS GROUP CO., LTD.
8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Operating business segments
8.9.4. Business performance
8.9.5. Key strategic moves and developments
8.10. VOESTALPINE BHLER WELDING GMBH
8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Operating business segments
8.10.4. Business performance
8.10.5. Key strategic moves and developments
Welding consumables are flux and filler materials that liquefy during welding to produce strong joints. The selection of welding consumables is dependent on the type of end use. Growth in construction and automotive industries, rise in the number of applications across various end-user industries, increase in usage of welding consumables for repair & maintenance purpose, and surge in global energy infrastructure investments drive the market growth. More than 90% of welding consumables and welding equipment products are sold through dedicated partners, system integrators, and distributors. System integrators are involved in sales of robotics, which have initialized welding units used in automated manufacturing. Regulatory authorities present in welding consumables market include European Union (EU), Occupational Safety and Health Administration (OSHA), American Welding Society (AWS), Registration, Evaluation, Authorization and Restriction of Chemicals (REACH), and American National Standards Institute (ANSI).
In 2016, the solid wires segment accounted for more than one-third of the market share, in terms of revenue, owing to their ability to weld numerous types of materials having varied thicknesses, and ease of use. In addition, these wires prevent oxidation, enhance the life of welding contact tip, and aid in electrical conductivity. The factors that are considered during selection of welding consumable for specific application are thickness of the material, wire feed settings, proper shielding gas, and voltage settings.
The energy segment is projected to grow at a significant CAGR during the forecast period due to growth in the number of investments in renewable power sources, stimulating the need for new projects. Asia-Pacific is anticipated to grow at the highest rate, owing to the large number of ongoing & proposed energy projects in China & India. The SAW fire & fluxes segment is anticipated to have largest demand in the wind sector, while increase in the number of thermal projects is expected to boost the growth of stick electrodes and solid wires. Delay in nuclear power projects, especially in North America and Europe, restrains the global market in the energy industry.
The arc welding segment accounted for the maximum share, in terms of both volume and revenue, in 2016 due to its low-cost welding solution, which requires minimal equipment, high heat concentration, enhanced corrosion resistance, and uniformity in metal deposition. Furthermore, the high heat concentration utilized increases penetration depth and speedup welding operation. Shielded metal arc welding (SMAW), gas metal arc welding (GMAW), flux cored arc welding (FCAW), and gas tungsten arc gas welding (GTAW) are the most popular procedures utilized in the welding industry.
Key Findings of the Welding Consumables Market:
Asia-Pacific is expected to lead the market during the forecast period, followed by Europe.
The flux cored wires segment is expected to show the highest growth rate by type in Europe, registering a CAGR of 6.9% from 2017 to 2023.
The energy segment is expected to show the highest growth, registering a CAGR of 6.5%.
South Africa accounted for 7.8% share, in terms of volume, in the LAMEA welding consumables market in 2016.
UK accounted for 9.95% share, in terms of revenue, in the European welding consumables market, in 2016.
India is expected to grow at the highest CAGR of 7.7% in the Asia-Pacific region.
Asia-Pacific and Europe collectively accounted for more than half of the share of the global market revenue in 2016. In the same year, Asia-Pacific dominated the market, owing to the growth in automotive sector and increase in construction activities. Moreover, initiatives taken by government authorities to support growth of manufacturing sector are expected to boost the demand for welding consumables in the region.
The significant market players profiled in the report include Colfax Corporation (U.S.), Fronius International GmbH (Austria), Hyundai Welding Co., Ltd. (Singapore), Illinois Tool Works Inc. (U.S.), Kemppi Oy. (Finland), Obara Corporation (Japan), Panasonic Corporation (Japan), The Lincoln Electric Company (U.S.), Tianjin Bridge Welding Materials Group Co., Ltd. (China), and Voestalpine Bhler Welding GmbH (Germany).
- Colfax Corporation
- Fronius International GmbH
- Hyundai Welding Co. Ltd.
- Illinois Tool Works Inc.
- Kemppi Oy.
- Obara Corporation
- Panasonic Corporation
- The Lincoln Electric Company
- Tianjin Bridge Welding Materials Group Co. Ltd.
- Voestalpine Bhler Welding GmbH.
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
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