North America and Europe accounted for the majority of the market share in the global welding consumables industry
Dallas, Texas, May 19, 2021 (GLOBE NEWSWIRE) — The “Global Welding Consumables Market Size 2019, by End-user (Aerospace & Defense, Automotive, Construction, Marine, Others), by Type (Stick Electrodes, Solid Wires, Flux Cored Wires, Saw Wires & Fluxes), by Region and Forecast 2019 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.
Adroit Market Research report on the global welding consumables market gives a holistic view of the market from 2015 to 2025, which includes market trends such as drivers, restraints, opportunities, and challenges. The market has been studied for historic years from 2015 to 2017, with the forecast from 2019 to 2025. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market competition with Porter’s five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives, and overall revenue.
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The global welding consumables market is anticipated to cross USD 19 billion by 2025, growing at a CAGR of >5.0%. The increasing population coupled with infrastructure development has prompted developed as well as developing economies to increase their construction activities. According to the United Nations prediction, the number of people living in cities could double by 2050, which is close to 6.5 billion. Welding consumables continue to dominate the market as preferred technology due to its reliability, strength and relatively lower operational cost. This technology provides a smooth assembly of joined components, no professional workforce required to conduct process and ease of manufacture. All these advantages provided over the forecast period by the use of welding to drive the industry at a respectable rate.
The global welding consumables market has been segmented by end-use and type. The welding consumables market end-use segments mainly include construction, automotive, aerospace & defense, and marine sectors. Construction and marine applications are likely to retain a significant market share in the global welding consumables market. Particularly due to the growing demand from the other end-use segments, such as the oil and gas industries, manufacturing, and automotive applications, the market is projected to expand over the coming years.
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Welding methods have many advantages over traditional technologies such as riveting, which is expected to create a positive image for the demand for welding consumables. Welding is favored because of its durable and relatively pliant joints, low labor costs, and ease of welded part manufacturing. Both of these advantages contribute to increased momentum in welding in industries with different end uses. Subsequently, the tendency towards welding adoption elevated sales of welding consumables worldwide.
Asia-Pacific is expected to show the highest growth rate over the projected period, by virtue of rapid urbanization & industrialization, especially in the emerging economies such as China, India, South Korea, and Southeast Asia. Additionally, government investment and promotion towards renewable energy and increasing foreign direct investments (FDI) in solar, thermal, and wind energy sectors is expected to increase welding consumables market growth over the coming years. However, the environmental impact of welding consumables, customer price sensitivity, sluggish adoption of advanced welding technologies in developing countries, and slow growth of aerospace & defense are expected to be the key market challenges.
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The global welding consumables market is competitive in nature. A large number of domestic and international manufacturers are operating in this industry. Some prominent players are Bohler Welding, Hyundai, Lincoln Electric, Air Liquide, ARCON Welding, Denyo, Fronius International, Illinois Tool Work, Kemppi, Kobelco, Panasonic, and Tianjin Bridge Welding Materials Group.
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Major Points from Table of Contents:
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Welding Consumables Market by end-user
Chapter 6 Welding Consumables Market by Type
Chapter 7 Welding Consumables Market by Region
Chapter 8 Company Profiles
Chapter 9 Competitive Landscape
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Adroit Market Research is a global business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.