According to Technavio’s latest market research study, the global welding consumables market is expected to grow at a CAGR of close to 6% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global welding consumables market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the end-user type
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The top three revenue contributing end-user segments are discussed below:
Global welding consumables market for the automotive sector: The automotive industry remains a major contributing factor behind various technological upgrades in welding equipment, as well as the overall process. The growth of production of light vehicles may create additional demand for new welded automotive components, thereby generating potential demand for welding consumables manufacturers.
“Stringent requirements for quality, reliability, and precision is encouraging vendors in the welding industry to incorporate robotics and automation technologies into welding processes carried out in the automotive industry,” says Anju Ajaykumar, a lead analyst at Technavio for research on unit operations.
Global welding consumables market for the construction sector: Welding forms an integral part of the construction of buildings, bridges, pipelines, and massive offshore oil and gas rigs. Vietnam, the Philippines, and Indonesia are some of the key contributors to the market.
Global welding consumables market for the aerospace sector: The aerospace industry demands high strength-to-weight ratio materials and consequent welding for assembling components such as bulkheads, wing roots, hinges, spars, engine mounts, beams, brackets, wheels, landing gear cylinders and struts, and brake carriers. Developing markets such as developing economies like China, India, and nations in Latin America are projected to undergo substantial growth during the forecast period.
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The top vendors operating in the global welding consumables market are:
- Colfax
- Hyundai Welding
- ITW
- Lincoln Electric
Other prominent vendors in the market include Air Liquide, Arcon Welding Equipment, EWM, Eutectic, Denyo, Fronius International, Hyundai Welding, Hilarius Haarlem, Kemppi, Kjellberg Finsterwalde Elektroden und Zusatzwerkstoffe, Linde, Obara, Panasonic, Sandvik Materials Technology, Tianjin Bridge Welding Materials, Voestalpine, and VDM Metals.
A more detailed analysis is available in the Technavio report titled, ‘Global Welding Consumables Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Friction Stir Welding Equipment Market 2016-2020
- Global Welding Equipment Market 2016-2020
- Global Metal Fabrication Equipment Market 2016-2020
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