This market research report segments the global welding consumables market by product (stick electrodes, solid wires, flux cored wires, SAW wires and fluxes, and others) and by end-user industries (energy, automotive and transportation, construction, industrial equipment, shipbuilding, and aerospace industries). The research report presents the trending factors influencing market shares for APAC, North America, MENA, and Europe. The leading manufacturers of this market include Hyundai Welding, ESAB, Böhler Welding, and Lincoln Electric.
Technavio has released updated information on the welding market, with the publication of its new market research report, global welding consumables market. The global welding consumables market is expected to grow at a CAGR of around 5% between 2015 and 2019. The APAC dominates the welding consumables market globally, mainly because of the growing demand from developing countries such as China and India. Good economic growth in these countries have encouraged construction, automotive and transportation, and energy industries to show immense growth potential, leading to the market’s growth in APAC.
“The construction industry, accounting for a total market share of around 18%, is the major revenue contributor in the welding consumables market. Rapid urbanization and industrialization in developing countries have led to the rise in construction projects. The increase in construction activities worldwide has generated high demand for welding consumables in the construction industry,” says Navin Rajendra, Lead Analyst, Engineering Equipment, Technavio Research.
Global welding consumables market in construction industry 2014-2019 ($ billions)
Source: Technavio Research
The welding consumables have found wide applications across various indusreries including aerospace and defence, automotive and transportation, construction, heavy machinery, and shipbuilding. These are gaining popularity because of the advantages they offer such as low cost, availability of portable equipment, and applicability to a wide range of materials. Moreover, there are no substitutes for these consumables. Vendors are exploring new technologies in the market such as Intelligent Spot welding, Pulse Spot welding, and remote laser welding.
The key vendors in the global welding consumables market are Hyundai Welding, ESAB, Böhler Welding, and Lincoln Electric. The market is highly competitive and fragmented due to the presence of many local, regional, and international vendors. Vendors need to stay up-to-date with the latest welding consumables such as electrodes and metal wires, and the varied merchandise available in the market.
A more detailed analysis is available in the Technavio report, Global Welding Consumables Market 2015-2019.
We can customize this reports by other regions and specific segments upon request.
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