London, 13 August 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Welding Consumables Market 2014-2018, which is expected to grow at a CAGR of 6.86 percent during the period 2013-2018.
The welding consumables used in the welding process are used in various industries such as Aerospace and Defense, Automotive and Transportation, Construction, Heavy Machinery, and Ship Building because of the advantages offered such as low cost, availability of portable equipment, and applicability to a wide range of materials. Welding consumables are used in the welding process because there are no substitutes for these consumables.
Key Market Drivers
- Steady Improvement in US Economy
- Investments in Power Industry and Wind and Thermal Sectors
- Awareness of Advantages of Wired Consumables
Key Market Trends
- Use of Welding Robots and Automation of Welding Processes
- Demand from APAC Region
- Introduction of New Materials
Key Vendors
- ESAB Group Holdings Ltd.
- Illinois Tool Works Inc.
- Lincoln Electric Holdings Inc.
“The use of new materials in end-user industries has led to an increase in the demand for varied welding materials such as corrosion-resistant consumables,” says Faisal Ghaus, Vice President of TechNavio.
“New materials are being developed by material engineers to fulfill various challenges such as welding dissimilar materials, protecting joints from rusting, and increasing the strength of joints.”
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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