According to Technavio’s latest market research study, the global welding wires market is expected to grow at a CAGR of approximately 4% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global welding wires 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 application type
The top three revenue contributing application segments are discussed below:
Global welding wires market by the automotive segment: The automotive sector has been a major determinant behind various technological upgrades in welding equipment and the overall process. The presence of stringent requirements for quality, reliability, and precision has led to the incorporation of robotics and automation technologies in welding processes in the automotive sector, resulting in the growth of the global welding wires market by the automotive segment.
“The demand for light vehicles is expected to rise in every region other than Japan and South Asia. China dominates the global light vehicles production market. Japan’s automobile sector majorly exports to European and American countries and consists of some of the most innovative and technologically advanced products. However, these advantages will not be sufficient to compete with European automobile manufacturers. The growth of production of light vehicles will create additional demand for new welded automotive components, creating a potential demand for welding consumables,” says Anju Ajaykumar, a lead analyst at Technavio for research on engineering tools.
Global welding wires market by the construction segment: Welding consumables have become an essential part of the construction industry. Welding forms an integral part of the construction of buildings, bridges, pipelines, and massive offshore oil and gas rigs. Governments in developing and developed countries have been trying to expand national infrastructure, such as roads, bridges, and dams, which require a huge amount of welding consumables. Such developments are propelling the demand for welding wires from the construction sector.
Global welding wires market by the aerospace and defense segment: In the aerospace industry, welded components are extensively used in building various commercial and defense aircraft. The industry demands high strength-to-weight ratio materials and consequent welding to assemble components such as bulkheads, wing roots, hinges, spars, engine mounts, beams, brackets, wheels, landing gear cylinders and struts, and brake carriers. According to market research analysts at Technavio, the steady increase in the number of commercial aircraft fleets and the recent rise in global defense budgets will have a significant impact on the aerospace industry and thereby, have a positive influence on the global welding wires market.
The top vendors operating in the global welding cables market are:
- Colfax (ESAB)
- Hyundai Welding
- Illinois Tool Works (ITW)
- The Lincoln Electric Company
Other prominent vendors in the market include Sandvik (Sandvik Materials Technology), NATIONAL STANDARD (Heico Wire Group), Hobart Brothers Company, Jiangsu ZhongJiang Welding Wire, Saarstahl, Sumitomo Electric Industries, Luvata, Haynes International, LaserStar Technologies, Harris Products Group, BOC (Linde Group), Ador Fontech Limited, Zaimoglu Holding (Magmaweld), The Indian Steel & Wire Products, WeldWire, voestalpine Böhler Welding, IABCO, Gedik Welding, Ceweld Nederland, KEI Industries, Kobe Steel, Daido Steel, D&H Sécheron, Ador Welding, Berkenhoff, NovaTech, ITALFIL , Tianjin Bridge Welding Material Group, and Air Liquide.
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