Market players are focusing on enhancing product portfolios through M&A's and product innovation to extend their product offering and solidify their market position.
DUBAI, UAE / ACCESSWIRE / November 17, 2020 / The welding consumables market will grow at a remarkable CAGR of 5.7% across the forecast period, 2020-2030. The growth can be primarily driven by significant expansion in infrastructure and urbanization-boosting requirement for industrial fabrication globally. Furthermore, technological progression such as usage of computer assisted welding methods and welding robots will bode well in the global market.
"Players are expanding in developing regions which holds growth potential in the end use sectors. Supply chain and distribution based collaborations are also taking place to enhance export particularly in South Asian nations." concludes the FMI analyst.
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Key Highlights
- East Asia is anticipated to remain the fastest growing region due to thriving electronics, infrastructural and automotive sector in the region.
- Arc welding type continues to spur growth over the forecast period.
- Stick electrodes to account for largest market share, followed by the wire category.
- Construction sector to remain lucrative end user segment among other over the forecast period.
Drivers
- Increasing regional welding consumables producers offering cost effective solutions will transform welding consumables market dynamics.
- Expansion of several end use sectors generating demand for welding consumables.
- Technological progressions such as use of computer assisted welding techniques and welding robots are altering latest welding consumables landscape.
Restraints
- Slow implementation of advanced technologies, predominantly in the emerging nation poses a threat to the expansion of the global market.
- Fluctuations in raw material prices can be a foremost aspect constraining the welding consumables market expansion.
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COVID-19 Impact on the Market
The COVID-19 pandemic has adversely impacted the global welding consumables market due to temporary halt in production ore reduced production capacity. This has prompted a slump in demand for welding consumables. However, as the lockdown restrictions alleviates and manufacturing activities gradually begin, the market is anticipated to reflect a steady growth over the forecast period.
Competitive Landscape
Prominent companies operating in the global market are Voestalpine AG, Colfax Corporation, Kobe Steel LimitedLinde Plc, , Illinois Tool Works Inc, Taiyo Nippon Sanso Corporation, Air Products and Chemicals Inc., Air Liquide S.A., MESSER Group GmbH, EWM AG, Hyundai Welding Co Ltd., Ador Welding Limited, FSH Welding Group, WB Alloy Welding Products Limited, Industrial Welding Corporation and GCE Group.
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About the Study
The study offers readers a comprehensive assessment of the Welding Consumables market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. the study provides insights according to consumables (stick electrodes (mild steel, stainless steel, low alloy, nickel, aluminium and others), gases, strip cladding electrodes, submerged arc wires and fluxes, wires (metal cored wires, mig/mag wires, flux cored wires) and others), end use (Automotive, Construction, Oil and Gas, Marine, Power Generation, Aerospace and Defence, Industrial Fabrication, Others) and welding type (arc welding (sheild metal arc welding, gas metal arc welding, flux cored arc welding, gas tungsten arc welding), energy beam welding, plasma arc welding, submerged arc welding, electro slag welding, resistance welding, and others), across key regions (north america, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definitions
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
5. Global Welding Consumables Market Demand (in Value or Size in US$ Mn) Analysis 2015-2019 and Forecast, 2020-2030
5.1. Historical Market Value (US$ Mn) Analysis, 2015-2019
5.2. Current and Future Market Value (US$ Mn) Projections, 2020-2030
5.2.1. Y-o-Y Growth Trend Analysis
5.2.2. Absolute $ Opportunity Analysis
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SOURCE: Future Market Insights