Yahoo Finance Welding Consumables Market will reach USD 28.49 billion by 2030 : GreyViews
Welding Consumables Market Size by Consumables (Gases, Submerged Arc Wires & Fluxes, Stick Electrodes, Strip Cladding Electrodes, and Others), By Welding Type (Plasma Arc Welding, Resistance Welding, Arc Welding, Submerged Arc Welding, Energy Beam Welding, Electro Slag Welding, and Others), By End-User (Marine, Automotive, Oil & Gas, Industrial Fabrication, Construction, Aerospace & Defense, Power Generation, and Others), Regions, Segmentation, and forecast till 2030.
Pune India, Jan. 28, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the welding consumables market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the welding consumables market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as consumables, welding type, end-user, and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.
The significant players operating in the global welding consumables market are The Lincoln Electric Company, Taiyo Nippon Sanso Corporation, Illinois Tool Works Inc, Hyundai Welding Co, Ltd., Air Liquide S.A., EWM AG, Air Products and Chemicals, Inc., Ador Welding Limited, MESSER Group GmbH, FSH Welding Group, WB Alloy Welding Products Limited, Industrial Welding Corporation, GCE Group AB, Kiswel Ltd, The VBC Group Ltd., Hilarius Haarlem Holland B.V., Gedik Welding, Magmaweld, Selectrode Industries, Chosun Welding, D & H India, Yawata Electrode Co Ltd. among others. To achieve a substantial market share in the worldwide welding consumables market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
In the process of welding, welding consumables include flux and filler metals. Flux prevents hot metals from oxidizing during this process by melting filler metals to form strong bonds between two metals. As a result of these consumables, welding is cost-effective, contaminants in the air are prevented from harming the molten weld, and porosity is prevented in the weld pool. As advanced welding technologies are slow to be adopted, the global welding consumables market is predicted to stagnate over the forecast period. Additionally, cost sensitivity is hampering the market growth in these countries. Electron beams and laser beams are mostly used in developed countries, but due to their high costs, they are less common in developing countries. Furthermore, one of the primary reasons for the growth of the global welding consumables market will be the growing global construction industry. Throughout the forecast period, the global welding consumables market is expected to grow as construction activities increase worldwide, fueling high demand for welding consumables in the construction industry. The welding process for repairing and maintaining automobiles has increased the demand for welding consumables, as well as the rapid urbanization and industrialization that have increased the demand for welding consumables. As a result, the construction and automobile industries are expected to continue to grow over the forecast period, driving the market.
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Scope of Welding Consumables Market Report:
Report Metric | Information |
Study Period | 2022-2030 |
Base Year | 2022 |
Forecast Period | 2023-2030 |
Market Share Unit | USD Billion |
Segments Covered | Consumables, Welding Type, End-User, and Regions. |
Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
Major Players | The Lincoln Electric Company, Taiyo Nippon Sanso Corporation, Illinois Tool Works Inc, Hyundai Welding Co, Ltd., Air Liquide S.A., EWM AG, Air Products and Chemicals, Inc., Ador Welding Limited, MESSER Group GmbH, FSH Welding Group, WB Alloy Welding Products Limited, Industrial Welding Corporation, GCE Group AB, Kiswel Ltd, The VBC Group Ltd., Hilarius Haarlem Holland B.V., Gedik Welding, Magmaweld, Selectrode Industries, Chosun Welding, D & H India, Yawata Electrode Co Ltd. among others |
Segmentation Analysis
Submerged arc wires & fluxes are expected to be the fastest-growing segment in 2022.
The consumables segment is gases, submerged arc wires & fluxes, stick electrodes, strip cladding electrodes, and others. The submerged arc wires & fluxes segment is expected to witness the highest growth rate during the forecast period. In addition to having a very good weld bead appearance, this flux has good slag removal even through narrow grooves and fillets.
Arc welding is expected to be the fastest-growing segment in 2022.
The welding type segment includes plasma arc welding, resistance welding, arc welding, submerged arc welding, energy beam welding, electro slag welding, and others. The arc welding segment is expected to witness the highest growth rate during the forecast period. Arc welding, a welding technique that uses electricity to unite metals, achieves smooth welding, produces little smoke, is easy to use, and creates little distortion when it is done. The worldwide welding consumables market is expected to be dominated by arc welding because of all these benefits.
Construction is expected to be the fastest-growing segment in 2022.
The end-user segment is marine, automotive, oil & gas, industrial fabrication, construction, aerospace & defense, power generation, and others. The construction segment is expected to witness the highest growth rate during the forecast period. Technology advancements in the building industry are expected to drive rapid growth in the construction segment over the forecast period. The increasing amount of money that governments are investing in infrastructure development could also fuel the growth of the construction industry, which will boost the demand for welding consumables.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the wearable consumables market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. The North American welding consumables market is projected not to see substantial expansion based on data currently available. The market is expected to remain stable throughout the forecast period. However, the development of robotics and the Internet of Things (IoT) may change this market's trajectory.
Country Analysis
Germany
Germany's welding consumables market size was valued at USD 1.28 billion in 2022 and is expected to reach USD 2.13 billion by 2030, at a CAGR of 6.6% from 2023 to 2030
During the forecast period, building & construction and transportation are expected to drive the welding consumables market in India owing to their growing applications.
China
China’s welding consumables market size was valued at USD 1.34 billion in 2022 and is expected to reach USD 2.26 billion by 2030, at a CAGR of 6.8% from 2023 to 2030.
China's market is primarily intended to serve the robust development activities in the robotics and cobot markets. In response to this development, robotic welding has gained much traction, operating at a much higher speed and efficiency than many other types of welding tools and processes, as well as assisting with process monitoring as well.
India
India's welding consumables market size was valued at USD 1.03 billion in 2022 and is expected to reach USD 1.73 billion by 2030, at a CAGR of 6.7% from 2023 to 2030.
In response to consumers' growing preference for healthy living, tissue towel firms have expanded their product lines. This has led to the acquisition of smaller companies at lower prices, which is expected to boost the tissue towel market.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising demand from the construction and automotive sector.
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