Welding Consumables Market Scenario by Key Companies, Future Trends, Pipeline Projects, Growth and Regional Forecasts to 2028, Fortune Business Insights

Posted on Aug 2 2021 10:07 AM

"Welding Consumables Market Size, Share & Industry Analysis, By Type (Stick Electrodes, Solid Wires, Flux-cored Wires and SAW Wires & Fluxes), By Application (Heavy Engineering, Automotive, Railways, Construction, Shipbuilding and Others) and Regional Forecast, 2019-2026 "

According to the report, The global welding consumables market size is projected to reach USD 15.15 billion by 2027, exhibiting a CAGR of 3.3% during the forecast period. Development of robotic welding systems is expected to propel the growth of this market in the near future, finds Fortune Business Insights™ in its report, titled “Welding Consumables Market Size, Share & COVID-19 Impact Analysis, By Type (Stick Electrodes, Solid Wires, Flux-corded Wires and SAW Wires & Fluxes), By Application (Heavy Engineering, Automotive, Railways, Construction, Shipbuilding and others) and Regional Forecast, 2020-2027”.

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 According to the report, the global market value was at USD 11.76 billion in 2019. The report also offers the following:

  • Careful segmentation of the market and piece-meal study of each segment;
  • Comprehensive insights into the regional developments occurring in the market;
  • Tangible research into the market drivers, trends, and challenges; and
  • Granular assessment of the competitive landscape of the market.

A few key industry leaders such as ABB and ESAB have been constantly innovating and coming up with novel robotics solutions for welding applications. For example, ABB has been researching and developing a next-gen welding solution called “flying start”, which will save precious milliseconds per weld. Robotic welds will be embedded with a flying-start mode that will enable turning on the power source for the weld before it arrives on location. KUKA AG, a leader in industrial robotics, released its ready 2_grind robotic solution in 2017 that can be utilized for blending and grinding applications across multiple industries, where welding is a core activity. These innovations are expected to fuel the welding consumables market growth in the forthcoming years.

The outbreak of the COVID-19 pandemic has crippled the global economy. Businesses are experiencing unprecedented stress as economies continue to report dismal numbers. We, at Fortune Business Insights™, aim to equip businesses with a comprehensive impact analysis of the current pandemic on different markets, based on our expertise and experience in market intelligence.

 

List of Key Companies Profiled in this Market Report:

  • Miller Electric Mfg. LLC (Wisconsin, United States)
  • Capilla (Leopoldshöhe, Germany)
  • RME MIDDLE EAST (Dubai, UAE)
  • KISWEL CO., LTD. (Seoul, South Korea)
  • ESAB (Maryland, United States)
  • Lincoln Electric (Ohio, United States)
  • Tianjin Golden Bridge Welding Materials Group International Trading Co., Ltd. (China)
  • voestalpine BÖHLER Edelstahl GmbH (Austria)
  • CS HOLDINGS CO., LTD. ( Gyeongsangbuk-do, South Korea)
  • ZULFI (Al Zulfi, Saudi Arabia)
  • KOBE STEEL, LTD (Hyogo, Japan)

Competitive Landscape

Focused Spending on Innovation to Produce Favorable Results for Players

Key players in the market for welding consumables are directing their investments smartly towards innovation, which is enabling them to not only diversify their offerings but also to cement their market position. With a view to expanding global footprint, companies are also strategically acquiring entities and bolstering their international and regional presence.

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Market Restraint

Massive Shortage of Skilled Welders to Inhibit Market Growth

One of the major roadblocks impeding the welding consumables market growth is the severe shortfall of skilled welding professionals across different industries. In India, for instance, the Indian Institute of Welding estimates that the country currently faces a shortage of 1.2 million welding professionals, which is likely to swell to 1.35 million over the next three years. Similarly, the American Welding Society predicts that the deficit of welding workers will reach 400,000 by 2024. Moreover, the lack of skilled welding professionals is hampering the quality of products. For example, in June 2018, Ford had to recall 12,000 of its models owing to defects in the pump welds. In another instance, the UK was forced to delay the launch of its nuclear missiles in August 2018 after it was discovered that the missile tubes had cracks. Thus, deficiency in skilled welders is likely to stymie the demand for welding consumables in the coming years.

Industry Developments:

  • July 2020: Lincoln Electric expanded its flagship line of Ranger welders/generators by adding the new Ranger®260MPX™. The novel welding machine features a compact design and a digital interface, with a 20% lower carbon footprint than other comparable products.
  • March 2020: voestalpine Böhler Welding purchased a majority stake in Selco s.r.l., the leading welding machine manufacturer in Italy. Böhler is aiming to strengthen its position in Europe as the acquisition allows the company to add welding machines to its portfolio.

There is increasing research to study the behavior of materials at the atomic level to join two different metals without losing their metal strength, corrosion resistance, and other performance factors. In such a scenario, energy-efficient and environmentally benign “smart” materials are gaining impetus in the market. Smart materials are embedded with computer chips to monitor the weldment’s lifecycle performance and serve multi-functional design. For instance, welding and joining of NiTi shape memory increases flexibility in terms of smart design for multi-functional systems. Moreover, integration of such materials requires less energy and reduces the pre-heating and post-heating processes. Incorporation of such technologies would be beneficial for product designers for simulations, manufacturers, and welders to improve the entire manufacturing cycle.

 

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Key Segmental Overview:

 

1. By Type

  • Stick Electrodes
  • Solid Wires
  • Flux-cored Wires
  • SAW Wires & Fluxes

 

2. By Application

  • Heavy Engineering
  • Automotive and Transportation
  • Railways
  • Construction
  • Shipbuilding
  • Others (Oil & Energy, Aerospace & Defense)

 

3. By Region

  • North America (the U.S. and Canada)
  • Europe (the U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia Pacific)
  • The Middle East & Africa (South Africa, GCC, and the Rest of the Middle East & Africa)
  • Latin America (Brazil, Mexico, and the Rest of Latin America)

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Major Table of Content :

 

  1. Introduction
    1. Definition, By Segment
    2. Research Approach
    3. Sources
  2. Executive Summary
  3. Market Dynamics
    1. Drivers, Restraints and Opportunities
    2. Emerging Trends of Market
  4. Key Insights
    1. Macro and Micro Economic Factors
    2. Key Technological Developments
    3. Consolidated SWOT Analysis of Key Players
    4. Porter’s Five Forces Analysis
  5. Global Welding Consumables Market Analysis, Insights and Forecast, 2015-2026
    1. Key Findings / Summary
    2. Market Sizing Estimations and Forecasts – By Type (Value)
      1. Stick Electrodes
      2.  Solid Wires
      3.  Flux-cored Wires
      4.  SAW Wires & Fluxes
    3. Market Sizing Estimations and Forecasts – By Application (Value)
      1. Heavy Engineering
      2.  Automotive and Transportation
      3.  Railways
      4.  Construction
      5.  Shipbuilding
      6.  Others (Oil & Energy, Aerospace & Defense, etc.)
    4. Market Analysis, Insights and Forecast – By Geography (Value)
      1. North America
      2. Europe
      3. Asia Pacific
      4. Middle East and Africa
      5. Latin America
  6. North America Welding Consumables Market Analysis, Insights and Forecast, 2015-2026
    1. Key Findings / Summary
    2. Market Sizing Estimations and Forecasts – By Type (Value)
      1. Stick Electrodes
      2.  Solid Wires
      3.  Flux-cored Wires
      4.  SAW Wires & Fluxes
    3. Market Sizing Estimations and Forecasts – By Application (Value)
      1. Heavy Engineering
      2.  Automotive and Transportation
      3.  Railways
      4.  Construction
      5.  Shipbuilding
      6.  Others (Oil & Energy, Aerospace & Defense, etc.)
    4. Market Analysis, Insights and Forecast – By Country (Value)
      1. U.S.
      2. Canada

TOC Continued...

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Click here to get the short-term and long-term impact of COVID-19 on this Market.

https://www.fortunebusinessinsights.com/press-release/welding-consumables-market-9338 

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