Welding Consumables Market to Witness Robust Growth Expansion by 2027
Posted on Sep 28 2022 2:00 PM
"Welding Consumables Market Size, Share & COVID-19 Impact 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, 2020-2027 "
According to the latest report, titled “Welding Consumables Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast’ the India facility management market is expected to exhibit a Huge CAGR during the Forecast Period. The global welding consumables market size was USD 11.76 billion in 2019 and is projected to reach USD 15.15 billion by 2027, exhibiting a CAGR of 3.3 % during the forecast period
This COVID-19 analysis of the report includes COVID-19 IMPACT on the production and, demand, supply chain. This report provides a detailed historical analysis of the global Welding Consumables Market by region/country and subsectors. The report covers the revenue, sales volume, price, historical growth, and future perspectives in the Welding Consumables Market.
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A few top players in the industry are-
- American Air Filter Company, Inc.
- W. L. Gore & Associates, Inc. Oracle
- APC Filtration
- Parker-Hannifin Corporation
- Donaldson Company
- MayAir Group
- Mann+Hummel Group
- Koch Filter
The report gives a precise view of the future perspective and present market demands. The report also includes facts and statistics, tables & figures referred to in this report for strategic planning which leads to the success of the organizations. In this market report, the market share that various manufacturers hold in the global Welding Consumables Market and the market concentration is described in the report.
On the basis of Geography, the Global Welding Consumables Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to hold a considerable share in the global Welding Consumables Market. Due to increasing investment for research and development process and adoption of solutions in the region whereas Asia-Pacific is expected to grow at a faster pace during the forecasted period.
The growing number of Welding Consumables Market players across regions is expected to drive market growth further. Moreover, increasing investments by prominent vendors in product capabilities and business expansion is expected to fuel the market during the study period. Many market players are finding lucrative opportunities in emerging economies like China and India, where the large populations are coupled with new innovations in numerous industries.
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Demand for Welding Operations across Various Industries to Support Growth
The widespread usage of welding consumables across the construction, oil and natural gas exploration, automotive, and heavy engineering industries is driving the welding market. For example, in December 2018, ABB won an order worth USD 79 million for upgrading the Bab Onshore Field in Abu Dhabi. Similarly, Qatar has invested around USD 200 billion for the 2022 FIFA World Cup.
Furthermore, adoption of welding activity in the automotive industry is rapidly growing owing to the stringent environmental norms and standards. For instance, automotive manufacturers are rigorously focusing on reducing the weight of their vehicles by replacing many metal parts with plastic materials so that the engine can be downsized, resulting in reduction in fuel consumption, and hence, lower emissions. In such a scenario, welding of plastic requires special material consumables in order to sustain the overall welding processes while manufacturing and assembling the body parts of the vehicles. Owing to the aforementioned factors, the adoption of welding consumables is anticipated to widen in the coming years
An overview of the Welding Consumables Market’s regional outlook:
The market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). North America is further subdivided into countries such as the United States and Canada. The Europe region is further divided into the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe. China, Japan, South Korea, India, Australia, South East Asia, and the rest of Asia Pacific are subdivided into Asia Pacific. The Latin America region is separated into Brazil, Mexico, and the rest of Latin America, whereas the MEA region is divided into GCC, Turkey, South Africa, and the rest of MEA.
Introduction of Smart Materials in Welding Industry to Boost the Market
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.
- What is the driving factor for the growth of the Welding Consumables Market?
- How will the COVID-19 pandemic impact the demand and consumption of the Welding Consumables Market?
- What is the major application area of the Welding Consumables Market?
- Who are the Welding Consumables Market manufacturers across the globe?
- Which geographical location is dominant in the Welding Consumables Market?
- Which are the top industry players in the Welding Consumables Market?
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