Welding Consumables Market Status (2016-2020) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2021-2027
Report Description
The global Welding Consumables market size is estimated at USD 11.8 billion in 2020, expanding at a CAGR of 3.9% from 2021-2027.
Market Dynamics
Welding Consumables are the material used to join two metals that provide a strong bond. Welding Consumables include solid wires, fluxes, electrodes, and other consumables to join the metal parts. Growing technological advancement in automotive and other end-use industries including transportation, building & construction, manufacturing, energy & power, marine, oil & gas, and others are likely to boost the market growth during the forecast period.
In addition, huge investment in infrastructure, prominent growth in the steel industry, and rise in demand for welding consumables, and industrialization & urbanization are other driving factors of the market.
However, the high maintenance cost and environmental impact of welding are likely to hamper the market growth during the forecast period.
Based on Type, the market is bifurcated into Stick Electrode, Solid Wires, Fluxes & Wires, and others. The Stick Electrode segment is estimated to hold the largest market share during the forecast period as these electrodes are used for metals such as mild steel, stainless steel, and another alloy welding.
Based on Technology, the market is segmented into Arc Welding, Oxy-fuel Welding, Laser Beam Welding, Resistance Welding, Ultrasonic Welding, and others. The Arc Welding segment witnessed the largest market share during the forecast period owing to its high welding speed and portability. This technology is widely used in building and Construction as the cost of the consumables are cheap and affordable.
Based on Application, the market is bifurcated into Automotive, Construction and Manufacturing, Aerospace and Aviation, Oil & Gas, Marine, Transportation, Military & Defence, Power & Energy, and others. The Automotive segment is projected to hold the largest market share in the Welding Consumables market during the forecast period due to growing demand and technological advancement in the automotive industry.
Regionally, the Asia-Pacific region holds the largest revenue share in 2020 and is estimated to register significant growth during the forecast period owing to a large population, rise in construction activities, and surge in the automotive & transportation sector.
On the other hand, North America accounted for the significant growth rate during the forecast period due to the investment policies, growing economies, and government initiatives for promoting automobile industries.
Some of the prominent players are Bohler Welding, Hyundai Welding Co., Ltd., Kobe Steel, Ltd., Lincoln Electric Company, Colfax Corporation, Air Liquide, Denyo Co., Obara Corporation, Fronius International GmbH, Tianjin Bridge Welding Materials Group, Arcon Welding Equipment, Illinois Tool Works Inc., Linde Plc, Messer Group GmbH, and Voestalpine Böhler Welding GmbH, among others.
The report begins from an overview of the Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Welding Consumables Market by type, technology, application, and region. In addition, this report introduces the market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.
Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products, etc.):
- Colfax Corporation
- Bohler Welding
- Hyundai Welding Co., Ltd.
- Kobe Steel, Ltd.
- Lincoln Electric Company
- Air Liquide
- Denyo Co.
- Obara Corporation
- Fronius International GmbH
- Tianjin Bridge Welding Materials Group
- Arcon Welding Equipment
- Illinois Tool Works Inc.
- Linde Plc
- Messer Group GmbH
- Voestalpine Böhler Welding GmbH
Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Stick Electrode
- Solid Wires
- Fluxes & Wires
- Others
Technology Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Arc Welding
- Oxy-fuel Welding
- Laser Beam Welding
- Resistance Welding
- Ultrasonic Welding
- Others
Application Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Automotive
- Construction and Manufacturing
- Aerospace and Aviation
- Oil & Gas
- Marine
- Transportation
- Military & Defence
- Power and Energy
- Others
Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):
- North America (U.S., and Canada)
- Europe (Germany, U.K., France, Italy, Spain, etc.)
- Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
- Latin America (Brazil, Mexico, Argentina, etc.)
- Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)
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Research Methodology
Our research studies are primarily performed in five phases which include Secondary Research, Primary Research, Subject Matter Expert Advice, Quality Check, and Final Review. The process opted for conducting thorough research to make authentic business reports is briefly described below-
Secondary Research-
- Based on the understanding of requirements, we conducted secondary research to identify the Segment specifications, qualitative and quantitative data along with the factors responsible for the growth of the market.
- The secondary sources referred for the study include press releases, company annual reports, and research papers related to the industry.
- Various sources such as industry magazines, trade journals, government websites, and associations were also reviewed for gathering precise analysis on opportunities for business expansions in the market.
- Moreover, quantitative as well as qualitative data were also extracted from paid databases, which included Reuters, Factiva, Bloomberg, One Source, and Hoovers, which proved to be useful for in-depth technical study of the market.
Primary Research-
- The research carried out during the desk research was verified by primary interviews. Primary research was scheduled with a number of industry experts for conducting telephonic interviews, and also our team send questionnaires through their official emails.
- The secondary data collected was then verified by various industry participants which included Segment managers, marketing managers, VPs, CEOs, purchasing managers, subject matter experts.
- An interview with the mentioned participants aids invalidation of our research findings regarding the Segment.
- It helps in the provision of first-hand data on factors such as market size, growth, regional trends, market trends, and competition in the industry. This approach makes our findings precise in order to help our clients in strategic decision-making processes.
Subject Matter Advice-
- The secondary and primary research key findings were then validated by the in-house subject matter experts having extensive experience in the market research industry.
- Specific requirements of the clients were reviewed by the experts to check for completion of the market study. Experts help in channelizing the representation skills of the analyst in terms of providing data that can be easily understood by our customers.
Quality Check-
- The analysis done by the research team was further reviewed to check for data accuracy provided to suit the clients’ specific requirements.
- This revision was done in various phases to check the data authenticity and to remove negligible errors in the final compilation.
Final Review-
- After the quality check, a final review of the report was done to look after the presentation, formatting, and to recheck if all the requirements of the clients were addressed. The next phase remains dispatch of the report to the client.
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