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India Welding Consumables Market is Expected to Reach INR 45.37 Bn by 2020

04-17-2018 11:20 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
India Welding Consumables Market is Expected to Reach INR 45.37

Transparency Market Research has released a new market report titled “Welding Consumables Market – India Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.” According to the report, the welding consumables market in India was valued at INR 30.88 Bn in 2013 and is expected to reach INR 45.37 Bn by 2020, expanding at a CAGR of 5.6% between 2014 and 2020. In terms of volume, the market stood at 255.1 kilo tons in 2013.

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The welding industry in India comprises various large, medium and small companies that manufacture welding consumables. Large international players such as Lincoln Electric Company Pvt Ltd, ESAB India Limited, and Voestalpine AG (Bohler Welding Group India Pvt. Ltd.) compete with various medium and small companies based in India to provide services to end-user industries. Demand for welding consumables is directly proportional to steel production in the country. End-use industries such as transportation, building & construction, oil & gas, and power are likely to drive the welding consumables market in India in the near future. However, factors such as inconsistent supply of quality raw materials, shortage of skilled labor and competition from international companies may hamper market growth during the forecast period.

Welding stick electrodes dominated the welding consumables market in India with more than 45% share in 2013. Stick electrodes are primarily used in manual welding and are a low cost alternative to other types of welding consumables products. However, demand for wires and fluxes are anticipated to rise significantly during the forecast period due to their efficient performance. Factors such as lower wastage, suitability for automatic welding systems and outdoor work, higher productivity and wide usage among different welding technologies are likely to lead to increasing preference for solid and flux cored wires. The SAW wires and fluxes segment is projected to witness moderate growth, accounting for more than 7% share of the market in 2020. In terms of revenue, flux cored wires is anticipated to be the fastest growing product segment during the forecast period.

Growth in end-use industries (including transportation, and building & construction) is estimated to be the key factor driving the welding consumables market in India. Furthermore, increase in investments in energy and oil & gas sectors is anticipated to boost the welding consumables market in India. Automobile and transportation sector witnessed the largest application of welding consumables with more than 25% share in 2013. Power sector is likely to be the fastest growing segment, expanding at a CAGR of 5.8% during the forecast period from 2014 to 2020. Other applications such as wear plates and marine applications are projected to grow moderately in the next few years.

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The welding consumables market in India is moderately fragmented, as the top six players accounted for approximately 30% share of the market in 2013. Market leaders such as ESAB, Lincoln Electric, Ador Welding Ltd, and Voestalpine AG have strong presence in the welding consumables market in India. The welding industry in India comprises organized and unorganized companies. ESAB dominated the welding consumables market in the country in 2013. Bohler Welding Group India Pvt. Ltd. and Lincoln Electric followed ESAB in 2013. Additionally, many small players operate in the unorganized sector of the market.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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