Welding Consumables Market: Highlight the Opportunities to Elucidate Imminent Investment Pockets

Welding Consumables Market by Type, End-user Industry, and Welding Technique: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global welding consumables market was valued at $12,405 million in 2016, and is projected to reach $18,286 million by 2023, growing at a CAGR of 5.7% from 2017 to 2023. The solid wires segment was dominant, accounting for around half of the market share in 2016.

Welding materials are magnetic flux materials and liquid fillers in the welding process to create strong joints. The choice of welding materials depends on the type of final use. Growth in the construction and automotive industry, increasing the number of applications in various industries, increasing the use of welding materials for the purpose of repair and maintenance and increasing investment in full energy infrastructure demand promotes market growth. More than 90% of welding consumables and welding equipment products are sold through dedicated partners, system integrators and distributors.

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The energy segment is forecast to grow at a significant CAGR during the forecast period due to the growth in the amount of investment in renewable energy sources, stimulating demand for new projects. Asia-Pacific is expected to grow at the highest rate, thanks to the large number of proposed and proposed energy projects in China & India.

Fire segment & SAW throughput is predicted to have the greatest demand in the wind field, while the increase in the number of thermal projects is expected to boost the growth of sticky electrodes and solid wires. Delay in nuclear power projects, especially in North America and Europe, restrains the global market in the energy industry.

Key Findings of the Welding Consumables Market:

• Asia-Pacific is expected to lead the market during the forecast period, followed by Europe.

• The flux cored wires segment is expected to show the highest growth rate by type in Europe, registering a CAGR of 6.9% from 2017 to 2023.

• The energy segment is expected to show the highest growth, registering a CAGR of 6.5%.

• South Africa accounted for 7.8% share, in terms of volume, in the LAMEA welding consumables market in 2016.

• UK accounted for 9.95% share, in terms of revenue, in the European welding consumables market, in 2016.

• India is expected to grow at the highest CAGR of 7.7% in the Asia-Pacific region.

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The arc welding segment accounted for the maximum share, in terms of both volume and revenue, in 2016 due to its low-cost welding solution, which requires minimal equipment, high heat concentration, enhanced corrosion resistance, and uniformity in metal deposition. Furthermore, the high heat concentration utilized increases penetration depth and speedup welding operation. Shielded metal arc welding (SMAW), gas metal arc welding (GMAW), flux cored arc welding (FCAW), and gas tungsten arc gas welding (GTAW) are the most popular procedures utilized in the welding industry.

Top Key Players:

Top key players :

• Colfax Corporation (U.S.)
• Fronius International GmbH (Austria)
• Hyundai Welding Co.Ltd. (Singapore)
• Illinois Tool Works Inc. (U.S.)
• Kemppi Oy. (Finland)
• Obara Corporation (Japan)
• Panasonic Corporation (Japan)
• The Lincoln Electric Company (U.S.)
• Tianjin Bridge Welding Materials Group Co.Ltd. (China)
• Voestalpine Bhler Welding GmbH (Germany).

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