Demand for welding services and solutions and expansion in general fabrication and manufacturing to boost the Asia Pacific arc welding equipment market

Asia Pacific all set to dominate over North America with a US$ 750 Mn opportunity by 2025

Asia Pacific is projected to create a total incremental $ opportunity of more than US$ 1,100 Mn between 2017 and 2025. The region is expected to account for more than 30% share of the global market absolute $ incremental opportunity. Among all the assessed regions, Asia Pacific is projected to account for a relatively large market share in terms of both value and volume, while Latin America will account for a relatively low market share in terms of value by 2025. Among all the Asia Pacific countries, China is projected to account for a relatively large market share in terms of both value and volume, while ASEAN countries will account for a relatively low market share in terms of value by 2025.

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Demand for welding services and solutions and expansion in general fabrication and manufacturing to boost the Asia Pacific arc welding equipment market

Economic growth in Asia Pacific countries such as China, India and South Korea is likely to accelerate in the coming years, which essentially means that there will also be an increase in construction and manufacturing activities in the region. This will lead to higher demand for arc welding equipment, which in turn is estimated to boost the demand for arc welding gases. Various parameters of arc welding equipment, such as cost effectiveness, strong weld and ease of operation add to the demand for arc welding equipment in the APAC region for applications such as energy, automotive & transportation, construction, ship building and metal fabrication and processing. The arc welding sector and arc welding gases industry are related to each other as far as economic gains and losses are concerned. Growth in one sector is almost always a good indicator of growth in the other and vice versa.

The Asia Pacific arc welding equipment market is likely to be driven by expansion activities in general fabrication and manufacturing, especially owing to the growth in the automotive, construction, shipbuilding and oil & gas industries. Initiatives taken by governments to expand fabrication and manufacturing activities by encouraging foreign investment in countries such as Thailand, Myanmar, Indonesia and Philippines is anticipated to spur the demand for arc welding equipment and gases. Moreover, a majority of manufacturers are shifting their manufacturing operations to South Asian countries such as Thailand, Vietnam and Indonesia owing to labour arbitrage, geographical advantages and a steadily growing skill base. Also, the recent ‘Make in India’ campaign and increased FDI is driving the growth of various manufacturing industries in India. These factors will fuel the growth of the arc welding equipment market in the Asia Pacific and subsequently contribute to global market growth.

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Slow adoption of advanced arc welding technologies and low price offering by local players will restrain revenue growth of the Asia Pacific arc welding equipment market

Slow adoption of advanced arc welding technologies such as plasma arc welding, electro gas arc welding and submerged arc welding in Asia Pacific countries such as India, Thailand, Myanmar, Indonesia and Philippines is a major restraint for the growth of the arc welding equipment market in the APAC region. Cost sensitivity in Asia Pacific countries is another factor hampering investments in advanced arc welding technologies.

Local manufacturers hold a significant share in the arc welding gases market. Local players offer their products at a relatively low cost, resulting in high market competition and therefore compel manufacturers to sell at lower costs. In short, the sales of welding gases/mixtures namely argon, argon/carbon dioxide mixture and carbon dioxide is being challenged by local players who offer their products at a lower price, forcing international gas companies to carefully choose what segments they want to play in.

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