Welding Products Market Analysis Growth Challenges, Opportunities, and Future Developments to 2027

Key Drivers of Welding Products Market

Rapid infrastructural development and technological advancements primarily in the automotive industry are anticipated to boost demand over the forecast period. Growing demand for resistant welding technology from numerous applications mainly in the automotive industry for maintenance and repair are the key factors propelling the demand for welding products.

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Automotive and Building & Construction to Foster Welding Products Market Growth

Construction industry has been flourishing for quite some time now and has evolved at a drastic pace. Urbanization due to ever expanding population has mounted pressure for more residences to be built. Rising demand for buildings is likely to trigger growth of the global welding products market over the assessment timeframe. Changes in automobile designs and rise in demand for automobiles, especially in developing countries, are likely to drive the global welding products market. Additionally, repair and maintenance of automobiles is projected to add to the global demand for welding products.

Arc Welding Technology to Lead Welding Products Market

Key technology segments of welding products include arc welding, resistant welding, oxy-fuel welding and laser beam welding. The versatility of arc welding technique plays a key role in its overall appeal to end-users, thereby challenging the market share of other welding technology segments. Arc welding accounted for more than 40% of the global welding products market in 2018.

Shielded metal arc welding (SMAW), gas metal arc welding (GMAW) also known as metal inert gas (MIG) or metal active gas (MAG) welding, and gas tungsten arc welding (GTAW welding) are the commonly used arc welding techniques.

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 Stick Electrodes to Dominate Welding Products Market

Welding consumables account for larger share of the global welding products market. Electrodes and filler metals are the key consumables used in different welding processes. Molten melt tends to spill out during the process of out-of-position welding. Electrode helps avoid the spill through fast freezing deposit. Stick electrodes are commonly used in the shielded metal arc welding (SMAW) process. Solid wires accounted for the second largest market share in the welding consumables market in 2018. The use of solid wires has been growing with increase in the use of high-performance alloys in these wires.

Asia Pacific Dominates Welding Products Market

Growth of the Asia Pacific is attributed to demand for arc welding in the numerous industries including building and construction, automobile, and manufacturing. Presence of numerous manufacturing firms across emerging countries including India and China is expected to fuel demand for welding products market. China, Japan, and India were key contributors to the welding products market in Asia Pacific in 2018. Small welding consumable suppliers are mushrooming in China, due to rise in demand for welding products in building & construction and automobile application segments.

Top Players Focus on New Product Offering with Advanced Technology

Some of the key players operating in the global Welding Products market are ESAB, Fronius International GmbH, Illinois Tool Works Inc., Lincoln Electric, Amada Miyachi America, Inc., Arcon Welding Equipment, LLC, Obara Corporation, and DAIHEN Corporation. The global welding products market is moderately concentrated, with the top three players accounting for more than 32% of the market in 2018. In 2019, Lincoln Electric introduced POWER MIG 360MP welder, which has advanced features ideal for metal fabrication, maintenance and repair, and auto body and light industrial applications. The company offers an inverter-based arc welding power source for AC/DC TIG and stick welding.

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 Global Welding Products Market: Research Scope

Welding Products Market, by Consumables

Stick Electrode

Solid Wires

Flux-cored Wires

SAW Wires & Fluxes

Gases

Welding Products Market, by Technology

Arc Welding

Resistance Welding

Oxy-fuel Welding

Laser-beam Welding

Ultrasound Welding

Welding Products Market, by Application

Automobile & Transportation

Building & Construction

Marine

Repair & Maintenance

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Upcoming Welding Technologies in Welding Products Market

Resistant welding, oxy-fuel welding, and laser beam welding are projected to be most attractive segments if the global welding products market. Oxy-fuel welding includes any welding operation that uses combustion with oxygen as a heating medium. It is a versatile and affordable welding technique. Oxy-fuel welding is ideally suited for repair welding and welding thin sheets, tubes, and small diameter pipes.

Resistant welding is an economical welding technique. It does not require a filler material and is ideal for joining vehicle body parts, fuel tanks, domestic radiators, pipes of gas, oil and water pipelines, wire ends, turbine blades, and railway tracks.

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