Welding Products Market - Positive Long-Term Growth Outlook 2020
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According to the report, the global welding products market is expected to rise from US$19,080.3 mn in 2015 to US$23,777.5 mn by 2020. By technology, the resistant welding segment will continue to lead through 2020, accounting for 26.8% of the market. On the basis of product, the stick electrodes segment led in the past and will continue to do so, accounting for 40.9% of the market by 2020. By application. The automobile and transportation segment, closely followed by the building and construction segment will lead in the global welding products market by 2020. The automobile and transportation segment is estimated to account for 17.8% of the market by 2020. On the basis of geography, Asia Pacific will lead and is projected to account for 43.8% of the market by 2020.
Revamping of Oil and Gas Infrastructure and Pipelines to Drive Market
The growth of the automotive industry is one of the key factors driving the global welding products market, as metals used in automobiles are joined using welding. The repair and maintenance of automobiles are also creating a need for welding products, thus driving the market worldwide. Another factor driving the global welding products market is the growth of the building and construction sector. Welding comprises an important process used in building and construction activities. The growth of the construction and infrastructural activities in Asia Pacific is driving the demand for welding products.
Furthermore, the oil and gas industry is also a key consumer of welding products. Welding products are extensively used for revamping of oil infrastructure and also for the construction of new pipelines and manufacturing facilities. A rise in safety concerns in the oil and gas industry is fueling the need for replacing older pipelines and installing new ones in future. In addition to this, the growth of the oil and gas drilling activities has given rise to an increase in offshore rigs. This in turn is creating a need for welding processes, driving the demand for welding equipment and consumables
Lack of Trained and Skilled Labor to Pose a Problem
Trained and skilled labor is one of the crucial factors for the success of the welding industry. Developed countries are faced with high labor cost, leading to high production prices and this is subsequently impacting the profit margins of manufacturers. Moreover, the shortage of skilled labor is hampering the welding process. A lack of skilled labor to handle new technologies being developed by key players in the welding industry will also restrain the market. “Manufacturers are unable to provide quality services to customers owing to a lack of skilled labor,” says a TMR analyst. However, the growth of the wind power industry will act as an opportunity for growth in the coming years. As the need for efficiency arises in wind tower fabrication, there will an increase in the construction of wind turbines, driving the demand for welding products.
This information is based on the findings of a report published by Transparency Market Research, titled “Welding Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020.”
The global welding products market is segmented as follows:
Welding Products Market - Technology Analysis
Laser beam welding
Others (ultrasound welding, etc.)
Welding Consumables Market - Product Segment Analysis
SAW wires and fluxes
Others (gases, etc.)
Welding Products Market - Application Analysis
Automobile and transportation
Building & construction
Others (repair and maintenance, etc.)
Welding Products Market - Regional Analysis
Rest of the World (RoW)
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend 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.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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