|08-01-2017 02:06 PM CET - IT, New Media & Software||
Research Report Analyzes Why Manufacturers & Investors are focusing on the Welding Consumables Industry
Press release from: Big-Research
Big Market Research added a report on “Welding Consumables Market By Type (Stick Electrodes, Solid Wires, Flux Cored Wires, And SAW Wires & Fluxes), End-User Industry (Aerospace & Defense, Automotive & Transportation, Construction, Energy, Heavy Machinery, Shipbuilding, And Process & Others), Welding Technique (Arc Welding, Resistance Welding, Oxy-Fuel Welding, Laser-Beam Welding, And Others) - Global Opportunity Analysis And Industry Forecast, 2017-2023”
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The global welding consumables market was valued at $12,405 million in 2016, and is expected to reach at $18,286 million in 2023, growing at a CAGR of 5.7% from 2017 to 2023. Welding is a fabrication process performed to join materials, such as alloys and metals, efficiently by means of coalescence. It is an effective and economical process for creating strong joints among two or more parts of metal. The flux & filler metals used in welding industry are known as welding consumables. These consumables melt during the course of welding to produce a firm joint. Flux is commonly utilized to create a shield of gas around weld pool to prevent oxidation of hot metals. It acts as a deoxidizer, which prevents formation of pores in weld pool. These consumables are applicable in numerous end-user industries, such as automotive & transportation, construction, energy, and others. Growth of welding industry is highly dependent upon global steel consumption across various end-user industries.
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The global welding consumables market is driven by rise in number of applications across numerous end-user industries, growth in automotive & construction industry, and increase in global energy infrastructure investment. In addition, surge in use of welding consumables for maintenance & repair of existing products supplements the market growth. Asia-Pacific is expected to grow at the highest CAGR during the forecast period due to increase in construction activities, especially in the developing economies such as India and China. In addition, foreign direct investments (FDI) in wind and thermal industries play a significant role in growth and development of welding consumables market in this region. Slow adoption of innovative welding technologies in the developing countries, customer price sensitivity, and sluggish growth of shipbuilding and aerospace & defense sector limits the market growth. However, growth in need for welding automation technology, especially in the developed economies, is anticipated to provide lucrative opportunities for the market expansion.
The global welding consumables market is segmented on the basis of type, end-user industry, welding technique, and geography. Based on type, it is divided into stick electrodes, solid wires, flux cored wires, and SAW wires & fluxes. On the basis of end-user industry, it is classified into aerospace & defense, automotive & transportation, construction, energy, heavy machinery, shipbuilding, and process & others. On the basis of welding technique, the market is bifurcated into arc welding, resistance welding, oxy-fuel welding, laser-beam welding, and others. Geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.
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• This report provides a quantitative analysis of the current trends and estimations from 2017 to 2023 of the global welding consumables market to identify the prevailing market opportunities.
• Major countries in each region are mapped according to individual market revenue.
• Comprehensive analysis of factors that drive and restrict the market growth is provided.
• An in-depth analysis of current research & clinical developments within the market is provided with key dynamic factors.
• Key players and their key developments in the recent years are listed.
KEY MARKET SEGMENTS
• Stick Electrodes
• Solid Wires
• Flux Cored Wires
• SAW Wires & Fluxes
By End-user Industry
• Aerospace & Defense
• Automotive & Transportation
• Heavy Machinery
• Process & Others
By Welding Technique
• Arc Welding
• Resistance Welding
• Oxy-fuel Welding
• Laser-beam Welding
• North America
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