EMEA Welding Consumables Market Likely to Touch US$4.55 bn by 2020

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The Europe Middle East and Africa (EMEA) welding consumables market is marked by the prominence of a few large companies such as Voestalpine AG, ESAB, Lincoln Electric, and ITW. ESAB, however, emerged as the clear leader holding almost 15% of the market share in 2013. Some other leading vendors in the EMEA welding consumables market include Welding Alloys Ltd., Valk Welding B.V., Afrox, and Air Liquide. Players in the market have adopted the organic and inorganic growth route to bolster their position.

EMEA welding consumables market will display a positive, albeit modest, growth during the forecast period between 2014 and 2020. Expanding at a CAGR of 4.3% over the forecast period, the market’s valuation of US$3.3 bn in 2013 will become US$4.55 bn by 2020. Vis-à-vis volume, the market displayed a demand worth 1,236.2 kilo tons in 2013.

Among the key types of welding consumables, the demand for stick electrodes surpasses amongst other segments in the Middle East and Africa. On the other hand, the segments of wires and fluxes display more demand over other segments in developed countries in Europe.

Key application segments of EMEA welding consumables market include automobile and transportation, building and construction, marine, and others. The construction segment is witnessing tremendous growth leading to the upsurge in demand for welding consumables in the region. Geography-wise, the market is segregated into Africa, Europe, and the Middle East.

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Growth of Construction Sector Bodes Well for Market

The EMEA welding consumables industry is treading a growth path over the past couple of years owing to the growth of several end-use industries such as automotive and oil and gas. While the Europe welding consumables market is likely to witness moderate growth, economic development in emerging economies of Africa and the Middle East are likely to augment the demand for welding consumables in this region.

The growth of the construction sector is a key factor behind the demand for welding consumables. This is to serve the rising demand for industrial complexes and residential complexes with rampant industrialization and urbanization in the developing nations of the Middle East and Africa. The tremendous growth of the automobile industry across Europe and the Middle East and Africa, which accounts as a key end user of welding consumables, is leading to a remarkable growth of the welding consumables market in the region.

The proliferation of welding automation technology, especially in fabrication operations is a major factor fueling the growth of welding consumables market across EMEA. In addition, shortage of skilled labor in manufacturing industries account for the adoption of welding automation technology. On the other hand, high labor cost is the key factor behind the demand for welding automation technology, particularly in the developed nations of Europe.

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High Labor Cost in Europe Hampers Growth

On the flip side, the growth of welding consumables market is likely to be hampered due to lack of skilled labor and high cost of skilled labor in developed regions of Europe and the Middle East.

Advances in welding technology and adoption of the same, especially in European countries is likely to bode well for the welding consumables market. Contrarily, sluggish demand for advanced welding technologies in under developed regions of Africa is likely to challenge growth of the EMEA welding consumables market.

The review presented is based on the findings of a TMR report, titled “Welding Consumables Market - EMEA Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”

The EMEA welding consumables market is segmented as follows:

Welding Consumables Market - Product Segment Analysis

· Stick electrodes

· Solid wires

· Flux-cored wires

· SAW wires and fluxes

· Others (Including gases, etc.)

Welding Consumables Market - Application Analysis

· Automobile & transportation

· Building & construction

· Marine

· Others (Including repair and maintenance, etc.)

Welding Consumables Market - Regional Analysis

· Europe

· The Middle East

· Africa

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