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Press Release
Welding Consumables Market is expected to grow CAGR of 4.5% by 2030
Fortune Business Insights recently released “The Welding Consumables Market Report 2024,” offering in-depth market analysis and critical insights to help clients gain a competitive edge. This comprehensive study delivers key findings for strategic advantage.
Welding Consumables Market Share, Size & COVID-19 Impact Analysis, By Type (Stick Electrodes, Solid Wires, Flux-cored Wires, and SAW Wires & Fluxes), By Welding Technique (Arc Welding, Resistance Welding, Oxy-fuel Welding, Solid State Welding, and Others (Electron Beam Welding)), By Application (Automotive, Building & Construction, Heavy Engineering, Railway & Shipbuilding, Oil & Gas, and Others (Aerospace)), and Regional Forecast, 2023-2030
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The market’s competitive landscape for welding consumables market is evaluated by analyzing key industry players, their production capacities and utilization rates, welding consumables marketM’s production chain, manufacturer pricing, and the revenue each manufacturer generates globally in the welding consumables marketM sector.
Major companies of welding consumables market:
- Lincoln Electric (U.S.)
- KOBE STEEL, LTD (Japan)
- ESAB (U.S.)
- CS HOLDINGS CO., LTD. (Korea)
- Hyundai Welding Co., Ltd (U.S.)
- Panasonic Corporation (U.S.)
- Fronius International GmbH (Austria)
- RME MIDDLE EAST (UAE)
- voestalpine BÖHLER Edelstahl GmbH (Austria)
- Tianjin Golden Bridge Welding Materials Group International Trading Co., Ltd. (China)
Market atributes:
| Report Componant | Aspects |
| Forecast Period | 2022-2030 |
| Projected Market Value for 2022: | USD 12.61 billion |
| Forecasted Market Value for 2030: | USD 17.66 billion |
| Compound Annual Growth Rate (CAGR): | 4.5 |
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Key Drivers and restraints:
- Driver: Growing Demand in Construction and InfrastructureThe expansion of construction and infrastructure projects globally increases the demand for welding consumables used in structural steelwork, pipelines, and other critical applications.
- Driver: Technological AdvancementsInnovations in welding technologies and materials, such as improved electrode formulations and fluxes, enhance the performance and efficiency of welding processes, driving market growth.
- Driver: Rise in Automotive and Manufacturing IndustriesThe growth of the automotive and manufacturing sectors, which require high-quality welding for vehicle assembly and machinery production, boosts the demand for various welding consumables.
- Restraint: Volatile Raw Material PricesFluctuations in the prices of raw materials used in welding consumables, such as metals and alloys, can impact production costs and market stability, potentially affecting market growth.
- Restraint: High Initial Investment for Advanced TechnologiesThe high costs associated with investing in advanced welding technologies and consumables can be a barrier for smaller businesses and new entrants in the market.
Regional atributes:
- North America (By Type, By Welding Technique, By Application, and By Country)
- U.S. (By Type)
- Canada (By Type)
- Europe (By Type, By Welding Technique, By Application, and By Country)
- U.K. (By Type)
- Germany (By Type)
- France (By Type)
- Italy (By Type)
- Spain (By Type)
- Rest of Europe
- Asia Pacific (By Type, By Welding Technique, By Application, and By Country)
- China (By Type)
- Japan (By Type)
- India (By Type)
- Southeast Asia (By Type)
- Rest of Asia Pacific
- Middle East and Africa (By Type, By Welding Technique, By Application, and By Country)
- GCC Countries (By Type)
- South Africa (By Type)
- Rest of Middle East and Africa
- Latin America (By Type, By Welding Technique, By Application, and By Country)
- Brazil (By Type)
- Mexico (By Type)
- Rest of Latin America
Industry developments:
- February 2023: Miller Electric Mfg. LLC, which is considered as one of the prominent manufacturers of welding equipment and consumable products, has recently unveiled its Copilot collaborative welding system. This system will enable welders to achieve better quality of welding and optimize the use of consumables enabling the users to meet with augmented demand.
- May 2022: Lincoln Electric, which is engaged in development, manufacturing, and supply of welding equipment and consumables across diverse geographies, has increased diversity in its existing product portfolio by offering Hyperfill solutions into its Flux-Cored wire applications.
- February 2022: Miller Electric Mfg., which offers arc welding equipment under its brand name Miller, has recently announced that the company is venturing into a collaboration with NCCER (National Center for Construction Education & Research). The collaboration efforts will provide NCCER welding level 1 and 2 to integrate its augmented reality welding system.
- July 2022: Lincoln Electric, which is a U.S. based provider of welding consumables and equipment, has recently launched its newly developed Power MIG 215 MPi Multi-Process Welder. The welder is designed to have economical advantage and also does have a robust design.
- October 2021: ESAB Welding launched the new Cored Wire Welders/EM 210 MIG and EMP 210 MIG/TIG Welders/Sticks. These inverter-based power supplies are compact yet provide professional-grade power and performance for most car/truck repair and restoration, light duty manufacturing and construction, and HVAC operations.
Table of Content :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Merger, Acquisitions, and Partnerships
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Developments
- Value Chain Analysis
TOC Continued…!
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