Pune, Nov. 07, 2019 (GLOBE NEWSWIRE) — The rising construction activities around the world is a key factor driving the global Welding Consumables Market, says Fortune Business Insights in a report, titled “ Size, Share & Industry Analysis, By Type (Stick Electrodes, Solid Wires, Flux-cored Wires and SAW Wires & Fluxes), By Application (Heavy Engineering, Automotive, Railways, Construction, Shipbuilding and Others) and Regional Forecast, 2019-2026.” The global welding consumables market was valued at USD 13.79 Billion in 2018 and is expected to reach USD 23.28 Billion by 2026, exhibiting a CAGR of 6.8%.
As per the report, the global welding consumables market on the basis of type is segmented into stick electrodes, solid wires, flux-cored wires and saw wires & fluxes. The solid wires segment will account for maximum shares in the global welding consumables market during the forecast period owing to the increasing urbanization around the world. In addition, the rapid growth in the construction industry is expected to further contribute to the solid wires segment, which, will, in, turn boost the global welding consumables market revenue.
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The report offers innovative solutions to assist companies operating in the global welding consumables market. It provides comprehensive data which involves, segments, market analysis, regional analysis, recent advancement and development, market drivers and growth restraints.
Robust Advancement in Infrastructure Will Aid Growth
The surge in construction activities and increasing demand for new infrastructure in developed and developing countries will create growth opportunities for the global welding consumables market. The surge in population, industrialization and urbanization will fuel demand for welding consumables and enable growth of the global welding consumables market. Furthermore, the rising investments in the construction sector by key players will accelerate the growth of the global welding consumables market. For instance, according to the India Brand Equity Foundation (IBEF), leading players in manufacturing, technology and construction sectors are investing out of India, which, will, in, turn uplift the welding consumables shares during the forecast period.
Solid Wires Segment Will Account For Maximum Share at a Global Level
As per the report, the global welding consumables market on the basis of type is segmented into stick electrodes, solid wires, flux-core wires and SAW wires and fluxes. The solid wires will hold major shares in the global welding consumables market owing to the rapid industrialization and urbanization. The introduction of new GTAW (TIG) by Lincoln electric is predicted to boost the global welding consumables market growth. Lincoln Electric introduced new GTAW (TIG) cut lengths with high silicon formulations using stainless steel alloys for the clean and high-quality welding process. Upgraded manufacturing processes for the new products are enhancing the quality of the product by reducing complexities in the welding process. In addition, the increasing usage of welding equipment and welding consumables around the world is expected to facilitate growth of the global welding consumables market. Moreover, the rising import and export of welding consumables is another factor expected to have a positive impact on the global welding consumables market.
However, the unavailability of the skilled labor force is expected to hamper the welding consumables market growth. In addition, the lack of investments in rigorous training and development of local labors is leading towards the shortage of skilled workforce. This factor is expected to inhibit the growth of the global welding consumables market.
List of Prominent Players Operating in the Global Welding Consumables Market Are:
- Colfax Corporation
- The Lincoln Electric Company
- Hyundai Welding Co. Ltd.
- Obara Corporation
- Panasonic Corporation
- Fronius International GmbH
- Arcon Welding Equipment
- Ador Welding Ltd.
- Denyo Co., Ltd.
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Table of Content:
- Definition, By Segment
- Research Approach
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends of Market
- Key Insights
- Macro and Micro Economic Factors
- Key Technological Developments
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Welding Consumables Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Type (Value)
- Stick Electrodes
- Solid Wires
- Flux-cored Wires
- SAW Wires & Fluxes
- Market Sizing Estimations and Forecasts – By Application (Value)
- Heavy Engineering
- Automotive and Transportation
- Others (Oil & Energy, Aerospace & Defense, etc.)
- Market Analysis, Insights and Forecast – By Geography (Value and Volume)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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