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 “Welding Consumables Market Size, Share and Industry Analysis, By Type (Stick Electrodes, Solid Wires, Flux-cored Wires and SAW Wires and 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%.
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.
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The Prominent Players Operation 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.
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 and 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 revenue.
Solid Wires Segment Will Account For Maximum Share at a Global Level
As per the report, the 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. 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 the growth of the market. Moreover, the rising import and export of welding consumables is another factor expected to have a positive impact.
However, the unavailability of the skilled labor force is expected to hamper the market growth. In addition, the lack of investments in rigorous training and development of local labors is leading towards the shortage of skilled workforce.
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Market Segmentation Of Welding Consumables Market –
- Stick Electrodes
- Solid Wires
- Flux-cored Wires
- SAW Wires and Fluxes
- Heavy Engineering
- Automotive and Transportation
- Others (Oil and Energy, Aerospace and Defense
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
- Middle East and Africa (South Africa, GCC and Rest of the Middle East and Africa)
- Latin America (Brazil, Mexico, and Rest of Latin America)
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