Welding Consumables Market Growth, Revenue, and Key Players by 2024
Analyze growth opportunities, revenue insights, and key players in the Welding Consumables Market up to 2024.
The study of the global Welding Consumables Market is presented in the report, which is a thoroughly researched presentation of the data. The analysis delves into some of the key facets of the global Welding Consumables Market and shows how drivers like pricing, competition, market dynamics, regional growth, gross margin, and consumption will affect the market’s performance. A thorough analysis of the competitive landscape and in-depth company profiles of the top players in the Welding Consumables Market are included in the study. It provides a summary of precise market data, including production, revenue, market value, volume, market share, and growth rate.
The best investment markers are insights into the most prominent market trends, which help potential participants make decisions even easier. The research aims to discover the numerous growth chances that readers may take into consideration and take advantage of using all the necessary information. The market growth over the coming years can be predicted with greater accuracy by carefully examining the important growth-influencing aspects including pricing, production, profit margins, and value chain analyses.
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Market Summary:
The global welding consumables market size was valued at USD 12.98 billion in 2023. The market is projected to grow from USD 13.40 billion in 2024 to USD 19.95 billion by 2032, exhibiting a CAGR of 5.1% during the forecast period.
The Welding Consumables Market has grown significantly due to factors such as increased product demand, an expanding client base, and technological advancements. This report provides a comprehensive overview of the industry, covering market size, trends, key drivers and challenges, competition dynamics, and potential growth opportunities. Recent Industry Developments:
- 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.
- 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.
- 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.
- 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.
- 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.
Key Players:
- 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)
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Market Overview:
- Current Market Trends: Analysis of the latest developments shaping the market landscape.
- Segmentation Analysis: Breakdown of the market by key segments and regional dynamics.
- Pricing Strategy Evaluation: In-depth examination of pricing trends within the industry.
- COVID-19 Impact Assessment: Exploration of how the pandemic has affected market behaviors and trends.
- Market Projections: Forecasting future market growth and potential shifts.
Key Report Highlights:
- Insight into the primary growth drivers and challenges facing the market.
- An extensive review of regional advancements and their implications.
- A compilation of leading industry players and their market positions.
- Strategies employed by significant market participants.
- Updates on recent industry movements, including product launches and mergers.
- Analysis of factors that may restrict growth and the regional market presence affecting trends beyond 2032.
This market research report is meticulously crafted to deliver a thorough understanding of the industry’s trajectory, equipping businesses with the insights necessary for strategic decision-making. The Welding Consumables Market Report spans over 130+ pages and includes a detailed table of contents featuring figures, tables, graphs, and comprehensive analysis.
Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Key Insights
- Industry Developments (Mergers, Acquisitions, Partnerships)
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Innovations
- Value Chain Analysis
- TOC Continued…
This study presents a detailed view of the market landscape, categorized by sub-regions and countries. It identifies potential profit avenues, alongside market share and growth forecasts for each geographical area.
Segmentation of this report:
Welding Consumables Market Size, Share & 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
Welding Consumables Market Drivers & Restrains:
- Driver: Growing Demand in Construction and Infrastructure
The expansion of construction and infrastructure projects globally increases the demand for welding consumables used in structural steelwork, pipelines, and other critical applications.
- Driver: Technological Advancements
Innovations 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 Industries
The 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 Prices
Fluctuations 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 Technologies
The high costs associated with investing in advanced welding technologies and consumables can be a barrier for smaller businesses and new entrants in the market.
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