Welding Consumables Market Report on the Untapped Growth Opportunities in the Industry

Welding Consumables Market Growth

Demand for welding consumables is closely tied to infrastructure development projects, such as construction of buildings, bridges, highways.

WILMINGTON, DELAWARE, UNITED STATES, November 21, 2023 /EINPresswire.com/ -- The welding consumables market valued for $16.1 billion in 2022 and is estimated to reach $27.5 billion by 2032, exhibiting a CAGR of 5.5% from 2023 to 2032.

Demand for welding consumables is closely tied to infrastructure development projects, such as construction of buildings, bridges, highways, and pipelines. As countries invest in infrastructure development, there is a growing need for welding to join and fabricate structural components.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/2534

𝐏𝐫𝐢𝐦𝐞 𝐝𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐠𝐫𝐨𝐰𝐭𝐡

The global welding consumables market is driven by robust demand from automotive and transportation sector. Welding is an integral part of the automotive and transportation industry for manufacturing vehicles, trailers, and components. As this industry evolves with new technologies and materials, the demand for welding consumables, including specialized ones for aluminum and high-strength steel continues to grow. Thus, driving the demand for welding consumables. However, competition from welding alternatives may restrain the growth of the welding consumables market.

𝐓𝐡𝐞 𝐞𝐥𝐞𝐜𝐭𝐫𝐨𝐝𝐞𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on type, the electrodes segment accounted for the largest share in 2022, contributing to nearly one-third of the global welding consumables market revenue. As urbanization and infrastructure development continue to rise globally, there is a growing demand for welding in the construction of buildings, bridges, roads, and other infrastructure projects. Electrodes are commonly used in various welding processes to join structural components, reinforcing the demand for electrodes. Furthermore, many industries, including automotive, aerospace, shipbuilding, and manufacturing, rely heavily on welding processes to fabricate and assemble components. The expansion of these industries leads to increase in need for electrodes for various welding application thus, fueling the market growth.

𝐓𝐡𝐞 𝐚𝐫𝐜 𝐰𝐞𝐥𝐝𝐢𝐧𝐠 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on the welding technique, the arc welding segment accounted for the largest share in 2022, contributing to nearly one-third of the global arc welding market revenue. Arc welding is a versatile process that can be applied to a wide range of materials, including carbon steel, stainless steel, aluminum, and various alloys. Its versatility makes it suitable for a broad spectrum of applications across different industries. Furthermore, arc welding is often considered a cost-effective welding process. The equipment and consumables required for arc welding are relatively affordable as compared to some other welding methods, making it an attractive option for many businesses. Moreover, while mastering any welding process requires training and skill development, arc welding is often considered more accessible for beginners as compared to some of the more complex processes. This accessibility makes it a popular choice for training programs and welding schools. These factors are expected to drive the welding consumables market for arc welding technique to witness a significant growth.

𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 𝟐𝟎𝟑𝟐

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global welding consumables market and is projected to register the highest CAGR of 6.0% during the forecast period. The ongoing industrialization and urbanization in countries such as China and India are the major drivers of the welding consumables market. Increase in construction, manufacturing, and infrastructure development activities contributes to the market growth. Moreover, infrastructure projects, including the construction of buildings, bridges, roads, railways, and energy facilities, drive the demand for welding consumables.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: -

- THE LINCOLN ELECTRIC COMPANY

- KOBE STEEL, LTD.

- ESAB

- DANDH SCHERON

- VDM METALS

- WELDCOM ELECTRODES PVT. LTD.

-ROYAL ARC

- ESS AAR INDUSTRIES

- SENOR METALS PVT. LTD.

- SHARP ELECTRODES (P) LTD.

The report provides a detailed analysis of these key players in the global welding consumables market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝟑𝟑𝟎 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) @ https://bit.ly/3tN9ned

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

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