Welding Equipment Contributing Large Share
Market Overview:
Welding consumables are welding rods, electrodes, fluxes and other materials that are used in arc welding, brazing and soldering. They are crucial for joining together two or more parts either permanently or temporarily as they provide energy to melt the parts and join them together. Some key advantages of welding consumables include providing strong and secure weld joints, ease of process and high strength among others. They are used across industries such as automotive, construction, shipbuilding, energy and fabrication among others.
Market key trends:
One of the key trends seen in the welding consumables market is the increasing demand for flux-cored wires. Flux-cored wires are versatile as they do not require an external shielding gas during welding. They provide smooth welding arc and the flux provides shielding during welding. These advantages have increased their popularity and demand, especially in applications requiring high deposition rates such as pipe and pressure vessel fabrication. Another major trend is the increasing use of advanced consumables such as solid wires in automated processes which provide more consistent welding properties and higher productivity.
Here is the segment analysis and key takeaways for the given Welding Consumables market research report:
Segment Analysis
The global Welding Consumables Market Share is segmented by product type, welding technique, end-use industry, and region. By product type, the welding wires segment dominated the market in 2022, accounting for around 35% of the overall market share. Welding wires are easy to use and offer better weldability, heat resistance, and corrosion resistance. This has increased their demand in industries such as automotive, construction, shipbuilding, and others.
By welding technique, the arc welding segment held the largest market share in 2022. Arc welding provides high welding speeds and deep weld penetration capabilities. It is commonly used in industries such as automotive, machinery, and shipbuilding due to its advantages.
Key Takeaways
The global welding consumables market size was valued at US$ 15.92 billion in 2022. It is expected to witness high growth, exhibiting a CAGR of 5.8% over the forecast period from 2023 to 2030, due to increasing infrastructure development and automotive production globally.
The Asia Pacific region dominated the welding consumables market in 2022 with a share of around 35%, followed by Europe and North America. The Asia Pacific region is expected to continue its dominance during the forecast period. Factors such as rapid urbanization, growing construction spending, and expansion of the automotive industry are fueling the growth of the welding consumables market in the Asia Pacific region.
Key players operating in the welding consumables market are Voestalpine AG, Arcon Welding Equipment, Colfax Corporation, Kemppi Oy, The Lincoln Electric Company, Tianjin Bridge Welding Materials Co., Ltd., Air Liquide, Fronius International GmbH, Hyundai Welding Co., Ltd., Denyo Co., Ltd., Obara Corporation, Illinois Tool Works Inc., Panasonic Corporation, and others.
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