For instance, Voestalpine Böhler has acquired Selco s.r.l., a prominent welding machine producer in Italy. The company is aiming to become a full welding solutions provider in the welding sector and fortify its market position. It will also offer a seamlessly coordinated combination of welding machines and welding consumables.
Market players are inclining towards automation at diverse stages in the welding process. Technological advancements such as use of computer assisted welding techniques and welding robots are changing modern day welding landscape. These developments are expected to spur growth in the global market.
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Welding contributes to the accomplishment of various tasks across several key industries, including aircraft manufacturing, shipbuilding, defense, and construction. Welding plays a significant role in extending life and repair of manufactured products.
While there are several technological advancements that are improving the end product, the welding market along with other manufacturing facilities are anticipated to be benefited by the advent of the “Internet of Things”. It has allowed a manufacturer to make its operational processes leaner and has helped in speeding up the existing processes to reduce waste.
FMI’s report on the market provides a comprehensive overview, addressing key market dynamics. Some of the takeaways from the report are as follows:
- The global welding consumable market is estimated to be valued at US$ 26.82 Bn towards 2030 end
- Europe spearheads the global market backed by rising demand from the energy sector
- East Asia has emerged as a highly attractive welding consumables market backed by rising investment in infrastructural development and presence of a strong industrial base in China, Japan, and South Korea
- Stick electrodes remain the frontrunner in the consumables category over the forecast period.
- Arc welding type will reflect lucrative growth prospects during 2020-2030.
- Construction end use segment is projected to hold maximum sway in the market.
“End users across industries are partnering with key companies to experiment and obtain product that best suits their requirements. Companies are focusing on improving product lines to cater different types of welding technologies and therefore different applications and end use industries.,” said a lead analyst at FMI.
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Market Key Player:
Companies operating in the market are focusing on improving their technological strength to stay ahead of the competition in the market. Players are fortifying their market position in regional markets by partnering with end use sector to comprehend and offer what they necessitate. Efforts are made to improve production to cater domestic demand in addition to export products to enhance profitability and market share.
Major companies identified in the global market include Colfax Corporation, Voestalpine AG, Kobe Steel Limited, Illinois Tool Works Inc, Linde Plc, Taiyo Nippon Sanso Corporation, Air Liquide S.A., Air Products and Chemicals Inc., MESSER Group GmbH, Hyundai Welding Co Ltd., EWM AG, Ador Welding Limited, WB Alloy Welding Products Limited, FSH Welding Group, GCE Group and Industrial Welding Corporation.
To Know More About Welding Consumables Market:
A new market research report published by Future Market Insights (FMI) on the global Welding Consumables market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2020-2030. The report examines the welding consumables market through three different segments – product type, welding type, end use and region. The market report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the supply of welding consumables and product adoption across several end-use industries.
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