The global welding products market is moderately consolidated with
the top three players accounting for 30% of the market in 2013. These
three companies are Lincoln Electric, ESAB, and ITW. Small players
are competing in the market by introducing low priced products, says
Transparency Market Research in its new study. Some of the players in
the market are Fronius International GmbH, Bohler, Sonics &
Materials Inc., Panasonic, Daihen Corp, Rofin-Sinar Technologies
Inc., Voestalpine AG, Arcon Welding, and OBARA Co. Companies are
focusing on strategic acquisitions, increasing their production
capacity, and innovations. Operational improvements are another area
on which companies are concentrating. Companies such as Bohler are
investing in research and development to present new products as per
customer specifications.
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According to the report, the global welding products market is
expected to rise from US$19,080.3 mn in 2015 to US$23,777.5 mn by
2020. By technology, the resistant welding segment will continue to
lead through 2020, accounting for 26.8% of the market. On the basis
of product, the stick electrodes segment led in the past and will
continue to do so, accounting for 40.9% of the market by 2020. By
application. The automobile and transportation segment, closely
followed by the building and construction segment will lead in the
global welding products market by 2020. The automobile and
transportation segment is estimated to account for 17.8% of the
market by 2020. On the basis of geography, Asia Pacific will lead and
is projected to account for 43.8% of the market by 2020.
Revamping
of Oil and Gas Infrastructure and Pipelines to Drive Market
The growth of the automotive industry is one of the key factors
driving the global welding products market, as metals used in
automobiles are joined using welding. The repair and maintenance of
automobiles are also creating a need for welding products, thus
driving the market worldwide. Another factor driving the global
welding products market is the growth of the building and
construction sector. Welding comprises an important process used in
building and construction activities. The growth of the construction
and infrastructural activities in Asia Pacific is driving the demand
for welding products.
Furthermore, the oil and gas industry is also a key consumer of
welding products. Welding products are extensively used for revamping
of oil infrastructure and also for the construction of new pipelines
and manufacturing facilities. A rise in safety concerns in the oil
and gas industry is fueling the need for replacing older pipelines
and installing new ones in future. In addition to this, the growth of
the oil and gas drilling activities has given rise to an increase in
offshore rigs. This in turn is creating a need for welding processes,
driving the demand for welding equipment and consumables
Lack
of Trained and Skilled Labor to Pose a Problem
Trained and skilled labor is one of the crucial factors for the
success of the welding industry. Developed countries are faced with
high labor cost, leading to high production prices and this is
subsequently impacting the profit margins of manufacturers. Moreover,
the shortage of skilled labor is hampering the welding process. A
lack of skilled labor to handle new technologies being developed by
key players in the welding industry will also restrain the market.
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“Manufacturers are unable to provide quality services to customers
owing to a lack of skilled labor,” says a TMR analyst. However, the
growth of the wind power industry will act as an opportunity for
growth in the coming years. As the need for efficiency arises in wind
tower fabrication, there will an increase in the construction of wind
turbines, driving the demand for welding products.
This information is based on the findings of a report published by
Transparency Market Research, titled “Welding Products Market -
Global Industry Analysis, Size, Share, Growth, Trends and Forecast
2014 - 2020.”
The
global welding products market is segmented as follows:
Welding
Products Market - Technology Analysis
- Arc welding
- Resistance welding
- Oxy-fuel welding
- Laser beam welding
- Others (ultrasound welding, etc.)
Welding
Consumables Market - Product Segment Analysis
- Stick electrodes
- Solid wires
- Flux-cored wires
- SAW wires and fluxes
- Others (gases, etc.)
Welding
Products Market - Application Analysis
- Automobile and transportation
- Building & construction
- Marine
- Others (repair and maintenance, etc.)
Welding
Products Market - Regional Analysis
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
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