The global market for welding products is moderately fragmented, as the local vendors are incapable of investing high capital and they face difficulty in competing with the leading players in the market. Transparency Market Research (TMR) observes that the local vendors lack in providing services, functionalities, features, and quality to contest against them. In addition, the leading players are investing in strategic mergers and acquisitions to increase their geographical reach and production capabilities. Some of the leading players in the global market are Voestalpine AG, Daihen Corp, Sonic & Materials Inc., OBARA Co, Arcon Welding, and Rofin-Sinar Technologies Inc.

According to TMR, the global welding products market is projected to reach US$23.77 bn by the end of 2020 progressing from US$19.08 bn in 2015. During the forecast period between 2014 and 2020, the market is projected to expand at 26.8% CAGR.

The global market for welding products is classified into technology, product, application, and region. Based on product type, stick electrode is leading the market as compared to other products in this segment. Stick electrode is expected to hold 40.9% of shares of the total market shares by the end of 2020. Geographically, Asia Pacific is dominating the welding products market globally and is expected to hold 43.8% of shares by the end of 2020. Fasting

Increasing Use in Various Application to Fuel Demand for Welding Products

The application of welding products is high in industries such as building, construction, automotive, marine, and manufacturing. Thus, with the growing demand in these industries has fueled the demand for welding products that will prove beneficial for the market growth. Technological advancements and increasing developments in welding industry have also boosted the demand in the welding products market. These advancements have helped in providing customized welding products and equipment. Improved welding products are also helping oil and gas companies to produce satisfactory results as they help in accelerating the work in the oil and gas companies. Further, the growing demand for welding pipes in the pipeline construction industry is also expected to boost the demand in the global welding market. Welding products are also used in the automotive industry for manufacturing vessels chassis and various components in the shipbuilding industry. Aerospace and railways also require wielding products to manufacture large structural constituents.

Lack of Skilled Labor to Hamper Market Growth

One of the major restraints is the lack of availability of skilled and trained labor in various emerging market. In addition to that, manufactures in developing regions cannot afford to invest additional cost in improving the skills of labors, as it will reduce their profit margins. Therefore, these factors may hinder the welding products market to grow efficiently in the coming years. However, developing new technologies will minimize the dependency on labor and will bring new ways to offer welding products to the customers. These efforts are likely to affect the growth in the global welding products market in near future.

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The information presented in this review is based on a TMR report, titled “Welding Products Market (Consumables – Stick Electrode, Solid Wires, Flux-cored Wires, SAW Wires & Fluxes and Gases; Technology – Arc Welding, Resistance Welding, Oxy-fuel Welding, Laser-beam Welding, and Ultrasound Welding; Application – Automobile & Transportation, Building & Construction, Marine, and Repair and Maintenance) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.”

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