London, March 27, 2024 (GLOBE NEWSWIRE) -- In a world witnessing unprecedented technological advancements across various sectors, the welding consumables market stands as a testament to innovation driving growth. With projections indicating a substantial increase in revenue to US$19.2 Bn by 2030 from US$12.6 Bn in 2022, the market is poised for exponential expansion, fueled by key trends and opportunities shaping its landscape.
Technological advancements play a pivotal role in propelling market growth, with continuous innovation enhancing the efficiency, precision, and safety of welding processes. Integration of automation, robotics, and Artificial Intelligence (AI) into welding systems has streamlined operations, reducing the human error and increasing productivity.
Get Sample Copy of Report at: https://www.fairfieldmarketresearch.com/report/welding-consumables-market/request-sample
REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 – 2030 | |
| Market Size in 2022 | US$12.6 Bn | |
| Estimated Market Size in 2030 | US$519.2 Bn | |
| CAGR | 6.2% | |
| Growth Drivers |
| |
| Segmentation |
| |
| Regional Coverage |
| |
“Brands like Lincoln Electric, and ESAB are at the forefront, investing in robotic technology to cater to the growing demand for automated welding solutions,” explains the company’s analyst.
Moreover, the global focus on infrastructural developments drives significant demand for welding consumables, particularly in construction and automotive industries. Welding is indispensable in the fabrication and assembly of structural components, making it a critical process in infrastructure projects. Additionally, urbanisation fuels the demand for automobiles, further bolstering the market.
The rapid adoption of automation, robotics, and IoT-enabled welding solutions presents significant opportunities for brands to capitalise on, offering compatible consumables and specialised training to meet evolving industry demands.
For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/welding-consumables-market
Key Research Insights
- Arc welding stands tall as the undisputed leader in the welding consumables market, maintaining a stronghold with a substantial 45% market share.
- Holding approximately 15% of the market share and experiencing an impressive annual growth rate of around 8%, laser beam welding finds widespread adoption in industries requiring high-precision welding, such as aerospace, electronics, and medical devices.
- Solid wires continue to lead the pack in the welding consumables market, commanding a notable 40% market share.
- Flux-cored wires emerge as the fastest-growing category, capturing about 10% of the market share with a notable annual growth rate of 6%.
Insights into Segmentation Analysis
Arc Welding Reigns Supreme
Arc welding retains its dominance in the welding consumables market, commanding a substantial 45% market share.
Its versatility across industries such as automotive, construction, and shipbuilding solidifies its position as the preferred choice for welding professionals globally.
Laser Beam Welding Surges Ahead
Laser beam welding emerges as the fastest-growing category, holding approximately 15% of the market share with an impressive annual growth rate of around 8%.
The unparalleled accuracy and efficiency of this category make it indispensable for intricate tasks in industries like aerospace, electronics, and medical devices.
Solid Wires Lead the Pack
Solid wires dominate the market with a significant 40% market share, favored for their ease of use, versatility, and consistent performance.
Industries ranging from automotive to manufacturing rely on solid wires for their reliability and straightforward welding process.
Flux-Cored Wires Gain Traction
Flux-cored wires represent the fastest-growing category, capturing about 10% of the market share with a notable annual growth rate of 6%.
Their suitability for heavy-duty welding tasks and superior performance in challenging environments make them increasingly popular in industries like shipbuilding, oil and gas, and heavy machinery manufacturing.
Key Report Highlights
- Continuous innovation in welding technologies, including automation, robotics, and AI, is revolutionizing welding processes, enhancing efficiency, precision, and safety.
- Environmental concerns are reshaping the market, driving the development of eco-friendly welding consumables to comply with stringent regulations and cater to environmentally conscious consumers.
- High raw material costs and price volatility, along with stringent regulatory compliance requirements, pose significant challenges for market players, impacting profit margins and competitiveness.
Insights into Regional Analysis
Asia Pacific Drives Market Growth
Asia Pacific remains the largest revenue-contributing region in the global welding consumables market, boasting approximately 45% market share.
With robust industrial growth, extensive infrastructural developments, and flourishing manufacturing sectors, countries like China, Japan, India, and South Korea lead the charge in welding consumables demand.
North America Embraces Innovation
North America maintains a significant market share of around 25%, fueled by technological advancements and innovation in welding processes and consumables.
The region's highly developed industrial sector, emphasis on automation, and focus on eco-friendly consumables drive growth in industries such as automotive, aerospace, and energy.
Key Companies in Global Welding Consumables Market
- Colfax Corporation
- Bavaria Schweisstechnik Gmbh
- Carboweld Schweissmaterialien Gmbh
- Daiko Welding Consumables
- Corodur Verschleiss-Schutz Gmbh
- Drahpo Gmbh
- Dim Schweissmaterial Manfred Schuermann
- Durum Verschleissschutz Gmbh
- Drahtwerk Elisental W. Erdmann Gmbh & Co.
- Fronius International Gmbh
- Elbor Spa
- Fidat Srl
- Hermann Fliess & Co. Gmbh
- Gedik Welding
- Voestalpine Ag
Global Welding Consumables Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - (By Technology Coverage, By Type Coverage, By Geographical Coverage and By Leading Companies): https://www.fairfieldmarketresearch.com/report/welding-consumables-market
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
Contact
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746
Web: https://www.fairfieldmarketresearch.com/
Email: sales@fairfieldmarketresearch.com
LinkedIn | Twitter
