Pune, India, June 30, 2021 (GLOBE NEWSWIRE) -- The U.S. welding consumables market is set to gain momentum from the need to reduce the weight of vehicles. Hence, manufacturers are employing fabric materials instead of metal parts to minimize sound pollution, lower emissions, and fuel consumption. Lincoln Electric, for instance, unveiled GTAW (TIG) cut lengths in September 2019. These would enable high-quality, clean welds with reduced welding fume and spatter. This information is given by Fortune Business Insights™ in a new report, titled, “U.S. Welding Consumables Market, 2021-2028.” As per the report, the market size was USD 2.37 billion in 2020. It is projected to grow from USD 2.43 billion in 2021 to USD 3.35 billion in 2028 at a CAGR of 4.7% in the forecast period.
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COVID-19 Pandemic: Declining Manufacturing Activities May Hamper Growth
The outbreak of the COVID-19 pandemic has impacted the economy of the U.S. severely since January 2020. As per a report published by the World Economic Forum (WEF) in June 2020, the U.S. exhibited the sharpest decline in overall industrial production and manufacturing backed by the fear of recession and supply chain disruptions. As a result, the market registered negative growth of -1.5% in 2020. We are providing in-depth research reports to help you find the best strategy to overcome this grave situation in the U.S. welding consumables industry.
To get to know more about the short-term and long-term impact of COVID-19 on this market,
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Segmentation-
SAW Wires & Fluxes Segment to Lead Fueled by the Ability to Resist Corrosion
Based on application, the U.S. welding consumables industry is categorized into heavy engineering, automotive and transportation, railways, construction, shipbuilding, and others. By the type, it is segregated into stick electrodes, SAW wires and fluxes, solid wires, and flux-cored wires. Out of these, the stick electrodes segment earned 28.5% in terms of the U.S. welding consumables market share in 2020. The SAW wires & fluxes segment is anticipated to remain at the forefront because of its ability to resist corrosion and withstand the high temperature.
Report Coverage-
The report provides an accurate assessment of several customers’ journeys associated with the market for U.S. welding consumables, regions, and segments. The business intelligence and consultation solutions would aid interested stakeholders to refine customer experience maps developed as per their requirements. They can transform customer engagement with their in-house brands.
Drivers & Restraints-
Increasing Need to Prevent Oxidation and Corrosion of Materials to Boost Growth
The aerospace & defense, shipbuilding, construction, and railway industries are increasingly utilizing solid wires, stick electrodes, and SAW & fluxes. Welding consumables usually have copper coatings to prevent corrosion and oxidation during the welding process. It mainly happens while working with alloys and materials of high thickness. Besides, rapid urbanization is resulting in the expansion of railways and construction & infrastructure industries across the globe. However, limitations revolving around the production of complex geometric shapes in North American countries, especially in the metal fabrication industry, may hinder the U.S. welding consumables market growth in the near future.
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Competitive Landscape-
Key Players’ Focus on Partnerships and New Product Launches to Intensify Competition
The U.S. welding industry contains several reputed manufacturers that are presently striving to gain a competitive edge by launching innovative solutions. They are mostly doing so by joining hands with other players. Below is one of the latest industry developments:
- May 2019: Lincoln Electric developed U/LINC, a unique welding curriculum platform by joining hands with Tooling U-SME. It would help the company to aid welding educators improve their practice. It would lead to enhanced performance outcomes and measurable results.
List of Key Players Profiled in this Market Report
- Illinois Tool Works Inc. (Glenview, U.S.)
- KISWEL CO.LTD (Florence, U.S.)
- Hyundai Welding Co., Ltd. (Gangnam-gu, South Korea)
- The Lincoln Electric Company (CLEVELAND, U.S)
- Selectrode Industries, Ltd. (New York, U.S.)
- Colfax Corporation (Annapolis Junction, U.S.)
- Obara Corporation (Yamanashi, Japan)
- Welding Alloy Group (Hertfordshire, UK)
- KOBE STEEL, LTD (Hyogo, Japan)
- Fronius International GmbH (Wels, Austria)
- Linde plc (Guildford, United Kingdom)
- CS HOLDINGS LTD (Gyeongsangbuk-do, South Korea)
- Miller Electric Mfg. LLC (Appleton, U.S.)
- ARCON Welding (New Delhi, India)
- DENYO (Tokyo, Japan)
- Hobart Welding Products (Appleton, U.S.)
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Table Of Content
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19 on Welding Consumables Market
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- U.S. Welding Consumables Market Share Analysis and Matrix, 2020
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players (Would be provided for 10 players only)
- Overview
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- Key Management
- Headquarters etc.
- Offerings/Business Segments
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- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Primary Interview Responses
- Annexure / Appendix
- U.S. Welding Consumables Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
- By Type (Value)
- Stick Electrodes
- Solid Wires
- Flux-cored Wires
- SAW Wires & Fluxes
- By Application (Value)
- Heavy Engineering
- Automotive and Transportation
- Railways
- Construction
- Shipbuilding
- Others (Oil & Energy, Aerospace & Defense)
- By Type (Value)
- U.S. Welding Consumables Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
- List of some of the companies (to name a few and not limited to) considered in the scope for understanding the market ecosystem/value chain.
- (Note that the purpose of the below list is to highlight the exhaustiveness of coverage. This does not necessarily mean that all the below companies would be profile in the scope. However, at the same, we are open to profile additional company(s) on specific request)
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Have a Look at Related Research Insights:
Welding Market Size, Share & COVID-19 Impact Analysis, By Product Type (Welding Equipment and Consumables), By Process Type (Arc, Spot, MIG/TIG, Laser and Others), By Application (Automotive, Building & Construction, Heavy Engineering, Railway & Shipbuilding, Oil & Gas and Others) and Regional Forecast, 2020-2027
Welding Consumables Market Size, Share & COVID-19 Impact Analysis, By Type (Stick Electrodes, Solid Wires, Flux-cored Wires and SAW Wires & Fluxes), By Application (Heavy Engineering, Automotive, Railways, Construction, Shipbuilding and others) and Regional Forecast, 2020-2027
Welding Electrodes Market Size, Share & COVID-19 Impact Analysis, By Type (Stick Electrodes and Coiled Wires), By Industry (Automotive, Building & Construction, Oil & Gas and Others), and Regional Forecast, 2020-2027
Welding Equipment Market Size, Share & Industry Analysis, By Technology (Arc Welding, Resistance Spot Welding, MIG/TIG Welding, Laser Beam Welding, and Others), By Automation Type (Automatic, Semi-Automatic, and Manual), By Application (Automotive, Building & Construction, Heavy Engineering, Railway & Shipbuilding, and Others) and Regional Forecast, 2019-2026
Welding Wires Market Size, Share & Industry Analysis, By Type (Metal Inert Gas (MIG) Wire, Tungsten Inert Gas (TIG) Wire and Others), By Industry (Automotive, Building & Construction, Oil & Gas and Others) and Regional Forecast, 2019-2026
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