Global Welding Products Market Size, Industry Trend Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Welding Products Market


The global Welding Products market size is projected to reach US$ 21.85 billion by 2026, from US$ 15.67 billion in 2020, at a CAGR of 5.7% during 2021-2026. Robust growth in the building and construction industry is likely to propel the growth.In addition, increasing demand for advanced welding technology from automotive industry is anticipated to drive the product demand.

U.S.; being the largest contributor in North America, is also expected to drive the market owing to increasing demand from building and construction sector. Rapid industrialization and infrastructure development in major economies such as U.S., China, India, Australia, and Singapore have driven the market over the past few years.

Strong domestic demand and economic expansion are projected to boost the production of vehicles in the forthcoming years, which, in turn, is anticipated to fuel the demand for welding products. North America market is projected to move ahead at a CAGR of 5.4% from 2017 to 2025. Furthermore, major in lined infrastructure projects are expected to augment the regional product demand over the forecast period.

Over the next few years, China is projected to lead the construction industry in Asia Pacific on account of growing infrastructural development. Although the market size of the Indian construction industry is smaller, it is expected to grow at a faster pace as compared to China owing to the presence of various government initiatives such as Make in India coupled with rising spending on infrastructural development.

Market Segmentation, Outlook & Viewpoint: Global Welding Products Market

 Technology Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Arc Welding
  
Resistance Welding
  
Oxy-Fuel Welding
  
Laser Beam Welding
  
Others

Product Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Stick Electrodes
  
Solid Wires
  
Flux-Cored Wires
  
Saw Wires and Fluxes
  
Others

Application Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Transportation & Automobiles
  
Building & Construction
  
Marine
  
Others

Key Players, Recent Developments & Regional Insights: Global Welding Products Market

Stick electrode product will continue to provide substantial market opportunities over the forecast period. Stick electrodes are widely employed in arc welding owing to their beneficial properties such as corrosion resistance, high tensile strength, and ductility. Stick electrodes are extensively consumed for the welding of components in large application areas such as pipelines, shipyards, and pressure vessels among others.

The flexibility and ruggedness of solid wires are the properties that increase their utility in application areas such as house electrical wiring and breadboards that require flexible wires. The global solid wires market is projected to ascend at a CAGR of 5.1% from 2017 to 2025 in terms of revenue.

Application Insights

Welding products are extensively utilized in the construction of various structures such as bridges and buildings. They are also used for procedures such as steel fabrication and others. Continuous innovation in welding technologies to weld complex and large structures in construction industry is fuelling the growth of welding products market. Different welding technologies are used in various applications depending on the choice of material and welding environment. Rapid urbanization is the crucial factor boosting the market growth.

Rising demand from automotive and transportation sector for the welding of automotive components and vehicle bodies is projected to boost the market growth. This application segment is expected to progress at a CAGR of 6.2% from 2017 to 2025.

Regional Insights

Asia Pacific is expected to witness rapid growth on account of increasing demand from various end use industries in major economies such as China, India, and Japan. This is expected to be a major factor for growth over the forecast period. This market accounted for the market share of 41.21% in 2017.

Asia Pacific is expected to emerge as the fastest-growing market over the forecast period owing to the rising demand from automobile industry for the welding of automotive components and vehicle bodies. Furthermore, growing product demand from the construction industry for use in the welding process of building, residential, and commercial fabrication is also expected to boost the regional growth. Presence of major automotive manufacturers is expected to be a key driver for the regional market.

Welding Products Market Share Insights

The market is fragmented in nature and is marked by the presence of a large number of global and regional players. Colfax Corporation; Hyundai Welding Co., Ltd.; The Lincoln Electric Company; Voestalpine AG; Denyo Co., Ltd.; Illinois Tool Works, Inc.; Air Liquide; Obara Corporation; and Sandvik AB are some of the key players engaged in R&D and manufacturing of high-quality and cost effective products.

The key market players are integrated across the value chain owing to which, market entry for new participants is slightly difficult as the market grows. The players focusing on R&D activities for new product development and innovations, which would earn them a competitive edge over the competitors. Furthermore, customized product offerings based on client specifications is an evolving trend in the market.

Key Insights Covered: Global Welding Products Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Welding Products industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Welding Products industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Welding Products industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Welding Products industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Welding Products industry.

Research Methodology: Global Welding Products Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other