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Welding Products Market Growth in Wind Power Sector to Create Opportunities, TMR

The global welding products market is moderately fragmented with the key players such as Lincoln Electric, ESAB, and ITW leading in the market. These three players accounted for a collective share of 30% in 2013, states a new report by Transparency Market Research (TMR). This market is capital intensive and thus, local vendors find it difficult to compete with the larger players. Local players are unable to compete with large players on the basis of quality, services, functionalities, and features. Thus, these small players are entering into the market by introducing products that are low in price. Some of the players operating in the welding products market are: Voestalpine AG, Sonics & Materials Inc., Fronius International GmbH, Rofin-Sinar Technologies Inc., Arcon Welding, Bohler, Panasonic, Daihen Corp, and OBARA Co. In order to increase their production capacities and focus on innovations, companies are adopting the strategy of merging or acquiring other players.

According to the report, the global market opportunity in welding productsis expected to rise from US$19,080.3 mn in 2015 to US$23,777.5 mn by 2020. On the basis of technology, the resistant welding segment is expected to lead and account for 26.8% of the market by 2020. By product, the stick electrodes segment is expected to retain its leading position in the market and account for 40.9% of the market by 2020.

On the basis of application, the automobile and transportation segment is anticipated to lead in the years to come and account for 17.8% of the market by 2020. The building and construction segment will be the second most lucrative application segment by 2020. Asia Pacific is expected to hold a dominant share in the market and is estimated to account for 43.8% of the market by 2020.
Oil and Gas Sector to Drive Growth Prospects of Welding Products Market
According to the lead author of this report, the demand from the automotive sector will boost the global welding products market. In addition to this, the repair and maintenance of automobiles will also boost the demand for welding products. Further, the high demand from the construction sector will help in driving the growth prospects of the welding products market in the coming years. The growth in the construction and infrastructural activities across developing economies is aiding the growth of the market.
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Moreover, the oil and gas sector is also creating a heightened demand for welding products. The construction of new manufacturing facilities and revamping the old oil infrastructures will drive the demand for welding products. The growing concerns relating to safety in the oil and gas industries will drive the need to replace old and worn out pipelines and install new ones, in turn boosting the demand for welding products. “Furthermore, the increase in the drilling activities in the oil and gas sector will drive the demand for offshore rigs, which in turn will create growth opportunities for the global welding products market,” states a TMR analyst.
High Cost of Labor in Developed Nations Posing a Challenge for Market
One of the key restraints in the global welding products market is the lack of skilled and trained labor. Labor cost in developed countries is too high, which in turn escalates the production prices, reducing the profit margins of manufacturers. Lack of skilled labor also hampers the process of welding, restraining the growth of this market. Despite the availability of new technologies, the dearth of skilled labor will make it difficult to implement and provide quality services to customers. On a positive note, the growth of the wind energy power sector will create fresh opportunities for the growth of the global welding products market.
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.)

This information is based on the findings of a report published by Transparency Market Research, 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.”

About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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