Welding Electrodes Market to Gain from Emergence of Industry 4.0 in Numerous Sectors Worldwide

·7 min read

Key Companies Covered in Welding Electrodes Market Research Report are Lincoln Electric,bKOBE STEEL, LTD, ESAB, ZULFI, KISWEL CO., LTD., CS HOLDINGS CO., LTD., RME MIDDLE EAST, voestalpine BÖHLER Edelstahl GmbH, capilla, Tianjin Golden Bridge Welding Materials Group International Trading Co., Ltd.

Pune, India, Oct. 18, 2021 (GLOBE NEWSWIRE) -- The global welding electrodes market is anticipated to grow astonishingly backed by the rising utilization of unique welding processes, such as short-circuit MIG in several industries to enhance the performance efficiencies and user training programs. This information is provided by Fortune Business Insights™ in a newly published report, titled, “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.” The report further states that this market size was USD 3.02 billion in 2019 and is projected to reach USD 3.79 billion by 2027, exhibiting a CAGR of 3.0% during the forecast period.

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Fortune Business Insights™ lists out the names of all the manufacturers present in the global market. They are as follows:

  • Lincoln Electric (Ohio, United States)

  • KOBE STEEL, LTD (Hyogo, Japan)

  • ESAB (Maryland, United States)

  • ZULFI (Al Zulfi, Saudi Arabia)

  • KISWEL CO., LTD. (Seoul, Korea)

  • CS HOLDINGS CO., LTD. ( Gyeongsangbuk-do, Korea)

  • RME MIDDLE EAST (Dubai, UAE)

  • voestalpine BÖHLER Edelstahl GmbH (Linz, Upperaustria)

  • capilla (Leopoldshöhe, Germany)

  • Tianjin Golden Bridge Welding Materials Group International Trading Co., Ltd. (Tianjin, P. R. China)

REPORT SCOPE & SEGMENTATION:

Report Coverage

Details

Forecast Period

2020 to 2027

Forecast Period 2020 to 2027 CAGR

3.0%

2027 Value Projection

USD 3.79 Billion

Base Year

2019

Market Size in 2019

USD 3.02 Billion

Historical Data for

2016 to 2018

No. of Pages

120

Tables, Charts & Figures

43

Segments covered

By Type; By Industry; and By Region

Growth Drivers

Demand for Welding Operations across Various Industries to Drive Growth

Introduction to Smart Factories will Bolster Growth

Building & Construction Industry is Expected to be the Fastest Growing Segment

Pitfalls & Challenges

Lack of Availability of Skilled Welders on Factory Floor to Be a Restraint for Market

The outbreak of the COVID-19 pandemic is persistently causing heavy losses for numerous organizations. Unless a vaccine is found, the end of this difficult phase is unpredictable. The governments are implementing social distancing and other measures to control the spread of this infection. Our reports would provide in-depth analysis of the strategies that you can use to cope up with the ‘new normal.’

To get to know more about the short-term and long-term impact of COVID-19 on this market, please click: https://www.fortunebusinessinsights.com/enquiry/queries/welding-electrodes-market-103457

This Report Answers the Following Questions:

  • What are the market drivers, dynamics, and hindrances?

  • Which segment is expected to dominate the market?

  • How will the companies surge sales amidst COVID-19?

  • Which region is likely to remain dominant in the coming years?

Drivers & Restraints-

Introduction to Smart Factories will Bolster Growth

The demand for welding electrodes is expected to surge worldwide in the near future fueled by the increasing number of transportation projects, such as the construction of new airports, seaports, and railway networks. Besides, the development of new residential and commercial projects would contribute to the welding electrodes market growth. Nowadays, the introduction of industry 4.0 is further causing a high demand for smart factories. Therefore, the manufacturers are planning to deploy robots to perform vital operations. Coupled with this, the retrofitting of offshore natural gas and oil exploration equipment and tools, such as pipes, boilers, and vessels would raise the popularity of these electrodes.

However, the outbreak of the COVID-19 pandemic is causing huge economic losses. The overall supply chain ecosystem is experiencing disruptions owing to frequent lockdown. According to the U.N. Department of Economic and Social Affairs (DESA), the coronavirus crisis is unsettling international trade. Hence, a large number of industries, such as building & construction, automobile, and others are going through a rough phase. These industries are the major adopters of welding electrodes. It may hinder the market growth.

Segment-

Building & Construction Segment to Grow Steadily Backed by Expansion of Construction Industry

Based on industry, the market is segregated into oil & gas, building & construction, automotive, and others (fabrication). Out of these, in China, the building & construction segment earned a welding electrodes market share of 41.7% in 2019. This growth is attributable to the increasing implementation of foreign direct investments, as well as the rapid expansion of the construction industry across the globe.

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Regional Analysis-

Rising Number of Construction Activities to Favor Growth in Asia Pacific

In 2019, Asia Pacific procured USD 997.1 million in terms of revenue. The region is likely to showcase the fastest growth in the coming years owing to the high demand for these type of electrodes from the commercial and residential sectors, as well as the increasing number of construction activities. Additionally, the presence of a large number of unorganized and organized Chinese manufacturers in the region would contribute to the market growth. North America and Europe, on the other hand, are set to exhibit considerable growth stoked by the rising adoption of various technologies, such as resistance spot welding (RSW), plasma arcs, and lasers in a wide range of industries.

Competitive Landscape-

Key Players Focus on Acquiring Other Reputed Enterprises to Expand Presence

The market houses numerous renowned welding electrodes producers that are currently acquiring other local enterprises for reaching out to a large consumer base and broadening their geographic footprints. Below is one of the latest industry developments:

  • May 2019: Lincoln Electric Holdings, Inc. announced its acquisition of 49.6% interest in Kaynak Tekniği Sanayi ve Ticaret A.Ş. This would aid Lincoln in expanding its geographic presence. Since 1998, it has owned the latter’s 50% interest.

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Major Table of Content:

  • Introduction

    • Definition, By Segment

    • Research Approach

    • Sources

  • Executive Summary

  • Market Dynamics

    • Drivers, Restraints and Opportunities

    • Emerging Trends of Market

  • Key Insights

    • Macro and Micro Economic Factors

    • Consolidated SWOT Analysis of Key Players

    • Porter’s Five Forces Analysis

    • Impact Analysis of COVID 19

  • Global Welding Electrodes Market Analysis, Insights and Forecast, 2016-2027

    • Key Findings / Summary

    • Market Sizing Estimations and Forecasts – By Type (Value)

      • Stick Electrodes

      • Coiled Wires

    • Market Sizing Estimations and Forecasts – By Industry (Value)

      • Automotive

      • Building & Construction

      • Oil & Gas

      • Others (Fabrication)

    • Market Analysis, Insights and Forecast – By Region (Value)

      • North America

      • Europe

      • Asia Pacific

      • Middle East and Africa

      • Latin America

TOC Continued…!!

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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 Welding Type (Arc, Resistance, Oxy-Acetylene Gas, Solid State and Others), By Application (Automotive, Building & Construction, Heavy Engineering, Railway & Shipbuilding, Oil & Gas and Others) and Regional Forecast, 2021-2028

U.S. Welding Consumables Market Size, Share & COVID-19 Impact Analysis, By Type (Stick Electrodes, Solid Wires, Flux-cored Wires, SAW Wires & Fluxes), By Application (Heavy Engineering, Automotive and Transportation, Railways, Construction, Shipbuilding, and Others), and Forecast, 2021-2028

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 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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