ALBANY, New York, December 22, 2015 /PRNewswire/ --
The research report on the welding consumables market by Transparency Market Research (TMR) provides a detailed analysis of the key market segments. According to the report, the rising demand for energy and the expanding automotive sector will drive the welding consumables market significantly.
By product type, the welding consumables market is segmented into SAW wires and fluxes, flux-colored wires, solid wires, stick electrodes, and others. Welding consumables find application in several segments such as oil and gas, power, marine, building and construction, automobile and transportation, and others. Region-wise, the welding consumables market is classified into North America, Europe, Asia Pacific, and Rest of the World.
The India welding consumables market is driven by the rising consumption of steel in various end-use industries and the rapid growth of the Indian oil and gas sector and offshore activities in the same. On the other hand, factors such as the unstable supply of raw materials, shortage of skilled labor, and foreign competition will restrain this regional market. In 2013, the India welding consumables market was worth INR30.8 bn and, with a CAGR of 5.60% expected during the forecast period from 2014 to 2020, the market is projected to be worth INR45.3 billion by 2020.
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In 2013, volume-wise, the India welding consumables market was estimated at 255.1 kilo tons. In 2013, the welding stick electrodes segment dominated the India welding consumables market with a share of more than 45%. By application, the automobile and transportation segment dominated the India welding consumables market with a share of more than 25% in 2013, while the power segment will expand at the fastest CAGR of 5.80% during 2014-2020.
The Indonesia welding consumables market is projected to benefit from its expanding automotive industry. In 2014, the Indonesia welding consumables market was worth US$150.3 mn and, with a CAGR of 7.70% predicted during the forecast period from 2015 to 2023, the market is projected to be worth US$293.0 mn by 2023. By volume, the Indonesia welding consumables market was estimated at 64.5 kilo tons in 2014. In 2014, the stick electrodes segment held over 50% of the Indonesia welding consumables market in terms of demand. By application, the automotive and transportation segment dominated the Indonesia welding consumables market with a share of more than 20% in 2014.
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The Europe, the Middle East, and Africa (EMEA) market for welding consumables is driven by the rising demand for oil and gas and the expanding automotive and construction sectors. On the other hand, the shortage of skilled labor in manufacturing will suppress this market. In 2013, the EMEA welding consumables market was worth US$3.3 bn and, exhibiting a 4.30% CAGR during the forecast period of 2014 to 2020, the market is expected to be worth US$4.5 bn by 2020. In 2013, volume-wise, the EMEA welding consumables market was estimated at 1,236.2 kilo tons. Europe held more than 70% of the EMEA welding consumables market in 2013.
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Players in the welding consumables market will benefit significantly from the growth opportunities provided by the expanding wind power sector in many parts of the world. Some of the key players operating in the wearable consumables market are ESAB, Lincoln Electric, ITW, The Linde Group, Voestalpine AG, and Ador Welding Ltd.
Key Segments of the Welding Consumables Market
Welding Consumables Market Segmentation, by Product
- Stick electrodes
- Solid wires
- Flux-cored wires
- SAW wires and fluxes
- Others (Including gases, etc.)
Welding Consumables Market Segmentation, by Application
- Automobile & transportation
- Building & construction
- Marine
- Power sector
- Oil & gas
- Others (Including repair and maintenance, etc.)
Welding Consumables Market Segmentation, by Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
Browse Press Releases for India, Indonesia & EMEA Welding Consumables Market:
- http://www.transparencymarketresearch.com/pressrelease/india-welding-consumables-market.htm
- http://www.transparencymarketresearch.com/pressrelease/indonesia-welding-consumables-market.htm
- http://www.transparencymarketresearch.com/pressrelease/emea-welding-consumables-market.htm
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