Aug 16, 2021   SOURCE: BusinessWire

Welding Equipment, Accessories & Consumables Markets: Electrodes & Filler Materials, Fluxes & Wires Gases - Global Forecast to 2026 - ResearchAndMarkets.com

The "Welding Equipment, Accessories & Consumables Market by Equipment, Accessory, Consumable (Electrodes & Filler Materials, Fluxes & Wires Gases), Technology (Arc Welding, Oxy-Fuel Welding), End-Use Industry, and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The welding equipment, accessories, and consumables market is projected to grow from USD 25.9 billion in 2021 to USD 32.5 billion by 2026, at a CAGR of 4.6% during the forecast period.

Innovations and technological advancements in the automotive industry to cater to the growing demand from customers are expected to create higher demand for welding products which is likely to drive the global welding equipment, accessories, and consumables market during the forecast period.

APAC is the fastest-growing market for welding equipment, accessories, and consumables due to growing population, favorable investment policies, growing economies, and government initiatives directed at promoting electronics and automobile industries in the region.

In terms of value, the General Fabrication segment is projected to lead the global welding equipment, accessories, and consumables market through 2026.

The General Fabrication segment is projected to lead the welding equipment, accessories, and consumables market, in terms of value, during the forecast period. The general fabrication industry includes light fabrication, general manufacturing, artwork, brazing & soldering, and general welding in laboratories and steel welding centers.

Welding equipment is used for applications such as stick welding, tungsten inert gas (TIG) welding, and metal inert gas (MIG) welding. The growing demand for welded metals in the fabrication industry is driving the growth of the welding equipment, accessories, and consumables market.

The Fluxes & wires segment is projected to be the fastest-growing segment throughout the forecast period.

The Fluxes & wires segment, by Consumables, is projected to grow at the highest CAGR during the forecast period. Fluxes remove impurities from the base metal surface and enable good blending between the base metal and the filler material surface. Fluxes are available in three forms: powder, liquid, and paste.

Welding wires are generally prepared from mild steel materials and are plated with other materials such as copper to prevent oxidation and enable electrical conductivity. Copper plating also helps enhance the durability of welding contact tips. Solid wires have the advantage of high deposition rate, flexibility in application and can be used in external environments as well.

In terms of value, the Asia welding equipment, accessories, and consumables market is projected to grow at the highest CAGR during the forecast period.

APAC is the largest producer and consumer of welding equipment, accessories, and consumables across the globe, with almost all major manufacturers and end-use companies present in the region. It has witnessed tremendous growth in the last few years, driven by its growing population, favorable investment policies, growing economies, and government initiatives directed at promoting electronics and automobile industries in the region.

Low labor costs, coupled with favorable import-export policies, have made APAC an ideal market for automotive OEMs as well as electronics manufacturers, which, in turn, is expected to drive the regional welding equipment, accessories, and consumables demand.

The global welding equipment, accessories, and consumables market comprises major manufacturers, such as are Lincoln Electric Holdings, Inc (US), Colfax Corporation (US), Illinois Tool Works Inc. (US), Kobe Steel Ltd (Japan), and Air Liquide S.A ( France).

Market Dynamics

Drivers

  • Promising Growth in Steel Industry
  • Industrial Development in Middle East & Africa
  • Increasing Demand from Other End-Use Industries

Restraints

  • High Running and Maintenance Costs
  • Environmental Impact of Welding

Opportunities

  • Absence of Stringent Standards in Developing Countries
  • New and Advanced Applications
  • Development of Wind Energy Infrastructure

Challenges

Shortage of Skilled Labor and High Labor Cost

Companies Mentioned

  • Air Liquide S.A.
  • Air Products and Chemicals, Inc
  • Amada Weld Tech
  • Atlantic China Welding Consumables, Inc
  • Carl Cloos Schweisstechnik GmbH
  • Colfax Corporation
  • Daihen Corporation
  • Fronius International GmbH
  • Hyundai Welding Co. Ltd.
  • Illinois Tool Works Inc
  • Kemmpi Oy
  • Kobe Steel Ltd
  • Linde plc
  • Messer Group GmbH
  • Obara Group Inc
  • Panasonic Corporation
  • Swagelok Company
  • The Lincoln Electric Company
  • Tianjin Golden Bridge Welding Materials International Trading Co, Ltd
  • Voestalpine Bohler Welding GmbH

For more information about this report visit https://www.researchandmarkets.com/r/643cyv