Monday, 8 February 2016

Rising Usage of Welding Consumables in Automobile and Transportation Industry to Boost Welding Consumables Market : Transparency Market Research

Welding consumables are majorly utilized in the building and construction, transportation and automobiles, and marine industries. Welding consumables are utilized in the automobile and transportation industry for manufacturing subsystems and critical components. They are also used in building and construction, the power sector, marine, oil and gas, and others including maintenance and repair. The rising demand for welding consumables from the oil and gas industry and the expansion of the automobile and construction industries are amongst the chief factors fuelling the global market for welding consumables. Solid electrodes, flux-cored wires, solid wires, SAW wires and fluxes, and others are the major types of welding consumables and amongst these, stick electrodes led the market with a share of over 40% in the market in 2013.

Transparency Market Research (TMR), a market intelligence company, throws light on the state of the market in nations and regions such as Indonesia, India, and Europe, the Middle East and Africa (EMEA), and thus highlights the condition of the global market in forthcoming years.
  • India Welding Consumables Market : On the basis of volume, the India welding consumables market stood at 255.1 kilo tons in 2013 and the segment of welding stick electrodes held the largest share of over 45% in the market. On the basis of application, the segment of automobile and transportation led the welding consumables market in India and held a share of over 25% in the market in 2013. On the other hand, the segment of power will rise at the most rapid 5.80% CAGR from 2014 to 2020.
  • Indonesia Welding Consumables Market : The welding consumables market is predicted to rise in Indonesia owing to the expansion of the automobile industry in the country. The Indonesia welding consumables market stood at US$150.3 mn in 2014 and is anticipated to reach US$293.0 mn by 2023. This market is expected to rise at a 7.70% CAGR from 2015 to 2023. On the basis of volume, in 2014, the Indonesia welding consumables market stood at 64.5 kilo tons. In the same year, the segment of stick electrodes constituted a share of more than 50% in the market on the basis of demand. In terms of application, the segment of automobile and transportation led the market and held a share of over 20% in 2014.
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  • The Europe, Middle East and Africa (EMEA) Welding Consumables Market : The EMEA welding consumables market is fuelled by the increasing oil and gas demand and expansion of the construction and automobile industries. On the other hand, the absence of skilled labor for the production of welding consumables may restrain the growth of the market in these two regions in forthcoming years. The EMEA welding consumables market stood at US$3.3 bn in 2013 and is predicted to reach US$4.5 bn by 2020. This market will expand at a 4.30% CAGR from 2014 to 2020. On the basis of volume, in 2013, Europe held a share of over 70% in the EMEA welding consumables market.
The prime players dominant in the wearable consumables market are Lincoln Electric, ESAB, ITW, Voestalpine AG, Ador Welding Ltd., and The Linde Group, among others.

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