Welding consumables are flux and filler materials that liquefy during welding to produce strong joints. The selection of welding consumables is dependent on the type of end use. Growth in construction and automotive industries, rise in the number of applications across various end-user industries, increase in usage of welding consumables for repair & maintenance purpose, and surge in global energy infrastructure investments drive the welding consumables market growth.
A complete and wide-ranging evaluation of the aspects that drive and restrain the market growth is also provided throughout the study. This detailed exploration of the market size and its proper segmentation help the market players define the prevalent opportunities that are looming large.
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The report helps clients in comprehending the first-hand knowledge of the global market while providing a full-fledged understanding of the regional-level analysis of each segment. At the same time, the study contain in-depth information of the frontrunners that are active in the industry along with their financial agenda, segmental profits, company trends, services/products offerings, and major adopted stratagems.
The solid wires segment accounted for more than one-third of the market share, in terms of revenue, owing to their ability to weld numerous types of materials having varied thicknesses, and ease of use. In addition, these wires prevent oxidation, enhance the life of welding contact tip, and aid in electrical conductivity. The factors that are considered during selection of welding consumable for specific application are thickness of the material, wire feed settings, proper shielding gas, and voltage settings.
The Welding consumables market report keeps a perfect tab on the market share of several companies, recent market trends, revenue forecast, and new product launches across the market. The report includes company profiles that delineate the revenue share of the top competitors in the market. Simultaneously, the report provides revenue forecasts for four regions and more than twenty major countries across Asia-Pacific, LAMEA. North America and Europe.
Welding Consumables Companies Covered Market:- Colfax Corporation (U.S.), Fronius International GmbH (Austria), Hyundai Welding Co., Ltd. (Singapore), Illinois Tool Works Inc. (U.S.), Kemppi Oy. (Finland), Obara Corporation (Japan), Panasonic Corporation (Japan), The Lincoln Electric Company (U.S.), Tianjin Bridge Welding Materials Group Co., Ltd. (China) and Other.
The energy segment is projected to grow at a significant CAGR during the forecast period due to growth in the number of investments in renewable power sources, stimulating the need for new projects. Asia-Pacific is anticipated to grow at the highest rate, owing to the large number of ongoing & proposed energy projects in China & India. The SAW fire & fluxes segment is anticipated to have largest demand in the wind sector, while increase in the number of thermal projects is expected to boost the growth of stick electrodes and solid wires.
Analysis of COVID-19 impact
The outbreak of the pandemic has had a massive impact on the majority of industries and the Welding consumables market was also not an exception in this regard. The report provides a detailed study on the micro- and macro-economic impact during the pandemic. Additionally, it emphasizes the direct impact of the COVID-19 pandemic on the Welding consumables market in the form of qualitative study. The report offers explicit details regarding the market extent and shares during this unprecedented time. At the same time, the major strategies adopted by the market players to combat the global crisis is also covered under the report. Last but not the least, the report highlights how the pandemic has distorted the supply chain of the market and takes in a post-COVID-19 analysis too.
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