"We Envision Growth Strategies Most Suited
to Your Business"
The global welding electrodes market size is projected to reach 3.79 billion by 2027. It is likely to gain impetus from the increasing adoption of new technologies and processes. The manufacturing and fabrication industries are mainly focusing on serving their customers better by developing flexible welding electrodes. This information is given by Fortune Business Insights™ in a new 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 the market size was USD 3.02 billion in 2019. However, it is set to exhibit a CAGR of 3.0% during the forecast period between 2020 to 2027.
voestalpine Böhler Welding Acquires Selco to Strengthen its Position
In March 2020, voestalpine Böhler Welding, a leading company in the welding industry headquartered in Germany, announced the acquisition of Selco s.r.l., a manufacturer of welding machines based in Italy. This acquisition would enable voestalpine Böhler Welding to strengthen its position in the global market. By adding welding machines to its product portfolio, the company is presently providing full welding solutions, including welding electrodes. Selco will help the company in blending welding machines and welding consumables.
To get a detailed report summary and research scope of this market, click here:
Rising Usage of Smart Materials Embedded with Computer Chips will Boost Growth
Welding electrodes are gaining more popularity nowadays because of the increasing operations that consist of joining two different metals. Hence, to join those dissimilar metals that would otherwise require high precision welding, such electrodes are vital. Apart from this, smart materials equipped with computer chips are being extensively used in the manufacturing facilities to keep a check on the welder’s performance. This factor would also propel the welding electrodes market growth in the near future. But, the outbreak of the COVID-19 pandemic has disrupted the global supply chain processes and international trade. This may hamper the market growth.
Key Players Aim to Gain Competitive Edge through Acquisition Strategy
The renowned companies present in the market are mainly striving to gain a competitive edge by participating in the strategy of mergers and acquisitions. Some of the others are also investing hefty amounts of money to develop novel welding electrodes for attracting more consumers.
Fortune Business Insights™ presents a list of all the manufacturers operating in the global market. They are as follows:
A Notable Industry Development-
Further Report Findings-
The global market can be segmented in the following way:
Value (USD billion)