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Welding Electrodes Market Size to Reach USD 3.79 Billion by 2027; Rising Adoption of New Technologies will Favor Growth

August 14, 2020 | Machinery & Equipment

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:


https://www.fortunebusinessinsights.com/welding-electrodes-market-103457


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:



  • Lincoln Electric (Ohio, United States)

  • KOBE STEEL, LTD (Hyogo, Japan)

  • ESAB (Maryland, United States)

  • ZULFI (Al Zulfi, Saudi Arabia)

  • KISWEL CO., LTD. (Seoul, Korea)

  • CS HOLDINGS CO., LTD. ( Gyeongsangbuk-do, Korea)

  • RME MIDDLE EAST (Dubai, UAE)

  • voestalpine BÖHLER Edelstahl GmbH (Linz, Upperaustria)

  • capilla (Leopoldshöhe, Germany)

  • Tianjin Golden Bridge Welding Materials Group International Trading Co., Ltd. (Tianjin, P. R. China)


A Notable Industry Development-



  • October 2017: The ESAB Group, Inc., a producer of mechanized cutting systems, filler metals, arc welding equipment, and automated welding systems based in Sweden, successfully acquired EWAC Alloys Limited, a subsidiary of L&T. The total deal was worth Rs. 522 crore. This acquisition would help ESAB to broaden its geographic presence in various regions, as well as to enhance its product portfolio.


Further Report Findings-



  • Asia Pacific held USD 997.1 million in terms of revenue in 2019 and is set to exhibit the fastest growth fueled by the high demand for these electrodes from the commercial and residential sectors.

  • Europe and North America are anticipated to exhibit significant growth stoked by the presence of several prominent manufacturers in both regions.

  • Based on industry, the building & construction segment in China generated 41.7% in terms of welding electrodes market share in 2019. This growth is attributable to the emergence of small and medium enterprises and the presence of favorable government policies.


The global market can be segmented in the following way:








































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD billion)



Segmentation



By Type



  • Stick Electrodes

  • Coiled Wires



By Industry



  • Automotive

  • Building & Construction

  • Oil & Gas

  • Others (Fabrication)



By Region



  • North America (the U.S. and Canada)

  • Europe (U.K., Germany, France, and the Rest of Europe)

  • Asia Pacific (Japan, China, India, Southeast Asia and the Rest of Asia Pacific)

  • Middle East & Africa (South Africa, GCC and the Rest of Middle East & Africa)

  • Latin America (Brazil, Mexico, and the Rest of Latin America)


Global Welding Electrodes Market
  • PDF
  • 2019
  • 2016-2018
  • 120

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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