U.S. welding consumables market to Reach USD 3.31 billion by 2029; Accelerated Demand for Welding Consumables across Industry Verticals to Drive the Market Growth

The U.S. welding consumables market size is predicted to reach USD 3.31 billion by 2029 and exhibit a CAGR of 4.1% during the forecast period. Fortune Business Insights^TM in its report titled “U.S. Welding Consumables Market Size, Share & COVID-19 Impact Analysis, By Type (Stick Electrodes, Solid Wires, Flux-cored Wires, SAW Wires & Fluxes), By Application (Heavy Engineering, Automotive and Transportation, Railways, Construction, Shipbuilding, and Others), and Forecast, 2022-2029”, observes that the market size stood at USD 2.43 billion in 2021 and USD 2.50 billion in 2022 and is expected to exhibit a CAGR of 4.1% between 2022 and 2029.  

Slowdown of Manufacturing Activity Impacted U.S. Welding Consumables Demand

Since the first case was reported in January 2020, the COVID-19 pandemic has had an unprecedented impact on the US economy. According to the World Economic Forum (WEF), the U.S. has experienced the sharpest decline in manufacturing and overall industrial production as a result of supply chain disruptions and financial market fears of a recession in June 2020. As a result, it has had a negative impact on the welding industry across the country and reduced demand for welding consumables across end-use industries.

Welding Alloys Group's France Subsidiary Created 'TRI S RW’ for Urban Railway Applications  

To meet the needs of urban railways, Welding Alloys Group's France subsidiary created 'TRI S RW,' a one-of-a-kind cored wire. Wire diameter is typically 2.0 mm. It is suitable for a wide range of maintenance tasks on urban railway networks.  

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Increasing Demand for U.S. Welding Consumables over Industries to Augment Market Growth

Aerospace, shipbuilding, construction, railroads, and defense industries are using SAW and fluxes, solid wires, stick electrodes, and other materials at an alarming rate. The reason being, even when welding thick materials and alloys, these products are frequently coated with copper to prevent corrosion and oxidation. Construction, infrastructure, and railway industries are rapidly expanding as a result of rising urbanization.

Furthermore, federal procurement policies, federal investments in the training industry in California and elsewhere have exceeded more than a billion dollars. One example of such a program is the high-speed intercity passenger rail and Next-Generation Corridor. Increasing demand for welding consumables across a broad range of industries is expected to result from the growth of these key industries.

Key Players to Reinforce the Leading Market Position with New Product Launches and Acquisitions  

Key players in this industry in the U.S. are collaborating with a number of organizations to train welders in sophisticated technology such as hybrid welding, resistance spot welding, and others.

A major American manufacturer, Lincoln Electric Company, has been training existing welders to help them become more skilled. Welders, technicians, and skilled tradespeople will be able to distinguish themselves from inexperienced welders by earning the CRWT credential in 2020, thanks to a recent collaboration between the American Welding Society (AWS) and Resistance Welding Manufacturing Alliance (RWMA). The certification is transforming the growth of this market in the U.S.  

Industry Developments-

• June 2020 – The Lincoln Electric Company introduced the 'Excalibur® 7018 XMR', a low-hydrogen stick electrode used for all-purpose fabrication across industries such as shipbuilding, structural, chemical processing, and pipeline, as part of the 'Excalibur SMAW (stick) electrode series.'  

List of Key Market Players:  

• Illinois Tool Works Inc. (Illinois, U.S.)
• Kiswel Inc. (Florence, U.S.)
• The Lincoln Electric Company (Ohio, U.S)
• Selectrode Industries, Inc. (New York, U.S.)
• Colfax Corporation (Delaware, U.S.)
• voestalpine Böhler Welding Group GmbH (Kapfenberg, Austria)
• Kobe Steel, Ltd. (Hyogo, Japan)
• Fronius International GmbH (Wels, Austria)
• Linde plc (Guildford, U.K.)
• Welding Alloys (Hertfordshire, U.K.)

Further Report Findings-

The U.S. welding consumables market share is expected to grow significantly during the projected period. The rising government incentives, the expansion of construction and railways, and the high consumption of steel for various applications are all contributing to the growth. Furthermore, OEMs are deploying technologies such as resistance, oxy-fuel, ultrasonic, and stir welding techniques, as well as the Internet of Things (IoT) across industries to supplement the industry growth.

Table of Segmentation