Published: Mar, 2017
The welding consumables market in India is moderately fragmented with top six players holding almost 30% of the overall market in 2013, notes a recent research report from Transparency Market Research (TMR). Some of the top players such as Elektriska Svetsnings Aktie Bolaget (ESAB), Lincoln Electric, and Voestalpine Bohler are present in international markets that face intense competition from domestic players such as Ador Welding, D& H Welding Electrodes Ltd, and D&H Sécheron Group.
The top companies in this market are at an advantage as they have built their own distribution networks and a network of wholly owned subsidiaries. This, along with a strong brand equity, is the success mantra for these companies. The market is also represented by a several medium-sized and small players that are competing with their low-priced product offerings. Moreover, exports from South Korean companies is increasing the degree of competition in the India market for welding consumables.
Currently, companies in this market are investing for the expansion of production capacities of welding consumables for competitive gains. They are also strategizing for partnerships and acquisitions for increased presence in the India welding consumables market.
The Indian welding consumables market stood at INR 30.88 bn in 2013 and is projected to reach a valuation of INR 45.37 bn by the end of 2020 pegging a CAGR of 5.6% from 2014 and 2020. The market stood at 255.1 kilo tons in 2013 in terms of volume.
Solid Wires to Display Preference for Economic Benefits
Welding stick electrodes stood as the largest product segment with a share of more than 45% in the India welding consumables market in 2013. Stick electrodes are mainly used for manual welding procedures and are the most befitting low cost alternative over other welding consumables products. Stick electrodes are particularly suitable for mild welding applications.
However, the wires and fluxes product segment is expected to display significant demand in the coming years due to their superior performance. Moreover, factors such as low wastage, higher productivity and extensive usage among several welding technologies, and suitability for automated welding systems and outdoor work are expected to lead to increased preference for solid wires and flux-cored wires. Hence, the market share for stick electrodes is declining to other newer products.
SAW wires and fluxes is expected to display moderate growth with a share of more than 7% in the overall market by 2020. Flux cored wires is expected to be the fastest growing product segment over the market’s forecast period.
Expanding Production Capacity of Public Sector Oil & Gas Enterprises Bodes Well for Market
The welding consumables market in India is on the rise due to constant technological advancements and significant growth of end-use industries. Some of the key end users that are driving the welding consumables market in India include automobile and transportation, oil & gas, and building & construction.
In 2013, automobile and transportation stood as the largest application segment with a share of more than 25% in the overall market. Welding is employed at almost each step of automobile production. It is used in the production of automobile components such as transmission components, engines, and fuel injectors. Furthermore, the oil & gas industry in India is expected to account for a significant growth of the Indian welding consumables market due to capacity expansion of some of the top public sector enterprises in the country.
However, dearth of raw materials and increasing exports of welding consumables from neighboring countries of South East Asia may challenge the growth of the welding consumables market in India.
The review presented in the report is based on the findings of a Transparency Market Research report, titled “Welding Consumables Market - India Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”
The welding consumables market in India is segmented as follows:
Welding Consumables Market & India Product Segment Analysis
- Stick electrodes
- Solid wires
- Flux-cored wires
- SAW wires and fluxes
- Others (Including gases, etc.)
Welding Consumables Market – India Application Analysis
- Automobile & transportation
- Building & construction
- Power sector
- Oil & gas
- Wear plate
- Others (Including repair and maintenance, etc.)
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