Us Welding Consumables Market
Welding Consumables Market (Product- Stick Electrodes, Solid Wires, Flux-cored Wires, SAW Wires and Fluxes; End-user – Automobiles & Transportation, Building & Construction, Marine Applications, Power sector, and Oil & Gas) – U.S. Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 -2023
Press Release :
U.S. Welding Consumables Market: Snapshot
The U.S. welding consumables market is primarily rising on the back of huge demand for steel from the building & construction sector. As per statutes laid down by the American Iron and Steel Institute, steel is a sustainable material for the construction of bridges, highways, and residential buildings. The revival of the construction sector post the economic slump of 2008 has serves to boost the growth of several ancillary industries such as welding consumables.
Apart from this, increasing depletion of renewable sources for power generation has led tapping into renewable sources. Industrial units that use renewable sources such as hydropower and geothermal for power generation heavily rely on welding consumables through various operational stages. Welding consumables are extensively used for joining materials for the fabrication of structural components and machinery in the power sector.
However, heavy dependence on imports for raw materials of welding consumables that are subject to availability uncertainties and price fluctuations is hampering the growth of U.S. welding consumables market to some extent. Owing to a number of factors, the U.S. welding consumables market is poised to clock a CAGR of 4.3% between 2016 and 2023.
Flux-cored Wires Product Segment to Continue to Lead through 2023
The welding consumables market in the U.S. is segmented in terms of product and end-use. By product, stick electrodes, flux-cored wires, solid wires, SAW flux and wires, and others are the segments into which the U.S. welding consumables market is divided. Of them, flux-cored wires currently hold dominance in the U.S. welding consumables market; going forward, the segment is anticipated to hold 36.4% of the market in 2023. On the other hand, vis-à-vis volume, solid wires held the second-leading share of the market in the recent past. This is because solid wires are extensively used for gas shielded metal arc welding applications such as railways, bridges, and industrial units.
The segment of SAW wires and fluxes is anticipated to gain in the upcoming years on the back of increasing use of advanced welding technologies across various end-use industries. On the contrary, stick electrodes is anticipated to decline in terms of volume share through 2023; the declined share of the segment is mainly due to rising demand of flux-cored wires and SAW fluxes and wires.
Host of Applications of Welding Consumables Make Building & Construction Sector Significant
In terms of end-use, the key segments into which the U.S. welding consumables market is divided are automobile & transportation, marine applications, oil & gas, building & construction, power sector, and others. Out of these, the others segment held the dominant share in the U.S. welding consumables market; going forward, the segment is estimated to constitute 28.8% of the market by 2023. The others segment comprise repair & maintenance and aerospace & aviation. Building & construction is anticipated to continue to remain the second-leading segment through 2023, this is mainly because of revival of the building & construction sector post the economic slump of 2008. Welding consumables are used in critical maintenance pursuits in the building & construction industry
Top companies operating in the U.S. welding consumables market are The Lincoln Electric Company, Illinois Tool Works Inc., ESAB, and voestalpine Böhler Welding GmbH. Some other companies in the U.S. welding consumables market are Kobe Steel Ltd., The Linde Group, Kiswel Inc., Welding Alloys Group, and Air Liquide S.A.
U.S. Welding Consumables Market: Overview
Transparency Market Research’s new publication presents a 6-year forecast of the U.S. welding consumables market for the 2017-2023 forecast timeframe. The report analyzes and forecasts the welding consumables market in the U.S. in terms of revenue (in US$ Mn) and volume (in Kilo tons).
The study looks into several drivers and restraints of the welding consumables market in the U.S. along with their impact on growth of the said market during the forecast period. The study also examines opportunities in the U.S. welding consumables market through the 2017-2023 forecast period. By and large, the report provides details about veritable aspects such as growth trends and product developments that could influence the growth of the U.S. welding consumables market through 2023.
The report covers detailed value chain analysis to provide a comprehensive view of the welding consumables market. It also includes analysis of Porter’s Five Forces model for welding consumables to assess the competitive landscape of the welding consumables market in the U.S.
U.S. Welding Consumables Market: Report Highlights
The research report provides a near-conclusive analysis of the U.S. welding consumables market by segmenting in terms of product and end-use. Product and end-use segments have been analyzed for past and current trends based on which their growth behavior in the future have been analyzed.
The report includes a detailed competitive dashboard, including market share and competitive positioning of key players. A detailed competitive profile of each of the players along with insights into their winning strategies is provided herein. Key companies profiled in the report include The Lincoln Electric Company, Illinois Tool Works Inc., The Linde Group, Air Liquide S.A., ESAB, voestalpine Böhler Welding GmbH, Hyundai Welding Co. Ltd., Hilarius Haarlem Holland B.V., Welding Alloys Group, Kobe Steel Ltd., and Kiswel Inc.
U.S. Welding Consumables Market: Research Methodology
The making of the report involved an extensive research phase. The combination of primary and secondary research phase have proven to be the most effective, reliable, and successful approach to obtain precise market data, along with a know-how of industry participants’ insights, and understanding of business opportunities.
The primary research phase in the making of the report comprised conducted in-depth interviews and discussions with a wide range of key industry experts and opinion leaders. Primary research represents majority of research efforts combined with an elaborate secondary research phase.
The secondary research phase involved reviewing key players’ annual reports, product literature, press releases, and trade documents. In addition, trade journals, industry business publications, internet sources, government websites, and trade associations were reached out in the secondary research phase.
Secondary sources reached out in the making of the report include ICIS, Factiva, World Steel Association, U.S. Energy Information Administration, Welding Web Forum, and America Welding Society.