Companies Profiled in the Market: The Lincoln Electric Company, KISWEL CO.LTD, KOBE STEEL.LTD, Colfax Corporation, Illinois Tool Works Inc., Fronius International GmbH, Hyundai Welding Co., Ltd.Linde plc, CS HOLDINGS LTD, Miller Electric Mfg. LLC, Selectrode Industries, Ltd. Obara Corporation, ARCON Welding, Welding Alloy Group, DENYO, Hobart Welding Products.
Pune, India, Oct. 25, 2021 (GLOBE NEWSWIRE) -- The U.S. welding consumables market size is projected to grow from USD 2.43 billion in 2021 to USD 3.35 billion in 2028. The emergence of various innovative welding technologies, such as oxy-fuel welding, friction, MIG & TIG, resistance spot, and laser beam has compelled manufacturers to utilize these consumables in the U.S. Fortune Business Insights™provided this information in a recent study, titled, “U.S. Welding Consumables Market, 2021-2028.” As per the study, the market stood at USD 2.37 billion in 2020. It is set to exhibit a CAGR of 4.7% in the forecast period between 2021-2028.
Welding Alloys Group Collaborates with Intelligence to Use Machine Learning
In January 2021, Welding Alloys Group (WAG), a provider of consumables, joined hands with Intellegensto utilize machine learning for preventing the issue of wear. Welding hard-facing materials or alloyed consumables various components can reduce wear. These consumables should also meet stringent standards, such as performance, environmental impact, cost, and safety. The usage of machine learning allowed WAG to develop an enhanced hard-facing material that can not only provide various advantages in terms of an environmental point of view but also performance.
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List of Key Players Covered in this Market Report
Illinois Tool Works Inc. (Glenview, U.S.)
KISWEL CO.LTD (Florence, U.S.)
Hyundai Welding Co., Ltd. (Gangnam-gu, South Korea)
The Lincoln Electric Company (CLEVELAND, U.S)
Selectrode Industries, Ltd. (New York, U.S.)
Colfax Corporation (Annapolis Junction, U.S.)
Obara Corporation (Yamanashi, Japan)
Welding Alloy Group (Hertfordshire, UK)
KOBE STEEL, LTD (Hyogo, Japan)
Fronius International GmbH (Wels, Austria)
Linde plc (Guildford, United Kingdom)
CS HOLDINGS LTD (Gyeongsangbuk-do, South Korea)
Miller Electric Mfg. LLC (Appleton, U.S.)
ARCON Welding (New Delhi, India)
DENYO (Tokyo, Japan)
Hobart Welding Products (Appleton, U.S.)
Report Scope & Segmentation -
Forecast Period 2021 to 2028 CAGR
2028 Value Projection
USD 3.35 Billion
Market Size in 2020
USD 2.37 Billion
Historical Data for
No. of Pages
Accelerated Demand for Welding Consumables across Industry Verticals to Propel Market Growth
Expensive Nature of Metal Fabrication Operations to Impede Market Growth
Reduced Manufacturing and Demand for Steel to Obstruct Growth amid COVID-19
The COVID-19 pandemic has reduced the demand for welding consumables from numerous end-use industries and hence impacted the industry drastically, with this market showing negative growth of -1.5% in 2020. The American Iron and Steel Institute (AISI), for instance, reported a decline of 18.1% in terms of the steel output in the U.S. in the last week of April 2020. This occurred because of the declining demand for steel and reduced manufacturing activities. Besides, the pandemic has compelled companies, such as the Lincoln Electric Company and Illinois Tool Works Inc. to create awareness among workers for promoting safe working cultures. Our research report will help you tackle the current situation in the U.S. welding consumables industry.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/u-s-welding-consumables-market-105150
Our skilled analysts have presented an in-depth picture of the U.S. welding consumables industry by summation, synthesis, and study of data from various crucial sources. They have also included multiple facets of the industry with the main focus on determining the significant market influencers. Thus, the data is reliable and comprehensive. It was gathered by conducting extensive primary and secondary researches.
Drivers & Restraints-
Surging Investments by Governments in Manufacturing Sector to Spur Growth
Nowadays, the consumption of steel is rising exponentially because of the resurgence from a wide range of industries, such as shipbuilding, energy, gas, oil, heavy engineering, and automotive. At the same time, the surging investments by government agencies across the globe to enhance the manufacturing sector are anticipated to propel the U.S. welding consumables market growth in the upcoming years. As per AGC, every year, the U.S.is develops infrastructures worth USD 1.3 trillion, which, in turn, would accelerate growth. However, the outbreak of the COVID-19 pandemic has reduced the price of steel, which, in turn, is expected to hinder growth.
Stick ElectrodesSegment Earned 28.5% Share in 2020: Fortune Business Insights™
The market is divided into heavy engineering, automotive and transportation, railways, construction, shipbuilding, and others, in terms of applications. Based on type, it is segregated into stick electrodes, SAW wires and fluxes, solid wires, and flux-cored wires. Amongst these, the SAW wires & fluxes segment is set to exhibit the highest CAGR throughout the forthcoming years. This growth is attributable to its increasing usage in heavy engineering and shipbuilding industries. The stick electrodes segment, on the other hand, generated 28.5% in terms of the U.S. welding consumables market share in 2020.
Key Players Aim to Offer Training Sessions to Welders for Improving Their Performances
The U.S. welding consumables industry houses a large number of companies that are striving persistently to train welders with state-of-the-art technologies, such as hybrid welding and resistance spot welding. The Lincoln Electric Company, for instance, is offering training to welders for improving their skills. Below is one of the latest industry developments:
December 2020:Welding Alloys France created TRI S RW, a novel cored wire, to meet the demand associated with the maintenance of urban rail networks. As the chemical formulation of this filler metal is unique, it is compatible with submerged arc welding and open arc welding. It can be easily used for every welding operation on grooved rails.
Quick Buy – U.S. Welding Consumables Market
Table Of Content
Definition, By Segment
Macro and Micro Economic Indicators
Drivers, Restraints,Opportunities and Trends
Impact of COVID-19 on Welding Consumables Market
Business Strategies Adopted by Key Players
Consolidated SWOT Analysis of Key Players
Porter’s Five Forces Analysis
U.S. Welding ConsumablesMarket Share Analysis and Matrix, 2020
KeyMarket Insights and Strategic Recommendations
Profiles of Key Players (Would be provided for 10 players only)
Key Details (Key details are subjected to data available in public domain and/or on paid databases)
Past and Current Revenue
Business Segment Share
Primary Interview Responses
Annexure / Appendix
U.S. Welding Consumables MarketAnalysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
By Type (Value)
SAW Wires & Fluxes
By Application (Value)
Automotive and Transportation
Others (Oil & Energy, Aerospace & Defense)
Have a Look at Related Research Insights:
Welding Market Size, Share & COVID-19 Impact Analysis, By Product Type (Welding Equipment and Consumables), By Welding Type (Arc, Resistance, Oxy-Acetylene Gas, Solid State and Others), By Application (Automotive, Building & Construction, Heavy Engineering, Railway & Shipbuilding, Oil & Gas and Others) and Regional Forecast, 2021-2028.
Welding Consumables Market Size, Share & COVID-19 Impact Analysis, By Type (Stick Electrodes, Solid Wires, Flux-cored Wires and SAW Wires & Fluxes), By Application (Heavy Engineering, Automotive, Railways, Construction, Shipbuilding and others) and Regional Forecast, 2020-2027.
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.
Welding Equipment Market Size, Share & Industry Analysis, By Technology (Arc Welding, Resistance Spot Welding, MIG/TIG Welding, Laser Beam Welding, and Others), By Automation Type (Automatic, Semi-Automatic, and Manual), By Application (Automotive, Building & Construction, Heavy Engineering, Railway & Shipbuilding, and Others) and Regional Forecast, 2019-2026.
Welding Wires Market Size, Share & Industry Analysis, By Type (Metal Inert Gas (MIG) Wire, Tungsten Inert Gas (TIG) Wire and Others), By Industry (Automotive, Building & Construction, Oil & Gas and Others) and Regional Forecast, 2019-2026
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