Global Welding Accessories Market 2017-2021

Overview of the global welding accessories market

Market research analysts at Technavio predict that the global welding accessories market will grow steadily during the next four years at a CAGR of around 5% by 2021. The growth of the global construction sector is identified as one of the primary growth factors for this market. Welding accessories are increasingly used in the construction industry, specifically for the welding of structural steel. The use of structural steel within the industry has become important and is considered as a vital raw material for this industry. Developments in new steel applications will lead to innovations in welding technology. Factors such as reliability, durability, and safety of steel structures are important in construction activities and the proper welding of the structural steel ensures that all the above mentioned factors are met. The growth of the construction sector will increase the demand for welding accessories to ensure the proper welding of steel structures, which will subsequently fuel market growth.

The advent of new materials is one of the latest trends that will contribute to the growth of this market in the forthcoming years. There is a significant demand for innovative technologies in the market and it is driven by the introduction and adoption of new materials that can be used for welding purposes. New processes such as modified spray transfer process and the minimization of distortions, prevention of burnthroughs, and reduction in weld spatter has led to the introduction of new materials with enhanced overall quality of the final product. Moreover, the adoption of new materials can also help in reducing the weight of the overall finished products and lead to lesser product and production cost.

Competitive landscape and key vendors  

The welding accessories market consists of large international players and is moderately fragmented. The market is capital-intensive which poses a stiff challenge to the local players. The small players are finding it difficult to compete with the international vendors especially in terms of quality, features, functionalities, and services. The introduction of products with new features and technologies will intemofy the level of competition in this marketspace.

The leading vendors in the market are -

• Colfax
• Fronius International
• Illinois Tool Works
• The Lincoln Electric Company

The other prominent vendors in the market are American Torch Tip, Arc Machines, GCE Group, Kobe Steel, NIMAK, OTC Daihen, Panasonic Welding Systems, Shenzhen Riland Industry, Senor Metals, and Telwin.

Segmentation by end-user and analysis of the welding accessories market

• Automotive
• Construction
• Aerospace and defense
• Marine

During 2016, the automotive segment accounted for the major shares of the welding accessories market. Factors such as the stringent requirements for quality, reliability, and precision will contribute to the growth of this industry segment in the coming years. The incorporation of robotics and automation technologies into the welding process in the automotive sector to weld automotive parts will also boost the segment's growth prospects in this market.

Geographical segmentation and analysis of the welding accessories market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the welding accessories market throughout the forecast period. The growing economic conditions and the growth of the major end-user industries such as the automotive, aerospace and defense, shipbuilding, and railways is leading to the growing demand for welding equipment in the region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global welding accessories market?
• What are the key market trends impacting the growth of the global welding accessories market?
• What are the challenges to market growth?
• Who are the key vendors in the global welding accessories market?
• What are the market opportunities and threats faced by the vendors in the global welding accessories market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global welding accessories market?

Technavio also offers customization on reports based on specific client requirement.

This upcoming industry research report on the global welding accessories market offers insights into the key trends and emerging drivers influencing the growth of the heavy industry sector. Our market research reports for the heavy industry also follow a scrupulous data collection methodology and offer an analysis of fast growing market segments like engineering tools.

By considering the market forecast and size, surging demand for various engineering tools, the market research experts at Technavio offer an all-inclusive picture of the welding accessories market for the estimated period of 2017 to 2021. Furthermore, our research practices support clients develop effective growth strategies and keep pace with the continually changing market landscape. This market study also offers a comprehensive analysis of various services based on the interpretation of the information gathered from specific resources such as channel partners and market stakeholders. This upcoming market research report on the welding accessories market also covers vendors like Colfax, Hyundai Welding, ITW, Lincoln Electric, Air Liquide, Arcon Welding Equipment, EWM, Eutectic, Denyo, Fronius International, and Hilarius Haarlem (HILCO).

This upcoming industry report on the welding accessories market also considers the growth of the related engineering tools market such as the global arc welding equipment market, which is expected project an impressive CAGR of more than 4% during the forecasted period. According to our market analysts, the emergence of new welding technologies is anticipated to impact the demand for welding accessories across the globe. Furthermore, to offer clients the scope to identify potential market opportunities and expand in niche markets, this report on the welding accessories market also covers geographies like the Americas, APAC, and EMEA.

The upcoming industry research report for gas and welding accessories also categorizes the key drivers, major trends, as well as the imminent challenges that the engineering tools sector are currently experiencing. It also presents key insights into the rapidly changing competitive scenario to give clients a complete view of the forthcoming events within the heavy industry. Technavio also provides deep-dive market assessments into the sectors such as test and measurement, tools and components, and construction.

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.