Research analysis on the global solid wires market identifies that the growing demand of welding wires from the wind energy industry will be one of the major factors that will have a positive impact on the growth of the market. The cans require internal and external longitudinal welding, while the tacking, forming, and welding of internal and external circumferential joints are mandatory for the formation of the tower. Owing to the growth in the installed capacity of wind energy, there will be an increase in the demand for installing wind towers. This will lead to the growth in demand for welding consumables, such as stick electrodes and solid wires. Technavio's market research analysts predict that this market will generate a revenue of more than USD 6.1 billion by 2021.
The emergence of laser wielding equipment will be one of the latest trends that will gain traction in the solid wires market during the next four years. This equipment can be used to weld a wide range of materials, especially materials with high melting points and high heat conduction properties. Laser welding equipment offer high flexibility, precision levels, and productivity that aids in mass production. This will in turn, increase the demand for the same from the medical device, photovoltaics, and entertainment electronics sectors.
Competitive landscape and key vendors
This market is moderately fragmented and is highly capital-intensive. The small players in this marketspace find it difficult to compete with the international vendors especially in terms of factors such as functionalities, quality, features, and services. With the introduction of products with new technologies and features, the level of competition among the players in this marketspace will intensify in the coming years.
The leading vendors in the market are -
Illinois Tool Works (ITW)
The Lincoln Electric Company
The other prominent vendors in the market are Ador Fontech Limited, Ador Welding, Air Liquide, Berkenhoff, BOC (The Linde Group), Ceweld Nederland, D&H Sécheron, Daido Steel, Gedik Welding, Harris Products Group, Haynes International, Hobart Brothers Company, IABCO, ITALFIL, Jiangsu ZhongJiang Welding Wire, KEI Industries, Kobe Steel, LaserStar Technologies, Luvata, Heico Wire Group, NovaTech, Saarstahl, Sandvik (Sandvik Materials Technology), Sumitomo Electric Industries, The Indian Steel & Wire Products, Tianjin Bridge Welding Materials Group, voestalpine Böhler Welding, and WeldWire.
Segmentation by end-user and analysis of the global solid wires market
During 2016, the automotive segment accounted for the major shares of this market. The automotive industry involves the design, manufacture, and sales of motor vehicles across the globe. The induty witnessed considerabe growth in the recent years and tgis trend is expected to continue during the next few years as well. This will fuel the growth of the solid wires market in this segment.
Geographical segmentation and analysis of the global solid wires market
This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the market till 2021. The increasing production for automobiles in the region due to the presence of favorable government policies and low-cost of manufacturing in countries such as India, will drive market growth. Additionally, the growth of the construction industry in China that is witnessing an increase in the number of skyscrapers, will also augment the market's growth prospects in this 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 solid wires market?
What are the key market trends impacting the growth of the global solid wires market?
What are the challenges to market growth?
Who are the key vendors in the global solid wires market?
What are the market opportunities and threats faced by the vendors in the global solid wires 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 solid wires market?
Technavio also offers customization on reports based on specific client requirement.
A solid wire is typically used for solid gas metal arc welding and composite GMAW welding methods. This upcoming research report on the global solid wires market offers an extensive industry analysis by considering the key market drivers and emerging trends that are augmenting the growth of the heavy industry sector. Our reports for the heavy industry also follow a comprehensive research approach to offer an industry outlook of fast growing market segments like tools and components.
This upcoming market research report on the global solid wires market is aimed to help clients design new growth policies based on the assessment of key factors like market size, market growth, and market forecast for the period of 2017 to 2021. Furthermore, our team of research analysts furnish a holistic market overview of the tools and components sector by pursuing a combination of primary and secondary research techniques comprising of industry journals, vendor briefings, company reports, and publications.
This report on the global solid wires market also covers vendors like ESAB, ITW, and Lincoln Electric. Furthermore, to offer clients the scope to identify potential market opportunities and expand in niche market segments, this report on the global solid wires market also covers geographies such as the Americas, APAC, and EMEA.
The upcoming industry research report for global solid wires market also shortlists the key drivers, emerging trends, as well as the restraints that the tools and components sector currently faces. This upcoming report on the global solid wires market also presents insights into the rapidly changing competitive landscape to offer clients a complete picture of the forthcoming events within the heavy industry. Technavio also provides deep insights into the sectors such as test and measurement and engineering tools.
Our market research methodology for the global solid wires market
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.