Pune, May 16, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research, a global Electronics market research firm, has published a competitive intelligence and market research report on “Welding Electrode Market“. The Welding Electrode market size was valued at USD 5.1 Bn in 2022. The total Welding Electrode Market revenue is expected to grow at a CAGR of 7.9 percent from 2022 to 2029, reaching USD 8.68 Bn during the forecast period.
| Market Size in 2022 | USD 5.1 Bn |
| Market Size in 2029 | USD 8.68 Bn |
| CAGR | 7.9 percent (2022-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 260 |
| No. of Tables | 125 |
| No. of Charts and Figures | 115 |
| Segment Covered | By Electrode type, Coating type, Process, End-use industry, and Metal used |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Welding Electrode Market Scope and Research Methodology
The objective of the report is to present a comprehensive analysis of the Welding Electrode Market. The Welding Electrode Market is segmented by Electrode type, Coating type, Process, End-use industry, and Metal used. The Welding Electrode Market report is an investor guide that provides a comprehensive analysis of the competitive benchmarking of major market players in the market by revenue, financial status, portfolio, growth strategies, and geographical presence.
Major Service providers in the Welding Electrode Market are listed by region, total market revenue, financial status, and advancements in Welding Electrode adopted by the market players, and mergers & acquisitions. Data for analysis from the Welding Electrode industry research is collected by both primary and secondary research methods.
The report is a detailed analysis of the Welding Electrode Market by country, regional and global presence. The welding Electrode market size was estimated through a bottom-up approach. The new entrants in Welding Electrode Market were researched for growth prospects and future business outlooks. Restraints, drivers, challenges, and opportunities preventing the market growth are provided in the Welding Electrode Market report.
Welding Electrode Market Overview
The welding electrode is a consumable metal rod that conducts electricity and is used in various welding processes to join pieces of metal together. The selection of welding electrodes depends on weld strength, better bead quality, and minimal spatter. They need to be stored in moisture-free surroundings and removed from the package to avoid damage. The coating composition of welding electrodes determines their utility and composition of deposited weld metal. The market is highly competitive with a wide range of manufacturers and suppliers.
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The rise in industrialization and manufacturing activities to boost the Welding Electrode Market growth
Increased production of automobiles, machinery, and other equipment that requires welding is expected to boost the welding electrode market growth. The use of the machine is growing in various end-use industries such as automotive, machinery, and other equipment, which require welding. The demand for low-hydrogen electrodes reduces the risk of cracking and other defects in the welded joint and is expected to influence the demand for Welding Electrode.
Increasing competition from alternative welding technologies including laser welding and friction stir welding is expected to restrain the Welding Electrode Market growth. These technologies offer several advantages over traditional welding processes and act as a challenge for market growth. Various regulations and standards across the world to ensure the safety and quality of welding products are challenging factors for market growth.
Asia Pacific region to boost the Welding Electrode Market growth over the forecast period
Increasing demand for welding electrodes in the automotive and construction industries is expected to boost the regional Welding Electrode Market growth. China is a significant market for welding electrodes with a huge funding in construction activities. Rising demand from the residential and commercial sectors is expected to boost the regional welding electrode market growth. The presence of organized and unorganized Chinese players in the region is significantly contributing to the growth of the market.
Increasing advancement and adoption of new welding techniques across various industries in the Middle East and Africa are expected to boost the regional welding electrode market growth.
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Welding Electrode Market Segmentation
Based on Electrode type, the market is segmented into Stick electrodes, Flux-cored electrodes, Metal-cored electrodes, and Tungsten electrodes. The stick electrodes segment held the Welding Electrode Market share in 2022 and is expected to dominate the market over the forecast period. The use of Stick electrodes for manual welding processes such as shielded metal arc welding is expected to boost the market growth.
Based on process, the market is segmented into Shielded metal arc welding (SMAW), Gas metal arc welding (GMAW), Flux-cored arc welding (FCAW), Submerged arc welding (SAW), and Tungsten inert gas welding (TIG). Shielded metal arc welding (SMAW) held the largest market share in 2022 accounting for 40 percent of the market share in construction, oil & gas, and shipbuilding. These sectors is expected to boost the market growth.
By Electrode type
- Stick electrodes
- Flux-cored electrodes
- Metal-cored electrodes
- Tungsten electrodes
By Coating type
- Rutile electrodes
- Basic electrodes
- Cellulose electrodes
- Others
By Process
- Shielded metal arc welding (SMAW)
- Gas metal arc welding (GMAW)
- Flux-cored arc welding (FCAW)
- Submerged arc welding (SAW)
- Tungsten inert gas welding (TIG)
By End-use industry
- Automotive
- Construction
- Oil & gas
- Shipbuilding
- Aerospace & defence
- Others
By Metal used
- Mild Steel
- Stainless Steel
- Aluminium
- Copper Alloys
Welding Electrode Key Players include
- Lincoln Electric Holdings, Inc.
- ESAB Group, Inc.
- Kobelco Welding of America Inc.
- Illinois Tool Works Inc.
- Colfax Corporation
- ITW Welding Products Group
- The Harris Products Group
- Air Liquide S.A.
- The Linde Group
- voestalpine Böhler Welding GmbH
- EWM AG
- Fronius International GmbH
- Hilarius Haarlem Holland BV
- GYS
- Sandvik AB
- Welding Alloys Group
- Hyundai Welding Co., Ltd.
- Tianjin Bridge Welding Materials Group Co., Ltd.
- Ador Welding Limited
- Denyo Co., Ltd.
- Kiswel Inc.
- Obara Corporation
- Superon Schweisstechnik India Ltd.
- EASIGAS (Pty) Ltd - South Africa
- Alruqee Group - Saudi Arabia
- Sasol Limited - South Africa
- Emarat Europe - UAE
- ESAB Middle East FZE – UAE
- Indura - Santiago, Chile
- Soldeu S.A - Buenos Aires, Argentina
- Lincoln Electric Brazil - São Paulo, Brazil
- CONARCO S.A. - Buenos Aires, Argentina
- Condor S.A. - Buenos Aires, Argentina
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Key questions answered in the Welding Electrode Market are:
- What is Welding Electrode?
- What was the Welding Electrode market size in 2021?
- What is the expected Welding Electrode market size by 2029?
- What is the growth rate of the Welding Electrode Market?
- Which are the factors expected to drive the Welding Electrode market growth?
- Which factors are expected to restrain the Welding Electrode market growth?
- Which segment dominated the Welding Electrode market growth?
- What is the demand pattern for the Welding Electrode market?
- Which region held the largest share in the Welding Electrode market?
- Who are the key players in the Welding Electrode market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Electrode type, Coating type, Process, End-use industry, and Metal used
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Electronics research firm, has also published the following reports:
Graphite Electrodes Market: The total market size was valued at USD 6.4 Bn in 2021 and total size is expected to grow at a CAGR of 5.2 percent over the forecast period to reach USD 9.60 Bn. Rise in industrialization with modern infrastructures and increasing demand for engineering and construction materials is expected to boost the market growth.
Medical Electrodes Market: The total market size was valued at USD 1.8 Bn in 2021 and is estimated to grow at a CAGR of 3.2 percent over the forecast period to reach USD 2.24 Bn. Rising incidence of neurological & cardiovascular disorders is expected to boost the market growth.
Welding Helmets Market: The total market size is expected to reach USD 1140.05 Mn by 2029 with the CAGR of 4.7 percent during the forecast period. Increase in industries together with construction, production with growth in the utilization of semiautomatic and automatic robots is expected to boost the market growth.
Nickel Alloy Welding Consumables Market: The total market size is expected to reach USD 7.34 Bn by 2029, at a CAGR of 5.7 percent during the forecast period. Use of Nickel alloy due to its corrosion resistance, excessive-temperature strength, and their special magnetic and thermal expansion properties is expected to boost the market growth.
Robotic Welding Market: The total market size was valued at USD 5.05 Bn in 2021 and is expected to reach USD 10.10 Bn by 2029, at a CAGR of 9.05 percent during a forecast period. Benefits of the robotic welding system over traditional welding like costs of the system, rapid productivity, improved quality, and reduced waste is expected to boost the market growth.
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