Welding Electrode Market to reach USD 8.68 Bn by 2029 at a growth rate of 7.9 percent over the forecast period

Jul 03, 2023

Welding Electrode Market is segmented by Electrode type, Coating type, Process, End-use industry, and Metal used. Bottom-up approach was used to estimate the Welding Electrode Market size. The rise in industrialization and manufacturing activities is expected to boost the Welding Electrode Market growth.

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

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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.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.