DUBLIN--(BUSINESS WIRE)--The "U.S. Welding Consumables Market Size, Share & Trends Analysis 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The U.S. welding consumables market size is expected to reach USD 2.39 billion by 2028 and is expected to expand at a CAGR of 2.3% from 2021 to 2028.
The growing demand for the product due to rising automation in welding primarily in the automotive industry is expected to emerge as the primary growth driver for the market over the forecast period.
The market is fragmented with the presence of a number of global and regional players due to the vast potential of consumable sales in the country. Several manufacturers in the market operate their businesses as integrated entities to cut down the overhead costs. This is expected to be a major barrier for new players entering the market.
The construction industry in the U.S. witnessed rising construction starts in residential and commercial construction applications from 2017 to 2019, with the growth limited by the onset of COVID-19. In addition, factors such as the rising number of single-family houses and strengthening residential replacement in the country have propelled the demand for welding consumables.
U.S. Welding Consumables Market Report Highlights
- Based on technology, the oxy-fuel welding segment is expected to exhibit the highest CAGR of 3.5% from 2021 to 2028 on account of the high consumption rate of the products, driven by their widespread and rising application in industrial manufacturing
- By product, flux-cored wires are expected to expand at the highest CAGR of 3.5% from 2021 to 2028 on account of their increasing adoption driven by their high deposition rate, which results in the creation of a clean and strong weld in the applications, such as bridge construction, shipbuilding, and general fabrication
- The sales of solid wires are expected to increase due to their superior properties including flexibility and ruggedness, which results in an increase in their utility in application areas, including electrical wiring and breadboards
- Saw wires and fluxes are expected to witness significant growth over the forecast period owing to their high demand in applications such as exploration platforms, pressure vessels, fabrication of offshore drilling platforms, and post-weld heat treatment
- Key industry players focus on large projects in the area of engineering machinery, automotive and shipbuilding, infrastructure, energy and power distribution, and various others to gain a competitive advantage
- Colfax Corporation
- Veostalpine AG
- Air Liquide Welding, Ltd.
- The Lincoln Electric Company
- Illinois Tool Works, Inc.
- Hyundai Welding Co., Ltd.
- Kiswel, Inc.
- Sandvik AB
- Tianjin Bridge Welding Materials Co., Ltd.
- Obara Corporation
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