India Welding Consumables Market: Introduction
A new report by Transparency Market Research (TMR) discusses the vendor landscape of the India welding consumables market in detail. It states that the welding consumables market in India is witnessing immense competition among players both big and small. Leading companies operating in the welding consumables market in India are Lincoln Electric, Voestalpine A G, ESAB, Honavar Electrodes, Ador Welding Limited, and DH Sécheron, among others. Analysts from TMR have made an observation that there are several unorganized and small players of welding consumables in India that are expected to make a mark for themselves in the near future.
As per TMR, the welding consumables market in India is expected to be value over US$ 1.13 Bn by 2031. Based on product, the demand for wires and fluxes is expected to be high due to their high performance. They also carry several benefits, including suitability for outdoor work, use in automatic welding systems, low wastage, and high productivity. Flux-cored wires is predicted to be the fastest growing segment during the forecast period.
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In terms of application, the automotive transportation segment leads the welding consumables market in India. However, the power segment of the welding consumables market in India is estimated to expand at the fastest pace during the forecast period. Moderate growth is also forecast for marine and wear plate application segments of the welding consumables market in India.
Flourishing Building Construction Sector Driving India Welding Consumables Market
As per the lead author of this market research report, the welding consumables market in India is slated to be chiefly driven by the expanding building construction industry. Significant increase in investments in the energy sector as well as oil gas sector is also boosting the demand for welding consumables.
Advancements in technology and innovations in the same are likely to be key for widening the application areas of welding consumables. Therefore, players in the welding consumables market in India are advised to focus on technological advancements and invest in RD in order to create growth opportunities for themselves and the market overall.
Welding consumables are used across industries such as oil gas, marine, power generation, building construction, transportation, and automobile. Therefore, the demand for welding consumables in India is witnessing a steady increase with the growth of these industries. The welding consumables market in India is highly dependent on consumption of steel by several industries.
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Presence of International Competition to Threaten Players in India Welding Consumables Market
The report not only discusses the various factors helping the welding consumables market in India to grow but also focuses on the challenges faced by the welding consumables market in India. One of the key factors posing a challenge for players in the welding consumables market in India is the fluctuating raw material supply.
Another important factor that has a negative bearing on the market for welding consumables in India is the presence of competition from foreign companies. Furthermore, shortage of skilled labor adds to the number of limiting factors that are likely to restrain the welding consumables market in India from reaching its full potential.
India Welding Consumables Market: Segmentation
India Welding Consumables Market, by Product
- Stick Electrodes
- Solid Wires
- Flux-cored Wires
- SAW Wires Fluxes
- Others (including Gases)
India Welding Consumables Market, by Application
- Automobile Transportation
- Building Construction
- Oil Gas
- Wear Plates
- Others (including Repair Maintenance)
Solid Wire V/S Flux-cored Wires: Which is Better?
Companies in the India welding consumables market are increasing manufacturing for gas-shielded and self-shielded flux-cored wire electrodes. Though flux-cored wire electrodes allow for high deposition rate, they are associated with many disadvantages. For instance, a melted contact tip may occur if the electrode contacts the base metal and fuses the two together.
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Solid wire electrodes on the other hand are being manufactured by companies in the India welding consumables market, as they are found to be the best choice for working on thin materials including sheet metal. However, exposing the shielding gas to the wind can compromise the integrity of the weld. Hence, manufacturers and suppliers should increase awareness that the best choice for wire electrodes depends upon the welding job and location.
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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