Welding Consumables Market Outlook (2023 to 2033)

The global welding consumables market is anticipated to be valued at US$ 18.02 billion in 2023. The market is expected to expand at a CAGR of 6% from 2023 to 2033, surpassing a valuation of US$ 32.27 billion by 2033.

Driving Forces:

  • Technological advancements fuel efficiency and quality in welding operations.
  • Increasing demand from construction, infrastructure, automotive, aerospace, and oil and gas sectors.
  • Rapid industrialization is driving the need for welding consumables.
  • Emphasis on safety and product quality boosting demand for reliable welding consumables.

Challenges:

  • Cost pressure and price volatility impact profit margins.
  • Compliance with environmental regulations and sustainability requirements.
  • Shortage of skilled labor hinders the adoption of advanced welding consumables.
  • Intense market competition necessitates differentiation strategies.

Investment Opportunities:

  • Research and development for innovative welding consumables aligned with market trends.
  • Expansion into emerging markets with untapped potential.
  • Strategic partnerships and collaborations to expand market reach.
  • Diversification of product portfolio to cater to diverse industry needs.

Trends:

  • Lightweight and high-strength materials drive demand for specialized welding consumables.
  • Automation and robotic welding systems improve precision and productivity.
  • Shift towards environmentally friendly welding consumables.
  • Adoption of digitalization and data analytics for optimized welding processes.
Attributes Value
Welding Consumables Market Valuation (2023) US$ 18.02 Billion
Welding Consumables Market Projected Size (2033) US$ 32.27 Billion
Welding Consumables Market Expected CAGR (2023 to 2033) 6%

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Historical Outlook: 2018 to 2022 Global Welding Consumables Market

The global welding consumables industry witnessed a substantial rise at a CAGR of 5.6% from 2018 to 2022. A surge in industrialization, particularly in developing economies, played a pivotal role in driving the market forward. The escalating demand for high-quality welding consumables and advancements in welding technologies propelled the market to new heights.

During this period, the construction and infrastructure sectors exhibited robust growth, increasing demand for welding consumables such as electrodes, wires, and fluxes. Moreover, the automotive and aerospace industries experienced significant expansion, further bolstering the market.

The rising emphasis on worker safety and the need for efficient welding operations also fueled the demand for premium welding consumables. Manufacturers responded by introducing innovative products with enhanced features, including improved arc stability, reduced spatter, and increased productivity. Furthermore, stringent environmental regulations prompted the development and adoption of eco-friendly welding consumables. This shift towards sustainable solutions positioned market players as responsible contributors to ecological conservation.

Future Forecast: 2023 to 2033 Welding Consumables Market Outlook

The welding consumables industry is expected to witness a compound annual growth rate (CAGR) of 6% during the forecast period. Looking ahead to 2023 to 2033, the global welding consumables market is poised for continued growth and evolution. Several factors are expected to shape the market landscape during this forecast period.

One of the key drivers of market expansion will be the ongoing industrialization in emerging economies. Rapid urbanization, infrastructure development projects, and the growing manufacturing sector will generate substantial demand for welding consumables across diverse industries. New materials and alloys with unique welding requirements will also present opportunities for specialized welding consumables. Lightweight and high-strength materials, such as aluminum and advanced steel, will require tailored consumables to ensure optimal weld quality and performance.

Nikhil Kaitwade
Nikhil Kaitwade

Principal Consultant

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Comparative View of the Welding Consumables Market

Welding Consumables Market:

Attributes Welding Consumables Market
Anticipated CAGR (2023 to 2033) 6%
Market Value (2023) US$ 18.02 billion
Growth Factor An increase in the application of welding robots and the usage of IoT for welding are the main drivers for the welding consumables market.
Future Opportunities The growth of automotive, transportation, and construction presents huge opportunities in front of the welding consumables market.
Market Trends Currently, welding consumables are equipped with safety features, which is expected to drive the demand for welding consumables further.

Welding Equipment Market:

Attributes Welding Equipment Market
Anticipated CAGR (2023 to 2033) 7%
Market Value (2023) US$ 14 billion
Growth Factor Shifting consumer preference from manual to automated machines drives the welding equipment market.
Future Opportunities/p> Increasing applications for shipbuilding, offshore applications, energy, etc., are expected to drive the welding equipment market in the future.
Market Trends The manufacturers are currently focusing on developing technologies that would train operators and save training costs.

Laser Welding Equipment Market:

Attributes Laser Welding Equipment Market
Anticipated CAGR (2023 to 2033) 4.8%
Market Value (2023) US$ 324.06 million
Growth Factor Adopting robots and reducing waste generation are currently the main market drivers for the growth of the laser welding equipment market.
Future Opportunities Increasing demand for heavy industrial materials and increasing medical device production sites present huge opportunities in front of the laser welding equipment market.
Market Trends The manufacturers are making use of additive manufacturing, thereby laying high emphasis on product geometry. This as well is currently driving the laser welding equipment market.

Drivers for the Welding Consumables Market

Increase in the application of welding robots

Welding robots are known to work with great precision and have effectively addressed a lot of safety concerns. Apart from that, they offer the most precise repeatability, as a result of which the time taken for mass production of certain items is drastically reduced.

Furthermore, the manufacturers also believe that the application of welding robots is known to optimize quality and minimize manufacturing costs. Apart from that, easy offline program generation and the ability to easily import third-party paths enable customers to swiftly take solid models from the digital world to real-time.

A cost-effective way of joining metals

The method of joining metals via coalescence using welding consumables is an economical and, at the same time, effective process for creating strong joints. Apart from that, the ability to produce a shield around unsuitable gas for avoiding oxidation and, at the same time, acting as a deoxidizer is expected to further increase the demand for welding consumables during the forecast period.

The ability to provide so many benefits at an economical cost has convinced investors to go in for the welding consumables.

Adoption of IoT

Incorporating the Internet of Things in the welding consumables market has changed the face of the market to a great extent for good. One of the primary advantages is that the IoT assists in gathering and monitoring the data that can be crucial for improving efficiency.

Apart from that, IoT can also provide valuable insights into what might work and what might not work on a long-term basis. Moreover, the application of IoT in welding consumables has also reduced the wastage of materials.

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Roadblocks on the way of Welding Consumables Market

The increasing price of raw materials

Supply chain management problems currently exist because of several conflicts taking place at the international level. This has led to an increase in the price of raw materials because of their lack of availability.

In some countries, the situation is like there is an acute shortage or even absence of raw materials, which has forced many organizations to temporarily suspend their operations.

Lack of skilled workers

If there is one factor that can potentially hamper the demand for welding consumables, it is the absence of skilled workers. Hence, the manufacturers must train the labor to display the required skills in automotive, marine, etc.

Growth of the Automotive, Transportation, and Construction Sector show bright prospects for Welding Consumables Market

The growth of the welding consumables sector is expected to be driven by the massive growth of the automotive, transportation, and construction sector. The reason is that the welding consumables are used for several reasons, like straightening, bending, surfacing, brazing, etc., in these sectors.

Additionally, increased usage of welding consumables for maintenance and repair purposes in sectors like aviation, automobile, etc., presents further opportunities for the market.

Regional Insights

Region Details
North America Based on the data available, it is anticipated that not much growth would be observed in the North American market. It is expected to be a steady market during the forecast period. However, the growth of robotics and IoT can change the fortunes of the welding consumables sector in this region. It is expected that the North American market anticipated to grow at a CAGR of 4% during the forecast period.
Europe Being home to many automobile and automotive manufacturers, the Europe market is expected to grow during the forecast period. Moreover, increasing investment in workers' safety is expected to propel the market growth going further. Apart from that, increased investment in renewable sources of energy might as well propel the market's growth in the region.
Asia Pacific Asia Pacific is expected to dominate the welding consumables market during the forecast period and is also expected to be the fastest-growing market. The Asia Pacific market was valued at nearly US$ 5 billion in 2022. The increasing adoption of welding robots in China and Japan represents attractive opportunities for the welding consumables sector. Moreover, owing to flexible government policies, key players in the construction, automation, and automotive segment have started investing in the Indian market.

Automotive Sector Driving Break-Free Growth of Welding Consumables Market in the United States

The welding consumables market in the United States is expected to expand at a modest CAGR of around 2.5% during the forecast period. The primary driver behind this anticipated growth is the increased application of automation in the automotive sector. As automation gains prominence, the demand for welding consumables is expected to surge, driven by the need for reliable and efficient welding solutions.

Manufacturing Capabilities Expansion Fuels Demand for Welding Consumables in the United States

To meet the growing demand and enhance production capabilities, manufacturers in the United States are taking strategic steps. This expansion of manufacturing capabilities is expected to increase welding consumables' application nationwide. As industrial plants aim to improve efficiency and productivity, utilizing welding products becomes vital in ensuring robust welding operations.

Rise of Low-Heat Input Welding Techniques Boosts Automation Adoption in the United States Automotive Industry

The automotive industry in the United States has witnessed increased adoption of low-heat input welding techniques. This shift has significantly contributed to the application of automation in automotive original equipment manufacturing (OEM). By embracing these techniques, the industry achieves enhanced precision and productivity, paving the way for the broader adoption of automation technologies in welding processes.

Infrastructure Development Drives Welding Consumables Demand in the United States

The United States is experiencing a notable increase in infrastructure activities, necessitating consistent welding of metal sheets and tubes. In these applications, oxy-fuel welding equipment plays a prominent role in straightening, brazing, and other welding-related operations. The demand for welding consumables in infrastructure development projects continues to grow as these materials ensure reliable and durable welds for critical structures.

Robotic Welding Surge: Increased Adoption Propels China Market at a Robust CAGR of 12%

The China market is witnessing substantial growth, primarily driven by the robust development activities in the robots and cobots market. Robotic welding, known for its superior speed, efficiency, and process monitoring capabilities, has emerged as a game-changer in the welding industry. The significant advantages of robotic welding tools and processes have propelled their adoption, fueling the demand for welding consumables in China.

Customized Metal Shapes Drive Demand for Welding Consumables in China Market

In China, the increased demand for customized metal shapes across various industries, including oil and gas, manufacturing, renewable energy, automobiles, and aviation, presents a significant opportunity for welding consumables. The versatility and adaptability of welding consumables allow for precise and reliable welding of complex metal structures, catering to the diverse needs of these industries.

Concrete Growth Opportunities: Japanese Construction Industry and Welding Consumables Market

The Japanese construction industry holds concrete growth opportunities for the welding consumables market. Approximately 13% of the industry's labor share is dedicated to welding and welding supplies-related activities. This highlights the significant potential for welding consumables in Japan, where welding is crucial in construction projects.

Hot-Laser Welding Machines: Driving Welding Consumables Adoption in Japan

Japan is expected to witness increased adoption of hot-laser welding machines, particularly for coating materials that utilize textiles and plastic. These advanced welding machines offer precise and efficient welding capabilities, improving productivity and quality in welding operations. The availability of such cutting-edge technology further drives the demand for welding consumables in the Japanese market.

India Market: Architecture and Engineering Industry Fueling Welding Consumables Growth

The Indian market is projected to grow at a CAGR of nearly 5.9% during the forecast period, with an expected valuation of US$ 1 billion by 2030. The architecture and engineering industry and the construction sector provide substantial growth opportunities for the welding consumables sector in India. The country's vibrant construction landscape, coupled with various infrastructure projects, creates a favorable environment for the application of welding consumables.

Innovative Gas Cylinders and Built-In Regulators: Driving Welding Consumables Growth in India

The presence of innovative gas cylinders in India has significantly contributed to the growth rate of the welding consumables market. These advanced cylinders ensure the safety of workers and optimize welding operations by integrating built-in regulators. The combination of innovative gas cylinder technology and optimized welding processes enhances the overall efficiency, reliability, and safety of welding operations in India.

Segment-wise Insights

By Welding Type, Arc Welding Type to have the Highest Market Share

The demand for arc welding type is expected to remain the highest during the forecast period. Having said that, the segment is facing stiff competition from different forms of beam welding techniques. The reason being these do not make use of electrodes. Moreover, the filler materials that are used in the beam welding technique do not impact the consumption of welding consumables.

Based on the Consumables, the Stick Electrodes are expected to exhibit the Highest Market Share

The stick electrodes segment is expected to occupy the highest market share, based on the data available from FMI analysts. They are expected to have a market share of US$ 8.97 billion over the forecast period. The stick welding electrodes are mainly used as filler materials for linking metals to protect them from any kind of damage.

However, if we talk about the fastest growing category, it is the wires because of their ruggedness and less surface area, which protects the metal from corrosion.

Based on the End Use, the Construction Segment is Expected to hold the Highest Market Share

The construction segment is likely to hold the highest market share during the forecast period. Rapid infrastructural development, along with technological developments in the construction sector, is expected to drive the construction segment during the forecast period. Moreover, increasing investments from governments across the globe to develop their infrastructure is another factor that might further surge the growth of the construction sector, as these make use of welding robots and welding rods.

Start-up Ecosystem

Being a relatively new niche for the start-up ecosystem, the entrepreneurs are taking gradual but strong steps to cater to the market using their innovative ideas.

Path Robotics is one such start-up, which was founded in 2014. The company provides solutions pertaining to robotic welding. It makes use of scanning, computer vision, and AI to adjust itself to different parts. Apart from that, the operations are further synergized when dealing with highly reflective materials, and it is in this phase that robotics is put into application.

In July 2022, Path Robotics managed to raise US$ 100 million in an investment round which was led by Tiger Global and also included the participation of Silicon Valley Bank. This round bought the total funding received by Path Robotics to US$ 171 million.

Competitive Landscape

In the fast-paced and competitive world of welding consumables, key players are engaged in fierce competition to establish their dominance in the market. These industry leaders employ various strategies to stay at the top while navigating challenges and capitalizing on investment opportunities.

The key players are introducing a wide range of welders, and these have been developed keeping in mind end users from different niches. Moreover, all the welders have been manufactured in such a way that they are portable enough to find their way in almost any place. The reason is that these are provided with multiple lift points and inverter technology that reduces weight and maximizes power.

Strategies for Success: Key Players' Approach

  • Innovation and Research: Leading companies prioritize innovation and invest in extensive research and development activities. They continuously strive to develop advanced welding consumables that offer improved performance, durability, and efficiency. By pushing the boundaries of technology, these companies cater to the evolving needs of their customers.
  • Strong Market Presence: Key players focus on building a strong market presence by establishing robust distribution networks, forging strategic partnerships, and expanding their geographical reach. They leverage their brand reputation and relationships with suppliers and distributors to ensure their welding consumables reach a wide customer base.
  • Customization and Tailored Solutions: Recognizing the diverse requirements of their customers, industry leaders offer customized welding consumables and tailored solutions. They collaborate closely with their clients, understanding their specific needs and providing products that address those requirements precisely. This customer-centric approach enhances customer satisfaction and loyalty.
  • After-Sales Support and Training: Maintaining strong customer relationships is crucial in the welding consumables industry. Key players provide comprehensive after-sales support, including technical assistance, troubleshooting, and training programs. By assisting customers in optimizing their welding processes, these companies build trust and long-term partnerships.

Recent Developments in the Market:

  • In July 2023, Lincoln Electric introduced the New POWER MIG 215 MPi Multi-process welder.
  • In June 2023, Air Products announced that it would invest US$ 500 million to build a green hydrogen production facility in New York.

Leaders in the Welding Consumables Industry: Setting the Benchmark

Taiyo Nippon Sanso: Innovating for Global Expansion

Taiyo Nippon Sanso stands out as a frontrunner in the welding consumables industry, focusing on the commercialization of innovative products through its strategic innovation approach. With a global business expansion plan for self-developed products and those acquired through open innovation, the company is committed to pushing the boundaries of welding technology. Taiyo Nippon Sanso also offers stable isotope-labeled compounds that find applications in various research fields, including medicine, biotechnology, chemistry, science, engineering, and nuclear energy. The company's proactive, collaborative, and nature-integrated philosophy, evident in its logo, represents its dedication to delivering superior quality and transparency. Recently, they announced a joint investment with Nippon Steel Corporation to establish the Kimitsu Sanso Center, further cementing their growth objectives.

Hyundai Welding: Unrivaled Welding Solutions

Renowned as a world-class welding company, Hyundai Welding prides itself on delivering the finest welding solutions to meet diverse industry needs. Their commitment to excellence shines through their provision of high-quality welding consumables and equipment. Hyundai Welding's Pohang R&D Center is at the forefront of developing welding solutions tailored to customer requirements. With a focus on high-functioning, eco-friendly, and highly efficient welding materials, the research institute consistently adapts to evolving market dynamics. By continuously addressing customer needs and anticipating global market changes, Hyundai Welding ensures that their welding solutions remain at the cutting edge of the industry.

VBC Group: Global Distribution Excellence

Recognized as a leading global distributor, VBC Group specializes in a comprehensive range of products, including welding wire, brazing alloys, and more. With an unwavering commitment to customer satisfaction, they prioritize timely product delivery. VBC Group's core markets encompass aerospace, aviation MRO, power generation, and thermal management technologies. Their extensive product portfolio ensures they cater to the unique demands of these industries. As a trusted partner in the welding consumables market, VBC Group remains dedicated to meeting customer expectations and maintaining its prominent position in the industry.

Key Companies Profiled

  • The Lincoln Electric Company
  • Illinois Tool Works Inc
  • Taiyo Nippon Sanso Corporation
  • Air Liquide SA.
  • Hyundai Welding Co, Ltd.
  • Air Products and Chemicals, Inc.
  • EWM AG
  • MESSER Group GmbH
  • Ador Welding Limited
  • WB Alloy Welding Products Limited
  • FSH Welding Group
  • GCE Group AB
  • Industrial Welding Corporation
  • The VBC Group Ltd.
  • Hilarius Haarlem Holland B.V.
  • Kiswel Ltd
  • Magmaweld
  • Gedik Welding
  • Chosun Welding
  • Selectrode Industries
  • D & H India
  • Yawata Electrode Co Ltd.

Welding Consumables Market Segmentation

By Consumables:

  • Stick Electrodes
    • Mild steel
    • Stainless steel
    • Low Alloy
    • Nickel
    • Aluminium
    • Others
  • Gases
  • Strip Cladding Electrodes
  • Submerged Arc wires and Fluxes
  • Wires
    • Metal cored wires
    • MIG/MAG wires
    • Flux Cored wires
  • Others

By Welding Type:

  • Arc Welding
    • Shield Metal Arc welding
    • Gas Metal Arc welding
    • Flux Cored Arc welding
    • Gas Tungsten Arc Welding
  • Energy Beam welding
  • Plasma Arc Welding
  • Submerged Arc welding
  • Electro Slag Welding
  • Resistance welding
  • Others

By End Use:

  • Automotive
  • Construction
  • Oil and Gas
  • Marine
  • Power Generation
  • Aerospace and Defence
  • Industrial Fabrication
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

Frequently Asked Questions

Where is the Higher Demand for Welding Consumables?

North America region generated maximum share of the global demand in 2023.

Which Country may Witness Higher Growth?

The United States is estimated to record 2.5% of CAGR through 2033.

Which is the Preferred by Welding Type?

An arc welding type segment contributes a maximum share in the global market.

Which End User is Securing Maximum Revenue?

The construction segment holds a maximum revenue of the global market share.

How the Welding Consumables Market Developed in the Past?

From 2018 to 2022, the global market exhibited 6% CAGR.

Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Investment Feasibility Matrix

    3.5. PESTLE and Porter’s Analysis

    3.6. Regulatory Landscape

        3.6.1. By Key Regions

        3.6.2. By Key Countries

    3.7. Regional Parent Market Outlook

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

    4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022

    4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Consumables

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Million) Analysis By Consumables, 2018 to 2022

    5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Consumables, 2023 to 2033

        5.3.1. Stick Electrodes

            5.3.1.1. Mild steel

            5.3.1.2. Stainless steel

            5.3.1.3. Low Alloy

            5.3.1.4. Nickel

            5.3.1.5. Aluminium

            5.3.1.6. Others

        5.3.2. Gases

        5.3.3. Strip Cladding Electrodes

        5.3.4. Submerged Arc wires and Fluxes

        5.3.5. Wires

            5.3.5.1. Metal cored wires

            5.3.5.2. MIG/MAG wires

            5.3.5.3. Flux Cored wires

        5.3.6. Others

    5.4. Y-o-Y Growth Trend Analysis By Consumables, 2018 to 2022

    5.5. Absolute $ Opportunity Analysis By Consumables, 2023 to 2033

6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Welding Type

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Million) Analysis By Welding Type, 2018 to 2022

    6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Welding Type, 2023 to 2033

        6.3.1. Arc Welding

            6.3.1.1. Shield Metal Arc welding

            6.3.1.2. Gas Metal Arc welding

            6.3.1.3. Flux Cored Arc welding

            6.3.1.4. Gas Tungsten Arc Welding

        6.3.2. Energy Beam welding

        6.3.3. Plasma Arc Welding

        6.3.4. Submerged Arc welding

        6.3.5. Electro Slag Welding

        6.3.6. Resistance welding

        6.3.7. Others

    6.4. Y-o-Y Growth Trend Analysis By Welding Type, 2018 to 2022

    6.5. Absolute $ Opportunity Analysis By Welding Type, 2023 to 2033

7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 

    7.1. Introduction / Key Findings

    7.2. Historical Market Size Value (US$ Million) Analysis By End Use, 2018 to 2022

    7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End Use, 2023 to 2033

        7.3.1. Automotive

        7.3.2. Construction

        7.3.3. Oil and Gas

        7.3.4. Marine

        7.3.5. Power Generation

        7.3.6. Aerospace and Defence

        7.3.7. Industrial Fabrication

        7.3.8. Others

    7.4. Y-o-Y Growth Trend Analysis By End Use, 2018 to 2022

    7.5. Absolute $ Opportunity Analysis By End Use, 2023 to 2033

8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region

    8.1. Introduction

    8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022

    8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033

        8.3.1. North America

        8.3.2. Latin America

        8.3.3. Western Europe

        8.3.4. Eastern Europe

        8.3.5. South Asia and Pacific

        8.3.6. East Asia

        8.3.7. Middle East and Africa

    8.4. Market Attractiveness Analysis By Region

9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        9.2.1. By Country

            9.2.1.1. U.S.

            9.2.1.2. Canada

        9.2.2. By Consumables

        9.2.3. By Welding Type

        9.2.4. By End Use

    9.3. Market Attractiveness Analysis

        9.3.1. By Country

        9.3.2. By Consumables

        9.3.3. By Welding Type

        9.3.4. By End Use

    9.4. Key Takeaways

10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        10.2.1. By Country

            10.2.1.1. Brazil

            10.2.1.2. Mexico

            10.2.1.3. Rest of Latin America

        10.2.2. By Consumables

        10.2.3. By Welding Type

        10.2.4. By End Use

    10.3. Market Attractiveness Analysis

        10.3.1. By Country

        10.3.2. By Consumables

        10.3.3. By Welding Type

        10.3.4. By End Use

    10.4. Key Takeaways

11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        11.2.1. By Country

            11.2.1.1. Germany

            11.2.1.2. U.K.

            11.2.1.3. France

            11.2.1.4. Spain

            11.2.1.5. Italy

            11.2.1.6. Rest of Western Europe

        11.2.2. By Consumables

        11.2.3. By Welding Type

        11.2.4. By End Use

    11.3. Market Attractiveness Analysis

        11.3.1. By Country

        11.3.2. By Consumables

        11.3.3. By Welding Type

        11.3.4. By End Use

    11.4. Key Takeaways

12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        12.2.1. By Country

            12.2.1.1. Poland

            12.2.1.2. Russia

            12.2.1.3. Czech Republic

            12.2.1.4. Romania

            12.2.1.5. Rest of Eastern Europe

        12.2.2. By Consumables

        12.2.3. By Welding Type

        12.2.4. By End Use

    12.3. Market Attractiveness Analysis

        12.3.1. By Country

        12.3.2. By Consumables

        12.3.3. By Welding Type

        12.3.4. By End Use

    12.4. Key Takeaways

13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        13.2.1. By Country

            13.2.1.1. India

            13.2.1.2. Bangladesh

            13.2.1.3. Australia

            13.2.1.4. New Zealand

            13.2.1.5. Rest of South Asia and Pacific

        13.2.2. By Consumables

        13.2.3. By Welding Type

        13.2.4. By End Use

    13.3. Market Attractiveness Analysis

        13.3.1. By Country

        13.3.2. By Consumables

        13.3.3. By Welding Type

        13.3.4. By End Use

    13.4. Key Takeaways

14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        14.2.1. By Country

            14.2.1.1. China

            14.2.1.2. Japan

            14.2.1.3. South Korea

        14.2.2. By Consumables

        14.2.3. By Welding Type

        14.2.4. By End Use

    14.3. Market Attractiveness Analysis

        14.3.1. By Country

        14.3.2. By Consumables

        14.3.3. By Welding Type

        14.3.4. By End Use

    14.4. Key Takeaways

15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        15.2.1. By Country

            15.2.1.1. GCC Countries

            15.2.1.2. South Africa

            15.2.1.3. Israel

            15.2.1.4. Rest of MEA

        15.2.2. By Consumables

        15.2.3. By Welding Type

        15.2.4. By End Use

    15.3. Market Attractiveness Analysis

        15.3.1. By Country

        15.3.2. By Consumables

        15.3.3. By Welding Type

        15.3.4. By End Use

    15.4. Key Takeaways

16. Key Countries Market Analysis

    16.1. U.S.

        16.1.1. Pricing Analysis

        16.1.2. Market Share Analysis, 2022

            16.1.2.1. By Consumables

            16.1.2.2. By Welding Type

            16.1.2.3. By End Use

    16.2. Canada

        16.2.1. Pricing Analysis

        16.2.2. Market Share Analysis, 2022

            16.2.2.1. By Consumables

            16.2.2.2. By Welding Type

            16.2.2.3. By End Use

    16.3. Brazil

        16.3.1. Pricing Analysis

        16.3.2. Market Share Analysis, 2022

            16.3.2.1. By Consumables

            16.3.2.2. By Welding Type

            16.3.2.3. By End Use

    16.4. Mexico

        16.4.1. Pricing Analysis

        16.4.2. Market Share Analysis, 2022

            16.4.2.1. By Consumables

            16.4.2.2. By Welding Type

            16.4.2.3. By End Use

    16.5. Germany

        16.5.1. Pricing Analysis

        16.5.2. Market Share Analysis, 2022

            16.5.2.1. By Consumables

            16.5.2.2. By Welding Type

            16.5.2.3. By End Use

    16.6. U.K.

        16.6.1. Pricing Analysis

        16.6.2. Market Share Analysis, 2022

            16.6.2.1. By Consumables

            16.6.2.2. By Welding Type

            16.6.2.3. By End Use

    16.7. France

        16.7.1. Pricing Analysis

        16.7.2. Market Share Analysis, 2022

            16.7.2.1. By Consumables

            16.7.2.2. By Welding Type

            16.7.2.3. By End Use

    16.8. Spain

        16.8.1. Pricing Analysis

        16.8.2. Market Share Analysis, 2022

            16.8.2.1. By Consumables

            16.8.2.2. By Welding Type

            16.8.2.3. By End Use

    16.9. Italy

        16.9.1. Pricing Analysis

        16.9.2. Market Share Analysis, 2022

            16.9.2.1. By Consumables

            16.9.2.2. By Welding Type

            16.9.2.3. By End Use

    16.10. Poland

        16.10.1. Pricing Analysis

        16.10.2. Market Share Analysis, 2022

            16.10.2.1. By Consumables

            16.10.2.2. By Welding Type

            16.10.2.3. By End Use

    16.11. Russia

        16.11.1. Pricing Analysis

        16.11.2. Market Share Analysis, 2022

            16.11.2.1. By Consumables

            16.11.2.2. By Welding Type

            16.11.2.3. By End Use

    16.12. Czech Republic

        16.12.1. Pricing Analysis

        16.12.2. Market Share Analysis, 2022

            16.12.2.1. By Consumables

            16.12.2.2. By Welding Type

            16.12.2.3. By End Use

    16.13. Romania

        16.13.1. Pricing Analysis

        16.13.2. Market Share Analysis, 2022

            16.13.2.1. By Consumables

            16.13.2.2. By Welding Type

            16.13.2.3. By End Use

    16.14. India

        16.14.1. Pricing Analysis

        16.14.2. Market Share Analysis, 2022

            16.14.2.1. By Consumables

            16.14.2.2. By Welding Type

            16.14.2.3. By End Use

    16.15. Bangladesh

        16.15.1. Pricing Analysis

        16.15.2. Market Share Analysis, 2022

            16.15.2.1. By Consumables

            16.15.2.2. By Welding Type

            16.15.2.3. By End Use

    16.16. Australia

        16.16.1. Pricing Analysis

        16.16.2. Market Share Analysis, 2022

            16.16.2.1. By Consumables

            16.16.2.2. By Welding Type

            16.16.2.3. By End Use

    16.17. New Zealand

        16.17.1. Pricing Analysis

        16.17.2. Market Share Analysis, 2022

            16.17.2.1. By Consumables

            16.17.2.2. By Welding Type

            16.17.2.3. By End Use

    16.18. China

        16.18.1. Pricing Analysis

        16.18.2. Market Share Analysis, 2022

            16.18.2.1. By Consumables

            16.18.2.2. By Welding Type

            16.18.2.3. By End Use

    16.19. Japan

        16.19.1. Pricing Analysis

        16.19.2. Market Share Analysis, 2022

            16.19.2.1. By Consumables

            16.19.2.2. By Welding Type

            16.19.2.3. By End Use

    16.20. South Korea

        16.20.1. Pricing Analysis

        16.20.2. Market Share Analysis, 2022

            16.20.2.1. By Consumables

            16.20.2.2. By Welding Type

            16.20.2.3. By End Use

    16.21. GCC Countries

        16.21.1. Pricing Analysis

        16.21.2. Market Share Analysis, 2022

            16.21.2.1. By Consumables

            16.21.2.2. By Welding Type

            16.21.2.3. By End Use

    16.22. South Africa

        16.22.1. Pricing Analysis

        16.22.2. Market Share Analysis, 2022

            16.22.2.1. By Consumables

            16.22.2.2. By Welding Type

            16.22.2.3. By End Use

    16.23. Israel

        16.23.1. Pricing Analysis

        16.23.2. Market Share Analysis, 2022

            16.23.2.1. By Consumables

            16.23.2.2. By Welding Type

            16.23.2.3. By End Use

17. Market Structure Analysis

    17.1. Competition Dashboard

    17.2. Competition Benchmarking

    17.3. Market Share Analysis of Top Players

        17.3.1. By Regional

        17.3.2. By Consumables

        17.3.3. By Welding Type

        17.3.4. By End Use

18. Competition Analysis

    18.1. Competition Deep Dive

        18.1.1. The Lincoln Electric Company

            18.1.1.1. Overview

            18.1.1.2. Product Portfolio

            18.1.1.3. Profitability by Market Segments

            18.1.1.4. Sales Footprint

            18.1.1.5. Strategy Overview

                18.1.1.5.1. Marketing Strategy

        18.1.2. Illinois Tool Works Inc

            18.1.2.1. Overview

            18.1.2.2. Product Portfolio

            18.1.2.3. Profitability by Market Segments

            18.1.2.4. Sales Footprint

            18.1.2.5. Strategy Overview

                18.1.2.5.1. Marketing Strategy

        18.1.3. Taiyo Nippon Sanso Corporation

            18.1.3.1. Overview

            18.1.3.2. Product Portfolio

            18.1.3.3. Profitability by Market Segments

            18.1.3.4. Sales Footprint

            18.1.3.5. Strategy Overview

                18.1.3.5.1. Marketing Strategy

        18.1.4. Air Liquide S.A.

            18.1.4.1. Overview

            18.1.4.2. Product Portfolio

            18.1.4.3. Profitability by Market Segments

            18.1.4.4. Sales Footprint

            18.1.4.5. Strategy Overview

                18.1.4.5.1. Marketing Strategy

        18.1.5. Hyundai Welding Co, Ltd.

            18.1.5.1. Overview

            18.1.5.2. Product Portfolio

            18.1.5.3. Profitability by Market Segments

            18.1.5.4. Sales Footprint

            18.1.5.5. Strategy Overview

                18.1.5.5.1. Marketing Strategy

        18.1.6. Air Products and Chemicals, Inc.

            18.1.6.1. Overview

            18.1.6.2. Product Portfolio

            18.1.6.3. Profitability by Market Segments

            18.1.6.4. Sales Footprint

            18.1.6.5. Strategy Overview

                18.1.6.5.1. Marketing Strategy

        18.1.7. EWM AG

            18.1.7.1. Overview

            18.1.7.2. Product Portfolio

            18.1.7.3. Profitability by Market Segments

            18.1.7.4. Sales Footprint

            18.1.7.5. Strategy Overview

                18.1.7.5.1. Marketing Strategy

        18.1.8. MESSER Group GmbH

            18.1.8.1. Overview

            18.1.8.2. Product Portfolio

            18.1.8.3. Profitability by Market Segments

            18.1.8.4. Sales Footprint

            18.1.8.5. Strategy Overview

                18.1.8.5.1. Marketing Strategy

        18.1.9. Ador Welding Limited

            18.1.9.1. Overview

            18.1.9.2. Product Portfolio

            18.1.9.3. Profitability by Market Segments

            18.1.9.4. Sales Footprint

            18.1.9.5. Strategy Overview

                18.1.9.5.1. Marketing Strategy

        18.1.10. WB Alloy Welding Products Limited

            18.1.10.1. Overview

            18.1.10.2. Product Portfolio

            18.1.10.3. Profitability by Market Segments

            18.1.10.4. Sales Footprint

            18.1.10.5. Strategy Overview

                18.1.10.5.1. Marketing Strategy

        18.1.11. FSH Welding Group

            18.1.11.1. Overview

            18.1.11.2. Product Portfolio

            18.1.11.3. Profitability by Market Segments

            18.1.11.4. Sales Footprint

            18.1.11.5. Strategy Overview

                18.1.11.5.1. Marketing Strategy

        18.1.12. GCE Group AB

            18.1.12.1. Overview

            18.1.12.2. Product Portfolio

            18.1.12.3. Profitability by Market Segments

            18.1.12.4. Sales Footprint

            18.1.12.5. Strategy Overview

                18.1.12.5.1. Marketing Strategy

        18.1.13. Industrial Welding Corporation

            18.1.13.1. Overview

            18.1.13.2. Product Portfolio

            18.1.13.3. Profitability by Market Segments

            18.1.13.4. Sales Footprint

            18.1.13.5. Strategy Overview

                18.1.13.5.1. Marketing Strategy

        18.1.14. The VBC Group Ltd.

            18.1.14.1. Overview

            18.1.14.2. Product Portfolio

            18.1.14.3. Profitability by Market Segments

            18.1.14.4. Sales Footprint

            18.1.14.5. Strategy Overview

                18.1.14.5.1. Marketing Strategy

        18.1.15. Hilarius Haarlem Holland B.V.

            18.1.15.1. Overview

            18.1.15.2. Product Portfolio

            18.1.15.3. Profitability by Market Segments

            18.1.15.4. Sales Footprint

            18.1.15.5. Strategy Overview

                18.1.15.5.1. Marketing Strategy

        18.1.16. Kiswel Ltd

            18.1.16.1. Overview

            18.1.16.2. Product Portfolio

            18.1.16.3. Profitability by Market Segments

            18.1.16.4. Sales Footprint

            18.1.16.5. Strategy Overview

                18.1.16.5.1. Marketing Strategy

        18.1.17. Magmaweld

            18.1.17.1. Overview

            18.1.17.2. Product Portfolio

            18.1.17.3. Profitability by Market Segments

            18.1.17.4. Sales Footprint

            18.1.17.5. Strategy Overview

                18.1.17.5.1. Marketing Strategy

        18.1.18. Gedik Welding

            18.1.18.1. Overview

            18.1.18.2. Product Portfolio

            18.1.18.3. Profitability by Market Segments

            18.1.18.4. Sales Footprint

            18.1.18.5. Strategy Overview

                18.1.18.5.1. Marketing Strategy

        18.1.19. Chosun Welding

            18.1.19.1. Overview

            18.1.19.2. Product Portfolio

            18.1.19.3. Profitability by Market Segments

            18.1.19.4. Sales Footprint

            18.1.19.5. Strategy Overview

                18.1.19.5.1. Marketing Strategy

        18.1.20. Selectrode Industries

            18.1.20.1. Overview

            18.1.20.2. Product Portfolio

            18.1.20.3. Profitability by Market Segments

            18.1.20.4. Sales Footprint

            18.1.20.5. Strategy Overview

                18.1.20.5.1. Marketing Strategy

19. Assumptions & Acronyms Used

20. Research Methodology

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