The Hurricane Katrina disaster has led to vigorous investments in the Gulf Coast. This will likely fuel the growth of the North American welding industry.
New analysis from Frost & Sullivan (industrialautomation&processcontrol.frost.com), North American Arc Welding Equipment Market, finds that the market earned revenues of $865.0 million in 2006 and expects to reach $1,297.3 million in 2013. The gas metal arc welding (GMAW)/flux cored arc welding market contributed revenues of $485.3 million in 2006, and estimates this to reach $717.3 million in 2013.
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"Investments in energy and nonresidential construction sectors are expected to increase and peak between 2008 and 2010, owing to the strong fundamentals of the segment and broad investment pattern," remarks Frost & Sullivan Industry Analyst L S Padmakumar. "Moreover, energy security policies and framework are moving in a direction that can rope in fresh investments from 2008 to 2010 and is expected to fuel the growth of the North American arc welding equipment market."
The North American welding industry holds a major constituent of the $15.0 billion global welding industry by consuming more than one-third of the welding equipment and filler metals, with an increased focus in automation and welding-related safety equipment. Only companies that provide products or services that meet the end-user requirements of productivity, occupational health and environmental safety will fully sustain their market position.
Hybrid technologies such as GMAW-Laser and niche technologies, which include orbital tungsten inert gas (TIG) and friction stir welding, have begun to emerge strongly in order to meet rising productivity demands and satisfy the requirements due to the increasing disappearance of welding-related labor.
However, the shift of the industrial manufacturing base to emerging economies relates to the relatively lower labor costs thus challenging equipment manufacturers in North America to deliver consistent products at the same or lower price.
"Original equipment manufacturers (OEMs) should focus on curbing the possible loss of revenue by venturing into diverse geographies and expanding product lines through mergers or acquisitions," explains Padmakumar. "They must meticulously pursue cost-saving initiatives at the development stage of a new product or product improvements, with robust segmentation, differentiation, and marketing mix plans."
Current leaders and emerging companies need to identify and serve a particular target very well and build functional policies around the core focus area. Firms, then, can serve their narrow, yet strategic target more effectively and efficiently than competitors that are competing more broadly. This in itself leads to a differentiation and low-cost leadership.
Synergizing with the latest in technology of fixed automation or robotics will raise the perceived image levels among the consumers. As the main business evolves, firms need to aggressively focus on adopting plans for product improvements, sales force deployment, and promotional activities.
North American Arc Welding Equipment Market is part of the Industrial Automation and Process Control Growth Partnership Service program, which also includes research in the following markets: European welding equipment and consumables for shipbuilding applications, metallic welding equipment and consumables for shipbuilding and offshore applications, emerging opportunities in the Russian and Ukrainian welding equipment and consumables, Chinese welding equipment and consumables, Chinese laser systems, and metallic welding equipment and consumables for automotive applications. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
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North American Arc Welding Equipment Market