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Arc Welding Equipment & Filler Metals - Frost & Sullivan Forecasts Steady Global Market Growth - Bright prospects lie ahead, with the global market expected to increase from $11.70 billion of 2010 to $19.29 billion by 2017
Arc Welding Equipment & Filler Metals - Frost & Sullivan Forecasts Steady Global Market Growth

 

NewswireToday - /newswire/ - London, United Kingdom, 2011/12/12 - Bright prospects lie ahead, with the global market expected to increase from $11.70 billion of 2010 to $19.29 billion by 2017.

   
 
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After Asia Pacific, the EMEA region has been the second biggest contributor to the revival of the world arc welding equipment and filler metals market, with Eastern Europe and Middle East being the most important markets in the area.

New analysis from Frost & Sullivan (industrialautomation.frost.com), World Arc Welding Equipment and Filler Metals Market, finds that the market earned revenues of $11.70 billion in 2010 and estimates this to reach $19.29 billion in 2017.

The energy industry contributed the most to market growth in 2010, as it was the least affected by the downturn. This was due to the continuous demand for filler metals, as end-users preferred to invest in these lower-priced products during the slowdown. In addition, this industry has considerable infrastructure requirements as well as repairs and maintenance in pipelines, offshore, liquefied natural gas (LNG) tanks, wind turbine installations and the nuclear sector.

There is also substantial demand from automotive and transportation, construction and infrastructure, industrial expansion in emerging economies and the expected hike in steel consumption in machinery and equipment. Foreign direct investments (FDI) as well as a rise in emerging technologies - such as energy-saving machines and corrosion-resistant filler metals that save costs - have given a boost to the sales of arc welding equipment and filler metals in these sectors.

"While the Asia Pacific market is likely to benefit the most from the growth in these end-user industries, the EMEA will also experience significant demand from industries in Eastern Europe, Russia, Middle East and Africa," says Frost & Sullivan Research Analyst Ruth Shilpa Sudhakar. "Manufacturers are looking to shift base to these economies to reduce their operational and labour costs and increase productivity."

Mature economies such as Central and Western Europe and North America are expected to witness lower demand, as they are still shaking off the effects of the downturn. Asia is likely to witness the entry of more participants, particularly in the filler metals market.

The rising base material costs are compelling manufacturers to raise the prices of their products, although customers are seeking more advanced technology, quality and services, at lower prices. A large number of smaller participants from China are able to match this requirement for a wide product range at affordable prices, while the influx of participants from Korea has also helped ease the demand for arc welding equipment and filler metals.

This profusion of companies is fragmenting the market and forcing manufacturers to invest in R&D to develop products that customers require and expand their product portfolio in a bid to retain their market shares. Manufacturers will be under pressure to offer the latest technologies, experimenting with novel base materials to slash the total cost of production and maintenance.

"Manufacturers are increasingly using high-performance alloys in filler metals market to avoid spatter and corrosion, which are useful advantages in the offshore segment," notes Ruth. "A rising number of arc welding equipment is now portable, light weight, easy-to-use and energy-efficient or battery operated, and this lessens the pricing pressure on customers."

Most manufacturers have introduced training programs for distributors and customers to enable the most efficient use of the products. They are also looking to strengthen their ties with distribution networks in emerging economies. In Russia, on the other hand, there is a marked acquisition trend.

Arc welding equipment and filler metals companies are backing up their business expansion strategies with excellent customer support. Value-added services, on-time delivery and immediate query clarifications from trained personnel will go a long way in establishing customer loyalty and stand out in this fiercely competitive market.

If you are interested in more information on this study, please send an email to Anna Zanchi, Corporate Communications, at anna.zanchi[.]frost.com.

World Arc Welding Equipment and Filler Metals Market is part of the Industrial Automation & Process Control Growth Partnership Services program, which also includes research in the following markets: Economic Outlook of the Global Welding Industry, Strategic Analysis of the Global Welding Market in Energy Generation, Global Welding Market for Automotive Applications and Strategic Analysis of the Global Equipment and Consumables Market for Pipeline Industry. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.

 
 
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Arc Welding Equipment & Filler Metals - Frost & Sullivan Forecasts Steady Global Market Growth

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