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Frost & Sullivan Advises Specialty Welding Consumables Manufacturers to focus on Awareness Raising Strategies - Training programmes and awareness workshops will enhance customer satisfaction and loyalty - IndustrialAutomation.Frost.com
Frost & Sullivan Advises Specialty Welding Consumables Manufacturers to focus on Awareness Raising Strategies

 

NewswireToday - /newswire/ - London, United Kingdom, 2013/03/26 - Training programmes and awareness workshops will enhance customer satisfaction and loyalty - IndustrialAutomation.Frost.com.

   
 
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Specialty welding consumables represent a potentially high growth, significant revenue generating segment of the global welding consumables market. However, the economic turmoil across Europe and North America, paralleled by the lack of awareness about these products in developing economies, has limited their growth prospects in the past.

New analysis from Frost & Sullivan (industrialautomation.frost.com), Analysis of the Global Specialty Welding Consumables Market, finds that the market earned revenues of $2,468.6 million in 2011 close to 30.0 per cent of the global welding consumables market and estimates this to reach $3,818.1 million in 2016. In 2011, the Asia Pacific region generated the most revenues in the global specialty welding consumables market followed by Europe, Middle East and Africa (EMEA).

"The significant revenue generation in EMEA was primarily due to two reasons," explained Frost & Sullivan Industrial Automation & Process Control Program Manager Archana Chauhan. "Firstly, the prices of specialty welding consumables across Western and Central Europe were among the highest globally and, secondly, there was substantial demand for these new technologies and products across the developed parts of Europe."

However, the current slow down in European industrial markets has meant that growth levels over the short-term will be relatively slow. Russia and the Middle East are expected to be the growth hotspots in the region.

Globally, the downturn has made end user very budget conscious; in some cases consumers have met their welding needs by temporarily shifting to cheaper equivalents made of mild steel as opposed to expensive nickel, copper and tungsten based specialty welding consumables. Such trends overlook the fact that specialty welding consumables actually support higher productivity and enhanced weld quality that ultimately reduces repair and maintenance costs.

A strong distribution structure that promotes on-time delivery of high quality products is vital if companies are to remain competitive. Product customisation and the ability to become a one-stop shop for welding solutions will help manufacturers sustain customer loyalty. Such strategies will have to be accompanied by solid technical and after sales support.

"Expanding the number of training programmes and awareness workshops for customers, employees and distributors will undoubtedly enhance customer satisfaction and loyalty," concluded Chauhan. "An increased global footprint, by entering into untapped high-potential markets such as in Africa, will also play a critical role in the growth of the specialty welding consumables market over the forecast period."

If you are interested in more information on this study, please send an email with your contact details to Julia Nikishkina, Corporate Communications, at julia.nikishkina[.]frost.com.

Analysis of the Global Specialty Welding Consumables Market is part of the Industrial Automation & Process Control Growth Partnership Services programme, which also includes research in the following markets: Global Welding Equipment and Consumables Market for Power Industry, Global Submerged Arc Welding Market and Global Aluminium Filler Metals Market. 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
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Analysis of the Global Specialty Welding Consumables Market / M892-10

 
 
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Frost & Sullivan Advises Specialty Welding Consumables Manufacturers to focus on Awareness Raising Strategies

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