Global Study Shows Increased Demand for Welding Equipment, Consumables
Picture Credit: Atlas Services
A study released by Frost & Sullivan in September, 2011, shows that the global demand for ARC welding equipment and related consumables increased between 2008 and 2010. The global market for Arc welding and filler eqiupment appears to have recovered and rebounded from the worldwide economic downturn of 2008, and the study predicts that the market, which currently accounts for approximately $11.7 Billion, will approach $20 Billion by 2017.
The study, which is titled World Arc Welding Equipment and Filler Materials Market 2011, examines global trends in the demand for Arc welding equipment and consumables. The study shows a global growth rate of 5.8 percent in 2010, and predicted further expansion, to as much as 7.4 percent, by 2017.
Asia Pacific, which accounts for $4.9 Billion of the current $11.7 Billion, is the region with the most growth. Less developed parts of the world are also adding increased demand, while North America and western Europe are not experiencing the same rate of growth due to the economic downturn.
The fastest-growing global market for welding demand is energies, likely due to the related facts that energy consumption remains relatively unchanged on a global scale and that significant infrastructure, along with repairs, maintenance, and expansion, is required to maintain energy consumption rates. Auto, construction, infrastructure, and industrial expansion are also showing growth across the globe.
The nature of the growing global demand is changing. Consumers are looking for broad ranges of quality products at a reduced cost. As a result, equipment is becoming lighter and more portable, while consumables are incorporating more alloys, which allow for the same quality of production at a lower cost. Value-added services, more reliable customer service, and training programs are also important factors in the shift in the nature of the business.
To read more from the report summary or to purchase your own copy of the full 98-page report, click here.
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