EMEA Welding Consumables Market to Grow at 4.3% CAGR between 2014 and 2020, will rise to US$4.55 billion by 2020: Transparency Market Research

Albany - NY, Sept. 9, 2015 (GLOBE NEWSWIRE) -- The new market research study, titled "Welding Consumables Market - EMEA Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020", is a professional and through overview of the EMEA welding consumables market in the region.

The report, published by market research firm Transparency Market Research, states that the market will observe a positive, albeit modest, growth over the period from 2014 to 2020. From a market valuation of US$3.3 billion in 2013, the market will rise to US$4.55 billion by 2020, expanding at a 4.3% CAGR over the period. Volume-wise, the welding consumables market observed demand totaling 1,236.2 kilo tons in 2013.

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Sales of welding consumables account for the largest share of revenue generated by the overall welding industry; welding services and welding equipment form the other two key sources of revenue generation for the welding industry. The welding consumables industry has observed a substantial rise in the EMEA region in the past few years owing to the positive developments observed in end-use industries such as oil and gas and automotive. While the market is expected to witness moderate growth in Europe, it is expected to observe improved demand from emerging economies in Africa and the Middle East over the report's forecast period.

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However, the overall welding consumables market is expected to suffer from a lack of skilled labor, especially in the developed regions of Europe and the Middle East.The report segments the EMEA welding consumables market based on three broad criteria: product types, applications, and geography. Based on product type, the market is segmented into stick electrodes, flux-cored wires, solid wires, SAW wires and fluxes, and welding gases. Key applications of welding consumables studied in the report include automobile and transportation, marine, building and construction, and report and maintenance. Geography-wise, the market is segmented into Europe, Africa, and the Middle East.

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Of the various types of welding consumables studied in the report, the segment of electrodes observes high demand in the Middle East and Africa owing to the high prevalence of manual welding services in these regions, as well as the high usage and low cost of electrodes. On the other hand, products such as wires and fluxes observe more demand as compared to electrodes from developed countries in Europe.

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In 2013, Europe accounted for over 70% of the revenue in the EMEA welding consumables market. However, the market is rapidly approaching a saturation level and thus the sales of welding consumables are expected to make little progress as compared to the near past in Europe over the coming years. The highly developed automobile and other end-use industries in Europe will still lead to a substantial share of market's overall revenue over the years; the market in the Middle East will advance to gain a larger share of revenue in the coming years owing to rising investments in the oil and gas sector of the region.

The competitive landscape of welding consumables in the EMEA region features the strong presence of companies such as Voestalpine AG, ITW, Lincoln Electric, and ESAB. Of these, ESAB dominated the market with a share of nearly 15% in the overall revenue in the market in 2013. Other key entities in the market include Welding Alloys Ltd., Air Liquide, Afrox, and Valk Welding B.V.

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The report segments the welding consumables market in EMEA as:

Welding Consumables Market - Product Segment Analysis

  • Stick electrodes
  • Solid wires
  • Flux-cored wires
  • SAW wires and fluxes
  • Others (Including gases, etc.)

Welding Consumables Market - Application Analysis

  • Automobile & transportation
  • Building & construction
  • Marine
  • Others (Including repair and maintenance, etc.)

Welding Consumables Market - Regional Analysis

  • Europe
  • The Middle East
  • Africa

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Source:Transparency Market Research