The US Welding Consumables Market was estimated to be worth USD 12.62 billion in 2022. It is projected to grow at a compound annual growth rate (CAGR) of 4.4% during the forecast period of 2023-2030, reaching a value of USD 17.80 billion by 2030.
The market for welding consumables in the United States is experiencing steady growth. With an estimated worth of USD 12.62 billion in 2022, it is expected to witness a significant increase in value over the next decade. By 2030, the market is projected to reach a staggering USD 17.80 billion, reflecting a compound annual growth rate (CAGR) of 4.4% during the forecast period of 2023-2030.
This growth can be attributed to various factors, including the rising demand for welding consumables across industries such as automotive, construction, and manufacturing. Welding consumables play a crucial role in these sectors, as they are essential for joining metals and creating strong, durable structures.
Furthermore, technological advancements in welding processes and equipment are driving the market's expansion. The development of innovative welding consumables, such as flux-cored wires and solid wires, has enhanced the efficiency and quality of welding operations. These advancements have not only increased productivity but also reduced costs, making welding consumables more accessible to a wider range of industries.
Moreover, the growing emphasis on infrastructure development and renovation projects in the United States is expected to fuel the demand for welding consumables. As the country invests in upgrading its transportation networks, bridges, and buildings, the need for welding consumables will continue to rise.
In conclusion, the US Welding Consumables Market is poised for substantial growth in the coming years. With a projected value of USD 17.80 billion by 2030, driven by factors such as increasing demand across industries, technological advancements, and infrastructure development.
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KEY MARKET SEGMENTATION
By Product
- Stick Electrodes
- Solid Wires
By Flux-cored Wires
- SAW Wires & Fluxes
- Others
By Application
- Automobile & Transportation
- Building & Construction
- Marine
- Power
- Oil & Gas
- Wear Plates
- Others
DRIVERS
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The construction of pipelines, storage tanks, and power plants increases the need for welding consumables, which is a result of growth in the energy industry, including oil and gas exploration, power generation, and renewable energy projects.
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Opportunities for providers of welding consumables arise from the automobile industry's requirement for lightweight materials and cutting-edge welding methods to achieve fuel economy and safety criteria.
OPPORTUNITY
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Green Welding can capitalize on the rising demand for sustainable practices by creating and selling ecologically friendly welding consumables.
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Offering specialized solutions to address the distinct welding requirements of diverse sectors might be a valuable business opportunity.
Key Players
The major key players are Lincoln Electric, KOBE STEEL, LTD, ESAB, CS HOLDINGS CO., LTD, Hyundai Welding Co., Ltd, Panasonic Corporation, Fronius International GmbH, RME MIDDLE EAST, voestalpine BOHLER Edelstahl GmbH, Copilot, Tianjin Golden Bridge Welding Materials Group International Trading Co., Ltd and others.
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Table of Contents
- Introduction
- Research Methodology
- Market Dynamics
- Impact Analysis
- Value Chain Analysis
- Porter’s 5 forces model
- PEST Analysis
- Welding Consumables Market, By Product
- Welding Consumables Market, By Flux-cored Wires
- Welding Consumables Market, By Application
- Regional Analysis
- Company Profile
- Competitive Landscape
- USE Cases and Best Practices
- Conclusion
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