Welding Wire Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Welding Wire Market Trends and Forecast

The future of the welding wire market looks promising with opportunities in the automotive, construction, aerospace, defense, and shipbuilding end use industries. The global welding wire market is expected to reach an estimated $9.2 billion by 2028 with a CAGR of 4.8% from 2023 to 2028. The major drivers for this market are rapid industrialization, growing demand in the automotive industry for lightweight and high-performance vehicles, and introduction of hybrid MIG welding technology.

Welding Wire Market

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Welding Wire Market by Segments

The study includes trends and forecast for the global welding wire market by product type, material, application, end use industry, and region, as follows:

Welding Wire Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:

• Composite Metal-Cored Wires
• Gas-Shielded Flux-Cored Arc Welding Wires
• Solid Gas Metal Arc Welding Wires

Welding Wire Market by Material [Value ($B) Shipment Analysis from 2017 to 2028]:

• Alloys
• Stainless Steel
• Aluminum
• Others

Welding Wire Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

• Fabrication
• Maintenance
• Retrofit

Welding Wire Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:

• Automotive
• Construction
• Aerospace
• Defense
• Shipbuilding
• Others

Welding Wire Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Welding Wire Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, welding wire companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the welding wire companies profiled in this report include.

• Lincoln Electric
• Kobe Steel
• ESAB
• Ador Welding
• Kiswel

Welding Wire Market Insights

Lucintel forecasts that stainless steel is expected to witness the highest growth over the forecast period due to its increasing demand in the construction and automotive industries.

Construction is expected to witness the highest growth over the forecast period due to the growing demand for welding wires for product innovations and advancements in technology in the building and construction industries.

APAC is expected to witness the highest growth over the forecast period due to continuous expansion of the construction and automotive industries and encouraging foreign direct investment for developing end-use industries in the region.

Features of the Welding Wire Market

• Market Size Estimates: Welding wire market size estimation in terms of value ($B)

• Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.

• Segmentation Analysis: Welding wire market size by various segments, such as by product type, material, application, end use industry, and region

• Regional Analysis: Welding wire market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.

• Growth Opportunities: Analysis on growth opportunities in different product types, materials, applications, end use industries, and regions for the welding wire market.

• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the welding wire market.

• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

• Q1. What is the welding wire market size?
• Answer: The global welding wire market is expected to reach an estimated $9.2 billion by 2028.
• Q2. What is the growth forecast for welding wire market?
• Answer: The global welding wire market is expected to grow with a CAGR of 4.8% from 2023 to 2028.
• Q3. What are the major drivers influencing the growth of the welding wire market?
• Answer: The major drivers for this market are rapid industrialization, growing demand in the automotive industry for lightweight and high-performance vehicles, and introduction of hybrid MIG welding technology.
• Q4. What are the major segments for welding wire market?
• Answer: The future of the welding wire market looks promising with opportunities in the automotive, construction, aerospace, defense, and shipbuilding industries.
• Q5. Who are the key welding wire companies?
• Answer: Some of the key welding wire companies are as follows:
• Lincoln Electric
• Kobe Steel
• ESAB
• Ador Welding
• Kiswel
• Q6. Which welding wire segment will be the largest in future?
• Answer: Lucintel forecasts that stainless steel is expected to witness the highest growth over the forecast period due to its increasing demand in the construction and automotive industries.
• Q7. In welding wire market, which region is expected to be the largest in next 5 years?
• Answer: APAC is expected to witness the highest growth over the forecast period due to the continuous expansion of the construction and automotive industries and encouraging foreign direct investment for developing end use industries in the region.
• Q8. Do we receive customization in this report?
• Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the global welding wire market by product type (composite metal-cored wires, gas-shielded flux-cored arc welding wire, and solid gas metal arc welding wire), material (alloys, stainless steel, aluminum, and others), application (fabrication, maintenance, and retrofit), end use industry (automotive, construction, aerospace, defense, shipbuilding, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?