Welding Consumables Market in India to be driven by Steel and Construction Industries

Welding, being the most economical and effective method of connecting metals, plays a crucial role in improving the overall life of manufactured products. As the only metal-joining method that can be used underwater as well as in space and finding applications across almost all manufacturing industries, the market for welding is ever-expanding.

Welding consumables play an important role in welding process and can have serious impact on overall production costs of a finished product, weld quality, and productivity. Thus, welding consumables account for a larger share in the overall welding activity as compared to welding services and welding equipment.

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Welding Consumables Market in India: An Overview

In India welding consumables market was worth INR30.8 bn in 2013. As a result of prolific growth in end-use industries such as transportation, construction, automotives, the market is projected to rise to INR45.3 bn by 2020. In the market, welding consumables such as stick electrodes, SAW wires and fluxes, solid wires, and rods are some of the most popular products. Of these, stick electrodes have a dominant position in the market owing to their low cost and heavy use in manual welding processes.

Steel and Construction Industries to Jointly Propel Market for Welding Consumables

Over the past years, though the global steel industry has observed a slowdown, steel industry of India has expanded at a nearly 10% growth rate. The high demand for steel in the country is promoting the use of a variety of welding technologies, state-of-the-art welding equipment, and a wide range of welding consumables. Analysts cite that the consumption of steel is a reliable indicator for enumerating the overall state of welding activities. With good growth prospects associated with the country’s steel industry, the market for welding, and consequently of welding consumables, is also sought to grow at a good pace over the next few years.

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The construction industry of the country is also a good indicator for enumerating the welding consumables market. With more construction projects such as  metro railways becoming a norm in many Indian cities, innumerous real estate projects being announced every other day, and construction activities in the industrial sector being expanding at a rapid pace, the construction industry in India is projected to give a huge scope of growth to the welding consumables market in future years. 

India Welding Consumables Market Features Fragmented Competitive Landscape

Though the welding consumables market in India features a large number of businesses across a variety of product segments, it is moderately fragmented with the top six players accounting for a collective share of 30% in the market. Market leaders such as Ador Welding Ltd, ESAB, Voestalpine AG, and Lincoln Electric exhibit strong dominance in the welding consumables market of the country. The market also features a large number of organized as well as unorganized businesses. By accounting for the largest share in the market, the company ESAB dominated the market in 2013, while the companies Lincoln Electric and Bohler Welding Group India Pvt. Ltd. accounted for a major share of the remainder.

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