Global Stick Welding Electrode Market, By Product Type (Heat-resistant Steel Electrode, Low Temperature Steel Electrode and Others), Application (Automobile Industry, Construction Industry, Aerospace and Defense Industry, Shipbuilding Industry and Pipeline Industry), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of the Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights Global Stick Welding Electrode Market
The stick welding electrode market is expected to witness market growth at a rate of 4.4% in the forecast period of 2022 to 2029 and is expected to reach USD 1,178.67 million by 2029. Data Bridge Market Research report on stick welding electrode market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the number of construction activities is escalating the growth of stick welding electrode market.
Stick electrodes or SMAW are known to be consumable, meaning they become a part of the weld and are also known to as a filler electrode or welding rod. TIG tungsten electrodes are also known to be non-consumable as they do not melt and become part of the weld, demanding the utilization of a welding rod. TIG filler rods are an optional filler material utilized to fuse two pieces of stock together as a composite. The MIG welding electrode is a constantly fed wire referred to as MIG wire.
Major factors that are expected to boost the growth of the stick welding electrode market in the forecast period are rise in the number of transportation projects, including the construction of new airports, seaports, and railway networks. Furthermore, the advancement of new residential and commercial projects is further anticipated to propel the growth of the stick welding electrode market. Moreover, the increased demand for smart factories is further estimated to cushion the growth of the stick welding electrode market. On the other hand, the due to the COVID-19 pandemic which is causing massive economic losses is further projected to impede the growth of the stick welding electrode market in the timeline period.
In addition, the rise in the of the electrodes due to the retrofitting of offshore natural gas and oil exploration equipment and tools, including pipes, boilers, and vessels will further provide potential opportunities for the growth of the stick welding electrode market in the coming years. However, the growing number of industries, such as building and construction, automobile, and others might further challenge the growth of the stick welding electrode market in the near future.
This stick welding electrode market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on the stick welding electrode market, contact Data Bridge Market Research for an Analyst Brief, Our team will help you take an informed market decision to achieve market growth.
Global Stick Welding Electrode Market Scope and Market Size
The stick welding electrode market is segmented on the basis of product type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of product type, the stick welding electrode market is segmented into heat-resistant steel electrode, low temperature steel electrode and others.
- On the basis of application, the stick welding electrode market is segmented into automobile industry, construction industry, aerospace and defense industry, shipbuilding industry and pipeline industry.
Stick Welding Electrode Market Country Level Analysis
The stick welding electrode market is analysed, and market size, volume information is provided by country, product type and application as referenced above.
The countries covered in the stick welding electrode market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the stick welding electrode market due to the rise in the construction activities. Furthermore, the growing demand from the residential and commercial sector will further boost the growth of the stick welding electrode market in the region during the forecast period. North America is projected to observe significant amount of the growth stick welding electrode market due to the occurrence of major manufacturers. Moreover, the increased adoption of several technologies including lasers, plasma arcs, and resistance spot welding (RSW) are deployed across several industries such as automotive, manufacturing, construction, oil and gas, and others is further anticipated to propel the growth of the stick welding electrode market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as consumption volumes, production sites, and volumes, import-export analysis, price trend analysis, cost of raw materials, downstream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Stick Welding Electrode Market Share Analysis
The stick welding electrode market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the stick welding electrode market.
Some of the major players operating in the stick welding electrode market are Voestalpine., Ador, Honavar Electrodes, D&H Sécheron, Daido Steel Co., Ltd., Lincoln Electric Company, Miller Electric Mfg. LLC, KOBE STEEL, LTD, ZULFI WELDING ELECTRODES FACTORY CO. LTD, ESAB., CS Corporation, RME MIDDLE EAST FZCO, Capilla GmbH, and Tianjin Golden Bridge Welding Materials Internationl Trading Co.,Ltd., among others.
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