Market Overview
The global Gas Shielded Solid Wires market was valued at USD 5.83 billion in 2022 and expected to grow at a CAGR of 5.5% during the forecast period. Gas shielded solid wires are a type of welding wire used in gas metal arc welding (GMAW) or MIG welding. The wire is made up of a solid metal core surrounded by a protective shielding gas that is used to protect the molten weld pool from atmospheric contamination.
The shielding gas is typically a mixture of carbon dioxide and argon or helium, and is chosen based on the specific welding application. The wire is fed through a welding gun, and an electric current is used to melt the wire and create a weld.
Gas shielded solid wires are popular in welding applications because they produce a high-quality weld with minimal spatter and a smooth, even bead appearance. They are also easy to use and require minimal cleanup after welding.
There are many different types of gas shielded solid wires available, each designed for specific welding applications and materials. Some common types include low carbon steel wires, stainless steel wires, and aluminum wires.
Gas shielded solid wires are a type of welding wire used in gas metal arc welding (GMAW) or MIG welding. The wire consists of a solid metal core surrounded by a protective shielding gas, usually a mixture of carbon dioxide and argon or helium, to protect the molten weld pool from atmospheric contamination. Gas shielded solid wires are popular in welding applications due to their ability to produce high-quality welds with minimal spatter and a smooth, even bead appearance. They are easy to use and require minimal cleanup after welding. Gas shielded solid wires come in various types for different welding applications, such as low carbon steel, stainless steel, and aluminum wires. Overall, gas shielded solid wires are a versatile and reliable option for welding applications that require a high-quality weld with minimal cleanup.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 5.83 Billion |
Market Forecast in 2031 | USD 8.42 Billion |
CAGR % 2023-2031 | 5.5% |
Base Year | 2022 |
Historic Data | 2019-2021 |
Forecast Period | 2023-2031 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | By Type (diameter below 1.0mm, diameter 1.0mm-2.5mm, diameter above 2.5mm and others seals), By Application (automotive, construction, aerospace and defence, shipbuilding, pipe, Others) |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | Colfax Corporation, ITW, Kobelco, Lincoln Electric, Askaynak, Voestalpine, Sumitomo Electric Industries, Hyundai Welding, Gedik Welding, CORODUR, Golden Bridge, Tianjin Bridge, Weld Atlantic, Shandong Solid Solider, Shandong Juli Welding, Zhujiang Xiangjiang Welding, Wuhan Temo Welding, Changzhou Huatong Welding, Jinglei Welding, Jiangsu ZhongJiang Welding Wire |
Impact of COVID
The COVID-19 pandemic has had a significant impact on the global economy, including the gas shielded solid wires market. The pandemic has caused disruptions in the supply chain, production, and demand for gas shielded solid wires.
One of the major impacts of the pandemic has been the slowdown in industrial activities, including welding and construction, which are significant end-use industries for gas shielded solid wires. The shutdown of manufacturing facilities, construction sites, and other industries has reduced the demand for gas shielded solid wires, leading to a decrease in sales and revenue.
Moreover, the global supply chain has been disrupted due to travel restrictions and border closures, which has caused delays in the delivery of raw materials and finished goods. This has led to shortages of gas shielded solid wires in some regions, affecting the availability and pricing of the product.
However, as the world gradually recovers from the pandemic, the demand for gas shielded solid wires is expected to increase as industries resume their activities. Moreover, the growing demand for infrastructure development, automotive and transportation, and energy and power sectors are expected to drive the demand for gas shielded solid wires in the future.
In summary, the COVID-19 pandemic has caused a temporary decline in the gas shielded solid wires market, but the market is expected to recover and grow in the coming years as the global economy improves.
Type Insights
Diameter <1.0mm: This segment is expected to hold the largest market share due to its extensive use in various industries, including automotive, transportation, and construction. The demand for thinner and more precise welding wires has increased, which has led to the growth of this segment.
Diameter 1.0mm-2.5mm: This segment is the second-largest market share holder due to its use in welding thick metal plates and structures in the construction industry. The demand for this segment is driven by the need for higher welding speeds and greater productivity.
Diameter >2.5mm: This segment holds a smaller market share but has a significant demand in heavy industrial applications, such as shipbuilding, power generation, and oil and gas industries. These wires are used for welding thick metals and structures that require high strength and toughness.
Application Insights
Automotive: The automotive sector is the largest end-user industry for gas shielded solid wires due to the high demand for welding wires in the production of vehicles. Gas shielded solid wires are used in various automotive applications, including body and frame assembly, exhaust systems, and engine components.
Construction: The construction industry is the second-largest market for gas shielded solid wires due to the high demand for welding wires in the construction of buildings, bridges, and other structures. The use of gas shielded solid wires in construction offers higher welding speeds, greater productivity, and improved quality.
Aerospace & Defense: The aerospace and defense sector is a significant market for gas shielded solid wires, primarily due to the high demand for welding wires in the production of aircraft, spacecraft, and defense equipment. The use of gas shielded solid wires in aerospace and defense offers high strength, durability, and resistance to corrosion.
Shipbuilding: The shipbuilding industry is another significant market for gas shielded solid wires. Gas shielded solid wires are used in shipbuilding for welding thick metal plates and structures, providing high strength and durability.
Pipe: The pipe industry is also a significant market for gas shielded solid wires. Gas shielded solid wires are used in the welding of pipes used in the oil and gas industry, water treatment, and other industries.
Others: Other applications of gas shielded solid wires include manufacturing, power generation, and maintenance and repair activities.
Regional Insights
North America, Europe, and Asia Pacific are the major regions in the gas shielded solid wires market. North America and Europe are the mature markets for gas shielded solid wires, with established infrastructure and a large number of end-use industries. Asia Pacific, on the other hand, is the fastest-growing market due to the rapid industrialization and urbanization in the region.
China is the largest producer and consumer of gas shielded solid wires globally, owing to the significant growth in the manufacturing sector and the increasing demand for construction and infrastructure development. Other emerging economies in the Asia Pacific, such as India, Japan, and South Korea, are also expected to drive the demand for gas shielded solid wires in the future.
In North America, the United States is the dominant market, followed by Canada and Mexico. The growth in the region is driven by the strong demand from the automotive, transportation, and construction industries.
In Europe, Germany, the United Kingdom, and France are the major markets for gas shielded solid wires, owing to the well-established manufacturing sector and the presence of a large number of end-use industries.
In summary, the gas shielded solid wires market share by region is driven by various factors such as industrialization, infrastructure development, end-use industries, and government policies.
Competitive Analysis
Some of the major companies operating within the market are Colfax Corporation, ITW, Kobelco, Lincoln Electric, Askaynak, Voestalpine, Sumitomo Electric Industries, Hyundai Welding, Gedik Welding, CORODUR, Golden Bridge, Tianjin Bridge, Weld Atlantic, Shandong Solid Solider, Shandong Juli Welding, Zhujiang Xiangjiang Welding, Wuhan Temo Welding, Changzhou Huatong Welding, Jinglei Welding, Jiangsu ZhongJiang Welding Wire. These players are focusing on product innovation, expansion, and partnerships to strengthen their market position and meet the growing demand for Gas Shielded Solid Wires globally.
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The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
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In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
§ Company Share Analysis from 2018-2022
§ Company Analysis by Revenue and Sales
§ Company Production Capacity, Gross Margin
§ Company Share Analysis by Application/End Use
§ Company Share Analysis by Product/Specification
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