The Mexico Welding Consumables Market size is anticipated to reach USD 915.8 million by 2025, expanding at a CAGR of 7.1%, according to a new report by Grand View Research Inc. Increasing demand for advanced welding technologies in high-end manufacturing applications is likely to have a positive impact on market. Moreover, an increasing number of construction projects in the country are expected to support the market growth.
Rapid innovations in the automotive and aerospace sectors are anticipated to introduce new products with improved durability and enhanced performance, thus are likely to boost the market. These products provide an ease in the welding mechanism, thus are popular in small and large scale welding applications. In 2018, the automotive and transportation application segment accounted for largest market share. The segment is anticipated to exhibit highest CAGR over the forecast period.
High-performance welding with smooth finishes and easy handling offered by these products are utilized widely for several welding technologies such as resistance, arc, oxy-fuel, and laser beam. These technologies are likely to witness significant growth owing to advantages like deep weld penetration and minimum weld area. The laser beam technology segment is expected to witness highest CAGR over the forecast period. The technology offers concentrated heat that can be used for narrow and deep welds.
Key participants in the industry are focusing on achieving optimum business growth by offering the welding consumables to the original equipment manufacturers in the country. The market is characterized by extensive competition, wherein, the players are offering consumables along with other products and technologies.
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Further key findings from the report suggest:
- The laser beam technology segment is anticipated to exhibit the fastest CAGR of 8.1% over the forecast period on account of high weld quality, less operational time, and substituting the use of electrodes
- The automotive and transportation segment accounted for a share of 43.1% in 2018 on account of increasing related manufacturing operations in Mexico
- The revenue for stick electrodes in the country stood at USD 202.4 million in 2018. Automotive applications are anticipated to propel the demand for stick electrodes
- The building and construction application segment is likely to have a positive impact on theMexico welding consumables market owing to pipelined construction projects to be completed by 2025
- The market is expected to register notable mergers and acquisitions such as The Lincoln Electric Company acquiring Air Liquide Welding Ltd., a subsidiary of Air Liquide, at a purchase price of USD 142.53 million.
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Grand View Research has segmented the Mexico welding consumables market on the basis of technology, product, and end use:
Mexico Welding Consumables Technology Outlook (Revenue, USD Million, 2014 – 2025)
- Laser Beam
Mexico Welding Consumables Product Outlook (Revenue, USD Million, 2014 – 2025)
- Stick Electrodes
- Solid Wires
- Flux-Cored Wires
- Saw Wires and Fluxes
Mexico Welding Consumables End-use Outlook (Revenue, USD Million, 2014 – 2025)
- Automotive & Transportation
- Building & Construction
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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