Submerged arc welding Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Submerged arc welding is a wire-fed process generally used with stainless steels, carbon steels, and some nickel alloys. The submerged arc welding process is largely employed in heavy industrial applications in various industries such as shipbuilding, wind tower and rail car fabrication, pressure vessel, and offshore oil rig welding. The process has significant impact on the productivity and efficiency of manufacturing process in various end-user industries. The submerged arc welding process requires a continuously fed consumable solid or tubular (metal cored) electrode. The molten weld and the arc zone are protected from atmospheric contamination by being "submerged" under a blanket of granular fusible flux consisting of lime, silica, manganese oxide, calcium fluoride, and other compounds. When molten, the flux becomes conductive, and provides a current path between the electrode and the work. This thick layer of flux completely covers the molten metal thus preventing spatter and sparks as well as suppressing the intense ultraviolet radiation and fumes that are a part of the submerged arc welding process.

COVID-19 scenario analysis:

• COVID-19 pandemic has shut-down the production of various products in the global submerged arc welding industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of global submerged arc welding market significantly from last few months, as is likely to continue during 2020.
• COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year. 
• The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
• Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, Opportunities, Restraints and Impact Analysis

Rise in adoption of submerged arc welding in the construction and automotive industries is expected to fuel the demand for submerged arc welding in the next few years. Rise in adoption of lean manufacturing practices to save time, labor, and human effort is a major factor anticipated to boost the growth of the global submerged arc welding market in the near future. Increase in shift from traditional engineering operations to advanced automated techniques boosts market growth. One restraining factor for the global submerged arc welding market is the growing popularity of laser welding technology. Laser welding is used in components that need to be manufactured using welding with minimal thermal distortion and at a fast rate. The opportunity for growth of the global submerged arc welding process comes from the increasing popularity and demand of electronic vehicles in the automotive industry.

The global submerged arc welding market trends are as follows:

Surge in large scale construction projects 

With the rising construction activities across the globe, the use of structural steel has considerably increased in the recent years. Public infrastructure expansion and maintenance continue to grow. Private real estate development and individual residential construction are also going to continue growing as population and urbanization increases around the world. Schools, hospitals and other public interest facilities need to be built, expanded or updated. These myriad projects of varying scale and size will continue to aid the global submerged arc welding market as welding operations go hand in hand with such infrastructure growth. The implementation of this device in the system would optimize performance as it will increase the efficiency of the workers and increase precision and finishing quality. The overall bill of materials cost and total cost of solutions will also be lowered as these easy to use precision tools will help in less wastage of materials and time. This proves crucial in construction applications because, in these applications, precise and high-quality engineering is of paramount importance to the overall finish, look and usability of the end product.

Growth in global automotive industry to help the market grow

With the growth in the automotive industry worldwide, the demand for submerged arc welding machines is expected to go up as arc welding is a key operation in manufacturing vehicles. The auto sector in the emerging nations with increasing disposable income for the middle classes are forecast to grow at a much faster pace as consumers with higher disposable incomes will stimulate demand for motor vehicles. The implementation of submerged arc welding in the global automotive sector is wide and is vital to sheet metal work, fabrication, and other related operations. Submerged arc welding will continue to grow in popularity as the auto sector continues to flourish. With the advent and growing popularity of electronic vehicles in the global market, the global submerged arc welding market is expected to grow further in the future.

Key benefits of the report:

• This study presents the analytical depiction of the global submerged arc welding industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global submerged arc welding market share.
• The current market is quantitatively analyzed to highlight the global submerged arc welding market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed global submerged arc welding market analysis based on competitive intensity and how the competition will take shape in coming years. 

 Submerged arc welding Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights