Global Welding Market for Repairs, Maintenance to Generate Over $3 Billion

Global welding market for repairs, maintenance to generate over $3 billion by 2017 Sales volumes for welding equipment and consumables declined worldwide in 2009, but since then the rebound in manufacturing has driven OEMs’ and fabricators’ new investments in welding equipment and consumables. “Analysis of Global Welding Market for Repairs and Maintenance, ” a new Frost & Sullivan sector analysis, finds that revenues from sales of welding equipment, welding consumables, and thermal spray equipment generated revenues of $2, 405.9 million in 2010, and estimates it will rise to $3, 309.5 million in 2017. Frost & Sullivan is an industrial research and consulting firm. An important conclusion of the study is that consumers’ increasing recognition of the importance of maintenance and services will lead them to expand their investments in remote diagnostics and preventive maintenance capabilities. Growth in those market areas will be driven by diverse performance capabilities, product longevity, and durability needs. "Efforts at reducing overall downtime through improved visualization and process simulation will constitute key areas in developing the welding and thermal spray market for repairs and maintenance, " stated Archana Chauhan, Frost & Sullivan program manager. "Welding repairs are directed primarily at enhancing the safety and reliability of parts, extending their service life and cutting down on operational costs. " The major consuming markets for welding equipment and consumables will remain energy and construction, with production of gas and steam turbine parts driving demand in the energy sector. Typically, such parts are also coated with plasma sprays, to combat corrosion. "Research is ongoing to update welding techniques and materials suitable for the repair of parts involved in steam generation, transport, and turbines, " Chauhan continued. "These present an opportunity for revenue growth for welding repairs in the energy and power sector, as welding constitutes a significant part of the maintenance costs in power plants. " Demand from energy companies will be especially strong in the Middle East and Asia, the study observes. China will be a particularly strong consuming market. The increasing number of renewable energy projects in Europe and China should be another factor promoting demand for welding repair equipment and powder coatings. For energy companies (oil-and-gas, conventional power generation), welding represents a significant element of their repair and maintenance programs. Regular weld repair for offshore structures and power plants will yield higher revenues for welding equipment. However, these companies continue to prefer existing technologies and processes over newer ones. And, the shortage of skilled welders will continue to reduce their order volumes, and slow the rate of new technology adoption in relation to repair and wear problems in unfavorable environments, like mining. The study finds that fixed or long-term contracts are not needed for repair and coating purposes, which generally are carried out “as-needed. ” End users cannot subcontract large-scale welding repair jobs because such services are not generally available. "In addition to a good repair product portfolio, service teams need to respond quickly to the repair requirements of machine parts or damaged components and perform in-situ welding, " according to Chauhan. "A local presence, developing application-specific expertise and delivering complete solutions, which include selection of materials, products and services such as coating and weld repairs, will also be essential to success. " Source: weldingdesign.com