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OEM Update

Indian Welding Market Expecting Higher Growth

May 12, 2010 8:08 am

Indian Welding Market Expecting Higher Growth
 
To be competitive, welding manufacturers need to provide standardised goods with a focus on product differentiation
 
The welding market in India is expecting higher growth keeping pace with rapid expansion of the shipbuilding, construction and energy sectors. According to the new analysis ‘Strategic Analysis of the Indian Welding Equipment Market’ presented by Frost & Sullivan, the welding industry in India has generally been low technology with infrequent innovation. However, the adoption of automatic and the semi-automatic welding systems has been rising in recent years. At the same time, the recession and reduced budgets have underlined the continued popularity of economical, manual techniques.
 
The analysis finds that the market earned revenues of $208.0 million in 2008 and estimates this to reach $311.5 million in 2015.
 
“While the financial meltdown has adversely affected most end user industries for welding equipment in India, energy, construction and shipbuilding sectors have, to a large extent, been recession-proof and have been generating moderate demand,” notes Frost & Sullivan Senior Research Analyst Archana Chauhan. “A key driver boosting market revenues has also been the gradual move from manual to automatic and semi-automatic welding equipment.”
 
The analysis revealed that enhanced foreign direct investment (FDI) equity inflow in India has supported projects in the oil and gas sector, offshore activities, aerospace and heavy machinery industries. Several foreign automobile companies have established their manufacturing base in India. Such trends have had a positive impact on the uptake of welding equipment and consumables.
 

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