Market Trends of Europe Welding Equipment Industry
This section covers the major market trends shaping the Europe Welding Equipment Market according to our research experts:
Insights on Steel Consumption Trends in Europe
The European steel industry is getting back onto a more stable footing, with employment and production levels stable or rising. According to industry sources,the majority of the steel consumption in Europe happens through the welding process, which represents an increasing trend for welding activity in the region. Additionally, this is a good opportunity for equipment manufacturers to tap into the growing market.
Furthermore, higher steel consumption is anticipated to provide more job opportunities for welders in the region. Europe is focusing heavily on implementing training modules to provide skilled workers for the welding industry.
Weld 4.0 will have a profound impact on the skills and competencies required of welding professionals, as well as learning methodologies, bringing them into the Digital Age. As most companies in Europe continue powering ahead to get into the Digital Age of Industry 4.0, they need to ensure that their professionals' qualifications are updated with digital welding skills and competencies to keep up with these changes.
Spotlight on the Russian Welding Industry
The conflict between Russia and Ukraine is significantly affecting the supply chain, slowing down the movement of commodities, leading to sharp price hikes and product shortages, and causing severe food shortages across the two countries. However, growth in the Russian oil and gas industry has allowed the welded pipes market to expand in the country. This growth, coupled with the government's plans to develop new plants in the future, has created a positive wave in the welding equipment market in Russia.
In Russia, the oil and gas industry is the major contributor to the economy, and it accounts for 16% of the GDP, 52% of government budget revenues, and 70% of total exports. The Russian oil and gas industry witnessed heavy investments from major companies, like Gazprom, Tatneft, Lukoil, and Rosneft. In recent years, the value of RUB declined in the global market, resulting in low costs for entry and equipment. Russia imports several types of welding equipment from other European countries, China, and the United States, as its domestic production is low.
In Russia, the import share of welding equipment is increasing significantly. In Russia, almost all the machinery and raw materials required for the production of welding equipment have to be imported. Thus, it is essential for companies to invest in R&D of the market studied, along with implementation of state-initiated programs for the enhancing the production capacities of welding equipment.
In 2021, Fully or partly automatic machines for arc welding of metals, including plasma arc welding worth USD 125,024 were imported. Machines for arc welding of metals, including plasma arc welding, neither fully nor partly automatic worth USD 94,600 were imported.
