Solid Wires Market: Forecasts and Market Analysis by RationalStat | CAGR 4.8%
According to the latest market study by RationalStat the Global Solid Wires Market size was estimated at US$ 2.3 billion in 2022, and is expected to be worth US$ 3.1 billion by 2028 at a CAGR of 4.8% over the forecast period of 2023-2028.
Wilmington, Delaware, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Solid wires for welding applications are widely used in the construction and infrastructure industries. As governments invest in infrastructure development such as bridges, buildings, and transportation networks, welding materials such as solid wires are in high demand.
*Market Definition, Market Scope, and Report Overview*
"Solid wire" is a form of wire that is made up of a single, continuous strand of metal with a consistent diameter along its length. These wires are commonly utilized in a variety of applications throughout industries, and they are available in a variety of materials, sizes, and combinations to fit individual needs.
· According to a deep-dive market assessment by *RationalStat*, the *Global Solid Wires Market* has been analyzed *on the basis of market segments, including on material type, end user and geography/regions (incl. North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific)*. The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2028.
· Market intelligence for the global solid wires market covers market sizes on the basis of market value (US$/EUR Million) and volume (Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
· In addition, the long-term sector and products/services 10-year outlook and its implications on the global solid wires market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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*Global* *Solid Wires Market: Segmental and Market Share Analysis*
· On the basis of material type, carbon steel segment is expected to dominate the global solid wires market due to their wide range of applications in industries like construction, manufacturing, and infrastructure development.
· On the basis of end user, construction and infrastructure segment is dominating the market. As it is widely used in construction of buildings, bridges, roads, and other infrastructure projects.
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*Report Synopsis*
Report Metrics Details
Base Year 2022
Forecast Period 2023-2028
Base Year Market Size US$ 2.3 billion
Market Size Forecast US$ 3.1 billion
Growth Rate 4.8%
Key Market Drivers · Increasing Rapid Industrialization
· Growing Demand for Welding Materials
Companies Profiled · Colfax (ESAB)
· Hyundai Welding
· Illinois Tool Works (ITW)
· The Lincoln Electric Company
· Ador Fontech Limited
· Ador Welding
· Air Liquide
· Berkenhoff
· BOC (The Linde Group)
· Haynes International
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*Competition Analysis and Market Structure *
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global solid wires market include,
· In May 2022, LS Cable and System invested US$ 26.9 million to develop its Tarboro facility in North Carolina, USA, to produce low and medium-voltage cables.
· In April 2022, Amedeon provided IMOCA with Nexans aviation quality cables in Fabrice, supplying 2,655 metres of flight cables to meet IMOCA requirements.
Some of the prominent players and suppliers operating and contributing significantly to the global solid wires market growth include *Colfax (ESAB), Hyundai Welding, Illinois Tool Works (ITW), The Lincoln Electric Company, Ador Fontech Limited, Ador Welding, Air Liquide, Berkenhoff, BOC (The Linde Group), and Haynes International, **among others.*
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*RationalStat has segmented the global **solid wires* *market based on material type, end user and region*
· *Global **Solid Wires* *Market ***Value (US$ Million), Volume (Tons), and Market Share (2019-2028) Analysis by Material Type**
· Carbon Steel
· Stainless Steel
· Aluminum
· *Global **Solid Wires* *Market ***Value (US$ Million), Volume (Tons), and Market Share (2019-2028) Analysis by End User**
· Construction and Infrastructure
· Automotive
· Aerospace
· Manufacturing and Fabrication
· Oil and Gas
· Shipbuilding
· Electronics and Electrical
· *Global **Solid Wires* *Market ***Value (US$ Million), Volume (Tons), and Market Share (2019-2028) Analysis by Region**
· North America Solid Wires Market
· US
· Canada
· Latin America Solid Wires Market
· Brazil
· Mexico
· Rest of Latin America
· Western Europe Solid Wires Market
· Germany
· UK
· France
· Spain
· Italy
· Benelux
· Nordic
· Rest of Western Europe
· Eastern Europe Solid Wires Market
· Russia
· Poland
· Hungary
· Other CIS Countries
· Rest of Eastern Europe
· Asia Pacific Solid Wires Market
· China
· Japan
· India
· South Korea
· Australia
· ASEAN
· Indonesia
· Thailand
· Philippines
· Vietnam
· Malaysia
· Rest of ASEAN
· Rest of Asia Pacific
· Middle East & Africa Solid Wires Market
· GCC
· Saudi Arabia (KSA)
· United Arab Emirates (UAE)
· Rest of the GCC
· South Africa
· Nigeria
· Turkey
· Rest of the Middle East & Africa
*For more information about this report https://store.rationalstat.com/store/global-solid-wires-market/*
*Key Questions Answered in the Solid Wires Report:*
· What will be the market value of the global solid wires market by 2028?
· What is the market size of the global solid wires market?
· What are the market drivers of the global solid wires market?
· What are the key trends in the global solid wires market?
· Which is the leading region in the global solid wires market?
· What are the major companies operating in the global solid wires market?
· What are the market shares by key segments in the global solid wires market?
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*Research Methodology*
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
· Defining the problem by understanding the type of market and data required by the client.
· Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
· Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
· Evaluating and analyzing the data by referring to data sources utilized and leveraged.
· Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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*About RationalStat LLC *
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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