Product Code: GVR-4-68040-447-2
Hardfacing Welding Market Size & Trends:
The global hardfacing welding market size was estimated at USD 1.73 billion in 2023 and is forecasted to grow at a CAGR of 5.3% from 2024 to 2030. This growth is attributed to its ability to improve the durability and lifespan of industrial components in industries including mining, oil & gas, construction, and manufacturing. Hardfacing protects surfaces exposed to high wear, abrasion, and corrosion, which reduces requirement for frequent replacements and downtime. With industries pushing for higher efficiency, cost savings, and extended equipment lifecycles, the adoption of hardfacing techniques is further expected to increase.
Advancements in technology have led to the integration of seamless fabrication, design, and inspection of welding technology with information technology is likely to continue. In addition, market players such as Kennametal, Inc. develop new process technology in-house and focus on delivering innovative solutions to customers. They also provide solutions to address customers' productivity requirements and manufacturing challenges.
The hardfacing welding market is extremely competitive in nature and characterized by the presence of several regional and international players. Prominent players use various strategies including business expansion, new product launches, and acquisitions to enhance their market position. These players provide various hardfacing products like electrodes, wires, powder, equipment, machines, and other welding consumables. The products are used to reduce the wear & tear of equipment in various industries such as agriculture, power generation, iron & steel, mining, and crushing.
Global Hardfacing Welding Market Report Segmentation
This report forecasts revenue growth at regional & country levels and provides an analysis of the industry trends in each of the segments from 2018 to 2030. For this study, Grand View Research has segmented the hardfacing welding market based on type, end use, and region:
- Type Outlook (Revenue, USD Million, 2018 - 2030)
- Submerged Arc Welding (SAW)
- Flux Cored Arc Welding (FCAW)
- Shielded Metal Arc Welding (SMAW)
- Gas Metal Arc Welding (GMAW)
- Gas Tungsten Arc Welding (GTAW)
- Plasma Transferred Arc Welding (PTAW)
- Oxy-Fuel Welding (OFW)
- Electro Slag Welding (ESW)
- Others
- End Use Outlook (Revenue, USD Million, 2018 - 2030)
- Metalworking
- Shipbuilding
- Mining Industry
- Oil & Gas
- Others
- Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- South Korea
- Central & South America
- Middle East & Africa
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Scope & Assumption
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook, 2023 (USD Million)
- 2.2. Segmental Outlook
- 2.3. Competitive Insights
Chapter 3. Hardfacing Welding Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.2. Value Chain Analysis
- 3.2.1. Sales Channel Analysis
- 3.3. Regulatory Framework
- 3.4. Technology Overview
- 3.5. Hardfacing Welding Market - Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Market Opportunity Analysis
- 3.5.4. Market Challenge Analysis
- 3.6. Business Environment Analysis
- 3.6.1. PESTLE Analysis
- 3.6.2. Porter's Five Forces Analysis
- 3.7. Market Disruption Analysis
Chapter 4. Hardfacing Welding Market: Type Estimates & Trend Analysis
- 4.1. Key Takeaways
- 4.2. Type Movement Analysis & Market Share, 2023 & 2030
- 4.3. Hardfacing Welding Market By Type, 2018 - 2030 (USD Million)
- 4.4. Submerged Arc Welding (SAW)
- 4.4.1. Submerged Arc Welding (SAW) Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 4.5. Flux Cored Arc Welding (FCAW)
- 4.5.1. Flux Cored Arc Welding (FCAW) Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 4.6. Shielded Metal Arc Welding (SMAW)
- 4.6.1. Shielded Metal Arc Welding (SMAW) Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 4.7. Gas Metal Arc Welding (GMAW)
- 4.7.1. Gas Metal Arc Welding (GMAW) Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 4.8. Gas Tungsten Arc Welding (GTAW)
- 4.8.1. Gas Tungsten Arc Welding (GTAW) Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 4.9. Plasma Transferred Arc Welding (PTAW)
- 4.9.1. Plasma Transferred Arc Welding (PTAW) Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 4.10. Oxy-Fuel Welding (OFW)
- 4.10.1. Oxy-Fuel Welding (OFW) Welding (PTAW) Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 4.11. Electro Slag Welding (ESW)
- 4.11.1. Electro Slag Welding (ESW) Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 4.12. Others
- 4.12.1. Hardfacing Welding Market Estimates & Forecasts, by Other Types, 2018 & 2030 (USD Million)
Chapter 5. Hardfacing Welding Market: End Use Estimates & Trend Analysis
- 5.1. Key Takeaways
- 5.2. End Use Movement Analysis & Market Share, 2023 & 2030
- 5.3. Hardfacing Welding Market By End Use, 2018 - 2030 (USD Million)
- 5.4. Metalworking
- 5.4.1. Hardfacing Welding Market Estimates & Forecasts for Metalworking, 2018 & 2030 (USD Million)
- 5.5. Shipbuilding
- 5.5.1. Hardfacing Welding Market Estimates & Forecasts for Shipbuilding, 2018 & 2030 (USD Million)
- 5.6. Mining Industry
- 5.6.1. Hardfacing Welding Market Estimates & Forecasts for Mining Industry, 2018 & 2030 (USD Million)
- 5.7. Oil & Gas
- 5.7.1. Hardfacing Welding Market Estimates & Forecasts for Oil & Gas, 2018 & 2030 (USD Million)
- 5.8. Others
- 5.8.1. Hardfacing Welding Market Estimates & Forecasts for Other Applications, 2018 & 2030 (USD Million)
Chapter 6. Hardfacing Welding Market: Regional Estimates & Trend Analysis
- 6.1. Key Takeaways
- 6.2. Regional Market Share Analysis, 2023 & 2030
- 6.3. Market Estimates & Forecasts by Region, 2018 - 2030 (USD Million)
- 6.4. North America
- 6.4.1. North America Hardfacing Welding Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.4.2. North America Hardfacing Welding Market Estimates & Forecasts, by Type, 2018 & 2030 (USD Million)
- 6.4.3. North America Hardfacing Welding Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.4.4. U.S.
- 6.4.4.1. U.S. Hardfacing Welding Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.4.4.2. U.S. Hardfacing Welding Market Estimates & Forecasts, by Type, 2018 & 2030 (USD Million)
- 6.4.4.3. U.S. Hardfacing Welding Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.4.5. Canada
- 6.4.5.1. Canada Hardfacing Welding Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.4.5.2. Canada Hardfacing Welding Market Estimates & Forecasts, by Type, 2018 & 2030 (USD Million)
- 6.4.5.3. Canada Hardfacing Welding Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.4.6. Mexico
- 6.4.6.1. Mexico Hardfacing Welding Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.4.6.2. Mexico Hardfacing Welding Market Estimates & Forecasts, by Type, 2018 & 2030 (USD Million)
- 6.4.6.3. Mexico Hardfacing Welding Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.5. Europe
- 6.5.1. Europe Hardfacing Welding Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.5.2. Europe Hardfacing Welding Market Estimates & Forecasts, by Type, 2018 & 2030 (USD Million)
- 6.5.3. Europe Hardfacing Welding Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.5.4. Germany
- 6.5.4.1. Germany Hardfacing Welding Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.5.4.2. Germany Hardfacing Welding Market Estimates & Forecasts, by Type, 2018 & 2030 (USD Million)
- 6.5.4.3. Germany Hardfacing Welding Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.5.5. UK
- 6.5.5.1. UK Hardfacing Welding Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.5.5.2. UK Hardfacing Welding Market Estimates & Forecasts, by Type, 2018 & 2030 (USD Million)
- 6.5.5.3. UK Hardfacing Welding Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.5.6. France
- 6.5.6.1. France Hardfacing Welding Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.5.6.2. France Hardfacing Welding Market Estimates & Forecasts, by Type, 2018 & 2030 (USD Million)
- 6.5.6.3. France Hardfacing Welding Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.5.7. Spain
- 6.5.7.1. Spain Hardfacing Welding Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.5.7.2. Spain Hardfacing Welding Market Estimates & Forecasts, by Type, 2018 & 2030 (USD Million)
- 6.5.7.3. Spain Hardfacing Welding Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.5.8. Italy
- 6.5.8.1. Italy Hardfacing Welding Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.5.8.2. Italy Hardfacing Welding Market Estimates & Forecasts, by Type, 2018 & 2030 (USD Million)
- 6.5.8.3. Italy Hardfacing Welding Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.6. Asia Pacific
- 6.6.1. Asia Pacific Hardfacing Welding Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.6.2. Asia Pacific Hardfacing Welding Market Estimates & Forecasts, by Type, 2018 & 2030 (USD Million)
- 6.6.3. Asia Pacific Hardfacing Welding Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.6.4. China
- 6.6.4.1. China Hardfacing Welding Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.6.4.2. China Hardfacing Welding Market Estimates & Forecasts, by Type, 2018 & 2030 (USD Million)
- 6.6.4.3. China Hardfacing Welding Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.6.5. India
- 6.6.5.1. India Hardfacing Welding Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.6.5.2. India Hardfacing Welding Market Estimates & Forecasts, by Type, 2018 & 2030 (USD Million)
- 6.6.5.3. India Hardfacing Welding Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.6.6. Japan
- 6.6.6.1. Japan Hardfacing Welding Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.6.6.2. Japan Hardfacing Welding Market Estimates & Forecasts, by Type, 2018 & 2030 (USD Million)
- 6.6.6.3. Japan Hardfacing Welding Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.6.7. South Korea
- 6.6.7.1. South Korea Hardfacing Welding Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.6.7.2. South Korea Hardfacing Welding Market Estimates & Forecasts, by Type, 2018 & 2030 (USD Million)
- 6.6.7.3. South Korea Hardfacing Welding Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.7. Central & South America
- 6.7.1. Central & South America Hardfacing Welding Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.7.2. Central & South America Hardfacing Welding Market Estimates & Forecasts, by Type, 2018 & 2030 (USD Million)
- 6.7.3. Central & South America Hardfacing Welding Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.7.4. Brazil
- 6.7.4.1. Brazil Hardfacing Welding Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.7.4.2. Brazil Hardfacing Welding Market Estimates & Forecasts, by Type, 2018 & 2030 (USD Million)
- 6.7.4.3. Brazil Hardfacing Welding Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.7.5. Argentina
- 6.7.5.1. Argentina Hardfacing Welding Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.7.5.2. Argentina Hardfacing Welding Market Estimates & Forecasts, by Type, 2018 & 2030 (USD Million)
- 6.7.5.3. Argentina Hardfacing Welding Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
- 6.8. Middle East & Africa
- 6.8.1. Middle East & Africa Hardfacing Welding Market Estimates & Forecasts, 2018 & 2030 (USD Million)
- 6.8.2. Middle East & Africa Hardfacing Welding Market Estimates & Forecasts, by Type, 2018 & 2030 (USD Million)
- 6.8.3. Middle East & Africa Hardfacing Welding Market Estimates & Forecasts, by End Use, 2018 & 2030 (USD Million)
Chapter 7. Supplier Intelligence
- 7.1. Kraljic Matrix
- 7.2. Engagement Model
- 7.3. Negotiation Strategies
- 7.4. Sourcing Best Practices
- 7.5. Vendor Selection Criteria
- 7.6. List of Raw Type Suppliers
Chapter 8. Competitive Analysis
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Company Categorization
- 8.3. Company Market Positioning
- 8.4. Company Heat Map Analysis
- 8.5. Company Listings
- 8.5.1. HUTCHINSON
- 8.5.1.1. Company Overview
- 8.5.1.2. Financial Performance
- 8.5.1.3. Product Benchmarking
- 8.5.1.4. Strategic Initiatives
- 8.5.2. ElringKlinger AG
- 8.5.2.1. Company Overview
- 8.5.2.2. Financial Performance
- 8.5.2.3. Product Benchmarking
- 8.5.2.4. Strategic Initiatives
- 8.5.3. Continental AG
- 8.5.3.1. Company Overview
- 8.5.3.2. Financial Performance
- 8.5.3.3. Product Benchmarking
- 8.5.3.4. Strategic Initiatives
- 8.5.4. REHAU
- 8.5.4.1. Company Overview
- 8.5.4.2. Financial Performance
- 8.5.4.3. Product Benchmarking
- 8.5.4.4. Strategic Initiatives
- 8.5.5. Sika AG
- 8.5.5.1. Company Overview
- 8.5.5.2. Financial Performance
- 8.5.5.3. Product Benchmarking
- 8.5.5.4. Strategic Initiatives
- 8.5.6. Trelleborg Group
- 8.5.6.1. Company Overview
- 8.5.6.2. Financial Performance
- 8.5.6.3. Product Benchmarking
- 8.5.6.4. Strategic Initiatives
- 8.5.7. Sumitomo Riko Company Limited
- 8.5.7.1. Company Overview
- 8.5.7.2. Financial Performance
- 8.5.7.3. Product Benchmarking
- 8.5.7.4. Strategic Initiatives
- 8.5.8. JK Fenner
- 8.5.8.1. Company Overview
- 8.5.8.2. Financial Performance
- 8.5.8.3. Product Benchmarking
- 8.5.8.4. Strategic Initiatives
- 8.5.9. Cooper Standard
- 8.5.9.1. Company Overview
- 8.5.9.2. Financial Performance
- 8.5.9.3. Product Benchmarking
- 8.5.9.4. Strategic Initiatives
- 8.5.10. Magna International Inc.
- 8.5.10.1. Company Overview
- 8.5.10.2. Financial Performance
- 8.5.10.3. Product Benchmarking
- 8.5.10.4. Strategic Initiatives