Published By : 22 Mar 2016 | Published By : QYRESEARCH
One of the primary factors driving the welding consumables market in India is the growing consumption of steel from several end-use industries across the country. In addition to this, the India welding consumables market is anticipated to benefit from the rising number of offshore projects and the expansion of the oil and gas industry.
The welding consumables market in India will, however, be challenged be a number of factors. The most prominent hurdles facing the market are the growing competition presented by foreign players and the volatile supply of raw materials. Another factor that is likely to challenge the welding consumables market in India is the acute shortage of labor in the country.
Inflow of Foreign Labor Characterizes India Welding Consumables Market
The shortage of both unskilled and skilled workforces in the steel and welding consumables markets in India is so severe that several project contractors are depending on foreign laborers. At present, a number of project contractors in the welding consumables market in India have been investing in importing welding and cutting operators from countries far and near such as China, Russia, and many Eastern European countries.
‘Make in India’ Campaign Driving Demand for Welding Consumables in India
The India welding consumables market is categorized on the basis of application into power, marine, wear plate, construction and building, transportation and automobile, oil and gas, and others such as maintenance and repair. The ongoing ‘Make in India’ campaign has greatly contributed toward the growth of many manufacturing industries in the nation such as the power sector, the automobile sector, and the construction industry. Nevertheless, over the past few years, the shortage of skilled labor has become even more evident in these sectors.
Hoping to overcome their growing challenges related to the acute dearth of skilled and unskilled labor, the Indian Institute of Welding (IIW) has requested the Prime Minister of India Mr. Narendra Modi to attract the youth of the country towards the profession of welding by incentivizing skill development programs.