What is the market size for welding equipment and consumables? At what rate is the market growing?
The weld metal deposit can be taken at 1.5 per cent of the weldable steel. India’s consumption of crude steel is about 50 mmt and is planned to be increased to 100 mmt by 2020, so one can see the large size of the market and the expected growth. The market will grow at least at the rate of the industrial and GDP growth, but we can expect the growth to even surpass this rate as more indigenous products come to the market. Today, India has technological ability to match foreign competitors and thus we can also expect a large import substitution, especially if quality can be ensured and delivered. Global players are entering the market because a large growth is expected. The present market is about $0.6 billion or about Rs 2,500 crore. The growth is directly linked with the steel industry. Please comment. There cannot be a statement more correct than this one. This statement may be slightly diluted, with increasing use of several composites on the industrial and technological scene. But w
