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News Release from: Frost and Sullivan | Subject: Malaysian welding equipment markets
Edited by the Manufacturingtalk Editorial
Team on 23 June 2006
Malaysian welding equipment markets to
grow
Frost and Sullivan finds that Malaysian markets for welding equipment and consumables earned revenues of US$71.6 million in 2005 and estimates this to reach US$108.3 million in 2012.
Demand for welding equipment in Malaysia is set to expand as foreign investment boosts the general level of industrial infrastructure and manufacturing activity in the country In 2005, the Malaysian Government eased rules to allow foreign investors 100% ownership of newly established manufacturing firms, thus putting Malaysia on par with other countries vying for foreign capital
This article was originally published on Manufacturingtalk on 28 Apr 2004 at 8.00am (UK)
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Frost and Sullivan finds that Malaysian markets for welding equipment and consumables earned revenues of US$71.6 million in 2005 and estimates this to reach US$108.3 million in 2012.
"The spill over effects from other sectors benefiting from an increase in investment are likely to boost the demand for welding equipment and consumables," noted Frost and Sullivan Research Analyst Titus Hocevar.
"The growth caused by rising foreign investment is also likely to encourage developments in welding technology as foreign companies are expected to have higher requirements for welding equipment." The upstream oil and gas sector will be the prime beneficiary of the foreign ownership policy, with exploration and production activities expected to take centre stage in the next few years.
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Local incumbents in the automotive industry will also need to modernise their facilities and equipment to remain competitive in the liberalised domestic market.
Lack of technological expertise has led to an underdeveloped domestic welding equipment industry in Malaysia, primarily due the lack of resources for research and development, emphasising price competition.
"Employees and staff are not given direct and proper training on handling welding equipment, as appropriate welding standards have yet to be established in Malaysia," said Hocevar.
"Production engineers are also unaware of the best ways to improve welding productivity.
This leads to companies buying relatively standard, but low-technology solutions." One way to approach welding technology end users in Malaysia is to offer them complete integrated and automated welding solutions.
All industry participants should complement this with a long-term drive to raise the level of awareness about the technology and its benefits.
Malaysian Markets for Welding Equipment and Consumables is part of the Welding subscription, which also includes research in the following markets: Latin American welding Equipment and Consumables Markets, Emerging Opportunities in Russian and Ukrainian Welding Equipment and Consumables Markets, European Laser Welding Equipment Markets.
All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
Analyst interviews are available to the press.
Frost and Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years.
The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities.
Frost and Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics and demographics.
* Malaysian Markets for Welding Equipment and Consumables - B821-10.
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