The Welding Equipment market is expected to grow at a CAGR of 4.8% to reach USD 45.12 billion in 2029.
Welding is basically a process of assembling or manufacturing employed to join materials such as thermoplastics and metals. These materials are joined together by synthesis of the interconnecting materials. Number of industrial products are made by using the welding process. Therefore, the use of new tools in numerous industries are demanding new and inventive welding technologies. Hence, many industrial manufacturers are focusing on the improvement of new welding machines and tools to accomplish the growing demand.
The Global welding equipment market is projected to witness beneficial growth in coming years, owing to rising demand for various application comprising shipbuilding, offshore exploration, oil and gas, automotive, construction, energy, and aerospace. Likewise, the change of trend from manual to automated machine is expected to grow demand of the market.
By technology, the welding equipment market can be categorized into resistance welding, arc welding, laser beam welding, oxy-fuel welding, and others. Among these, the arc welding segment conquered the market for welding equipment in previous years and is anticipated to raise maximum grip in coming years. Arc welding is one of the most favored technology in the production of offshore structures, pipelines, and other practice equipment. Innovative arc welding technologies are also being announced to increase efficiency and productivity. The growing trend of decrease in the weight of car bodies is increasing the demand for innovative arc welding technologies.
Increasing substructure projects comprising wind turbine connections is a major factor driving the welding equipment market growth. Asia has converted into a manufacturing hub with developing economies, such as China and India, driving huge demand of the growth. The European manufacturing industry is expected to lead the trade thoroughly followed by the Asia Pacific and U.S., which is credited to growing demand from European transportation, electronics, construction, and heavy machinery industries.
By application, the welding equipment market categorized into building & construction, automotive & transportation, marine, oil & gas, metalworking, aerospace & defense, and others. Development of automotive & transportation segment is expected to drive the rising demand for welding equipment market over forecast years. The global welding equipment market is estimated to value higher than before in coming years, as automotive is a major element of the market. Numerous materials such as glass, steel, copper, rubber, plastic, and aluminum are used in various parts of a vehicle.
Geographically, Europe is expected to lead the global welding equipment market over forecast year. This can be accredited to growing demand from transportation, automotive, electronics, construction industries, and heavy machinery in Europe. Likewise, significant growth in energy productivity offered by robotic welding equipment is expected to enlarge the demand for these tools in North America and Europe in coming years.
Global welding equipment market: Kay players
- Air liquid SA
- Daihen Corporation
- Panasonic Welding Systems Co. Ltd
- ARCON Welding
- ACRO Automation Systems
- Rofin-Sinar Technologies Inc.
- Illinois Tool Works Inc.
- Banner Welder Inc.
- Lincoln Electric Holdings Inc.
- Air Liquid SA
Welding Equipment Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2029||USD 45.12 billion|
|Growth Rate||CAGR of 4.8 % during 2021-2029|
|Segment Covered||Technology Outlook, Equipment Outlook, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Arcon Welding Equipment, Colfax Corporation, DAIHEN Corporation, ESAB Welding & Cutting Products, Fronius International GmbH, Illinois Tool Works, Inc., Nelson Stud, Welding (Doncasters Group, Ltd.), Obara Corporation, Panasonic Corporation, Rofin-Sinar Technologies, Sonics & Materials, Inc., The Lincoln Electric Company, Voestalpine AG.|
Global welding equipment market: Segmentation
- Solid wires
- Stick electrodes
- SAW wires and fluxes
- Flux-cored wires
- Building & Construction
- Automobile & Transportation
- Power sector
- Wear plate
- Oil & gas
- Latin America (Canada and U.S.)
- North America (Chile, Mexico, Brazil, and others)
- Western Europe (U.K., Germany, Spain, France, Nordic countries, Italy, Netherlands, Belgium, and Luxembourg)
- Eastern Europe (Russia and Poland)
- Asia Pacific (India, China, Japan, ASEAN, New Zealand, and Australia)
- Middle East and Africa (Southern Africa, North Africa, and GCC)
What to expect from the upcoming report on ‘Global Welding Equipment Market’:
- Analysis of future prospects as well as global welding equipment market trends market over the forecast period (2018-2025)
- Information regarding technological progressions as well as innovations taking place in developing as well as developed economies and also various macro & microeconomic factors that affect the growth of the market.
- Supportive initiatives by government likely to influence the market dynamics.
- Key drivers influencing market’s growth, opportunities, restraints, sales channels and distributors.
- In-depth analysis of different market segmentations including end-user, application, manufacturing process and geographical regions.
- Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market such as expansions, growth strategies, agreements, new product launches and acquisitions in the market
- Value Chain and Sales Channels Analysis
Who should buy this report?
- Report is especially designed for Venture capitalists, Investors, financial institutions, Analysts, Government organizations, regulatory authorities, policymakers, researchers, strategy.