New York, United States, Dec. 12, 2023 (GLOBE NEWSWIRE) -- The Global Welding Equipment Market Size is to Grow from USD 18.50 Billion in 2022 to USD 29.28 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.7% during the forecast period.
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Welding equipment encompasses a diverse range of tools and machinery utilized in the process of joining metals and thermoplastics through the application of heat and pressure. The fundamental objective of welding is to create a strong, durable bond between materials, and the equipment used plays a pivotal role in achieving this goal. Key components of welding equipment include welding machines, electrodes, filler metals, welding helmets, and safety gear. Welding machines come in various types, such as arc welders, MIG welders, TIG welders, and more, each suited to specific applications. Electrodes and filler metals are chosen based on material compatibility and welding process. Welding helmets and protective gear are essential for operator safety, shielding against intense heat, UV radiation, and sparks
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the "Global Welding Equipment Market Size, Share, and COVID-19 Impact Analysis, By Type (Automatic, Semi-Automatic, and Manual), By Technology (Arc Welding, Resistance Welding, Laser Beam Welding, Oxy-Fuel Welding, and Others), By End-Use (Aerospace, Automotive, Building & Construction, Energy, Oil & Gas, Marine, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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In 2022, the automatic segment accounted for around 50.6% market share
On the basis of the type, the global welding equipment market is segmented into automatic, semi-automatic, and manual. The automatic type segment has taken the lead in the welding equipment market due to several compelling reasons. Automation offers enhanced precision, consistency, and efficiency in welding processes, reducing human error and increasing productivity. Industries are increasingly adopting automated welding systems to achieve higher output rates and maintain product quality. Furthermore, automation minimizes labor costs and the need for skilled welders, making it a cost-effective choice for manufacturers.
The ARC welding segment held the largest market with more than 65.2% revenue share in 2022
Based on the technology, the global welding equipment market is segmented into ARC welding, resistance welding, laser beam welding, oxy-fuel welding, and others. The arc welding technology segment has emerged as the market leader in welding equipment for several compelling reasons. ARC welding offers versatility and reliability, making it suitable for a wide range of applications across industries such as construction, manufacturing, and automotive. Its ability to join various materials, including metals and alloys, adds to its widespread adoption. Moreover, ARC welding techniques like MIG and TIG have gained prominence due to their precision and efficiency, especially in critical applications.
The building and construction segment is expected to Grow at a CAGR of around 4.8% during the forecast period
Based on the end-user, the global welding equipment market is segmented into aerospace, automotive, building & construction, energy, oil & gas, marine, and others. The building and construction segment is projected for substantial Growth during the forecast period due to several factors. Rapid urbanization, population Growth, and infrastructure development projects are driving demand for welding equipment in the construction sector. Welding is integral for fabricating structural components, reinforcing steel, and joining various construction materials. Additionally, as sustainable building practices gain traction, welding equipment is vital for constructing energy-efficient structures.
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South America is predicted to Grow at a significant CAGR of around 4.9% over the forecast period
Based on region, the South American welding equipment market is projected for significant Growth during the forecast period due to rapid urbanization and increasing infrastructure projects across the continent are driving the demand for welding equipment in the construction and manufacturing sectors. The region's rich natural resources, particularly in mining and oil and gas, necessitate welding for exploration and production, further boosting the market. Additionally, initiatives promoting renewable energy and investments in the automotive and aerospace industries are expected to fuel demand.
Asia Pacific has consistently led the welding equipment market share due to burgeoning industrialization, especially in countries like China and India, which has spurred immense construction, manufacturing, and infrastructure development, driving substantial demand for welding equipment across various sectors. Additionally, Asia Pacific benefits from lower labor costs, making it an attractive hub for manufacturing, which, in turn, fuels the demand for welding machinery and automation solutions.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major players in the global welding equipment market include Lincoln Electric, ACRO Automation Systems, Inc., AIR LIQUIDE, Mitco Weld Products Pvt. Ltd., Voestalpine Bohler Welding Group GmbH, Carl Cloos Schweisstechnik GmbH, OTC DAIHEN Inc., Illinois Tool Works Inc., Panasonic Industry Co., Ltd., Coherent, Inc., ESAB, Polysoude S.A.S., Kemppi Oy., CRUXWELD and other vendors.
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Recent Developments
- In February 2023, Weldmac Manufacturing Company, a premier designer and producer of high-performance, complex metal fabricated components and assemblies for the aerospace, defense, and space launch end sectors, has announced that TriMas has signed an agreement to buy its operational net assets.
- In December 2021, The Lincoln Electric Company (a global manufacturer of welding products, arc welding equipment, welding consumables, plasma and oxy-fuel cutting equipment, and robotic welding systems) introduced the 'Ranger 330MPX EFI,' a versatile and compact unit built for all seasons with a more powerful, smarter, smaller, and quieter machine.
Market Size Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global welding equipment Market Size based on the below-mentioned segments:
Welding Equipment Market Size, By Type
- Automatic
- Semi-Automatic
- Manual
Welding Equipment Market Size, By Technology
- Arc Welding
- Resistance Welding
- Laser Beam Welding
- Oxy-Fuel Welding
- Others
Welding Equipment Market Size, By End-Use
- Aerospace
- Automotive
- Building & Construction
- Energy
- Oil & Gas
- Marine
- Others
Welding Equipment Market Size, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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