Dublin, March 22, 2023 (GLOBE NEWSWIRE) -- According to the latest estimates by Fact.MR, a market research and competitive intelligence provider, the global arc welding equipment market is valued at US$ 5.1 billion in 2023 and is predicted to expand at a CAGR of 5.5% from 2023 to 2033.
Arc welding is a form of joining technique that uses an electric arc to generate heat and melt metals. Industries such as oil & gas, energy, aerospace, automotive, and residential and commercial construction are using welding equipment more widely. The welding process is made even simpler for the user by introducing new technologies such as remote control and AI-based welding robots, which help in improving quality and production standards.
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Report Attributes | Details |
| Forecast Period | 2023 - 2033 |
| Value Projection (2032) | US$ 8.7 Billion |
| Growth Rate (2022-2032) | 5.5% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 80 Tables |
| No. of Figures | 219 Figures |
In the automotive sector, welding equipment is utilized to weld numerous parts. Welding is a crucial operation for bodywork and auto maintenance. For combining small parts and components, gas tungsten arc welding is best suited for automotive manufacturing tasks. Because of the technique's adaptability, it can be used on both steel and alloy metals creating neat, high-quality welds.
- According to European Automobile Manufacturers Association (ACEA) statistics, around 19.5 million cars and 10.8 million passenger vehicles were produced in the European region in 2021.
- China produced 2.21 million heavy vehicles in 2020 and 2.98 million in 2021, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA) data.
Key Takeaways from Market Study
- Sales of arc welding equipment are expected to reach US$ 8.7 billion by 2033.
- The market in Canada is predicted to expand at a CAGR of 5% from 2023 to 2033.
- The use of arc welding equipment in the utility & energy sector is expected to rise at a CAGR of 6.5% over the next 10 years.
- China’s market for arc welding equipment is predicted to rise at a CAGR of 8% over the forecast period.
“The construction field is experiencing high demand for arc welding machines due to the need to assemble metal components into structural frameworks,” says a Fact.MR analyst.
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Key pioneers
- Amada Miyachi Co., Ltd.
- American Torch Tip
- Arc Machines, Inc.
- Automation International, Inc.
- Beijing Time Technologies Co., Ltd.
- Colfax Corporation
- Costruzioni Elettromeccaniche Annettoni S.p.A. (CEA)
- Daihen Corporation
- Doncasters Group Ltd.
- Fronius International GmbH
- ITW Welding
- Kobe Steel Ltd.
- NIMAK GmbH
- Panasonic Welding Systems Co., Ltd.
- Shandong AoTai Electric Co., Ltd.
- Shanghai Hugong Electric (Group) Co. Ltd.
- Shenzhen Riland Industry Co., Ltd.
- Telwin SpA
- The Lincoln Electric Company
Competitive Analysis
To combat shifting raw material prices, major arc welding equipment manufacturers are concentrating on implementing various pricing schemes.
- Lincoln Electric pursued profitability despite ongoing raw material inflation by implementing a product mix and a strong pricing management strategy.
To fulfill changing consumer expectations and increase profitability, suppliers are also actively improving their current lines of products in terms of price, quality, and procedures.
- To strengthen its ability to compete in the market, DENYO CO., LTD. is concentrating on machines by examining its sales structure and producing new items.
Market Structure
- By Technology:
- Shielded Metal
- Gas Metal
- Flux Core
- Gas Tungsten
- Submerged
- By Automation Level:
- Manual
- Automatic
- Semi-automatic
- By Gas:
- Argon
- Helium
- Hydrogen
- Carbon Dioxide
- Oxygen
- Nitrogen
- By End Use:
- Energy & Utilities
- Automotive
- Construction
- Aerospace & Defense
- Shipbuilding
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global arc welding equipment market presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights into the market based on technology (shielded metal arc welding, gas metal arc welding, flux core arc welding, gas tungsten arc welding, submerged arc welding), automation level (manual, automatic, semi-automatic), gas (argon, helium, hydrogen, carbon dioxide, oxygen, nitrogen), and end use (energy & utilities, automotive, construction, aerospace & defense, shipbuilding), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Key Questions Covered in the arc welding equipment report
- What is the projected value of the arc welding equipment in 2023?
- At what rate will the global arc welding equipment grow until 2033?
- Which are the factors propelling the growth in the arc welding equipment?
- Which region is expected to lead in the global arc welding equipment during 2023 to 2033?
- Which are the factors driving the arc welding equipment during the forecast period?
- What is the expected market value of the arc welding equipment during the forecast period?
Check out more related studies published by Fact.MR Research:
Powder Welding Market Outlook: The global powder welding market is estimated to reach a value of USD 5.1 billion by 2026, registering a CAGR of 6.6% during the forecast period of 2021-2026.
Welding Curtains Market Forecast: The global welding curtains market is expected to witness moderate growth over the forecast period, owing to increasing demand from the industrial sector. The market is expected to be driven by growing demand for welding curtains from the automotive and aerospace industries.
Welding Electrodes Market Size: The increment in refurbishing and renovation activities across the globe is anticipated to develop the growth of the welding electrodes market significantly.
Welding Chemicals Market Share: The global welding chemicals market is expected to grow at a significant pace over the forecast period, owing to the increasing adoption of welding chemicals for various applications such as welding of steel, aluminum and other alloys.
Welding Gas Market Trends: The global welding gas market is projected to reach USD 12.5 billion by 2027, growing at a CAGR of 6.8% during the forecast period. The increasing demand for automated welding systems and the rising adoption of industrial robots across the globe are the primary factors driving the growth of the market.
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