The global welding equipment market is expected to witness a strong growth rate of more than 5% during the projected period. Around the world, numerous industries like automotive, building and construction, and oil and gas are embracing automatic welding technology to speed up the fusing process and provide welds with a better level of precision. Over the projection period, global welding equipment is likely to maintain the dominant share in the market.
In addition, the usage of welding equipment has enabled the manufacturers to reduce the time consumed in the manufacturing sector as well as reduce the overall expenditure, which is expected to drive the market growth of global welding equipment in the upcoming years.
Also, the constant need for maintenance and repair of existing applications to ensure efficient operations across various end-use industries could further propel the demand for this equipment over the forecast period.
The emergence of advanced technologies like robotic laser beam welding skyrocketed the demand for welding equipment
Robotic Laser beam technology help in reducing the time consumed by the welding process. This in turn is expected to increase the demand for welding equipment in the upcoming years. Moreover, the emergence of modern designs and models in the automotive industry will further fuel market growth.
- In addition, the growing scale of construction activities across the globe is likely to create a demand for welding equipment in the upcoming years.
- Moreover, the need for services like wind turbine installation is rising due to the significant expansion of infrastructure development projects around the world, particularly as governments concentrate on increasing the output of renewable energy. During the coming years, this trend is anticipated to increase demand for welding equipment.
Over the past few years, the use of welding robots in manufacturing facilities has reduced the need of manual automation methods and labour in a number of industries. It is estimated that the automatic welding market will be driven by the rising deployment of robots. Additionally, the global market for automatic welding is expanding due to the development of effective and intelligent technology-based robotic welding systems, such as remote-controlled and AI-equipped robots.
Asia Pacific constitutes a huge market share in the global welding equipment market
Asia Pacific holds a prominent market share in the global welding equipment market. This growth is backed by the increasing scope of the manufacturing industry in countries like India and China. Moreover, the growth of welding equipment in India is backed by constant government support and initiative like “Make in India”. This program is expected to focus on manufacturing goods instead of importing from other countries. This, in turn, is expected to fuel the market growth of the global welding equipment market in the forthcoming years.
On the other hand, Europe is expected to witness substantial growth backed by the growth of the automotive industry. In North America, the building and construction industry will result in the growth of the global welding equipment market.
Brazil and Mexico are expected to lead the growth of the market in Latin America and is anticipated to boost the demand for welding equipment owing to the increasing expenditure on construction activities in the region. Whereas in the Middle East and Africa, the rapid growth of the oil & gas sector will catalyze the demand for welding equipment in the region.
Market Structure and Competitive Landscape
The global welding equipment market is fragmented in nature with various players operating in the market, some of the prominent players that contribute significantly to the global welding equipment market include Lincoln Electric Inc, Arcon Welding Equipment, Voestalpine AG, Linde Plc, Illinois Tool Works Inc, Air Liquide S.A., Ador Welding Ltd, Tianjin Golden Bridge Welding Materials Group International Trading Co., Kaierda Group Ltd, Colfax Corporation, ROFIN-SINAR Technologies, Doncasters Group Ltd, DAIHEN Corporation, Fronius International gmbH, Panasonic Welding Corporation, Miyachi Corp, Hyundai Welding Co Ltd, and Miller Electric Manufacturing LLC among others.
These players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers and acquisitions, product launches, partnerships, and collaborations are some of the strategies followed by industry players. Some of the key developments in the global welding equipment market include,
- In February 2021, Lincoln Electric introduced the new Vantage 441X, the latest addition to its Vantage line of diesel engine-driven welders/generators. This generator includes features that aid in keeping job site welding at peak performance.
- In December 2020, Lincoln Electric released a VRTEX OxyFuel Cutting feature in partnership with The Harris Products Group, a Lincoln Electric firm and the industry leader in cutting, that blends welding and cutting by allowing customers to practice torch cutting safely and realistically.
- In November 2020, ESAB Welding & Cutting Products introduced Shield-Bright NiCrMo-3, a 625-type electrode for manual and automatic flux-cored wide-weave welding of 9% nickel steel in the vertical-up (3G) position and using 75% argon/25% CO2 shielding gas.
- In November 2019, Lincoln Electric introduces a new MIG welding technology which has an easy-to-use interface with advanced welding features.
- This product was specifically made for metal fabrication, auto-body repair and maintenance, and light industrial applications.
Key Market Segmentation
RationalStat has segmented the global welding equipment market based on product, technology, automation type, application, and region.
- By Product
- MIG & TIG Welders
- Welding Tables
- Weld Tabs
- Grinding Wheels
- Helmets and Gloves
- Solid Wires
- Flux-Cored Wires
- Saw Wires
- Electrodes and Filler Materials
- Others (gases, etc.)
- By Technology
- Arc Welding
- Resistance Spot Welding
- MIG/TIG Welding
- Oxy-fuel Welding
- Laser Beam Welding
- Others (Ultrasonic welding, etc.)
- By Automation Type
- By Application
- Power & Energy
- Oil & Gas
- Machine Manufacturing
- Infrastructure Development
- Others (Repair & Maintenance, etc.)
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide clients with the best possible real-time insights. We combine various industry experiences, data analytics, and experts’ viewpoints to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid databases including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
Why Buy this Report?
The report is intended for global welding equipment manufacturers and suppliers, government organizations, educational organizations, regulatory agencies, and market research firms, among others. The report provides an in-depth analysis of market size, consumption patterns, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.
Frequently Asked Questions (FAQs)
The Global welding equipment market is expected to grow at a CAGR of approximately 5% during the forecast period 2022-2028.
The global market for welding equipment is estimated at US$ 31.1 Billion in 2022.
The emergence of new and advanced technologies and increasing applications of welding equipment in various industries are the major trends in the global welding equipment Market.
Asia Pacific holds a prominent share of the global welding equipment Market.
Major companies operating in the global welding equipment market include Lincoln Electric Inc, Arcon Welding Equipment, Voestalpine AG, Linde Plc, Illinois Tool Works Inc, Air Liquide S.A., Ador Welding Ltd, Tianjin Golden Bridge Welding Materials Group International Trading Co., Kaierda Group Ltd, Colfax Corporation, ROFIN-SINAR Technologies, Doncasters Group Ltd, DAIHEN Corporation, Fronius International gmbH, Panasonic Welding Corporation, Miyachi Corp, Hyundai Welding Co Ltd, and Miller Electric Manufacturing LLC among others.