DUBLIN, May 29, 2023 /PRNewswire/ — The “Welding Equipment Market Size, Share & Trends Analysis Report By Type (Automatic, Manual), By Technology (Arc Welding, Resistance Welding), By End-use, By Region, And Segment Forecasts, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The global welding equipment market size is expected to reach USD 27,765.7 million by 2030 and it is expected to expand at 5.0% CAGR from 2023 to 2030. The market has witnessed considerable growth over the past years owing to the growing demand for welding equipment across applications such as shipbuilding, offshore exploration, oil & gas, aerospace, automotive, construction, and energy.
The pandemic resulted in increased global unemployment and high loan interest rates, along with higher inflation. These macroeconomic determinants halted industrial expansions, limiting the short-term growth of the welding equipment industry. However, the growing electric vehicle industry, coupled with the rising adoption of welding equipment in the automotive industry, is anticipated to fuel notable market growth over the forecast period.
Increasing demand for welded steel in the construction of residential and commercial structures is also anticipated to boost the market growth over the projected period. According to Worldwide Construction Perspectives and Oxford Economics, global construction output is projected to increase by 85% and reach USD 15.5 trillion by 2030. Countries such as India, China, and the U.S. are expected to account for more than 50% of global growth. This increase in construction output is expected to have a favorable influence on the welding equipment industry in the coming years.
There has been increased adoption of automatic welding equipment globally in the past few years owing to their quick weld cycle time, high output, and decreased welding costs. The fast-paced adoption of this equipment in various end-use industries such as automotive, construction, and aerospace is expected to fuel the demand for automatic welding equipment. For instance, in April 2021, The Lincoln Electric Company acquired Zeman Bauelemente Produktionsgesellschaft m.b.H. This move was taken in order to increase its global annual automation sales by 10%
Welding equipment manufacturers are seeking collaborations, mergers, and acquisitions to develop advanced and innovative solutions. In addition, manufacturers are also adopting several strategies like new product development, and geographical expansion, to enhance their market penetration and cater to the end-use industries. For instance, in February 2022, Miller Electric Mfg. LLC collaborated with the National Center for Construction Education & Research (NCCER). The partnership will offer training for NCCER welding levels 1 and 2 with Miller Augmented Arc Augmented Reality Welding Systems, version 2.2.0.
Welding Equipment Market Report Highlights
- The demand for automatic welding equipment accounted for 56.2% of the global revenue share in 2022, owing to benefits such as increased productivity, decreased cycle duration, and increase efficiency
- The arc welding technology segment accounted for a 70.7% share of the global revenue in 2022. Arc welding technology is being increasingly utilized owing to its characteristics such as flexibility and the ability to perform in all conditions.
- Continuous development in robotic arc welding is an important factor driving the arc welding segment in the welding equipment industry
- The aerospace end-use segment is projected to witness growth at a CAGR of 6.1% from 2023 to 2030, owing to growing applications in aerospace manufacturing including heating elements, circuit board traces, electronic components, actuators, fine ribbon welding, inductors, mesh welding, and hybrid micro-weld devices
- Asia Pacific accounted for 36.1% of the global revenue share in 2022 on account of the robust automotive industry. Increasing demand for electric and hybrid cars is expected to benefit the demand for welding equipment
- In April 2022, Kemppi Oy launched the premium compact MIG/MAG series, which includes three class-leader models: 353, 355, and 358, featuring alternative manual, auto, and auto pulse specifications
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Welding Equipment Market Variables, Trends & Scope
Chapter 4. COVID-19 Impact Analysis
Chapter 5. Welding Equipment Market: Type Estimates & Trend Analysis
5.1. Welding Equipment Market: Type Movement Analysis, 2022 & 2030
5.2. Automatic
5.3. Semi-Automatic
5.4. Manual
Chapter 6. Welding Equipment Market: Technology Estimates & Trend Analysis
6.1. Welding Equipment Market: Technology Movement Analysis, 2022 & 2030
6.2. Arc Welding
6.3. Resistance Welding
6.4. Laser Beam Welding
6.5. Oxy-Fuel Welding
6.6. Others
Chapter 7. Welding Equipment Market: End-Use Estimates & Trend Analysis
7.1. Welding Equipment Market: End-Use Movement Analysis, 2022 & 2030
7.2. Aerospace
7.3. Automotive
7.4. Building & Construction
7.5. Energy
7.6. Oil & Gas
7.7. Marine
7.8. Others
Chapter 8. Welding Equipment Market: Regional Estimates & Trend Analysis
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
Companies Mentioned
- Lincoln Electric
- ACRO Automation Systems, Inc
- AIR LIQUIDE
- ARCON – 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.
For more information about this report visit https://www.researchandmarkets.com/r/gopjyz
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