Welding Equipment Market By Technology (Arc Welding, Resistance Welding, Oxy-Fuel Welding, Laser-beam Welding, Others); By Application (Automotive & Transportation, Building & Construction, Marine Applications, Others); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2023-2032
Welding Equipment Market Overview
Global welding equipment market witnessed a market value of USD 32.2 billion in 2022 and is estimated to reach USD 48.1 billion in 2032, registering a compound annual growth rate (CAGR) of 4.1% between 2022 and 2032.
Welding equipment refers to the tools, machines, and accessories used to join metal parts by melting and fusing them together. Welding is a key manufacturing process used in various industries such as construction, automotive, shipbuilding, and aerospace, among others.
The global welding equipment market has been growing steadily in recent years, driven by factors such as increasing demand for welding equipment from various end-use industries, the growing trend of automation in manufacturing processes, and the increasing need for efficient and high-quality welding processes.
Welding equipment includes a wide range of products, including welding machines, welding consumables, welding accessories, and welding gases. Welding machines can be divided into two main categories: arc welding machines and gas welding machines. Arc welding machines are further classified into stick welding machines, TIG welding machines, and MIG welding machines, among others. Welding consumables include welding electrodes, filler materials, and shielding gases.
The welding equipment market is highly competitive, with several large and small players offering a wide range of products and services. Some of the key players in the market include Lincoln Electric, ESAB, Panasonic, Kemppi, and Miller Electric, among others.
Rising consumption of welding equipment in various applications such as offshore exploration, shipbuilding, oil & gas, automotive, aerospace, construction, and energy is believed to impel the growth of the market during the forecast period. Addition to that, increasing investment in infrastructure projects is expected to foster the growth of the market. Further, existing industrial application continuously requires maintenance and repairing activities. This factor is envisioned to bolster the growth of the market.
Economic growth activities in developing will also result in an increase in construction and manufacturing activities. Further, rising real estate industries in growing economies is further believed to offer significant growth opportunities to market.
Innovations and new product development such as friction stir welding is gaining traction in the market. Further, shift of trend from manual to automatic welding technologies are expected to aid the growth of the market during the forecast period.
Welding Equipment Market Regional Outlook
In the terms of geography, the welding equipment market is analyzed into North America, Latin America, Asia Pacific, Europe and Middle East & Africa. Among these regions, Europe is slated to account for highest percentage of market share in overall welding equipment market during the forecast period. Asia Pacific welding equipment market accounted for second position in overall welding equipment market in 2017.
Welding Equipment Market Segmentation
The research offers a comprehensive analysis of welding equipment market with respect to following sub-markets:
By Technology
- Arc Welding
- Resistance Welding
- Oxy-Fuel Welding
- Laser-beam Welding
- Others
By Application
- Automotive & Transportation
- Building & Construction
- Marine Applications
- Others
By Geography
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
Welding Equipment Market Competitive Landscape
The report profiles various major market players such as
- Daihen Corporation
- Air Liquide SA
- Bohler Thyssen Welding USA Inc.
- Panasonic Welding Systems Co. Ltd.
- Rofin-Sinar Technologies Inc.
- ARCON Welding, LLC
- Carl Cloos Schweisstechnik GmbH
- ACRO Automation Systems
- Illinois Tool Works Inc.
- Banner Welder Inc.
- Others Major and Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development expansion and other market activities.
The study also provides company’s positioning and market share in welding equipment market.
Timeline Considered for Analysis:
- 2022: Base Year
- 2023: Estimated Year
- 2023 to 2032: Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global welding equipment market by the following segments:
- Technology
- Application
Geographic Market Analysis:
The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.
Key Questions Answered in the Global Welding Equipment Industry Report
- What is the overall market size in 2022? What will be the market growth during the forecast period i.e. 2023-2032?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?
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- Publication date: 19th February 2024
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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