The global Welding Equipment Market is estimated to be valued at US$ 18.39 Bn or Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Welding equipment refers to machines and tools used to join materials, usually metals or thermoplastics, by causing fusion. Some common welding methods include arc welding, resistance welding, friction welding, and laser beam welding. Welding equipment plays a vital role in various industries such as automotive, construction, shipbuilding, aerospace, and manufacturing. Growing demand from these industries is expected to drive growth of the welding equipment market over the forecast period.
Welding equipment is used in various welding processes to join materials through heating and melting. Major products in the market include welding guns, welding torches, welding machines, welding helmets and gloves. The market is driven by the growing demand for welding equipment from industries where joining of materials is a major operation.
Market key trends:
One of the key trends in the welding equipment market is growing adoption of automated and robotic welding systems. Manufacturers are increasingly adopting automated welding technology to improve productivity and quality. Robotic welding systems provide benefits such as reduced labour costs, improved consistency and repeatability of welds, cost reductions through increased production volumes. They offer benefits in high production volume applications with repetitive welding tasks. Robotic welding also helps in performing complex welding operations and working in confined areas where manual welding is difficult. This is expected to fuel the demand for welding robots and automated welding equipment over the forecast period.
The global Welding Equipment market is dominated by the arc welding equipment segment. Arc welding accounts for over 65% of the total welding equipment market share due to its wide applicability and simplicity. Arc welding techniques like Stick welding and MIG/MAG welding are the most commonly used welding processes across various end-use industries like automotive, shipbuilding, and construction. Compared to other welding techniques, arc welding offers higher deposition rates and is more operator-friendly.
The Global Welding Equipment Market Size is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing infrastructure development activities worldwide. Rapid urbanization and growing construction spending in emerging economies of Asia Pacific and Latin America are the key growth drivers.
Asia Pacific dominates the global welding equipment market with over 40% share due to thriving manufacturing and construction industries in China, India, and Southeast Asian countries. China alone accounts for over 30% of the global demand for welding equipment. Europe and North America are other major markets driven by well-established automotive and machinery manufacturing sectors.
Key players operating in the Welding Equipment market are Amada Miyachi, Inc., Arcon Welding Equipment, Colfax Corporation, DAIHEN Corporation, ESAB Welding & Cutting Products, Fronius International GmbH, Illinois Tool Works, Inc., Nelson Stud Welding (Doncasters Group, Ltd.), Obara Corporation, Panasonic Corporation, Rofin-Sinar Technologies, Sonics & Materials, Inc., The Lincoln Electric Company, and Voestalpine AG.