Welding Equipment Market

Welding Equipment Market Outlook (2024 to 2034)

The global welding equipment market size is estimated at US$ 21.93 billion in 2024 and is projected to reach a market size of US$ 36.41 billion by 2034-end, expanding at a CAGR of 5.2% between 2024 and 2034.

Welding, an integral manufacturing and assembly method, facilitates the joining of materials like metals and thermoplastics through fusion. This technology is in a continual state of evolution. Across industries, welding processes play a crucial role in producing a vast array of industrial goods. Consequently, there's a rising global requirement for welding equipment to execute these processes.

Integration of innovative materials in diverse industries has prompted the advancement of state-of-the-art welding technology. As a result, manufacturers are directing their efforts toward innovating new welding machinery and equipment to cater to the escalating demand and address the imperative for timely product development.

Equipment used in welding plays a crucial role in achieving the main objective of creating a strong and lasting connection between metals and thermoplastics. Welding equipment represents a range of tools and machinery that apply heat and pressure to join these materials together.

Crucial components of welding equipment consist of welding machinery, electrodes, filler metals, welding helmets, and protective clothing. Welding machinery comes in various types, such as MIG welders, arc welders, and TIG welders, designed for specific purposes. Electrodes and filler metals are selected based on their compatibility with the materials being welded and the preferred welding techniques. Furthermore, the operator's safety is ensured through the use of welding helmets and protective clothing, which protect against extreme heat, UV radiation, and sparks.

Report Attributes	Details
Welding Equipment Market Size (2024E)	US$ 21.93 Billion
Forecasted Market Value (2034F)	US$ 36.41 Billion
Global Market Growth Rate (2024 to 2034)	5.2% CAGR
North America Market Growth Rate (2024 to 2034)	5.6% CAGR
East Asia Market Growth Rate (2024 to 2034)	5.5% CAGR
Automatic Segment Market Share (2024E)	46.9%
Arc Welding Segment Market Share (2024E)	69.2%
Key Companies Profiled	Arcon Welding Equipment Colfax Corporation OBARA CORP Panasonic Corporation Amada Miyachi, Inc. DAIHEN Corporation ESAB Welding & Cutting Products Fronius International GmbH Rofin-Sinar Technologies Sonic & Materials Inc.

Why is There Increasing Use of Welding Equipment Worldwide?

“Integration of Augmented and Virtual Reality Revolutionizing Welding Industry”

Augmented reality (AR) and virtual reality (VR) technologies provide interactive experiences designed for training, simulation, and remote supervision of welding operations. These technologies provide training modules that allow welders to enhance their skills in risk-free environments. Through virtual welding machines, they can practice without the need for actual welding equipment.

AR and VR also enable remote guidance, allowing seasoned welders or supervisors to offer live instructions and aid to on-site personnel. This remote support streamlines issue resolution, minimizes downtime, and guarantees precise execution of welding tasks, irrespective of geographical location.

“Growing Demand for Welding Equipment from Construction Sector”

Welding equipment finds extensive use in the construction sector, serving various purposes like joining steel reinforcements, crafting external window grills, constructing metal doors, and erecting steel structures. Consequently, with the ongoing expansion of the construction industry, the demand for welding equipment is projected to rise, fostering further growth in the welding equipment market.

Market growth can be attributed to infrastructure development, elevating living standards, and the burgeoning middle-class populace in developing regions. These factors drive the increased adoption of welding equipment, essential for manufacturing a diverse range of automotive components. Additionally, the escalating purchasing power of the masses in emerging economies contributes to the growth of the building construction industry, thereby driving the growth of the welding equipment market.

What are the Main Factors Restraining Market Growth?

“Lack of Skilled Labor Hampering Product Development”

The welding industry heavily relies on proficient labor. As per experts in the welding industry, there exists a global shortage of skilled welders. Notably, the primary challenge encountered by the welding industry pertains to the elevated labor costs in developed regions like North America and Europe.

Significant number of infrastructure project contractors rely on welding and cutting tools, yet they grapple with a shortage of skilled welding professionals for their operations. Vital infrastructure endeavors, including roads, railways, bridges, power installations, and shipping, extensively hinge upon metal joining technologies.

“High Initial Investments for Advanced Welding Equipment”

The initial investment necessary for advanced welding equipment can be substantial, presenting a hurdle for companies with limited capital. The elevated costs of these new technologies serve as a deterrent for businesses operating with constrained funds.

To mitigate this challenge, equipment leasing and financing emerge as feasible solutions to overcome the initial investment obstacle in the market. Embracing equipment leasing allows businesses to evade the weight of substantial upfront expenses, opting instead for manageable periodic lease payments. This strategy empowers companies, particularly smaller market participants, to acquire welding machinery and technology without exhausting their financial resources.

Country-wise Insights

The market can be geographically fragmented into Europe, East Asia, North America, South Asia and Oceania, Latin America, and the Middle East and Africa. In East Asia, the manufacturing sector in China is developing day by day owing to the rising government initiatives to boost production.

What is the Demand Outlook for Welding Equipment in China?

“Market Driven by Swift Growth of Automotive Sector and Increased Vehicle Production”

Attribute	China
Market Value (2024E)	US$ 4.7 Billion
Growth Rate (2024 to 2034)	5.6% CAGR
Projected Value (2034F)	US$ 8.14 Billion

East Asia occupies a dominant market share due to the concentration of various end-use industries within the region. The market's momentum is notably influenced by the presence of burgeoning economies such as China.

Factors such as the rapid expansion of the automotive sector and increased vehicle production are driving market growth in the nation. The market is also benefiting from rapid population growth, the expansion of the workforce, and rising income levels, which are all contributing to increased demand for welding equipment in the country.

Why is Germany a Key Market for Welding Equipment Manufacturers?

“Process Innovations in Automotive Manufacturing”

Europe stands as a leading global hub for automobile manufacturing, drawing significant foreign direct investment (FDI) into its automotive sector. The growth of the automotive industry is attributed to process innovations, ongoing advancements in research and development (R&D), and the amplification of automobile production, notably in nations like Germany.

Germany boasts the presence of renowned global automobile giants such as Volkswagen, BMW, and Mercedes, which consistently emphasize augmenting annual production volumes. Consequently, this drives the heightened demand for welding equipment within the country.

Category-wise Insights

In terms of technology, the market is segmented into arc welding, resistance welding, oxy-fuel welding, and laser-beam welding. The arc welding technology segment has emerged as the market leader in welding equipment for several compelling reasons. Based on application, the market is divided into automobiles & transportation, building & construction, and marine.

Which Technology is Commonly Used in Welding Equipment?

“Cost-effectiveness and Adaptability of Arc Welding Driving Widespread Adoption"

Attribute	Arc Welding
Segment Value (2024E)	US$ 15.17 Billion
Growth Rate (2024 to 2034)	5.3% CAGR
Projected Value (2034F)	US$ 25.52 Billion

The arc welding segment is poised for growth due to its cost-effectiveness and versatile nature. This method offers a seamless and adaptable welding process utilized across diverse industries. This technique is particularly prominent in fabricating steel for the automotive and construction sectors.

Increased adoption of arc welding stems from its innovative application in joining metal sheets with low-alloy elements for increased strength. Arc welding, known for its adaptability and reliability, caters to a broad spectrum of applications in industries like construction, manufacturing, and automotive. Its capability to unite various materials, including metals and alloys, contributes to its widespread acceptance. Furthermore, arc welding techniques such as MIG and TIG have gained acclaim for their precision and efficiency, especially in critical operations.

Which Sectors are Key End Users of Welding Equipment?

"Widespread Use of Welding Equipment in Construction, Automotive, and Marine Sectors"

Attribute	Building & Construction
Segment Value (2024E)	US$ 10.1 Billion
Growth Rate (2024 to 2034)	5.4% CAGR
Projected Value (2034F)	US$ 17.1 Billion

Growth of the construction sector in both developed and developing countries is driving the demand for welding equipment. Furthermore, rapid industrialization is projected to fuel market growth in the foreseeable future. Welding equipment is vital for joining complex and large structures in construction.

In terms of end-users, the automotive and marine sectors are projected to hold a significant share of the welding equipment market by 2034. Increasing importance of manufacturing high-quality automotive components and expanding applications in the marine industry are positively impacting global demand for welding equipment.

Competitive Landscape

Manufacturers employ diverse strategies such as acquisitions, mergers, joint ventures, new product developments, and geographical expansions to bolster market outreach and meet evolving technological demands across sectors such as automotive, construction, marine, and more. Renowned for their innovative and dependable welding technologies, these companies significantly contribute to industries like manufacturing and construction.

• In November 2020, ESAB Welding & Cutting Products unveiled Shield-Bright NiCrMo-3, a 625-type electrode designed for manual and automatic flux-cored wide-weave welding. Specifically crafted for 9% nickel steel in the vertical-up (3G) position, this electrode utilizes a 75% argon/25% CO2 shielding gas blend.

Segmentation of Welding Equipment Market Research

• By Type:

  • Automatic
  • Semi-automatic
  • Manual

• By Application:

  • Automobiles & Transportation
  • Building & Construction
  • Marine

• By Technology:

  • Arc Welding
  • Resistance Welding
  • Oxy-fuel Welding
  • Laser-beam Welding

• By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa