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Welding Equipment & Consumables Market Size - By Product (Welding Equipment, Welding Consumables), By Application (Automobile & Transportation, Building & Construction, Marine, Aerospace & Defense, Oil & Gas, Metal Working) & Forecast, 2023 - 2032.

  • Report ID: GMI2050
  • Published Date: Aug 2023
  • Report Format: PDF

Welding Equipment & Consumables Market Size

Welding Equipment & Consumables Market size is projected to exhibit around 4.5% CAGR from 2023 to 2032, driven by the rising inclination towards renewable energy sources worldwide.

 

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The surging global concerns about climate change have escalated the emphasis on renewable energy sources, such as solar, wind energy, and hydroelectric power. The incessant need for considerable infrastructure for generating, distribution, and maintenance by these sources has amplified the adoption of welding processes. Furthermore, the increasing preference for hydrogen to ensure reliable energy generation for renewables is accelerating the demand for efficient energy supply grids. The rising importance of pipelines, tankers, and hydrogen storage facilities will also drive the market growth.

Market Growth Drivers and Restraints

Technological advancements in welding equipment and consumables, such as the integration of automation, robotics, and digital solutions are anticipated to propel the market growth. The higher adoption of modern materials and techniques along with the surging focus on real-time monitoring and data analytics has led to the increasing optimization of welding processes and reduced downtime to meet the rising needs of modern manufacturing and construction. Additionally, the shortage of skilled welders may pose as a significant restraint for the Welding Equipment & Consumables market growth. 

 

COVID-19 Impact

The COVID-19 pandemic significantly impacted the market expansion due to the disruptions in supply chains, manufacturing, and construction activities leading to the temporary downturn in product demand. However, the emergence of remote work and social distancing accelerated the adoption of automated welding processes and digital solutions. The urgent need for medical equipment, including ventilators and hospital infrastructure also led to increased demand for welding solutions in the healthcare sector, positively impacting the industry growth during the outbreak.

 

Welding Equipment & Consumables Market Trends

The rapid adoption of automation and robotics in welding processes is another notable trend fueling the welding equipment & consumables market growth. Several industries are increasingly leveraging robotic welding systems to enhance efficiency, precision, and productivity. With the integration of sensors, AI, and real-time monitoring, manufacturers can optimize welding parameters and detect defects promptly. Rising technological advancements and the ongoing development in advanced equipment is likely to foster the product acceptance rate.

 

Welding Equipment & Consumables Market Analysis

The oxy-fuel segment is set to witness 4.2% growth rate through 2032, impelled by the increasing engineering activities in the industrial spectrum. Moreover, the surging efforts by industry participants on providing operator-friendly equipment to reduce the CNC controller learning curve for employees for boosted productivity and minimal training will influence the segment growth.
 

Welding equipment & consumables market from the marine segment is estimated to observe 3.5% CAGR till 2032, due to the booming international trade and commerce in shipbuilding. Welding plays a pivotal role in constructing and maintaining vessels as well as maritime structures in shipbuilding, repair, and offshore industries. The rising modernization and expansion of maritime sector, including offshore wind farms and oil and gas exploration along with the higher demand for improved welding technology will foster the segment growth.
 

North America held sizeable share of the welding equipment & consumables market in 2022 and is poised to register gains at over 4% from 2023 to 2032, attributed to the large-scale oil and shale gas extraction operations. The strong concentration on industrial automation and technical improvements in the region is encouraging the adoption of modern welding solutions for increased efficiency and precision. Furthermore, the rising number of government infrastructure investments together with the ongoing developments in welding technology will enhance the regional market outlook.

 

Welding Equipment & Consumables Market Share

The competitive landscape of the global welding equipment & consumables market includes key companies, such as:

  • DAIHEN Corporation
  • Arcon Welding
  • Doncasters Group,Ltd
  • Miller Electric
  • ESAB Group
  • Lincoln Electric Company
  • Miyachi America Corporation
  • Fronius International GmbH
  • Obara Corporation
  • Panasonic Corporation
  • Sonics & Materials,Inc
  • Voestalpine AG
  • ROFIN-SINAR Technologies
  • Kiswel,Inc
  • Senor Metals Private Limited.
     

Welding Equipment & Consumables Industry News

  • In November 2022, ESAB Corporation introduced Renegade VOLTTM ES 200i Stick/TIG battery-powered welding systems for maintenance and repair, offshore, shipyard, rail, construction, power generation, and farm/agriculture industries.
     

This market research report on welding equipment & consumables includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2018 to 2032, for the following segments:

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Market, By Product

  • Welding Equipment
    • Arc Welding
    • Resistant Welding
    • Oxy-Fuel Welding
    • Laser-Beam Welding
  • Welding Consumables
    • Stick Electrodes
    • Solid Wires
    • Flux Cored Wires
    • SAW & Fluxes

Market, By Application

  • Automobile & Transportation
  • Building & Construction
  • Marine
  • Aerospace & Defense
  • Oil & Gas
  • Metal Working

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • South Africa
    • GCC

 

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size for welding equipment & consumables is projected to expand at more than 4.5% CAGR from 2023 to 2032, attributed to the rising inclination towards renewable energies across the globe.
The oxy-fuel segment generated substantial revenue in 2022 and is set to witness over 4.2% CAGR from 2023 to 2032, attributed to the ongoing engineering activities across several industries.
North America held sizeable share of the welding equipment & consumables industry in 2022 and is poised to register 4% CAGR through 2032, owing to the large-scale oil and shale gas extraction operations in this region.
DAIHEN Corporation, Arcon, Doncasters Group, Miller Electric, ESAB Group, Lincoln Electric Company, Miyachi America Corporation, Fronius International GmbH, Obara Corporation, Panasonic Corporation, and Sonics & Materials

Welding Equipment & Consumables Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 188
  • Countries covered: 17
  • Pages: 263
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