Welding Equipment & Consumables Market Analysis

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.