The global welding equipment market is anticipated to grow at a CAGR of 7.1% during the forecast period. Welding is a process of manufacturing or assembling used to join materials such as metals and thermoplastics. The process of joining metals is carried out by the fusion of intersecting materials. Advancements in welding have introduced various technologies such as shielded metal arc welding (SMAW), submerged arc welding (SAW), gas tungsten arc welding (GTAW), gas metal arc welding (GMAW), and flux-cored arc welding (FCAW). The demand for welding equipment is rising exponentially as most industrial products are manufactured using the welding process. Hence, the demand for welding equipment to carry out the welding process is rising rapidly, especially in manufacturing.

Top Driver: Robust Demand in Automotive Sectors and Advancements in Technology

The demand for quality, accuracy, and consistency is expected to fuel the robotics and automation technologies in the welding processes, especially in the automotive sector. In addition, the rapid production of lightweight vehicles will also boost the demand for welding equipment in the coming future. Other factors, such as cost-effective operations and intrinsic mechanical properties, are expected to drive the welding equipment market. The rising adoption of advanced technology among automakers and urbanization in developed countries is expected to positively impact the market.

The Arc Welding Segment is Expected to Make a Crucial Contribution to the Market 

On the basis of technology, the market is segmented into Laser Beam Welding, Arc Welding, Resistance Welding, Oxy-fuel Welding, Others. The arc welding segment accounted for larger market share owing to the increasing use of arc welding in the offshore infrastructure development activities and maintenance and repair of pipelines and nuclear facilities. On the basis of equipment, the market can be segmented into Automatic, Semi-Automatic, Manual. On the basis of end use the market is segmented into Building & Construction, Energy, Aerospace, Automotive, Oil & Gas, Marine, Others.

Rising Automobile Growth To Benefit Asia Pacific Market

Asia Pacific is anticipated to gain the largest market share in the entire globally in the near future. Additionally, there is a steep growth of the automobile and construction industries in economies countries such as China and Japan is also anticipated to help in contributing to the growth of the welding equipment market in the forecast period. Furthermore, the Middle East & and Africa is also owed to anticipated to emerge as the region which is lucrative region for the welding equipment market in the coming years.

Players to Focus on Welding Equipment Market

The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. Lincoln Electric Company, voestalpine AG, Obara Corporation, Voestalpine AG, Illinois Tool Works Inc., Colfax Corporation, and Panasonic Corporation, Amada Miyachi, Arcon Welding Equipment, Sonics and Materials, Inc., Nelson Stud Welding (Doncasters Group Ltd.), Arcon Welding Equipment, Rofin-Sinar Technologies, DAIHEN Corporation, Inc., and Fronius International GmbH among others could be at the forefront of the competition in the global market.

Lincoln Electric Holdings, Inc.: In May 2019, Lincoln Electric Holdings, Inc., announced it had entered into an agreement to purchase an additional 49.6% interest in Kaynak Tekniği Sanayi ve Ticaret A.Ş. to advance Lincoln Electric’s regional growth strategy.

voestalpine Böhler Welding: In March 2020, voestalpine Böhler Welding, a leading global company in the field of welding technology and part of the technology group voestalpine, had acquired a majority stake in the traditional Italian manufacturer for welding machines Selco s.r.l.. With this, voestalpine Böhler Welding is further expanding its market position after the successful launch of the welding machine series in its brand in June 2019.

Scope of the Report

By Technology

• Laser Beam Welding
• Arc Welding
• Resistance Welding
• Oxy-fuel Welding
• Others

By Equipment

• Automatic
• Semi-Automatic
• Manual

By End-User

• Building & Construction
• Energy
• Aerospace
• Automotive
• Oil & Gas
• Marine
• Others

By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.