|Market Size in 2020||Market Forecast in 2028||Compound Annual Growth Rate||Base Year Welding Equipment Market|
|USD 10,547.0 Mn||USD 15,993.9 Million||CAGR of 5.6%||2021|
Welding Equipment Market
The Global Welding Equipment Market accounted for USD 10,547.0 Million in 2020 and is expected to reach USD 15,993.9 Million by 2028, growing at a CAGR of 5.6% from 2021 to 2028.
Welding is utilized to fabricate two or more metals together. Majority of industrial products are manufactured by using the welding process Machines are used across various industries like automobile, heavy machinery, oil and gas etc. The rapid growth and demand from the developing countries like India, China, and South Korea etc. With the technological advances and safety in welding equipment market growth is pacing upward.
The demand for welding equipment in industries like ship building, railway, automobile sector etc. are growing positively. The technological progress in the laser welding and with automatic welding machines the manufacture can speed up the process.
The Global Welding Equipment Market is expected to witness a downturn in the sales of whey protein products for the short term owing to the restrictions imposed by nations in order to contain covid. The global movement was somewhat halted so the manufacture industry, shipping etc. where all not able to operate in full potential. Most of the companies operating in the Welding Equipment Market were not in operation during pandemic hence it affected the production cycle at the same time the demand for these products witnessed short downturn resulting in a disruption across the whole supply chain.
Automatic welding machines are preferred across welding industries. They are being adopted on a large scale across industries to accelerate the production process and manufacture high-quality products with low human interaction between the machine and human. Manufacturing units across industries are installing automated welding assembly lines to attain maximum speed of the welding process and yield better products.
Various industries such as automotive and aerospace, construction are slowly moving towards automatic or semi-automatic machinery. Manufacturers of welding equipment are cautiously trying to come up with new and sophisticated machinery. Research to develop welding technology and equipment that can help in welding new types of materials used across various industries.
The automatic welding equipment’s are now days being preferred for its safety and it consumes less time compared to other equipment. Manufacturers are replacing their machines to automatic for their high quality product and less human interaction.
Various industries such as automotive and aerospace, construction are slowly moving towards automatic or semi-automatic machinery. Manufacturers of welding equipment are cautiously trying to come up with new and sophisticated machinery. New welding technology’s to weld new alloys or metals are researched, to make things durable.
|Report Attributes||Report Details|
|Report Name||Welding Equipment Market Research Report|
|Market Size in 2020||USD 10,547.0 Mn|
|Market Forecast in 2028||USD 15,993.9 Million|
|Compound Annual Growth Rate||CAGR of 5.6%|
|Number of Pages||183|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Key Companies Covered||ACRO Automation Systems Inc, Air Liquide, ARCON Welding Equipment Inc, voestalpine Böhler Welding GmbH, Carl Cloos Schweisstechnik GmbH, Daihen Corporation, Illinois Tool Works Inc, Panasonic Industry Europe GmbH, Coherent-ROFIN, Fronius, Colfax|
|Segments Covered||By Technology, By Application and By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)|
|Countries Covered||North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
|Historical Year||2018 - 2022|
|Forecast Year||2023 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Automotive is the largest product segment in welding products market and accounted for a revenue share of 31.28% in 2020. Application of the welding equipment market has been classified into Automotive, Machinery Manufacturing, building & construction, aerospace & defense, and others. The ship building companies require huge quantity of metals and alloys and to weld them together.
Building and construction accounted for 20.22% of market share in 2020. This is attributable to the rapid growth and demand from the developing countries like India, China, and South Korea etc. With the technological advances and safety in welding sector market growth is pacing upward.
The APAC region held a share of 27.51% in 2020. This is attributable to the presence of top companies such as Air Liquide; ARCON Welding Equipment; voestalpine Böhler Welding GmbH. There is moderate increase in flux and filler materials to weld different metals and alloy heavy industries. The Asia pacific region has some of the largest and fastest growing economy. With increase in demand the companies are expanding to make a strong customer base.
The Europe region is projected to grow at a CAGR of 31.64% over the forecast period. This surge is due to the increasing and developing population of the area. The North American region is seeing growth in consumable items, automobile industry, housing and construction. Middle East and Africa are growing in a very moderate way due to lacking in technological advances.
Some of key players in Global Welding Equipment market are ACRO Automation Systems Inc.; Air Liquide; ARCON Welding Equipment Inc.; voestalpine Böhler Welding GmbH; Carl Cloos Schweisstechnik GmbH; Daihen Corporation; Illinois Tool Works Inc.; Panasonic Industry Europe GmbH; Coherent-ROFIN; Fronius: Colfax and amongst others.
the global Welding Equipment Market was valued at USD 10,547.0 Million in 2020.
The global Welding Equipment Market is expected to reach USD 15,993.9 Million by 2028, growing at a CAGR of 5.6% between 2021 to 2028.
Some of the key factors driving the global Welding Equipment Market growth are The rapid growth and demand from the developing countries like India, China, South Korea etc. With the technological advances and safety in welding sector market growth is pacing upward.
The APAC region held a share of 27.51% in 2020 global Welding Equipment market.
Some of the major companies operating in the global Welding Equipment market are ACRO Automation Systems Inc.; Air Liquide; ARCON Welding Equipment Inc.; voestalpine Böhler Welding GmbH; Carl Cloos Schweisstechnik GmbH; Daihen Corporation; Illinois Tool Works Inc.; Panasonic Industry Europe GmbH; Coherent-ROFIN; Fronius: Colfax and amongst others.