Welding Equipment Market By Type (Arc welding, Resistance spot welding, Other), By Technology (Automatic, Manual), By End user industry (Automotive, Construction, Heavy engineering, Other): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global welding equipment market size was valued at $8,303.4 million in 2021 and is projected to reach $13,888.1 million by 2031, registering a CAGR of 5.1% from 2022 to 2031. A welding equipment is a type of metal fabricating equipment, which uses heat, pressure, or both to join two or more metal components.
Welding equipment is a powerful tool that uses electricity to fuse two or more metal components. Welding can be done manually or automatically with the help of robots. Manual welding offers various advantages such as greater flexibility and cost efficiency, whereas robotic welding is precise and it is used for applications with low error tolerance.
According to International Energy Agency, India had approximately 25 vehicles per thousand people as of 2020, and the number is expected to cross 150 vehicles per thousand people by the year 2040. Moreover, welding equipment are extensively used in automobile industry to fabricate various components such as chassis, transmission components, and bodywork. Furthermore, welding is used in the aftersales services of automotives. Thus, rise in automobile sales is anticipated to drive the growth of welding equipment market.
According to the World Bank, the world population is expected to reach above 9 billion in 2050, from around 7 billion in 2020. This increase in population is anticipated to fuel the demand for housing and public infrastructure, thereby, increasing the use of welding equipment as they are extensively used for various construction activities such as joining steel reinforcements, fabricating external window grills, fabricating metal doors, and building steel structures. Thus, the growth of construction industry positively influences the welding equipment industry.
The welding equipment market is segmented into type, operation, and end-user industry, and region. By type, the market is categorized into arc welding, resistance welding, and other. On the basis of operation, it is bifurcated into manual and automatic. By end-user industry, the market is classified into automotive, construction, heavy engineering, and other. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the welding equipment market analysis from 2021 to 2031 to identify the prevailing welding equipment market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the welding equipment market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global welding equipment market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy TypeArc welding
Resistance spot welding
Other
By TechnologyAutomatic
Manual
By End user industryAutomotive
Construction
Heavy engineering
Other
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Coherent, Inc.
Fanuc
Illinois Tool Works Inc.
Panasonic Industry Co., Ltd.
The Lincoln Electric Company
ESAB
ACRO Automation Systems, Inc.
kemppi Oy
Carl Cloos Schweisstechnik GmbH
Cruxweld Industrial Equipments Pvt. Ltd.
Please Note: It will take 7-10 business days to complete the report upon order confirmation.