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.

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.

Welding Equipment & Consumables Market size is projected to record 4.5% CAGR from 2023-2032 driven by the surge in demand for energy-efficient and eco-friendly welding solutions. With environmental sustainability gaining traction, industries are increasingly adopting green welding practices to reduce carbon footprint and operational costs.

The development of advanced welding technologies, such as laser and plasma welding, is also fostering the adoption of energy-efficient methods. For instance, in February 2023, Newtec exhibited its LASER FLOWPACK700 laser welding equipment for ultra-thin films to render cost-effective benefits while meeting the EU-2025 plastic requirements. Moreover, the rising awareness about the environmental impacts of traditional welding processes is leading to the innovation of eco-friendly consumables and equipment that align with stringent regulatory norms, further contributing to the industry growth.

The welding equipment & consumables industry is segmented into product, application, and region.

With respect to product, the market share from the welding equipment segment is projected to witness traction during 2023-2032 owing to the thriving technological advancements and industrial automation. The integration of cutting-edge features, such as IoT, robotics, and advanced power sources is enhancing the efficiency and precision of welding processes. Moreover, several manufacturers are focusing on the development of portable, energy-efficient, and cost-effective solutions, further fueling the segment growth. For instance, in February 2023, Kemppi launched two new portable and flexible MIG/MAG welding machines to cater to uses in industrial welding at shipyards and repair shops, as well as dedicated hobby welders.

Welding equipment & consumables industry size from the automobile and transportation application segment is set to record robust growth through 2032. With automotive manufacturers increasingly prioritizing lightweight and high-strength materials, the need for advanced welding technologies is intensifying. Furthermore, the growing prominence of electric vehicles along with the surging need for specialized welding tools for catering to battery assembly and lightweight chassis construction will drive the segment expansion.

Regionally, the Asia Pacific welding equipment & consumables industry is anticipated to exhibit robust growth from 2023-2032 propelled by the burgeoning industrialization and infrastructure development in the region. Furthermore, the rising technological advancements, the surging number of government initiatives for promoting industrial growth, and the increasing efforts by manufacturers to attract foreign investments will augment the market outlook. For instance, in September 2023, India-based Ador Welding Limited exhibited its products at the Schweissen & Schneiden International Trade Fair 2023 in Germany to demonstrate its dedication for welding technology and promoting sustainable future for the industry.