Asia Pacific Welding Equipment Market Size & Outlook
Asia Pacific welding equipment market, 2018-2030 (US$M)
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Asia Pacific welding equipment market highlights
- The Asia Pacific welding equipment market generated a revenue of USD 7,174.3 million in 2023.
- The market is expected to grow at a CAGR of 5.9% from 2024 to 2030.
- In terms of segment, arc welding was the largest revenue generating technology in 2023.
- Laser Beam Welding is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 7,174.3 million |
| Market revenue in 2030 | USD 10,705.9 million |
| Growth rate | 5.9% (CAGR from 2023 to 2030) |
| Largest segment | Arc welding |
| Fastest growing segment | Laser Beam Welding |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Arc Welding, Resistance Welding, Laser Beam Welding, Oxy-Fuel Welding, Other Technology |
| Key market players worldwide | Lincoln Electric Holdings Inc, ACRO AUTOMATION SYSTEMS, INC., Illinois Tool Works Inc, Voestalpine AG, Carl Cloos Schweisstechnik, OTC DAIHEN, Panasonic Industry, ESAB Corp, Coherent Corp, Ador Welding, Mitco Global, POLYSOUDE, Kemppi |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 36.4% of the global welding equipment market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 10,705.9 million by 2030.
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Welding Equipment Market Scope
Welding Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific welding equipment market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to welding equipment market will help companies and investors design strategic landscapes.
Arc welding was the largest segment with a revenue share of 71.05% in 2023. Horizon Databook has segmented the Asia Pacific welding equipment market based on arc welding, resistance welding, laser beam welding, oxy-fuel welding, other technology covering the revenue growth of each sub-segment from 2018 to 2030.
According to the World Bank, Asia Pacific is the fastest-growing region in terms of both population and economic growth. Rapid urbanization, increased investments by governments, and rising consumer spending have boosted the Asian economy, thereby propelling infrastructure development in the construction industry.
Emerging economies such as China, India, and Japan are the key countries driving the development of the oil & gas, automotive, aviation, and building & construction industries in this region.
The competition among Chinese capital markets and a few other Asian economies is generating lucrative growth opportunities for the construction industry, which has, in turn, created a favorable environment for investments in the welding equipment sector.
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Target buyers of Asia Pacific welding equipment market databook
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Our clientele includes a mix of welding equipment market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific welding equipment market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific welding equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific welding equipment market size, by country, 2018-2030 (US$M)
Asia Pacific Welding Equipment Market Outlook Share, 2023 & 2030 (US$M)
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