Saudi Arabia Welding Equipment Market Size & Outlook
Saudi Arabia welding equipment market, 2018-2030 (US$M)
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Saudi Arabia welding equipment market highlights
- The Saudi Arabia welding equipment market generated a revenue of USD 723.7 million in 2023 and is expected to reach USD 1,080.1 million by 2030.
- The Saudi Arabia 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.
Welding equipment market data book summary
| Market revenue in 2023 | USD 723.7 million |
| Market revenue in 2030 | USD 1,080.1 million |
| Growth rate | 5.9% (CAGR from 2023 to 2030) |
| Largest segment | Arc welding |
| Fastest growing segment | Laser Beam Welding |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Saudi Arabia accounted for 3.7% of the global welding equipment market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia welding equipment market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 1,080.1 million by 2030.
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Welding Equipment Market Scope
Welding Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia 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 71.31% in 2023. Horizon Databook has segmented the Saudi Arabia 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.
The economy of the Kingdom of Saudi Arabia (KSA) is predominately oil-based, with the government controlling the majority of the economic activities. As a result of implementing the structural reforms outlined in Vision 2030, the country is predicted to see substantial economic growth.
Multiple benefits are provided by the country including its proximity to three continents, direct free trade access to the GCC market, advantageous tax exemptions, very competitive land and energy costs, and a welldeveloped infrastructure.
Vision 2030, along with substantial expenditures in housing and infrastructure development sponsored by local governments around the nation, is revitalizing the construction industry and attracting an increasing number of multinational enterprises.
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Target buyers of Saudi Arabia 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 country-level data and insights on the Saudi Arabia welding equipment market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia welding equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia welding equipment market size, by technology, 2018-2030 (US$M)
Saudi Arabia Welding Equipment Market Outlook Share, 2023 & 2030 (US$M)
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