UK Welding Equipment Market Size & Outlook, 2023-2030
UK welding equipment market, 2018-2030 (US$M)
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UK welding equipment market highlights
- The UK welding equipment market generated a revenue of USD 616.4 million in 2023 and is expected to reach USD 783.0 million by 2030.
- The UK market is expected to grow at a CAGR of 3.5% 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 616.4 million |
| Market revenue in 2030 | USD 783.0 million |
| Growth rate | 3.5% (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, UK accounted for 3.1% 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 Europe, Germany welding equipment market is projected to lead the regional market in terms of revenue in 2030.
- France is the fastest growing regional market in Europe and is projected to reach USD 846.9 million by 2030.
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Welding Equipment Market Scope
Welding Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
UK 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 71.01% in 2023. Horizon Databook has segmented the UK 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 Society of Motor Manufacturers and Traders (SMMT) UK, automotive sector has a turnover of around USD 81.67 billion and is an important part of the economy. In the UK, about 30 manufacturers produce over 70 vehicle models, which are further supported by 2,500 component suppliers.
Eight out of every ten cars manufactured in the UK are exported to 160 different countries across the world. With such a large number of manufacturers and exports, the country's use of welding equipment is substantial as demand is directly linked to the number of vehicles produced.
According to the SMMT, UK car manufacturing decreased by 41.5% in September 2021, with 67,169 vehicles manufactured, the lowest-performing month since 1982. Thus, the prospective sluggish growth of the automotive industry in the UK is expected to negatively impact the growth of the welding equipment market over the forecast period.
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Our clientele includes a mix of welding equipment market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the UK welding equipment market , including forecasts for subscribers. This country databook contains high-level insights into UK welding equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK welding equipment market size, by technology, 2018-2030 (US$M)
UK Welding Equipment Market Outlook Share, 2023 & 2030 (US$M)
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