Welding Equipment Market Size To Reach $27.77 Billion By 2030

Welding Equipment Market Growth & Trends

The global welding equipment market is anticipated to reach USD 27.77 billion by 2030 and is anticipated to expand at a CAGR of 5.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. The demand for welding equipment is fueled by growing consumer preference for automated devices such as robotic welding equipment and laser welding techniques in comparison to manual ones. The majority of the demand for welding equipment is associated with end-use industries such as automotive, aerospace, transportation, and construction, which are also experiencing operational difficulties owing to macro-economic factors.

According to HIS Markit, new vehicle sales accounted for 82.4 million globally in 2022, which is up by 3.7% in 2021. The continually increasing demand for automobiles worldwide is anticipated to increase the demand for tools and robots in the automotive industry. This, in turn, is expected to boost the demand for welding equipment over the projected period.

Heavy industries, building & construction, and transportation are among the important end-use industries of welding equipment. In the transportation sector, welding equipment is commonly utilized to fabricate various vehicle body components. According to the Organisation Internationale des Constructeurs d’Automobiles (OICA), in 2022, the worldwide output of vehicles was 81,628,533 units. Innovations and technical advancements, such as automation, robotics, IIoT, and others, in the automotive sector to meet rising customer demand are anticipated to increase the demand for welding equipment. In addition, the increasing sales of electric vehicles are expected to further propel the adoption of the welding equipment industry in the coming years.

The rise in construction activities globally, coupled with swift urbanization in developing nations like China, India, Brazil, and those in the Middle East and Africa, is poised to propel the expansion of the construction sector. Increased disposable incomes and enhanced consumer spending capabilities are expected to drive investment in new building construction. Furthermore, government initiatives emphasizing urban planning and infrastructure development in multiple countries are likely to provide additional momentum to the growth of the construction sector. Consequently, the positive trajectory of the construction industry is anticipated to have a favorable impact on the expansion of the market.

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Welding Equipment Market Report Highlights

• In 2023, automatic welding equipment dominated the global market, accounting for 56.4% of the total revenue share. This dominance is attributed to its capacity to enhance productivity, reduce cycle duration, and improve efficiency in welding processes. The widespread adoption of automatic welding equipment on a global scale has surged in recent years, driven by its ability to achieve rapid weld cycle times, deliver high output, and substantially lower welding costs

• In 2023, the arc welding technology segment held the largest share of the global revenue in 2023. The growing prevalence of arc welding technology can be attributed to its inherent characteristics, including flexibility and adaptability to diverse conditions. Notably, continuous advancements in robotic arc welding play a pivotal role in propelling the growth of the arc welding segment within the welding equipment market

• The aerospace end-use segment is projected to witness growth at the fastest CAGR from 2024 to 2030 owing to the growing applications in aerospace manufacturing, including heating elements, circuit board traces, electronic components, actuators, fine ribbon welding, inductors, mesh welding, and hybrid micro-weld devices

• Asia Pacific dominated the global market on account of the robust automotive industry. Increasing demand for electric and hybrid cars is expected to benefit the demand for welding equipment

• In February 2023, Miller Electric Mfg. LLC launched the miller Deltaweld 852, Deltaweld 402, Deltaweld 602, welding machines in Southeast Asia. These machines specifically cater

Welding Equipment Market Segmentation

Grand View Research has segmented the welding equipment market based on technology, type, end-use and region:

Welding Equipment Technology Outlook (Revenue, USD Billion; 2018 - 2030)

• Arc Welding

  • Shielded Metal/Stick Arc Welding

  • MIG

  • TIG

  • Plasma Arc Welding

  • Others

• Resistance Welding

• Laser Beam Welding

• Oxy-Fuel Welding

• Others

Welding Equipment Type Outlook (Revenue, USD Billion; 2018 - 2030)

• Automatic

• Semi-Automatic

• Manual

Welding Equipment End-use Outlook (Revenue, USD Billion; 2018 - 2030)

• Aerospace

• Automotive

• Building & Construction

• Energy

• Oil & Gas

• Marine

• Others

Welding Equipment Region Outlook (Revenue, USD Billion; 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

List of Key Players in the Welding Equipment Market

• The Lincoln Electric Company

• ACRO Automation Systems, Inc

• Miller Electric Mfg. LLC

• Ador Welding Limited

• Mitco Weld Products Pvt. Ltd.

• voestalpine Böhler Welding Group GmbH

• Carl Cloos Schweisstechnik GmbH

• OTC DAIHEN Inc.

• Illinois Tool Works Inc.

• Panasonic Industry Co., Ltd.

• Coherent, Inc.

• ESAB

• Polysoude S.A.S.

• Kemppi Oy.

• Cruxweld Industrial Equipments Pvt. Ltd.