Welding equipment includes a variety of products such as welders, welding torches, welding guns, welding robots, welding positioners and welding fume extraction equipment. Welding robots segment is witnessing high growth owing to increased automation in manufacturing processes. Robotic welding helps improve weld consistency and safety.
Welding equipment consists of machines, accessories and consumables used in the welding process. There are different welding techniques such as arc welding, resistance welding, oxy-fuel welding, laser beam welding and ultrasonic welding. Welding equipment finds applications in construction, automotive, manufacturing, shipbuilding and other industries. With increasing industrialization and infrastructure development, the demand for welding equipment is growing steadily.
The global welding equipment market is estimated to be valued at US$ 18.39 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the welding equipment market is growing adoption of robotic welding. Robotic welding helps improve accuracy and consistency of welds. It eliminates human errors and reduces variability. With advancements in robotic technology, even complex welds can be performed by robots. The automotive industry has significantly increased implementation of robotic welding cells. Other industries like shipbuilding, construction and fabrication are also increasingly adopting robotic welding. This is expected to drive the demand for welding robots during the forecast period.
Segment Analysis:
The global welding equipment market is segmented into welding method, technology, mode of distribution, end-use industry, and region. By welding method, the flux-cored arc welding segment held the largest market share in 2022 as it allows faster welding and provides better penetration and mechanical properties in welding thick plates and pipes. By technology, the arc welding segment dominated owing to its high adaptability across various industries for joining dissimilar and similar metals. The segment is further segmented into shielded metal arc welding, gas metal arc welding, flux-cored arc welding, and others.
Key Takeaways:
The Global Welding Equipment Market Demand is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing automation and infrastructure development projects across industries.
Regional analysis: Asia Pacific dominated the market in 2022 and is expected to maintain its dominance over the forecast period. This is attributed to rapid industrialization and growing construction activities in major countries such as China and India. Europe and North America are other major welding equipment markets globally.
Key players: Key players operating in the welding equipment market are Amada Miyachi, Inc., Arcon Welding Equipment, Colfax Corporation, DAIHEN Corporation, ESAB Welding & Cutting Products, Fronius International GmbH, Illinois Tool Works, Inc., Nelson Stud Welding (Doncasters Group, Ltd.), Obara Corporation, Panasonic Corporation, Rofin-Sinar Technologies, Sonics & Materials, Inc., The Lincoln Electric Company, and Voestalpine AG.
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