Welding Equipment Market Size, Share And Trends Analysis Report By Technology (Arc Welding, Resistance Welding), By Equipment, By End-use, By Region, And Segment Forecasts, 2019 - 2025

Industry Insights

The global welding equipment market size was valued at USD 11.53 billion in 2018 and is expected to register a CAGR of 6.9% from 2019 to 2025. The market has witnessed considerable growth over the past years owing to the growing demand for welding equipment across applications such as shipbuilding, offshore exploration, oil & gas, aerospace, automotive, construction, and energy. The steady expansion of these industries in the past few years, coupled with their promising future growth prospects, is expected to continue to drive the overall demand for these equipment over the forecast period. Additionally, the shift in consumer preference from manual machines to automated machines is fueling the demand for these equipment.

Manufacturers are focusing on introducing technologically advanced products to improve safety, quality, and productivity across industries. They are also focusing on developing technologies that would help train operators and save training cost for companies. This is further expected to boost the growth of the welding equipment market over the forecast period.

Most types of welding equipment available in the market support a variety of non-metallic and metallic parts in various manufacturing industries, offering an efficient method for fusing materials. Technological advancements and the increased use of advanced equipment in the construction and manufacturing sectors globally is likely to drive the demand for welding equipment. In addition, the constant need for maintenance and repair of existing applications to ensure efficient operations across various end-use industries could further propel the demand for these equipment over the forecast period.

A notable rise in infrastructure development projects globally, especially as countries focus on the expansion of renewable energy capacity, is leading to an increased demand for services such as wind turbine installation. This trend is expected to work well for the demand for fusing equipment over the forecast period. Furthermore, growing adoption of heavy thickness metal parts and advanced high-strength steels and the rising scope and scale of projects in the construction and manufacturing sectors are likely to drive the need for more advanced equipment. This is expected to drive the demand for welding equipment over the forecast period.

Development of remote control technology, which makes the fusing process safer for operators and also helps meet quality and production demands efficiently is a key emerging trend in the market. Rising shortage of trained labor, particularly in advanced countries, is compelling manufacturers to take up automation as a way of making up for the shortage in their resource pools. This trend is likely to remain strong in the near future as well, with a large number of companies in the market expected to invest more on the development of automatic welding equipment. However, the sluggish growth of the shipbuilding and aerospace industries in several regions in the recent years is also expected to negatively impact the global demand for these equipment in the near future.

Technology Insights

On the basis of technology, the market has been segmented into arc welding, resistance welding, oxy-fuel welding, laser beam welding, and others. The arc welding segment is expected to dominate the market over the forecast period. The growth of the segment can be attributed to the increasing use of arc welding in offshore infrastructure development activities and the maintenance and repair of pipelines, process equipment, and nuclear facilities.

The increasing number of government initiatives to expand manufacturing facilities by encouraging foreign investment in developing countries such as Myanmar, India, and Indonesia is expected to drive the demand for arc welding segment over the forecast period. Other factors expected to positively influence the demand for the arc welding technology are the affordable prices of arc welding equipment and the fact that they are easy to transport. In addition, these devices provide a better welding environment as the emission of welding fumes is less as compared to other technologies.

End-use Insights

On the basis of end-use, the market is segmented into aerospace, automotive, building & construction, energy, oil & gas, marine, and others. The automotive end-use segment dominated the market in 2018. The steadily rising demand for cars globally is expected to fuel the need for tools and robotics in the automotive industry. This is subsequently driving the demand for welding equipment over the forecast period.

Furthermore, advancements in the field of robotics have led to the increased use of robots in the automotive industry for fusing processes. The vast benefits of robots in improving process efficiency, increasing productivity, enhancing quality, and minimizing scrap are expected to continue to drive their demand in the automotive industry, thus driving the automotive segment. Welding equipment are also essential for the construction industry as welding plays an important part in the construction of bridges, buildings, offshore oil and gas rigs, and pipelines. Thus, the promising rise in construction activities across the globe is expected to drive the demand for fusing equipment in the construction segment in the near future

Equipment Insights

On the basis of equipment, the market has been segmented into automatic, semi-automatic, and manual. The advent of welding robots for production processes in the recent years has helped minimize dependency on manual labor to a notable extent in several industries. The increased adoption of such robots in the near future is likely to drive the automatic segment. Moreover, employment of costly labor increases manufacturing costs, owing to which companies are encouraged to adopt industrial robots. This is further expected to boost the growth of the automatic welding equipment segment.

Moreover, the development of smarter and more efficient robotic welding systems due to the introduction of technologies such as Computer Aided Design (CAD), AI, and remote control is expected to unfold new opportunities for automatic welding products globally. Various industries such as automotive, building & construction, and oil & gas across the globe are adopting automatic welding equipment to speed up the process of fusing and imparting better finish and precision to welds. The segment is likely to continue to hold the dominant share in the market over the forecast period.

Regional Insights

The European market accounted for the highest revenue share in 2018 and had a market size of USD 3,405.2 million. The growth of the region can be attributed to rising demand for a variety of welding equipment from automotive, electronics, transportation, heavy machinery, and construction industries. Moreover, vast developments in the field of energy-efficient robotic equipment over the years have worked well for the market in Europe as several countries have levied stringent energy-efficiency regulations upon several industries.

The Asia Pacific regional market is projected to witness significant growth over the forecast period, chiefly benefitting from the increasing number of construction activities in the region. Moreover, increasing foreign investments in the Asia Pacific region have contributed to a notable rise in projects in industries such as aerospace, oil & gas sector, and heavy machinery. This scenario is also expected to drive the regional market.

Welding Equipment Market Share Insights

Key players in the market include ACRO Automation Systems Inc., Air Liquide, ARCON Welding Equipment, Banner Welding Inc., voestalpine Böhler Welding GmbH, Carl Cloos Schweisstechnik GmbH, Daihen Corporation, Illinois Tool Works Inc., Panasonic Industry Europe GmbH, and Coherent-ROFIN. The manufacturers in the global market are adopting strategies such as mergers & acquisitions, new product/solution development, and collaborations to stay abreast of competitors.

Companies in the market are focusing to maintain their market position through partnerships and collaborations. For instance, in May 2017, ACRO Automation Systems Inc partnered with Autis Engineering for the creation of an automatic inspection station for MIG welds. Moreover, market players are emphasizing on collaborating with companies to offer robotic welding equipment.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 - 2025. For the purpose of this study, Grand View Research has segmented the global welding equipment market report on the basis of technology, equipment, end-use, and region:

• Technology Outlook (Revenue, USD Million, 2014 - 2025)

  • Arc Welding

  • Resistance Welding

  • Oxy-fuel Welding

  • Laser Beam Welding

  • Others

• Equipment Outlook (Revenue, USD Million, 2014 - 2025)

  • Automatic

  • Semi-Automatic

  • Manual

• End-use Outlook (Revenue, USD Million, 2014 - 2025)

  • Aerospace

  • Automotive

  • Building & Construction

  • Energy

  • Oil & Gas

  • Marine

  • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

  • Middle East & Africa (MEA)