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

Report Overview

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 this equipment over the forecast period. Additionally, the shift in consumer preference from manual machines to automated machines is fueling the demand for this 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 costs 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. Also, 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 this 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, the 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.

The 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 soon as well, with a large number of companies in the market expected to invest more in the development of automatic welding equipment. However, the sluggish growth of the shipbuilding and aerospace industries in several regions in recent years is also expected to negatively impact the global demand for this equipment soon.

Welding Equipment Market Trends

Welding equipment is rapidly being utilized in industries such as marine, oil & gas, automotive, building & construction, energy, aerospace, and others. The worldwide welding equipment market is predicted to expand considerably in the future years due to increased demand for welding equipment in applications industries such as oil and gas, offshore exploration, shipbuilding, and others. Furthermore, the consistent expansion of the aforementioned industries, together with their future growth prospects, is likely to fuel the demand for welding equipment during the projection period.

Manufacturers in the industry are also working on providing new technology to assist operators and ultimately benefit them by saving firms money on training costs. New technologies, such as remote control and AI-based robotic welding machines, make the procedure even easier for the operator while also meeting the manufacturer’s quality and production needs. Increasing technological adoption and increased investment in the development of welding equipment are likely to drive welding equipment demand throughout the forecast period.

Welding equipment is critical in the automobile sector because it offers great strength in the components, resulting in maximum safety. The growing automotive sector will have a beneficial impact on the growth of the welding equipment market. This market expansion can be ascribed to the widespread use of welding equipment in the automobile industry.

Welding equipment is especially important in the construction sector since it is used to create structural frameworks from metal components. It is also used to connect steel beams, footers, trusses, and columns, as well as non-structural metal building components such as staircases, bridges, and railings. Construction activity throughout the world is expected to enhance the demand for welding equipment over the forecast period.

Significant growth in infrastructure development projects worldwide, particularly as governments focus on expanding renewable energy generation, is driving up demand for services such as wind turbine installation. This trend is projected to benefit welding equipment demand during the predicted period. Furthermore, the increasing use of large thickness metal components and advanced high-strength steels, as well as the increasing scope and size of projects in the construction and industrial sectors, would likely increase the need for more modern equipment. These aforementioned factors are anticipated to increase demand for welding equipment throughout the predicted period.

In certain regions, the aircraft and shipbuilding sectors have grown slowly in recent years. Welding is one of the most important processes used in these industries. The slow expansion of the aerospace and shipbuilding sectors is expected to impede market growth over the projected period.

Technology Insights

Based on 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. Besides, these devices provide a better welding environment as the emission of welding fumes is less as compared to other technologies.

End-use Insights

Based on 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 is 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 soon

Equipment Insights

Based on equipment, the market has been segmented into automatic, semi-automatic, and manual. The advent of welding robots for production processes in recent years has helped minimize dependency on manual labor to a notable extent in several industries. The increased adoption of such robots soon is likely to drive the automatic segment. Moreover, the 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), artificial intelligence, 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 welding equipment market was the largest, owing to increased demand for a wide range of welding equipment from the automotive, construction, heavy machinery, electronics, and transportation industries. Furthermore, significant advancements in the field of energy-efficient robotic equipment in this region have imposed severe energy-efficient rules in a variety of businesses. These aforementioned reasons are expected to drive demand for welding equipment in this area over the forecast period.

The automobile sector drives the welding equipment market in Germany. The region has a thriving investment environment, as well as infrastructure and R&D facilities. Welding equipment is utilized in the automobile industry for a broad range of applications, including frame/fender welding, exhaust system welding, and wheel welding, among others. The rising construction sector in Germany is likely to drive demand for welding equipment throughout the forecast period.

The welding equipment market in the Asia Pacific is growing at the fastest rate due to the region's developing construction industry. Furthermore, rising foreign investment in the Asia Pacific area has aided noteworthy initiatives in heavy machinery, oil and gas, and aerospace. This is projected to increase market demand throughout the forecast period.

The Chinese construction sector will benefit from infrastructure spending as part of the 14th FYP 2025. This plan addresses the growth of numerous areas, including health and education, transportation, manufacturing, and energy, among others. In the construction sector, welding equipment is used to join steel beams, footers, columns, and trusses. The expanding Chinese construction sector is likely to drive demand for welding equipment throughout the forecast period.

Key Companies & 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.

Welding Equipment Market 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 this study, Grand View Research has segmented the global welding equipment market report based on technology, equipment, end-user, 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

    • The U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

  • Middle East & Africa (MEA)