Global welding equipment market is expected to witness lucrative growth over the forecast period owing to growing demand for numerous application including offshore exploration, shipbuilding, oil & gas, automotive, aerospace, construction, and energy. Also, the shift of trend from manual machine to automated machine is anticipated to fuel the demand of the market. The product supports various non-metallic and metallic components in numerous manufacturing industries and offers an efficient method for fusing materials which in turn is expected to stimulate the industry growth.
Mounting infrastructure projects including wind turbine installations is a key factor contributing to the rapid increase of the welding machinery sector. Further, improvement in the construction and manufacturing areas impels the need for more advanced equipment, further fuelling market growth. Also, the constant necessity of maintaining & repairing the existing applications across various industries may further spur the product market demand over the next few years. Also, rising standards of living coupled with increasing spending on nutrition will benefit the food and packaging machinery sectors, thus fuelling the market expansion. Further, escalating need for cars globally will fuel the need for spending more on tools and robotics in the automotive business, subsequently driving the industry demand. However, there may be a huge demand breakdown for the equipment in case of production cut downs of heavy & light automotive, owing to relatively low demand and high consumers' confidence.
Tremendous shifts towards automatic welding from the manual machinery is a key challenge observed by welding machinery market in last few years. Rising shortage of trained labor, particularly in the advanced countries is compelling manufacturers to take new paces in sophisticated automation world. Also, an advent of welding robot for production processes minimizes dependency on manual labor and thus drives demand for the equipment. Furthermore, employment of costly labor in developed countries increases manufacturing costs, owing to which companies are propelled to adopt industrial robotics, further stimulating encourage development. Also, the invention of laser systems, Computer Aided Design (CAD) and manufacturing systems may open new avenues for the product adoption globally. Furthermore, advancements and innovations in beam delivery, work management, and laser sources are being incorporated for use in wide range of welding solutions, ultimately fuelling the demand of the sector. Thus, the rising need for automation is expected as one of the foremost trends propelling the equipment sector development over the next few years.
However, gradual adoption of enhanced technologies in developing nations may hinder product growth in next few years. Further, price concerns make end-users reluctant to adopt technologically advanced solutions, which may pose a significant challenge for the market. Additionally, a slowdown in shipbuilding and aerospace industries may hamper market augmentation.
By product segment, equipment sector can be classified as arc, gas & cutting, resistance, laser, ultrasonic machinery and electrodes welding. However, plasma & arc welding machinery is projected to capture highest market share due to the maintained demand from the global energy industry. The widespread usage of arc welding in the maintenance and repair of nuclear facilities, Liquefied Natural Gas (LNG) tanks, wind turbine installations, and pipelines drives demand of the equipment. However, even laser welding machinery is expected to gain eminence over the next few years on account of its adoption in new end-use and heavy manufacturing industries such as railways, shipbuilding, and steel production.
The European industry is anticipated to dominate the industry closely followed by the U.S. and Asia Pacific, which is attributed to rising demand from European automotive, transportation, electronics, heavy machinery, and construction industries. Also, a remarkable development in energy efficiency which robotic equipment delivers is anticipated to stimulate the product demand in Europe and North America. Also, significant government investments in the U.S. is expected to fuel the industry growth over the forecast period.
The key participants operating in the industry include Daihen Corporation, Air Liquide SA, Bohler Thyssen Welding USA Inc., Panasonic Welding Systems Co. Ltd., Rofin-Sinar Technologies Inc., ARCON Welding, LLC, Carl Cloos Schweisstechnik GmbH, ACRO Automation Systems, Illinois Tool Works Inc., Banner Welder Inc. and Lincoln Electric Holdings Inc.
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