Welding Products Market Size To Reach $19.94 Billion By 2030

Welding Products Market Growth & Trends

The global welding products market size is expected to reach USD 19.94 billion by 2030, registering a CAGR of 7.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rapid industrialization and growing investments in infrastructural developments in major economies such as the U.S., UK, China, India, and Brazil have propelled the market growth.

Oxy-fuel welding technology is gaining significant growth on account of its growing use in industrial manufacturing applications. The welding equipment and products used in this technology are highly cost-efficient which promotes its implementation in welding fillet, butt, and lap joints with the object thickness of up to 5mm.

The market is fragmented in nature with the presence of a number of global and regional players. Several manufacturers in the market have integrated themselves across the value chain on account of increasing opportunities and moderate growth rates. This helps the market players grab a higher market share.

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Welding Products Market Report Highlights

• ARC welding technology segment is projected to witness strong growth over the forecast period owing to its characteristics such as flexibility and the ability to perform under any conditions

• The stick electrodes product segment led the market and accounted for more than 37.0% share of the global revenue in 2023, on account of its rising demand for stick electrodes for the welding of a wide range of components in various application areas on account of their ability to increase the welding strength as well as their high corrosion resistance & tensile strength

• Asia Pacific region led the market and accounted for over 43.3% share of global revenue in 2023 owing to the robust growth of the construction and automotive industry in the region

• Governments of various economies are investing in infrastructure projects as it is the backbone of a healthy economy. The rising investments in infrastructure development are also expected to ramp up the economic recovery from the effects of COVID-19.

• The market is characterized by the presence of various small- and large-scale vendors, resulting in a moderate level of concentration in the market. Major manufacturers are focusing on their capacity expansions for developing various types of welding products

Welding Products Market Segmentation

Grand View Research has segmented the welding products market on the basis of on technology, product, end-use, and region:

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

• Arc Welding

• Resistance Welding

• Oxy-fuel Welding

• Laser Beam Welding

• Others

Welding Products Product Outlook (Revenue, USD Billion; 2018 - 2030)

• Stick Electrodes

• Solid Wires

• Flux-cored Wires

• Saw Wires And Fluxes

• Others

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

• Automotive & Transportation

• Building & Construction

• Marine

• Repair & Maintenance

Welding Products Regional Outlook (Revenue, USD Billion; 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Netherlands

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • Indonesia

• Middle East & Africa

  • Saudi Arabia

  • South Africa

• Central & South America

  • Brazil

  • Argentina

List of Key Players in the Welding Products Market

• Colfax Corporation

• Veostalpine AG

• The Lincoln Electric Company

• Illinois Tool Works, Inc.

• Hyundai Welding Co., Ltd.

• Obara Corporation

• Kiswel, Inc.

• Sandvik AB

• Tianjin Bridge Welding Materials Co., Ltd.

• Kemppi Oy

• Mitco Weld Products Pvt. Ltd.

• Senor Metals Pvt. Ltd.

• Metrode Products Ltd.

• Ador Welding Limited