Global Welding Equipment Market By Automation Type (Automatic, Manual, and Semi-Automatic), By Technology, By End-Use Industry, By Region and Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The Global Welding Equipment Market size is expected to be worth around USD 33.4 Billion by 2032, From USD 16.8 Billion by 2023, growing at a CAGR of 7.30% during the forecast period from 2023 to 2032.

Welding equipment is the instrument that is used in welding operations across various industries. Welding is the process that is used for welding or joining two parts of materials like metals and thermoplastics. Welding equipment joins two parts of the material by intersecting them with joining metal.

Welding is done in many types, like arc welding, resistance welding, laser beam welding, oxy-fuel welding, and many other types of welding. During the welding process, various accessories are used to improve the welding efficiency and to withstand the high temperature through it.

Many companies offer welding equipment in the market with various automation types. Therefore, industries can choose from various types of automation welding equipment as needed. With increasing urbanization worldwide, the construction and building business is also growing rapidly. This is increasing the demand for welding equipment in the construction and building industry.

Moreover, the increasing automotive industry is also boosting the welding equipment market. The increasing demand for vehicles worldwide has forced the automotive industry to adopt efficient and fast welding equipment to manufacture vehicles.

Driving Factors

Rapidly Growing Automotive and Construction Industries are Driving the Growth of the Welding Equipment Market.

The rapid growth of the automotive industry over the last few years is driving the growth of the welding equipment market. The automotive industry uses welding equipment to join various parts and materials across the industry.

The manufacturing process of vehicles in the automotive industry involves welding at nearly every stage of the manufacturing process. Therefore, this massive usage of welding equipment in the automotive industry is driving the growth of the welding equipment market.

Also, the rapidly growing urbanization across the world is propelling the growth of the welding equipment market. Welding equipment plays a huge role in the construction and building industry.

The construction and building industry requires welding equipment to weld materials like metal rods and sheets to construct buildings. With the increasing construction business, the demand for welding equipment is also increasing it.

Restraining Factors

Slow Adoption of Advance Welding Technologies in Developing Countries Due to High Prices is Hindering the Growth of the Global Welding Equipment Market.

The slow adoption of advanced welding technologies from developing countries around the world is expected to obstruct the growth of the welding equipment market. Developing countries like India and China are using traditional methods and technologies for welding.

Meanwhile, developed countries like the United States and the United Kingdom are using advanced technology like laser beam and electron beam welding technologies. Advanced welding technologies like this increase the efficiency and accuracy of welding.

Still, the high price of these welding technologies is restricting industries from developing nations from adopting these welding technologies. This is restricting the growth of the global welding equipment market.

Growth Opportunities

The Emergence of Industry 4.0 is Expected to Create Many Lucrative Opportunities in the Global Welding Equipment Market Over the Forecast Period.

The emergence of Industry 4.0 has promoted the adoption of advanced welding technologies like laser beam welding and electron beam welding across various industries. With the increasing population across the world, the demand for various goods and products is also rising significantly.

This has forced companies to adopt advanced technologies in their manufacturing operations to improve efficiency and reduce time consumption. To fulfill the demand for advanced welding technologies in the market, key companies are focusing on the development of innovative welding technologies for the companies. This is expected to create many lucrative opportunities in the global welding equipment market over the forecast period.

Latest Trends

Automated Welding Solutions Like Robot Integrated Welding Machines are Propelling the Growth of the Global Welding Equipment Market.

The ongoing trend of automated welding solutions within the industries is positively impacting the growth of the welding equipment market. Various industries are using automated welding machines in their operations to increase the productivity and efficiency of manufacturing.

Also, many companies are integrating automated welding systems with robots to decrease the load on the workforce. This has significantly improved the efficiency and productivity of the companies. These key factors of automated welding equipment are fueling the growth of the global welding equipment market.

Automation Type Analysis

Automatic Welding Machines Dominate the Automation Type Segment with a Major Revenue Share in Account.

The global welding equipment market is classified into automatic, semi-automatic, and manual based on automation type. From these automation types, the automatic lead the automation type segment by accounting for a major revenue share of 55.8%. This growth of the automatic type is due to the advantages provided by the automatic type over others in competition.

The automatic welding machine offers a fast welding cycle, higher output, and low cost. All these factors are attracting industries to integrate automatic welding equipment in their industries. With the advantages of the automatic welding system, companies can increase efficiency and productivity. All these key factors are propelling the growth of the automatic welding machine.

The semi-automatic welding machines are also expected to grow significantly at a CAGR of 4.4% during the forecast period. The low cost of welding equipment, fully automated welding equipment, and high accuracy are anticipated to drive the growth of semi-automatic welding equipment in the global welding equipment market.

Technology Analysis

Arc Welding Technology Leads the Technology Segment with a Massive Share of 69.4% in Account.

Based on technology, the global welding equipment market is classified into laser beam welding, arc welding, resistance welding, oxy-fuel welding, and other technologies. Among these technologies, arc welding technology held a major revenue share of 69.4% in the global welding equipment market.

This exponential growth of arc welding technology is owing to its ability to perform in all conditions and flexibility at any location. These key factors attract most of the customers to adopt the arc welding technology integrated systems over others in competition.

After arc welding technology, the laser beam technology is expected to grow at a CAGR of 5.9% over the forecast period. The high demand for laser beam-integrated welding machines from the automotive and transportation industry is expected to boost the growth of laser beam technology during the forecast period.

End-Use Industry Analysis

Automotive Industry Leads the End-Use Industry Segment of the Global Welding Equipment Market

The global welding equipment market is classified into building and construction, automotive, oil & gas, aerospace, energy, and other end-use industries based on the end-use industry. Out of these industries, the automotive industry dominates the market by covering a major revenue share of 23.8%.

The wide applications of welding in the automotive industry are driving the growth of the automotive industry in the global welding equipment market. With the increasing population, the demand for vehicles has increased significantly in the last few years. This is positively impacting the growth of the welding equipment market.

Moreover, the wide application of welding in the construction and building industry is expected to propel the growth of the welding equipment market over the forecast period. The rising urbanization around the world in the last few years has significantly affected the welding equipment market.

Market Key Segments

Automation Type

• Automatic
• Semi-Automatic
• Manual

Technology

• Arc welding
• Laser Beam Welding
• Resistance Welding
• Oxy-Fuel Welding
• Other Technologies

End-Use Industry

• Building and Construction
• Automotive
• Oil & Gas
• Energy
• Aerospace
• Other End-Use Industries

COVID-19 Impact Analysis

COVID-19 Impacted Negatively on the Global Welding Equipment Market.

During the COVID-19 pandemic, the governments of many countries across the world have imposed stringent rules and regulations to control the spread of the virus. Due to these rules, manufacturing and transportation facilities were halted all across the world. This negatively impacted the welding equipment market.

The halted manufacturing and transportation services led to a decrease in demand for welding equipment. Many individuals postponed their plans to buy cars. This negatively affected both the automotive as well as welding equipment industries. Due to all these factors, COVID-19 negatively impacted the global welding equipment market.

Regional Analysis

Asia Pacific Leads the Global Welding Equipment Market By Accounting for Major Revenue Share

Asia Pacific region dominates the global welding equipment market by accounting for a major revenue share of 35.6%. This exponential growth of the Asia Pacific region is attributed to the robust automotive industry in the region.

With the increasing population in the Asia Pacific region, the demand for electric and hybrid vehicles is also rising. Therefore, companies are adopting automated welding equipment’s in their companies to meet consumer demand in the market.

Moreover, the rising preference for vehicle customization is also boosting the welding equipment industry in the region. Many individuals prefer to customize their vehicles with various changes. This requires a lot of welding work in the vehicles to make the custom changes. All these factors are propelling the growth of the welding equipment market in the Asia Pacific region.

Europe region is also anticipated to grow significantly during the forecast period. Europe is the world’s largest automobile manufacturing region. This is driving the growth of the welding equipment market in the Europe region.

In addition, the major companies in the automotive industry of Europe are expanding their operations across the region. This is expected to boost the welding equipment market in the region over the forecast period.

Key Regions and Countries Covered in this Report

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Market Share and Key Player Analysis

The key players in the global welding equipment market are focusing on adopting various strategies like mergers, acquisitions, collaboration, new product development, and partnerships to expand the market share across various industries and different regions.

Market Key Players

• ACRO Automation Systems Inc
• Lincoln Electric
• AIR LIQUIDE
• voestalpine Böhler Welding Group GmbH
• Carl Cloos Schweisstechnik GmbH
• OTC DAIHEN Inc.
• Panasonic Industry Co. Ltd.
• Polysoude S.A.S.
• Coherent Inc.
• Illinois Tool Works Inc.
• Other Key Players

Recent Developments

• In October 2022, Lincoln Electric Holdings Inc. announced the acquisition of Fori Automation Inc. This acquisition aims to increase the global reach of automation growth.
• In October 2022, Kemppi launched its new X5 FastMig Pulse welding system. This welding system was specifically built for industrial use.

Report Scope