Global Welding Machinery Market to Reach $17.1 Billion by 2026

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Apr 18, 2022, 07:45 ET

SAN FRANCISCO , April 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Welding Machinery - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Global Welding Machinery Market to Reach $17.1 Billion by 2026

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Edition: 19; Released: March 2022
Executive Pool: 4697
Companies: 382 - Players covered include ACRO Automation Systems, Inc.; Carl Cloos Schweisstechnik GmbH; Coherent, Inc.; Daihen Corporation; Denyo Co., Ltd.; ESAB; Fronius International GmbH; IDEAL-Werk; IGM Robotersysteme AG; Illinois Tool Works, Inc.; Hobart Brothers LLC; Miller Electric Mfg. LLC; Kemppi Oy; Kiefel GmbH; Kobe Steel, Ltd.; KUKA AG; Manufacturing Technology, Inc.; Panasonic Corporation; Sonics & Materials, Inc.; The Lincoln Electric Company; Tianjin Bridge Welding Materials Group Co., Ltd.; voestalpine Böhler Welding Group GmbH and Others.
Coverage: All major geographies and key segments
Segments: Product Type (Arc Welding, Oxy-Fuel Welding, Resistance Welding, Laser Beam Welding, Other Product Types); Type (Automatic, Semi-Automatic, Manual); End-Use (Automotive, Building & Construction, Aerospace, Energy, Oil & Gas, Marine, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.

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ABSTRACT-

Global Welding Machinery Market to Reach US$17.1 Billion by the Year 2026
Modern welding techniques find use in a wide range of applications extending from a small garage to the aerospace industry. Fabrication of ships, bridges and buildings, manufacture of farm equipment, automobiles, mining equipment, home appliances, and earth moving equipment use various types of welding processes. Energy, infrastructure, automobiles, construction and ship-building industries are the major end-users of welding machinery. Infrastructure projects such as power, ports, road networks, railroads and modernization of existing facilities are major growth drivers for the welding industry. Future Prospects remain brighter for welding machinery, as construction, infrastructure, energy, oil & gas, wind power and various other sectors are set to witness significant growth in spending. Besides, better prospects for future economic growth in various markets worldwide, including the renaissance in those currently sliding down, are expected to drive investments and therefore propel demand for welding machinery during the review period. The global population is projected to rise at an exponential rate and exceed the 9 billion-mark by 2050. The subsequent rise in demand for housing, potable water, energy and other infrastructure including bridges and harbors is expected to drive demand for welding equipment. Product innovations, advances in manufacturing process as well as technological improvements are all factors expected to positively influence the global welding equipment market. Laser sources, beam delivery and work management are some of the technical areas that are witnessing significant advancements and are increasingly finding place in new machinery models.

Amid the COVID-19 crisis, the global market for Welding Machinery estimated at US$13 Billion in the year 2022, is projected to reach a revised size of US$17.1 Billion by 2026, growing at a CAGR of 6.8% over the analysis period. Arc Welding, one of the segments analyzed in the report, is projected to grow at a 7.6% CAGR to reach US$7.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Oxy-Fuel Welding segment is readjusted to a revised 6% CAGR for the next 7-year period. This segment currently accounts for a 27.2% share of the global Welding Machinery market. Worldwide arc welding machinery market is expected to grow led by increased demand from emerging markets, and the growing consumption in various end-use markets. In particular, the energy sector, which was among the few markets to be minimally impacted by the financial crisis, contributed considerably to the market's growth. Arc welding is used for maintaining and repairing LNG (Liquefied Natural Gas) tanks, nuclear facilities, wind turbine installations and pipelines. Growth is also fueled by increased usage in the transportation, automotive, infrastructure and construction industries; and the rapid industrialization of developing countries. The market is also expected to benefit from the emergence of newer technologies such as energy saving equipment and corrosion-resistant filler metals, and the continuous rise in foreign directs investments.

The U.S. Market is Estimated at $3.2 Billion in 2022, While China is Forecast to Reach $3.3 Billion by 2026
The Welding Machinery market in the U.S. is estimated at US$3.2 Billion in the year 2022. The country currently accounts for a 24.95% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$3.3 Billion in the year 2026 trailing a CAGR of 8.9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.6% and 5.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.5% CAGR while Rest of European market (as defined in the study) will reach US$569.4 Million by the end of the analysis period. The market for welding equipment is mature in developed nations which are home to an already well established infrastructure. Demand in these nations is predominantly driven by infrastructure rehabilitation and maintenance programs. For instance, the UK is contemplating a national plan for upgrading infrastructure as the government hopes to fund its ambitious plans to improve railroad, energy and airport infrastructure. France has also been expanding its high-speed rail system to improve connectivity across the nation. The US also offers prospects for welding equipment as most of its infrastructure is dated and requires upgrading or remodeling. The Middle East nations, set to transform their energy-based economies into trading hubs, also offer opportunities for welding equipment.

Resistance Welding Segment to Reach $2.8 Billion by 2026
Resistance welding machinery market has evolved considerably over the years. Currently, available power supplies are much more accurate and efficient compared to older generation power supplies. Manufacturers also developed weld programmers-devices, which execute and store weld programs. These devices automate welding process and consequently reduce scrap parts. In the global Resistance Welding segment, USA, Canada, Japan, China and Europe will drive the 5.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.4 Billion will reach a projected size of US$2.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.7 Billion by the year 2026, while Latin America will expand at a 7.6% CAGR through the analysis period.
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