Welding equipment is used to create joint two or more materials permanently usually metals or thermoplastics. There are different types of welding processes such as electric arcs, gas flames, electron beams, electric resistance, friction, electron beams, lasers, ultrasound, and molten metal baths. Different equipment are used in welding including welding helmets, gloves, blankets, etc., in order to withstand hazardous heat, sparks, glare, and spatter generated during welding. Moreover, welding tables and accessories are used during weld to improve efficiency and accuracy during welding tasks. On the basis of welding technique, the market is segmented as laser-beam welding, oxy-fuel welding, resistance welding, arc welding, and others. On the basis of application, the market is segmented into automobile & transportation, marine applications, building & construction, and others.
The global welding equipment market was valued at US$ 12,034.81 Mn in 2018 and is expected to grow at a CAGR of 7.9% during the forecasted period (2019-2027)
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Welding technology is an inseparable part of automobile industry with different types of welding techniques being used such as laser-beam welding, friction welding, and resistant welding. Rampant growth of automobile industry in the recent past increased the demand for welding equipment significantly. For instance, according to International Organization of Motor Vehicle Manufacturers (OICA), total global car sales were pegged at 82 million units in 2012, which increased to 95 million units in 2018. Moreover, rapid growth of construction industry, especially in emerging economies India and China is expected to drive the market growth over the forecast period. Various end-use industries such as transportation & automotive, steel structure, building & construction are witnessing lucrative growth emerging economies such as China and India, which in turn, is expected to boost the market growth over the forecast period.
Oil & and natural gas industry is the largest end-use industry of welding equipment, products, and consumables. Rapid growth of oil & gas industry is expected to drive the market growth in the near future. Different types of welding techniques are used oil & gas industry such as shielded metal arc welding (SMAW), submerged arc welding (SAW), gas metal arc welding (GMAW), and tungsten inert gas welding (TIG). Construction of new pipelines and gas manufacturing facilities coupled with increasing demand for gas pipeline is expected to increase the demand for welding equipment in the near future. Furthermore, increased offshore exploration in deep water has resulted in high investments in oilrigs. Therefore, such activities are expected to boost the market growth over the forecast period.
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Key players operating in the global welding equipment market are Amada Miyachi, Inc., Arcon Welding Equipment, Colfax Corporation, DAIHEN Corporation, ESAB Welding & Cutting Products, Fronius International GmbH, Illinois Tool Works, Inc., Nelson Stud Welding (Doncasters Group, Ltd.), Obara Corporation, Panasonic Corporation., Rofin-Sinar Technologies, Sonics & Materials, Inc., The Lincoln Electric Company, and voestalpine AG.
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