USD 19.3 billion
Welding Equipment Market Size, Share, and Growth Analysis
Welding Equipment Market By Type (Automatic, Semi-Automatic, and Manual), By Technology (Arc Welding, Resistance Welding, Laser Beam Welding, Oxy-Fuel Welding, and Others), By End-Use (Aerospace, Automotive, Building & Construction, Energy, Oil & Gas, Marine, and Others), By Region -Industry Forecast 2025-2032
Report ID:
SQMIG20I2329 |
Region:
Global |
Published Date: January, 2025
Pages:
194
|Tables:
96
|Figures:
71
Format -
Welding Equipment Market Insights
Global Welding Equipment Market size was valued at USD 19.3 billion in 2023 and is poised to grow from USD 20.88 billion in 2024 to USD 39.23 billion by 2032, growing at a CAGR of 8.2% during the forecast period (2025-2032).
The wielding equipment market has witnessed considerable growth over the past years owing to the increasing need for welding equipment in a variety of industries, including shipbuilding, offshore exploration, oil & gas, aerospace, automotive, construction, and energy. The demand for welding equipment is also being fueled by consumers' preference for automated devices over manual ones. In addition, government measures focusing on urban planning and infrastructure development in various nations are predicted to further stimulate the expansion of the construction sector. Thus, the growth of the construction sector is anticipated to have a beneficial effect on the expansion of the welding equipment industry.
Implementation of multiple technologies, such as remote control and AI-based robotic welding machine make welding process easier for the operators, meeting the quality and production demands of the manufacturers. It is becoming a key welding machine market trend. This trend is likely to remain robust as a large number of emerging players are interested in investing in the development of automatic welding equipment. Increasing adoption of heavy and thick metal parts with high-tensile strength and their rising demand in construction, heavy engineering, and automotive industry are also expected to drive the demand for welding equipment over the forecast period.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Arc Weilding
Fastest Growth
Resistance Weilding
Growth Rate
8.2% CAGR
Global Welding Equipment Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Welding Equipment Market Segments Analysis
Global Welding Equipment Market is segmented by Technology, Automation Type, Application and region. Based on Technology, the market is segmented into Arc Welding, Resistance Welding, MIG/TIG Welding, Laser Beam Welding and Others. Based on Automation Type, the market is segmented into Automatic, Semi-Automatic and Manual. Based on Application, the market is segmented into Automobile, Building & Construction, Heavy Engineering, Railway & Shipbuilding and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Technology
Based on technology, the arc wielding segment is dominating the market with the largest welding equipment market share. Arc welding is the most preferred technology used in manufacturing pipelines, offshore structures, and other process equipment. Arc welding technology is widely applied for chassis parts owing to the ease of continues joining and providing high strength and rigidity of joints. Advanced arc welding technologies are also being introduced to improve productivity and efficiency. The increasing trend of weight reduction of car bodies is also driving the demand for advanced arc welding technologies. Arc welding is a versatile process that can be applied to a wide range of materials, including carbon steel, stainless steel, aluminum, and various alloys. Its versatility makes it suitable for a broad spectrum of applications across different industries. Furthermore, arc welding is often considered a cost-effective welding process. The equipment and consumables required for arc welding are relatively affordable compared to some other welding methods, making it an attractive option for many businesses.
The resistance welding technology segment is expected to witness significant demand growth during the forecast period. Resistance welding is majorly used in the automotive sector for processes such as projection welding, spot welding, and seam welding. These three types of welding processes are employed on account of their beneficial characteristics including high stability, cost-effectiveness, and low environmental impact. Rising demand for resistance welding from the automobile and transportation sectors is expected to drive the resistance welding market over the forecast period. The market is also influenced by the growing trend towards electric vehicles (EVs), where resistance welding is crucial for battery assembly and other components.
Analysis by End Use
Based on end use, the automotive segment is dominating the welding equipment market. Welding is a vital process for bodywork and auto maintenance in the automotive industry. Resistance seam welding, resistance spot welding, and metal inert gas (GMAW) are among the most extensively utilized welding processes in the automotive industry. The constantly expanding automotive industry is expected to increase the sales of welding machinery. Ongoing electrification in the global transportation sector, particularly in automobiles, along with continuous innovations and advancements in automotive technologies, is anticipated to help different environmental agencies mitigate the challenge of climate change. Increasing use of electric vehicles to reduce carbon footprint is anticipated to increase automobile sector demand, consequently boosting the welding equipment industry.
As per welding equipment market analysis, building & construction segment is experiencing tremendous growth in recent years. Rapid urbanization, population growth, and infrastructure development projects are driving demand for welding equipment in the construction sector. Welding is integral for fabricating structural components, reinforcing steel, and joining various construction materials. Additionally, as sustainable building practices gain traction, welding equipment is vital for constructing energy-efficient structures. Over the past few years, arc welding has witnessed innovation in high-power laser welding and electron-beam welding. These welding types are widely used for welding heavy and complex structures.
Global Weilding Equipment Market Analysis by Technology
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Welding Equipment Market Regional Insights
Asia Pacific is dominating with the largest welding equipment market share. The emerging manufacturing industry across China and India owing to the increasing government initiatives to support the sector development will drive the market demand in Asia Pacific. For instance, the government of India has launched the ‘Make in India' campaign to support the manufacturing industry growth. Several automotive manufacturing companies are developing their plants in the country. Also, in April 2017, Kia Motors announced an investment of approximately USD 1.1 billion to build its manufacturing plant in India. Under this campaign the plant has the capacity to produce 300,000 cars per year. Similarly, the government of China has launched ‘Made in China 2025' campaign to support the growth of manufacturing industry, providing opportunities to the welding machine market.
Europe is anticipated to witness the highest growth during the forecast period owing to the rising automotive industry in the region. According to the European Automobile Manufacturers' Association (ACEA), Europe accounted for approximately 20% of the global vehicle production. Europe is the home to several established automakers, including BMW AG, Audi AG, and Daimler AG. These players are focusing on enhancing their manufacturing capabilities to gain high market share. Welding equipment is used in the automotive industry for welding several small as well as large auto components & parts. Thus, the expanding automotive manufacturing industry in Europe will drive the welding machine market demand.
Global Weilding Equipment Market By Geography
- Largest
- Fastest
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Welding Equipment Market Dynamics
Drivers
Growing Demand Across End Use Industries
- The welding equipment, accessories, and consumables market majorly depends on the transportation, building & construction, and heavy industries. Welding is widely used in the transportation industry to manufacture various vehicle body parts. Welding products also find application in the building & construction industry, which is growing at a steady rate, especially in the emerging economies of India, China, and Brazil where new infrastructural development projects are likely to drive the welding equipment, accessories, and consumables market.
Increasing Infrastructure Development
- A significant increase in infrastructure development projects worldwide, particularly as countries focus on expanding renewable energy capacity, is driving up demand for services such as wind turbine installation. Over the forecast period, this trend is expected to benefit demand for fusing equipment. Furthermore, the increasing use of heavy thickness metal parts and advanced high-strength steels, as well as the increasing scope and scale of projects in the construction and manufacturing sectors, are expected to drive the demand for more advanced equipment. Over the forecast period, this is expected to drive demand for welding equipment.
Restraints
High Cost of Equipment and Consumables
- The cost of welding equipment, accessories, and consumables is also high due to the complex nature of the manufacturing process. Some welding techniques such as laser and plasma welding are expensive for commercial and residential customers. Sensitivity, selectivity, stability, cost, and portability are the key aspects considered by customers while purchasing such equipment. These high costs pose a restraint for the market.
Shortage of Skilled Labour
- The welding industry is highly dependent on labour. According to industry experts, there is a shortage of skilled welders across the world, and it is only getting worse as each year passes. This, coupled with the high labour cost in North America and Europe, is expected to act as a challenge for the growth of the welding equipment, accessories, and consumables market. Several infra-project contractors use welding and cutting operators from China, India, Russia, and Eastern European countries, as they face a shortage of skilled welding manpower.
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Welding Equipment Market Competitive Landscape
Market growth stage is medium, and pace of the market growth is accelerating. Welding equipment industry is characterized by a high degree of innovation owing to the rapid technological advancements. Moreover, the companies are further adopting various organic and inorganic growth strategies, such as product launches, geographical expansions, mergers & acquisitions, and collaborations, to strengthen their position in the global market. The welding equipment market is also characterized by a high level of merger and acquisition (M&A) activity by the leading players. This is due to several factors, including increasing the reach of their products in the market and enhancing the availability of their products & services in diverse geographical areas. Regulations play a pivotal role in shaping the landscape of the industry, influencing both its dynamics and evolution. Government-imposed standards and safety regulations have a direct impact on the manufacturing, sale, and usage of welding equipment. Stringent safety and environmental regulations drive innovation in welding technologies, pushing manufacturers to develop equipment that meets or exceeds compliance requirements.
Top Players in Welding Equipment Market
- Fronius International GmbH (Austria)
- Obara Corporation (Japan)
- DAIHEN Corporation (Japan)
- Illinois Tool Works Inc. (USA)
- Panasonic Corporation (Japan)
- Amada Miyachi, Inc. (Japan)
- Arcon Welding Equipment (USA)
- Miller Electric Mfg. LLC (USA)
- ESAB Corporation (USA)
- Kobe Steel, Ltd. (Japan)
- Hyundai Welding Co., Ltd. (South Korea)
- NIMAK GmbH (Germany)
- Denyo Co., Ltd. (Japan)
- Air Liquide Welding (France)
- OTC Daihen Asia Co., Ltd. (Thailand)
- Kemppi Oy (Finland)
- Victor Technologies International, Inc. (USA)
- Cloos Schweißtechnik GmbH (Germany)
- EWM AG (Germany)
Recent Developments
- Sep 2023 - ESAB introduces the Renegade Volt ES 200i, a pioneering battery-powered welding system developed with Stanley Black & Decker. Powered by four DeWalt Flexvolt 12 Ah batteries, it delivers a robust 150A stick output solely on battery power.
- In February 2023, Miller Electric Mfg. LLC launched the Copilot Collaborative Welding System in February 2023. It is a cobot with advanced capabilities intended for welders and shops new to robotic welding who are looking for solutions to keep up with demand.
- In March 2023, voestalpine Böhler Welding Group GmbH launched Böhler Welding`s Crane & Lifting Full Welding Solution. The product helped the company to achieve 50% faster welding speed.
Welding Equipment Key Market Trends
- Emergence of Advanced Welding Technologies: Techniques such as laser welding and ultrasonic welding are witnessing increased adoption, which, in turn, is propelling the welding market. These welding techniques are highly efficient and offer several advantages that make them suitable for numerous applications, which makes them increasingly popular in end-use industries where precision and accuracy of the joints are of high importance such as electric appliances, robotic appliances, and moving automotive parts.
- Growing Adoption of Industrial Automation: Industrial automation in welding equipment offers several benefits, it improves the precision and consistency of welds by eliminating human errors and variations. Automated welding systems can ensure accurate weld placements, controlled heat input, and consistent weld quality, resulting in stronger and more reliable welds. Furthermore, automation enhances productivity and reduces cycle times. Automated welding systems can operate continuously without the need for breaks, resulting in higher production rates.
Welding Equipment Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the demand for welding consumables is closely tied to infrastructure development projects, such as the construction of buildings, bridges, highways, and pipelines. As countries invest in infrastructure development, there is a growing need for welding to join and fabricate structural components. Moreover, welding is an integral part of the automotive and transportation industry for manufacturing vehicles, trailers, and components. As this industry evolves with new technologies and materials, the demand for welding consumables, including specialized ones for aluminium and high-strength steel, continues to grow. Advances in welding technology, such as the development of new welding processes, robotic welding systems, and consumable materials with improved performance, drive the market growth as industries seek more efficient and cost-effective solutions. This factor is expected to offer lucrative opportunities for the welding consumables market during the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 19.3 billion |
| Market size value in 2032 | USD 39.23 billion |
| Growth Rate | 8.2% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Welding Equipment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Welding Equipment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Welding Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Welding Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Welding Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Welding Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Welding Equipment Market Report Snapshots
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