Global Welding Market Size By Product (Welding Equipment, Welding Consumables), By Welding Process (Laser Welding, MIG Welding, Spot Welding, Arc Welding), By Application (Oil and Gas, Railway and Shipbuilding, Heavy Engineering, Building and Construction, Automobile), By Geographic Scope And Forecast
Published on: 2024-08-08 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
Global Welding Market Size By Product (Welding Equipment, Welding Consumables), By Welding Process (Laser Welding, MIG Welding, Spot Welding, Arc Welding), By Application (Oil and Gas, Railway and Shipbuilding, Heavy Engineering, Building and Construction, Automobile), By Geographic Scope And Forecast
Welding Market Size And Forecast
Welding Market size was valued at USD 19.16 Billion in 2022 and is projected to reach USD 28.95 Billion by 2030 growing at a CAGR of 5.29% from 2024 to 2030.
Owing to the availability of equipment on a rental basis promises to showcase a progressive performance for the global Welding Market during the forecasted period. Technological advancements in tools for the Welding process add to the market growth of this segment as well. The adoption of IoT, AI, and other intuitive technologies in robotic Welding solutions is a major driving factor for this segment for the projected period. The Global Welding Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Welding Market Definition
Welding refers to a fabrication process that joins materials usually metals or thermoplastics by applying high heat to melt the parts together and allowing them to cool, causing fusion. In addition to melting the base metal, a filler material is typically added to the joint to form a pool of molten material that cools for the formation of a joint based on weld configuration.
Various energy sources can be used for Welding like gas flame, electric arc, laser, electron beam, and ultrasound. Welding can be performed in different environments like open air, underwater, and in outer space as well. It is a hazardous activity that requires protective equipment to prevent any injuries or damages.
Manufacturing sectors like automotive, aerospace, shipbuilding, and machinery production all heavily rely on Welding. It is used in the fabrication of structures, the assembly of parts, and the joining of metal components. For the fabrication and joining of structural steel parts, bridges, buildings, pipelines, and other infrastructure projects, Welding is widely utilized in the construction sector. Building and maintaining pipelines, offshore platforms, storage tanks, and refineries all need Welding in the oil and gas sector. It ensures the reliability and integrity of the infrastructure.
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Global Welding Market Overview
The shortage of welders across the globe has initiated the adoption of advanced technological solutions like robots for Welding operations. These advancements contribute heavily to the market growth of the Welding Market. Due to a number of factors, such as an aging workforce, a lack of interest among younger generations in Welding jobs, and an increase in the demand for Welding services in industries like manufacturing, construction, and infrastructure, many nations are experiencing a scarcity of skilled welders. To meet the demand for Welding, there is a need for alternate alternatives as a result of this scarcity.
In comparison to manual Welding, robots and automated Welding systems offer greater production and efficiency. They are able to work nonstop, which speeds up the Welding process, increases output, and decreases production time. Due to this, companies are better able to meet project timelines and satisfy client needs. In addition to the adoption of robots, certain technological advancements in methodologies have enabled the integration of AR, IoT, and fixtureless Welding which has enabled the manufacturers to increase efficiency in operations.
These advancements add fuel to the market development of this segment for the projected period. Due to high upfront costs, the suppliers have started to offer Welding equipment on rental services through various distribution channels. This is a major driving factor for the growth and progressive performance of this market. However, the lack of availability of skilled welders at the factor floor is expected to hinder the market growth during the forecasted period.
Global Welding MarketSegmentation Analysis
The Global Welding Market is segmented based on Product, Welding Process, Application, and Geography.
Welding Market, By Product
- Welding Equipment
- Welding Consumables
Based on Product, The market is segmented into Welding Equipment And Welding Consumables. Welding equipment includes products like Welding machines, power supplies, and devices directly used to conduct the Welding process, jigs, and fixtures for the assembly of the parts to be weld. Stick electrodes, solid wires, flux-cored wires, SAW wires, and fluxes are some of the consumables used in Welding.
Welding Market, By Welding Process
- Laser Welding
- MIG Welding
- Spot Welding
- Arc Welding
- Others
Based on Welding Process, the market is segmented into Laser Welding, MIG Welding, Spot Welding, Arc Welding, And Others. Laser Welding is a process of joining together metals or thermoplastics using a laser beam to form a weld. Metal Inert Gas Welding is an arc Welding process that uses a continuous solid wire electrode heated and fed into the weld pool from a Welding gun.
Spot Welding is a resistance Welding process used primarily for Welding two or more metal sheets together by applying pressure and heat from an electric current to the weld area. Metals are melted and joined during arc Welding by creating heat using an electric arc.
Welding Market, By Application
- Oil and Gas
- Railway and Shipbuilding
- Heavy Engineering
- Building and Construction
- Automobile
- Others
Based on Application, the market is segmented into Oil and Gas, Railway and Shipbuilding, Heavy Engineering, Building and Construction, Automobile, And Others. The oil and gas industry drills oil wells and collects oil and natural gas on the surface. Equipment of these industries involves the Welding process for assistance.
Railway and shipbuilding involve the construction of locomotives and ship bodies which is done by attaching giant size metal sheets through Welding. Heavy engineering involves the perpetration of connection joints to attach fixtures and fittings. Building and construction comprise creating an infrastructure that requires Welding for implementation. Assembling various vehicle parts and attaching metal to metal requires Welding.
Welding Market, By Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Based on Geography, the Global Welding Market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounted for the largest market share in the Welding Market and is estimated to grow during the forecasted period due to the presence of regional listed as well as local manufacturers, growth in construction, and heavy engineering industries mainly in nations such as China, Japan and India. North America and Europe are anticipated to grow at a stable rate in the forecasted years due to the presence of key manufacturers functioning in this region.
Key Players
The “Global Welding Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Miller Electric Mfg. LLC, Tianjin Golden Bridge Welding Materials Group International Trading Co Ltd, Capilla, Voestalpine Böhler Edelstahl GmBH, RME Middle East, CS Holdings Co Ltd, KISWEL Co Ltd, Zulafi, ESAB, and Kobe Steel Ltd.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.
Key Developments
- In March, 2020Voestalpine Böhler Welding has completed acquisition of Selco s.r.l. as a strategic move to improve customer service and secure lucrative contracts.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Welding Market. We cover the major impacting factors driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Welding Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
REPORT ATTRIBUTES | DETAILS |
---|---|
STUDY PERIOD | 2019-2030 |
BASE YEAR | 2022 |
FORECAST PERIOD | 2024-2030 |
HISTORICAL PERIOD | 2019-2021 |
UNIT | Value (USD Billion) |
KEY COMPANIES PROFILED | Miller Electric Mfg. LLC, Tianjin Golden Bridge Welding Materials Group International Trading Co Ltd, Capilla, Voestalpine Böhler Edelstahl GmBH, RME Middle East, CS Holdings Co Ltd, KISWEL Co Ltd, Zulafi, ESAB, and Kobe Steel Ltd., among others. |
SEGMENTS COVERED | By Product, By Welding Process, By Application, By Geography. |
CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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Research Methodology of Market Research
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-m