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Updated On: 08 April 2024

Welding Machinery Market Report Overview

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The global welding machinery market size was USD 10630 million in 2022 and is projected to touch USD 14644.18 million by 2031, exhibiting a CAGR of 3.6% during the forecast period.

The process of connecting or fusing two or more metal parts using different types of molten alloys (solder) is called welding. It is basically a fabrication process various metal parts are joined together by means of heat, pressure or both forming a join as the parts cool down. The parts that are joined are known as parent material whereas the material that is added to form the join is called filler or consumable. Welding is done with the sole purpose of connecting the materials with a strong connection. The welded joint is referred as a weldment. Welding is widely used in various industrial fields such as aerospace, ships, automobiles, containers, etc. Furthermore, welding is done with the use of welding equipment under the supervision of a weld operator.

On the other hand, welding machine is a machinery that runs on electricity which enables the worker to join two or more materials by generating lot of heat at the ends of two objects. Some of the welding machines are simple hand-held machines and quite easy to operate whereas some are complex as well as computer-controlled machines that is capable of performing many welds at the same or many welds per second. There are many types of welding machines such as arc welding machine, gas welding/cutting machine, resistance welding machine, etc.

COVID-19 Impact: Disturbance in Supply Chains Results to Market Derailment 

The global COVID-19 pandemic has been unprecedented and staggering, with the welding machinery market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

As coronavirus upsurged and caused commotion across the masses, various business and market sector had to face severe complications. Various small-scale businesses and markets were forced to shut down, to cut cost many employees were forcefully removed. Almost all the market sectors were compelled to deal with harsh consequences that arose due to the COVID-19 outbreak. Machinery and Equipment industry being one of those market sectors that had to face terrible situations. Governments all over the globe imposed lockdowns and implemented strict protocols to contain the virus and keep the public safe.  As a result, all the transportation processes as well industrial procedures were severely disrupted, leading to slow welding machinery market growth.

However, as the conditions grew better and lives went back to normal, demand for the welding equipment significantly increased and caused the welding machinery market share.

LATEST TRENDS

"Technological Advancement leads to Elevation of Market Economy"

The welding machinery market, presently, is expected to touch an impressive market rate of USD 1.3170 billion by 2028. Furthermore, with dedicated marketing strategies, business moves and strong financial backing, this market is anticipated to grow tremendously in the coming years.

The rate at which the market is getting technologically more advanced with each passing day, it is expected that the welding machinery market will receive more consumer attention and ratings worldwide. Also, the fusion of these modern technology and latest knowledge, welding machinery market will be able to stay up to date with the present trends and gain an upper hand resulting in worldwide market expansion.

Welding Machinery Market Segmentation

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• ByType

The market categorizes into Arc Welding Machine, Gas Welding/Cutting Machine, Resistance Welding Machine, Laser Welding Machine and Ultrasonic Welding Machine.

Arc welding machine is the largest part of type segment.

• By Application

The market categorizes into Automobile Industry, Shipping Industry, Equipment Manufacturing and Other.

Automobile industry is the largest part of application segment.

DRIVING FACTORS

"Rise of New Technologies to Promote Market Growth"

As new technologies are being introduced to the world, numerous markets and businesses are expected to benefit a lot from its incorporation within their current workstyle.  Likewise, the welding machinery market is highly anticipated to experience substantial rise in the market rates all because of the adoption of new technologies and hi-tech tools that will increase efficiency, security and quality of the final product. Moreover, these modern technologies are relatively very easy and simple to operate and thus, does not require any professional skillset or knowledge.

RESTRAINING FACTORS

"Shortage of Welders to Obstruct Market Growth"

Only 3% growth has been witnessed between the year 2019 and 2029 for the employment of welders. As a result, lack of welders will act as a significant obstruction for the growth of welding machinery market. Plus, installation of latest technology and gadgets in production units for better functioning is quite expensive and can’t be afforded by all.

Welding Machinery Market Regional Insights

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"Asia-Pacific to Overshadow the Market Owing to High Production Rate"

Asia-Pacific region is the largest and fastest-growing market of the welding machinery during the forecast period of 2022-28. It is certain as this region supports a massive capacity of working population who is fit to work in different segments of the market. This region has the maximum number of the prominent market players resides in this region, resulting in the highest production rates across the globe. Furthermore, having great relations as well as excellent network with rest of the world aids substantially in expanding the market.

KEY INDUSTRY PLAYERS

"Key Market Faces to Focus on Market Expansion"

All the major industry faces are anticipated to labor themselves into maximizing product awareness as well as to work in improving their products so as to increase sales and boast market development. Furthermore, latest technology will be put into action so as to produce products that are up to date with trends and demands of the consumers worldwide. In order to increase consumer attention from across the world, key industry players are highly anticipated to expand their network chains.  Not only this, but modern gadgets will be adapted in the production sector so as to boast the production rates and so that the companies can get top quality products.

List of Market Players Profiled

• Colfax (United States of America)
• Fronius (Austria)
• ITW (United States of America)
• Lincoln Electric (United States of America)
• Air Products and Chemicals (United States of America)
• American Torch Tip (United States of America)
• Arc Machines (United States of America)
• Carver Machine Works (United States of America)
• Daihen (Japan)
• Doncasters Group (United Kingdom)
• Hugong (China)
• Kobe Steel (Japan)
• Kokuho (Japan)
• NIMAK (Germany)
• Panasonic (Japan)

REPORT COVERAGE

This report guarantees to gives a detailed and concise analysis of the welding machinery market presenting all the essential market characteristics like consumer behavior, industry relations, present market trends, business patterns, etc. This report also outlays numerous restrainers, opportunities, challenges, risks, etc that the market might face or experience giving the key market players, stakeholders a good hold about scenario of the respective market.  Moreover, current as well as near future market strategies that are to be adopted and incorporated within the current workstyle are also exclusively described. In addition, this report successfully manages to brief its readers about the market segmentation done on the basis of both on region level and global level; on the basis of company, type and application during the review period of 2022-2028.