Welding Machinery Market

Welding Machinery Market Outlook (2022-2032)

The global welding machinery market is projected to expand at a CAGR of 6.7% and touch a valuation of US$ 25 billion by 2032, up from US$ 13 billion in 2022.

Welding is a manufacturing or assembly procedure that is used to combine metals and thermoplastics. Common welding processes include gas tungsten arc welding (GTAW), shielded metal arc welding (SMAW), submerged arc welding (SAW), flux-cored arc welding (FCAW), and gas metal arc welding (GMAW).

Welding procedures are used to make the vast majority of industrial items. Consequently, the global need for welding equipment to carry out the welding process is surging. However, the usage of new materials in numerous industries has necessitated the development of cutting-edge welding techniques. As a result, manufacturers are concentrating on creating new welding machines and equipment to satisfy the rising demand and address the need for timely product development.

New technologies, such as remote control and AI-based welding robots, make the process even easier for the operator while simultaneously meeting the quality and production requirements of the manufacturer. Welding equipment is increasingly being used in industries such as oil and gas, marine, automotive, energy, aerospace, and building and construction.

Welding equipment is critical in the construction industry since it is used to form structural frameworks out of metal components. Welding equipment is used to connect footers, steel beams, columns, trusses, and non-structural metal building components such as bridges, railings, and staircases. The booming construction industry is predicted to increase the demand for welding equipment.

• As per data published by the United States Commerce Department, construction investment in the United States increased by 1.9% in 2021. Moreover, as per Census Bureau estimates, roughly 1,760,000 new house permits were issued in the United States in April 2021.
• As per an IBEF study, the Indian real estate sector is estimated to be worth US$ 650 billion by 2025.

Massive expansion in infrastructure development projects around the world, especially as governments concentrate on growing renewable energy output, is raising the demand for services like wind turbine installation. Such factors are expected to boost the demand for welding equipment.

Additionally, the growing use of large-thickness metal parts and advanced high-strength steels, as well as the rising scope and size of projects in the industrial and construction sectors, is projected to spur the demand for more modern welding machinery.

Report Attributes	Details
Welding Machinery Market Size (2022)	US$ 13 Billion
Projected Market Value (2032)	US$ 25 Billion
Global Market Growth Rate (2022-2032)	6.7% CAGR
Asia Pacific Market Share (2021)	35.4%
U.S. Market Value (2021)	US$ 2.9 Billion
Key Companies Profiled	Fronius International GmbH ACRO Automation Systems, Inc Sonics & Materials, Inc Hobart Brothers LLC Carl Cloos Schweisstechnik GmbH Miller Electric Mfg. LLC Coherent, Inc Panasonic Corporation Daihen Corporation Denyo Co., Ltd ESAB IDEAL-Werk KUKA AG IGM Robotersysteme AG Kobe Steel, Ltd Tianjin Bridge Welding Materials Group Co., Ltd Illinois Tool Works, Inc The Lincoln Electric Company Kemppi Oy Kiefel GmbH Voestalpine Böhler Welding Group GmbH Manufacturing Technology, Inc

Which Factor is Sparking the Demand Growth for Welding Machinery?

“Strong Usage in Automotive and Aerospace Industries”

Welding machinery is used in the automotive industry to weld various parts. 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.

• As per ACEA figures, around 19.5 million automobiles were manufactured in the European Union in 2021. Moreover, according to the same source, the European Union produced approximately 10.8 million passenger cars in the same year.
• According to OICA data, China manufactured 2.21 million heavy trucks in 2020 and 2.98 million in 2021.

Furthermore, welding machine tools are widely used in the aerospace industry. Welding machinery is used to connect components such as plasma arcs, tungsten gas-shielded arcs, and gas-shielded metal arcs on aircraft.

What Can Negatively Impact Sales of Welding Machinery?

“Shortage of Skilled Workers and High Labor Costs”

The welding industry heavily relies on skilled workers. As per welding industry experts, there is a global shortage of skilled welders. Railways, roads, power, bridges, and shipping infrastructure are all heavily reliant on metal joining technologies.

• In 2021, the Indian Institute of Welding (IIW) reported a need for 1.2 million welding experts, including welders, fitters, cutters, and equipment operators.

Moreover, the welding industry is facing a major issue due to high labor costs in developed regions such as Europe and North America.

“Slow Uptake of Modern Welding Technologies in Developing Countries”

The slow uptake of modern welding technologies in developing countries such as China and India is projected to have a negative impact on the sales of welding machinery during the forecast period. This is due to the high investments required to deploy modern welding technologies.

Country-wise Insights

Why are South Korea and Japan Important Markets in Asia Pacific?

Asia Pacific accounted for 35.4% share of the global sales of welding machinery in 2021. South Korea and Japan are important markets for welding machinery in Asia Pacific.

The sales of welding machinery in South Korea and Japan are likely to grow over the next ten years. Governments and public-private partnership (PPP) projects aimed at developing public infrastructure, and utility infrastructure is expected to assist the sales growth of welding machinery in South Korea and Japan.

Why is the United States Taking Center Stage in North America?

Demand for welding machinery in North America is projected to expand during the forecast period. The United States market garnered US$ 2.9 Billion in 2021.

The constantly expanding building and construction industry in the United States is expected to drive the demand for welding equipment. Government and private sector companies are investing heavily in infrastructure development in the country.

• According to the United States Census Bureau, the country's construction spending in the first nine months of 2021 was around USD 978.7 billion.

Welding machinery is utilized for a variety of welding applications in construction projects, including structural welding and pipe fabrication.

Why Does Germany Hold a Leading Position in the European Market?

Sales of welding equipment are consistently increasing in Europe. This is due to rising demand for a broad range of welding equipment from the construction, automotive, electronics, heavy machinery, and transportation industries.

Germany holds the leading position in the European market. Welding equipment is used in the automotive industry for a variety of purposes, including exhaust system welding, frame/fender welding, and wheel welding. Throughout the projection period, the growing automotive industry in Germany is expected to drive demand for welding equipment.

Category-wise Insights

Why Has Arc Welding Gained Immense Traction?

Demand for arc welding is anticipated to rise during the study period. The demand for arc welding is growing in offshore infrastructure development operations, as well as process equipment, pipeline, and nuclear facility maintenance and repair.

Over the projected period, increasing government efforts to improve industrial facilities by boosting foreign investment in emerging economies such as India, Myanmar, and Indonesia are estimated to fuel the demand for arc welding. Moreover, arc welding equipment is inexpensive and easy to transport. Furthermore, arc welding equipment offers a better welding environment since arc welding releases less welding fumes than traditional technologies.

What Aspects are Boosting Demand for Automatic Welding?

Demand for automatic welding is expected to grow from 2022 to 2032. The adoption of welding robots in manufacturing plants has reduced reliance on manual automation techniques and labor in a variety of industries.

Furthermore, the creation of effective and smart technology-based robotic welding systems, such as remote control and artificial intelligence-equipped robots, is projected to boost the demand for automatic welding.

The demand for semi-automatic welding systems is also anticipated to increase since they are partially implemented using technology-based equipment and are handled by personnel with limited expertise and experience. However, this approach necessitates the use of expensive manpower, raising the operational expense.

Competitive Landscape

Key suppliers of welding machinery are aggressively pursuing inorganic marketing tactics such as collaborations, technological innovations, investments, acquisitions, and R&D activities to expand their presence in the worldwide market. Moreover, many startups are releasing innovative welding equipment to establish themselves in the worldwide market.

• YesWelder is a start-up firm based in Boulder, Colorado, which develops welding equipment and accessories for welding professionals. According to the company, its new MP200 welding equipment is a five-in-one machine capable of four distinct types of welding capabilities (MIG, MMA, FCAW, and TIG) and plasma cutting. The company produced the MP200 to decrease the need for and cost of many devices that can only execute one task.
• In February 2021, Lincoln Electric unveiled the new Vantage 441X, the latest addition to its Vantage range of diesel engine-driven welders/generators.

• Lincoln Electric launched a VRTEX OxyFuel Cutting feature in December 2020 that blends welding and cutting by allowing users to practice torch cutting safely and virtually in partnership with The Harris Products Group, a Lincoln Electric firm and the cutting leader.
• In November 2020, ESAB and YASKAWA, renowned robot and robot system businesses, signed a global partnership deal to develop and commercialize the XCellerator series of pre-engineered robotic welding systems.

Key Segments of Welding Machinery Industry Research

• By Product Type:

  • Arc Welding
  • Oxy-Fuel Welding
  • Resistance Welding
  • Laser Beam Welding
  • Other Product Types

• By Type:

  • Automatic
  • Semi-Automatic
  • Manual

• By End Use:

  • Automotive
  • Building & Construction
  • Aerospace
  • Energy
  • Oil & Gas
  • Marine
  • Other End Uses

• By Region:

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA