Rockville , Jan. 02, 2024 (GLOBE NEWSWIRE) -- The global welding equipment market, estimated at US$ 21.93 billion for 2024, is projected to expand at a CAGR of 5.2% from 2024 to 2034. Increasing demand for welding equipment from the construction, automobile, and marine sectors is projected to drive market growth over the forecast period (2024–2024).
Rapid progress in developing economies, coupled with the expanding manufacturing sector, fuels the growth of the welding equipment market. Moreover, the surge in middle-class income in emerging economies propels rapid advancements in automobiles, where welding methods such as resistance spot welding, seam welding, and rotary friction welding, find frequent application.
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Escalating demand for welding equipment from the automotive, construction, heavy engineering, and manufacturing sectors are major drivers for the growth of the market for welding equipment. Simultaneously, the upsurge in renovation activities within the construction sector also contributes significantly to the market's growth.
The current trend toward automated welding equipment is being driven by its safety features and time-saving capabilities, which sets it apart from other types of machinery. Manufacturers are transitioning to automated systems to enhance product quality and minimize human involvement. Industrial automation in welding equipment presents several advantages, refining weld precision and uniformity by eliminating human-related errors and deviations. These automated systems guarantee precise weld positioning, regulated heat input, and consistent weld quality, eventually yielding stronger and dependable welds.
| Report Attribute | Details |
| Value Projection (2034) | US$ 36.41 Billion |
| Growth Rate (2024-2034) | 5.7% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
Key Takeaways from Market Study
- The global welding equipment market is estimated at US$ 21.93 billion in 2024.
- Demand for welding equipment is projected to rise at a CAGR of 5.2% from 2024 to 2034.
- The market is projected to reach US$ 36.41 billion by 2034-end.
- The market in East Asia is forecasted to advance at a CAGR of 5.5% through 2034.
- The automatic welding equipment segment is projected to expand at a CAGR of 5.4% during the forecast period.
- The market in North America is predicted to increase at a CAGR of 5.6% from 2024 to 2034.
“Increasing demand for welding equipment from various industries is a major driver for the global welding equipment market. Fabrication operations are required in industries such as construction, shipbuilding, aerospace, and railways, which aids market growth,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- Arcon Welding Equipment
- Colfax Corporation
- OBARA CORP
- Panasonic Corporation
- Amada Miyachi, Inc.
- DAIHEN Corporation
- ESAB Welding & Cutting Products
- Fronius International GmbH
- Rofin-Sinar Technologies
- Sonic & Materials Inc.
Rising Adoption of Automated Welding Solutions
The adoption of cutting-edge welding technologies is increasing, driven by growing awareness among vendors about automation. With a focus on gaining a competitive advantage, vendors are increasingly embracing automation in welding processes. These technologies bring forth advantages such as heightened precision, accelerated welding speeds, enhanced quality, and minimized temperature-affected zones.
As industries prioritize amplified productivity and efficiency, the demand for these advanced welding techniques is on the rise. The industry has witnessed a revolutionary impact due to automation and robotics, delivering precise and effective welding solutions.
- For example, in 2020, Hyundai Motor Company, a multinational automotive manufacturer, implemented a fully automated welding method at its Ulsan plant in South Korea. This system employs robotic welding arms to augment production efficiency and elevate weld features in vehicle assembly. This strategic adoption of automation and robotics exemplifies the industry's search for heightened productivity and exactness.
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Explore More Related Studies Published by Fact.MR Research:
Welding Machinery Market: 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 Apparels Market: The welding apparel market is expected to grow at a significant rate of 4% during the forecast period of 2021-2031.
Arc Welding Equipment Market: The global Arc welding equipment market is estimated at US$ 5.1 billion in 2023 and is forecast to reach US$ 8.7 billion by 2033, growing with a CAGR of 5.5% from 2023 to 2033.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the welding equipment market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on type (automatic, semi-automatic, manual), application (automobiles & transportation, building & construction, marine), and technology (arc welding, resistance welding, oxy-fuel welding, laser-beam welding), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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