Fort Collins, Colorado, April 15, 2024 (GLOBE NEWSWIRE) --
The increasing focus on sustainability and environmental concerns presents a significant opportunity for the welding equipment market. Manufacturers are developing energy-efficient and eco-friendly welding equipment to reduce energy consumption and minimize the environmental impact of welding processes. For example, inverter-based welding machines consume less energy compared to traditional transformer-based machines, resulting in reduced operational costs and carbon footprint.
According to the U.S. Department of Energy, inverter-based welding machines can save up to 40% of energy compared to conventional welding machines. Developing low-fume welding consumables and filler metals also helps reduce the emission of harmful gases and particulate matter, contributing to a safer and healthier work environment. The growing demand for sustainable and environmentally friendly welding solutions is expected to create new opportunities for manufacturers in the welding equipment market.
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Segmentation Overview:
The welding equipment market has been segmented into type, automation, end-user, and region.
Arc welding to register a massive growth in the forecast period.
- Based on the market segmentation by type, the welding equipment market can be divided into arc welding, braze welding, forge welding, gas welding, resistance welding, welding consumables, and others. The arc welding is expected to hold the largest market share, accounting for over 40% of the total market revenue.
Automotive will register substantial growth in the forecast period.
- Based on end-user, the welding equipment market segmentation comprises aerospace, automotive, building & construction, energy, and oil & gas. Automotive is the leading end-user segment, which is attributed to its heavy dependence on welding and assembly of vehicular components.
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Welding Equipment Market Report Highlights:
- The welding equipment market growth is anticipated at a CAGR of 5.8% by 2032.
- Increased demand for welding equipment in automotive industries will propel market growth.
- North America is a fast-growing welding equipment market that is projected to retain a leading position in the coming years. Adopting advanced welding technologies is expected to impel the regional market growth.
- Some prominent players in the welding equipment market report include Lincoln Electric, ESAB, Illinois Tool Works (ITW), Panasonic Corporation, Fronius International GmbH, Miller Electric Mfg. LLC, Kemppi Oy, Colfax Corporation, Obara Corporation, Kobe Steel, Ltd., Ador Welding Limited, and Denyo Co., Ltd.
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