Market Research Future (MRFR) has published a cooked research report on the “Global Arc Welding Equipment Market” that contains information from 2018 to 2032. The arc welding equipment market is estimated to register a CAGR of 5.50% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global arc welding equipment market - Colfax Corporation, Telwin Spa, The Lincoln Electric Company, Air Liquide S.A, Arcon Welding Equipment, Automation International Inc., Miller Electric Mfg. LLC and Others.
Arc Welding Equipment Market Highlights
The global arc welding equipment market is accounted to register a CAGR of 5.50% during the forecast period and is estimated to reach USD 6.8 billion by 2032.
The primary reason fueling the market's expansion is the rapid uptake of arc welding equipment for uses including pipeline welding, steel erection, construction projects, and various heavy equipment repair applications. Furthermore, the market is expanding as a result of increasing arc welding process and equipment adoption due to the advantages it offers, including smooth welding, high welding speed, less distortion, low cost, improved corrosion resistance, and less sparks or smoke.
Segment Analysis
The global arc welding equipment market has been segmented based process, level of automation, applications and gases.
On the basis of process, the market is segmented into Shielded Metal Arc Welding, Gas Metal Arc Welding, Flux Core Arc Welding, Gas Tungsten Arc Welding and Submerged Arc Welding. The shielded metal arc welding segment was attributed to holding the largest market share in 2022. Shielded metal arc welding, often known as stick welding, is the most popular type of welding. It is the most flexible technique and only needs simple equipment. The small light electrode and holder can be employed in confined locations and are a few hundred feet away from the welding power supply.
Based on level of automation, the global arc welding equipment market has been segmented into Manual, Automatic and Semi-Automatic. The automatic segment was expected to hold the largest market share in 2022. Due to the equipment's quick adoption in various end-use industries, such as the automotive, construction, and aerospace sectors, it is projected that demand for automatic arc welding equipment would rise throughout the course of the projection period.
Browse In-depth Detailed Research Report [Table of Content, List of Figures, List of Tables] of Arc Welding Equipment Market Report
Based on application, the global arc welding equipment market has been segmented into Energy and Utilities, Automotive, Construction, Aerospace and Defence, Shipbuilding and Others. The automotive segment was expected to hold the largest market share in 2022. It is projected that continued electrification of the global transportation sector—particularly that of automobiles—along with ongoing technological breakthroughs in the automotive industry will assist various environmental organizations in reducing the impact of climate change.
Based on gases, the global arc welding equipment market has been segmented into Argon, Helium, Hydrogen, Carbon Dioxide, Oxygen, Nitrogen and Others. The argon segment was expected to hold the largest market share in 2022. In arc welding procedures, argon is frequently employed as a shielding gas, particularly in methods like TIG (Tungsten Inert Gas) welding. It ensures a clean and robust weld by assisting in the protection of the welding region from air contaminants.
Regional Analysis
The global arc welding equipment market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe arc welding equipment market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The arc welding equipment market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World arc welding equipment market comprises of Middle East, Africa, and Latin America.
The largest market share for arc welding equipment was maintained by the North American regional sector. The U.S. and Canadian building and construction industries' rapid growth is a contributing factor to the expansion of the arc welding machine market in North America. Infrastructural development is receiving significant funding from both the public and commercial sectors in the region.
Moreover, the Europe market has been persistently growing over the forecast period because of the nations' progress in automation. The construction of solar and hybrid power plants is necessary given the growing preference for renewable energy sources. Over the forecast period, this is anticipated to support the growth of the arc welding equipment business.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period. Due to rising demand from nations like China, India, Japan, South Korea, and Taiwan, the region is anticipated to keep holding the top spot during the course of the projection year. In the near future, there will be a significant demand for automatic arc welding equipment due to the region's expanding construction industry, which is growing as a result of rapid urbanization and rising infrastructure spending by various governments throughout Asia Pacific.
Furthermore, the rest of the world's arc welding equipment market is divided into the Middle East, Africa, and Latin America. The highest CAGR is projected for LAMEA during the forecast period. This is explained by the region's rapid development in disposable income and the enormous untapped market. The demand for arc welding equipment is anticipated to increase as a result of the movement in customer tastes toward customisation as well as the need to maintain the ride quality and fuel efficiency of automobiles.
Key Findings of the Study
- The global arc welding equipment market is expected to reach USD 6.8 billion by 2032, at a CAGR of 5.50% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to the growing construction sector in the area.
- Based on process, the shielded metal arc welding segment was attributed to holding the largest market in 2022, with an approximate market share of 37%.
- Colfax Corporation, Telwin Spa, The Lincoln Electric Company, Air Liquide S.A, Arcon Welding Equipment, Automation International Inc., Miller Electric Mfg. LLC and Others.
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Companies Covered | 15 |
Pages | 128 |
Certified Global Research Member
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.