"Catapult Your Business to Fore, Gain Competitive Advantage "

Welding Market Size, Share & COVID-19 Impact Analysis, By Product Type (Welding Equipment and Consumables), By Process Type (Arc, Spot, MIG/TIG, Laser and Others), By Application (Automotive, Building & Construction, Heavy Engineering, Railway & Shipbuilding, Oil & Gas and Others) and Regional Forecast, 2020-2027

Region : Global | Format: PDF | Report ID: FBI101657

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global welding market size was USD 19.53 billion in 2019 and is projected to reach USD 27.22 billion by 2027, exhibiting a CAGR of 4.3 % during the forecast period.

COVID-19 Cover

This report covers COVID-19 impact analysis on Welding Market

Request Sample

The welding industry has evolved significantly over the past few years, with a widened applications scope, driven by advances in tools associated with the welding process. Also, shortage of welders across the globe is a major factor behind high adoption of robots across major industries. For instance, according to The American Welding Society, a welder shortage of 2,91,000 will be in effect by 2020. Besides this, advances in methodologies have enabled the integration of augmented reality, internet of things, fixtureless welding, intelligent sensors and others is enabling manufacturers to boost efficiency, scalability and early return on investments. For instance, in September 2019, Yaskawa Motoman unveiled ArcWorld 50 Series streamlined with advanced functions, such as weld inspection and process monitoring.    


Outbreak of the Covid-19 Pandemic Slashed Fabrication and Construction Industry


The recent coronavirus outbreak has had a huge economic and labor market impact, and affected several manufacturing industries. Generally, China is considered to be the central manufacturing hub for various industries majorly automotive, manufacturing, heavy engineering and others. For instance, China accounts for 27% of India’s automotive parts imports. However, slowing down of many business operations are creating adverse repercussions on the regional and global value chains. Imbalance in the supply demand ecosystem halted the fabrication processes of fixtures and fittings of such automotive parts. Similarly, till March 2020, 20% of the global trade in manufacturing intermediate products originated from China. Besides, the construction industry continues to underperform due to dampened global demand owing to unavailability of workers on-site, delay or cancellation of future projects and others. For instance, according to the Associated General Contractors (AGC) of America, the COVID-19 pandemic has delayed construction projects for 28% of the contractors due to the shortage of subordinates.


LATEST TRENDS


Request a Free sample to learn more about this report.


Evolution of Advanced Technologies Contributing to the Market Growth.


The surging trends towards joining dissimilar and non-metallic materials, customized metal shapes and designs, emergence of different techniques and others is bringing a new wave of advancement and reshaping the industry. In such scenarios, adoption of robotic welding is increasing as it reduces the time during operation, provides high precision welds and productivity in minimal time. Also, streamlining of various intuitive technologies embedded in robotic solutions such as the internet of things, artificial intelligence, cloud data, and smart sensors along with effective physical stature is enabling the reduction of accidents at the workplace. For instance, in July 2017, Fanuc Corporation launched Arc Mate 100iD robot configured with new graphical user interface and several intelligent functions ideally for narrow work spaces, repeatable quality and monitoring processes at every level of production.


DRIVING FACTORS


Availability of Equipment on Rental Basis is Contributing to the Market Growth


High upfront cost has encouraged suppliers to offer rental services or leasing schemes through various distribution channels. This is a major factor driving the welding equipment market. Apart from that, as a part of service contract, the equipment suppliers and sales distributors can create additional customer value by offering training, workshops, and other kinds of useful do-it-yourself information, which serves a marketing purpose and functions to highlight the increased value of products to customers. Execution of such contracts could generate significantly more value for customers than standard product purchases.


RESTRAINING FACTORS


Lack of Availability of Skilled Welders at Factory Floor is Anticipated to Hinder the Market Growth


Currently, the industry is witnessing several challenges as the engineers performing these activities on floor have been enlightened with different precautions and discipline, but rare guidance for conducting welding activity. In addition to this, these users usually learn to weld while they are performing the operations and hardly through apprenticeships or formal welder training. In such scenarios, there is a high risk of accidents as the operator is not well versed in the factors such as time needed to heat the metals, supply of required current, adjustments in noise and others.


SEGMENTATION


By Product Type Analysis


Consumables Segment is Generating the Highest Revenue Backed by Rising Deployment across Various Industry Verticals


Based on product type, the market is segmented into the equipment and consumables.


The consumables segment holds a dominant position in this market in terms of revenue due to the high demand for customized solutions for joining dissimilar and non-metallic materials, rise in consumption of steel, and others. Moreover, the welding industry is now emphasizing on adopting simple and cost-effective solutions to safeguard the work piece from the external environment.  In such a scenario, consumables are gaining impetus as the raw material utilized for manufacturing consumables comprises copper, rutile, aluminum, which possesses high tensile strength and antioxidants.


The equipment segment is expected to show considerable growth rate in the forecast period owing to rising trend of automated machines deployed across various user industries such as automobiles and construction for joining thermoplastics, metals, and others


By Process Type Analysis


To know how our report can help streamline your business, Speak to Analyst


Arc Welding is Expected to Grow Significantly in the Forecast Period with Rising General Fabrication Industry


Arc, Spot, MIG/TIG, Laser are the key types of welding considered in the scope amongst others (Gas welding)


Arc welding is anticipated to show significant growth in the coming years owing to the rising adoption of fusion processes, utilization of high strength low-alloy (HSLA) across various industries as it is a flexible and cost-effective process.


Spot welding is anticipated to grow at a moderate rate in the coming years owing to the low cost method’s, high reliability, efficiency, accessibility, and ability for robot automation, compared to other joining methods, make it ideal for automotive production.


MIG/TIG and laser welding is expected to grow at steady over the forecast period owing to demand for high precision for different grades of steel with mild steel as it provides better strength.


By Application Analysis


Heavy Engineering Segment Grow Significantly in the Coming Years Backed by Introduction of Smart Factories


The application segment is further categorized into automotive, building & construction, heavy engineering, railway & shipbuilding, oil & gas, others


The heavy engineering segment is expected to grow exponentially over the forecast period owing to introduction of smart factories, industry 4.0, rising automation and others. Moreover, high demand for precision welding is widening, mainly for joining two different metals without losing its properties, which is further supplementing the welding market growth.


The automotive segment is expected to grow significantly in the forecasted period as the automotive industry is focusing on reducing the weight of vehicles by replacing metal parts with plastics, which requires high precision. Moreover, the automotive industry is preferring to embrace advanced technology in order to make the best use of high tensile strength steels that are deployed in manufacturing the automotive parts and establish a global position of technological superiority further boosting the market.


Besides this, with the increasing number of residential, commercial projects, the building & construction segment is expected to grow at a considerable rate over the forecasted period. Also, government initiatives for infrastructure development, availability of bank loans at cheaper rates, are uplifting the construction sector, according to the industry analysis.


Oil & gas and railway segment is expected to grow moderately over the forecast period owing to rising infrastructure in developing economies, adoption of various precision techniques to perform critical operations such as railway tracks, underwater pipelines, and others


REGIONAL INSIGHTS


Asia Pacific Welding Market Size, 2019 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


The scope of the study is further segmented across five major regions, namely North America, Europe, Asia Pacific, Middle East and Africa and Latin America. They are further categorized into countries.


Asia Pacific holds the highest welding market share and anticipated to grow in the forecast period owing to the presence of local registered and unregistered manufacturers, rising construction and heavy engineering industries majorly in countries like China, Japan and India. For instance, in March 2020, China government released investment plans and “major infrastructure” projects wherein around USD 4.8 trillion would be invested to overcome potential pressure of COVID-19 outbreak and boost the dipping real estate business.


Following Asia Pacific, North America and Europe are anticipated to grow at a steady rate in the coming years owing to the presence of major manufacturers operating in this region. Additionally, the explicit efforts of these companies regarding technological developments, focus on the aftermarket services, and high pouring of investments in research and development activities are contributing to the regional market growth.


The Middle East and Africa and Latin America are expected to grow at a moderate rate owing to increasing construction expenditure in these regions. For instance, according to The International Trade Administration (ITA), in 2019, the Brazilian Ministry of Infrastructure has planned 59 new construction projects with a total investment of around USD 10 billion. Besides, high investments in the oil & gas sector in the MENA region are also projected to influence the market potential in the coming years. For instance, in January 2019, China led investment in oil & gas projects in the Middle East and Africa of around USD 75 billion.  


KEY INDUSTRY PLAYERS


Key Players are Focusing on Cost Leadership Strategy to Stay Competitive in the Global Market


Major manufacturers are focusing on adopting various pricing strategies to counter fluctuating raw material prices. For instance, Lincoln Electric adopted a product mix and effective pricing management approach to pursue profitability despite persistent raw material inflation. Also, suppliers are proactively improvising its existing product lines in terms of costs, quality and processes to meet the changing needs of the customers and maximize profitability. For instance, DENYO CO., LTD. is focusing on machines by reviewing the sales structure and developing new products to increase stay competitive in the market.       


LIST OF KEY COMPANIES PROFILED:



  • Lincoln Electric (Ohio, United States)

  • KOBE STEEL, LTD (Hyogo, Japan)

  • ESAB (Maryland, United States)

  • ZULFI (Al Zulfi, Saudi Arabia)

  • KISWEL CO., LTD. (Seoul, Korea)

  • CS HOLDINGS CO., LTD. (Gyeongsangbuk-do, Korea)

  • RME MIDDLE EAST (Dubai, UAE)

  • voestalpine BÖHLER Edelstahl GmbH (Linz, Upper Austria)

  • capilla (Leopoldshöhe, Germany)

  • Tianjin Golden Bridge Welding Materials Group International Trading Co., Ltd. (Tianjin, P. R. China)

  • Miller Electric Mfg. LLC (Wisconsin, United States)


 KEY INDUSTRY DEVELOPMENTS:



  • March, 2020: - Voestalpine Böhler Welding acquired Selco s.r.l. to make a strategic development to better serve to its customers and gain profitable business.

  • May, 2019: - Lincoln Electric entered into an agreement with Kaynak Tekniği Sanayi ve Ticaret A.Ş company to strengthen its current product portfolio and to advance Lincoln Electric’s regional growth strategy.


REPORT COVERAGE


An Infographic Representation of Welding Market

To get information on various segments, share your queries with us



The report provides an in-depth analysis of the market dynamics and competitive landscape. It provides various key insights including recent industry trends and developments in the market, such as mergers & acquisitions, macro, and microeconomic factors, SWOT analysis, and company profiles.


Report Scope & Segmentation











































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD billion)



Segmentation



By Product Type



  • Welding Equipment

  • Consumables



By Process Type



  • Arc

  • Spot

  • MIG/TIG

  • Laser

  • Others (Gas Welding, etc.)



By Application



  • Automobile

  • Building & Construction

  • Heavy Engineering

  • Railway & Shipbuilding

  • Oil & Gas

  • Others (Aerospace, etc.)



By Region



  • North America (the U.S. and Canada)

  • Europe (the U.K., Germany, France, and the Rest of Europe)

  • Asia Pacific (Japan, China, India, Southeast Asia and the Rest of Asia Pacific)

  • The Middle East & Africa (South Africa, GCC and the Rest of the Middle East & Africa)

  • Latin America (Brazil, Mexico, and the Rest of Latin America)



Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 19.53 billion in 2019 and is projected to reach USD 27.22 billion by 2027.

In 2019, the Asia Pacific market value stood at USD 7.04 billion.

Growing at a CAGR of 4.3%, the market will exhibit steady growth in the forecast period (2020-2027).

Heavy engineering sub-segment is expected to be the leading segment in this market during the forecast period.

Demand for multifunctional welding equipment across various applications are major factors driving the growth of the market.

The Lincoln Electric Company, ESAB and Kobe Steel are major players of the global market.

Asia Pacific dominated the market share in 2019.

Lack of availability of skilled welders is expected to hamper the market.

Arc welding is expected to drive the market.

Evolution of various welding technologies is the current market trend.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
Welding Market Size, Share and Global Industry Trend Forecast till 2026
  • Sep, 2020
  • 2019
  • 2016-2018
  • 140

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.
X