Welding Equipment Market to Reach USD 18.79 Billion by 2026; Rising Demand from Industries for Conducting Fabrications to Propel Growth

The global welding equipment market size is projected to reach USD 18.79 billion by 2026. The market is likely to gain impetus from the increasing demand from several industries, such as construction and railway & shipbuilding for performing multiple fabrication operations. This information is published in a recent study by Fortune Business Insights, titled, “Welding Equipment Market Size, Share & Industry Analysis, By Technology (Arc Welding, Resistance Spot Welding, MIG/TIG Welding, Laser Beam Welding, and Others), By Automation Type (Automatic, Semi-Automatic, and Manual), By Application (Automotive, Building & Construction, Heavy Engineering, Railway & Shipbuilding, and Others) and Regional Forecast, 2019-2026.” As per the study, the market was worth USD 11.58 billion in 2018. However, it will exhibit a CAGR of 6.3 % during the forecast period from 2019 to 2026.

Introduction to Robotic Technology Will Drive Growth

Nowadays, robotic technology has evolved and has become an integral part of every industry. It aids in decreasing the time of welding operation by welding two disjoint metals for creating a top-notch welded component. This technique is used mainly in high volume applications, namely, heavy engineering, building and construction, and automotive sectors. Miller Electric, an arc welding and cutting equipment manufacturing company, headquartered in the U.S., for instance, developed its PerformArc laser cell welding system for conducting cladding and welding applications. It is equipped with an integrated control panel that provides enhanced productivity and quality of the welded components. Deployment of robotic technology is one of the crucial welding equipment market trends.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/welding-equipment-market-101713

Key Segments of the Welding Equipment Market

• Technology: In terms of technology, the market is grouped into laser beam welding, MIG/TIG welding, resistance welding, arc welding, and others (oxy-fuel welding, etc.). Out of these, the arc welding segment is projected to grow at a fast pace during the forthcoming years owing to its cost-effective nature. It also provides a flexible welding process that is implemented in various industries. Resistance welding would grow remarkably owing to its capability to perform precise and novel welding of metal sheets of low-allow components and high strength.


• Automation type: The market is divided into manual, semi-automatic, and automatic. Amongst them, the automatic segment had generated 39.5% welding equipment market share in 2018 and it is expected to showcase immense growth in the coming years owing to the deployment of robots in the manufacturing and production plants across the world. It has eventually reduced the dependency on the manual workforce. The semi-automatic segment, on the other hand, is likely to exhibit steady growth. It is attributable to their partial implementation in the industry with technologically advanced equipment. They are operated by those labor populaces who lack knowledge and skills.


• Application: The market is fragmented into building & construction, railway & shipbuilding, automobile, heavy engineering, and others (oil & gas, etc.). Out of these, the heavy engineering segment holds the highest share and it is likely to lead the market in the upcoming years. This growth is attributable to a rise in the demand for high-quality welding systems. The automotive sector, on the other hand would also grow notably owing to the increasing spending capacity of people residing in the emerging countries.  


• Region: Geographically, the market is categorized into Asia Pacific, the Middle East and Africa, North America, Latin America, and Europe. Asia Pacific had acquired a share of USD 3.99 billion in 2018 and it is expected to dominate the market during the forecast period. The growth is attributable to a rise in the number of government initiatives to promote sector development in the emerging countries, namely, India and China. In North America, Canada and the U.S. are experiencing high development of the building & construction industry. It would driver welding equipment market growth in this region.

Key Players Focus on Mergers & Acquisitions to Expand Product Portfolio

The market consists of numerous small, medium, and large companies functioning around the world. At present, many companies are mainly focusing on acquiring other medium and small welding equipment companies as well as signing new agreements to expand their product portfolio.

Fortune Business Insights profiles some of the prominent organizations operating in the welding equipment market. They are as follows:

• Denyo


• voestalpine Bohler Welding GmbH


• The Lincoln Electric Company


• Panasonic Industry Europe GmbH


• ESAB


• KOBE STEEL, LTD.


• Miller Electric Mfg. LLC


• ACRO Automation Systems Inc.


• Air Liquide


• Ador Welding Ltd.


• Other key market players

Lincoln Electric Launches its Novel Power MIG 360MP Welder

• November 2019: Lincoln Electric, a manufacturer of welding products, headquartered in Ohio, unveiled its new Power MIG 360MP welder. It blends a number of innovative welding features with an easy-to-use interface. The result of this combination is the presentation of a workhorse that can is capable of multi-tasking. It is best suited for light, auto body, maintenance and repair, and metal fabrication applications.

The global welding equipment market can be segmented on the bases of: