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Welding Market to Reach $28.66 Billion by 2028; Increasing Demand for Advanced Technology Welding Service to Support Growth: Fortune Business Insights™

August 25, 2021 | Machinery & Equipment

The global welding market size was USD 20.23 billion in 2020. The market is projected to grow from USD 20.99 billion in 2021 to USD 28.66 billion in 2028 at a CAGR of 4.6% in the 2021-2028 period. This information is published by Fortune Business Insights™ in its report titled, “Welding Market Size, Share & COVID-19 Impact Analysis, By Product Type (Welding Equipment and Consumables), By Welding Type (Arc, Resistance, Oxy-Acetylene Gas, Solid State and Others), By Application (Automotive, Building & Construction, Heavy Engineering, Railway & Shipbuilding, Oil & Gas and Others) and Regional Forecast, 2021-2028.”


As per our analysts, improvements in practices have facilitated the incorporation of augmented reality, fixtureless welding, internet of things (IoT), intelligent sensors, and others are empowering producers to enhance productivity, scalability, and prompt profit on investments. For example, in September 2019, Yaskawa Motoman introduced the ArcWorld 50 Series, which is updated with progressive operations such as weld assessment and course monitoring.


COVID-19 Pandemic Outbreak Dropped Demand in Fabrication and Construction Sector


The latest COVID-19 outbreak has had a massive financial and labor market influence and impacted numerous manufacturing businesses. Countries that depend on export or import for their annual economical revenues suffered the most during the lockdown period. For instance, till March 2020, about 20% of the world trade in industrial production and manufacturing transitional goods was based in China. Therefore, due to the stringent transportation guidelines, global trade was disrupted.


Moreover, the construction industry endures failing to owe to diminished international demand on account of the scarcity of labors on-site, postponement or termination of upcoming projects, and others. For example, as per the Associated General Contractors (AGC) of America, the coronavirus pandemic has deferred construction ventures for around 28% of the workers and suppliers owing to the unavailability of assistants.


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


https://www.fortunebusinessinsights.com/industry-reports/welding-market-101657


Lincoln Electric Declares Unveiling of Novel HELIX M627 Orbital GTAW Weld Gear


Lincoln Electric launched the HELIX M627, the newest addition to the HELIX M series collection of orbital weld heads. This welding head is intended and field-verified to provide the most advanced and user-friendly key in the market. The HELIX M627 enables its users to effortlessly gain the extended efficiency and superiority of automated GTAW.


The product is explicitly calculated for mini tube and pipe GTAW welding. Furthermore, the HELIX M627 weld head also contains a low circular clearance of 2.87 inches 72.9 mm and elasticity to promptly regulate and fit appropriately on the pipe, which varies between 1.5” and 6” width. The HELIX M627 simplifies the work process like never before to knock into the unmatched weld quality of automated GTAW, with a strong proposal and established compressing apparatus action.


Development in Progressive Technologies to Support the Market Growth


The rising popularity of linking unrelated and non-metallic constituents, modified metal figures and designs, the advent of diverse methods, and many others are likely for a novel movement of development arising and reforming the industry. In such circumstances, the implementation of robotic welding is surging as it decreases the operation duration, offers great accuracy welds and efficiency in nominal time.


Similarly, the reshuffling of numerous instinctive technologies rooted in robotic solutions such as the internet of things (IoT), artificial intelligence (AI), smart sensors, and cloud data coupled with the operative physical build is supporting the decline in mishaps at the workstation. For example, in July 2017, Fanuc Corporation introduced Arc Mate 100iD, a robot constituted with innovative graphical handler interface and numerous smart roles perfect for tapered work areas, maintained the quality of work and monitoring practices at each stage of production and manufacturing. This is expected to bolster the welding market growth during the forecast period.


Industry Development



  • March 2020: Voestalpine Böhler Welding attained another company, Selco s.r.l. in order to create a calculated expansion to serve its consumers in an improved manner and achieve lucrative business.


List of Key Players Covered in this Market Report



  • 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)


Further Findings



  • Asia Pacific held the highest revenue of USD 7.27 billion in 2020 and is 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 such as China, Japan, and India.

  • Arc welding is anticipated to show significant growth in the upcoming 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. The segment earned 35.8% in terms of the welding market share in 2020.


Table of Segmentation


















































  ATTRIBUTE



  DETAILS



Study Period



  2017-2028



Base Year



  2020



Forecast Period



  2021-2028



Historical Period



  2017-2019



Unit



  Value (USD Billion)



Segmentation



  By Product Type, Welding Type, Application, Region



By Product Type




  • Welding Equipment

  • Consumables



By Welding Type




  • Arc

  • Resistance

  • Oxy-Acetylene Gas

  • Solid State

  • Others (Electron Beam, etc.)



By Application




  • Automotive

  • Building & Construction

  • Heavy Engineering

  • Railway & Shipbuilding

  • Oil & Gas

  • Others (Aerospace, etc.)



By Region




  • North America (By Product Type, Welding Type, Application, and Country)

    • The U.S.

    • Canada



  • Europe (By Product Type, Welding Type, Application, and Country)

    • The UK

    • Germany

    • France

    • Rest of Europe



  • Asia Pacific (By Product Type, Welding Type, Application, and Country)

    • China

    • Japan

    • India

    • Southeast Asia

    • Rest of Asia Pacific



  • The Middle East & Africa (By Product Type, Welding Type, Application, and Country)

    • GCC

    • South Africa

    • Rest of the Middle East & Africa



  • Latin America (By Product Type, Welding Type, Application, and Country)

    • Brazil

    • Mexico

    • Rest of Latin America




Welding Market
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  • 2020
  • 2017-2019
  • 140

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