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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.
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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.
List of Key Players Covered in this Market Report
Table of Segmentation
Value (USD Billion)
By Product Type, Welding Type, Application, Region
By Product Type
By Welding Type