 |
| Welding EquipmentMarket |
Welding equipment refers to devices that are used to join materials, mostly metals or thermoplastics, by causing fusion. Some common types of welding equipment are arc welding machines, resistance welding equipment, laser beam welding machines, and oxygen-acetylene welding torches. Welding finds extensive applications in various industries such as automotive, aerospace, construction, shipbuilding, and railways. It is one of the most common ways of permanently joining metal parts. The rising investments in infrastructure development and automotive production are fueling demand for welding equipment across the globe.
The global welding equipment market is estimated to be valued at US$ 21.19 Bn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 to 2031.
Welding offers advantages such as high joint
strength, flexibility in design, and cost-effectiveness. It enables fabricating
complex and intricate parts, which is facilitating its increasing adoption.
However, manual Welding
Equipment Market Size requires technical skills and poses safety
hazards. Automation in welding processes through advanced equipment addresses
these challenges effectively.
Key Takeaways
Key players operating in the Welding Equipment are Alcast Technologies,
Arconic, Consolidated Metco, Inc., Dynacast International Inc., Gibbs Die
Casting, Ryobi die casting Inc., Bodine Aluminum, Martinrea Honsel Germany
GmbH, Leggett & Platt, Endurance Technologies Ltd., Empire Die Casting
Company, Alcoa Inc., Hitachi Metals Ltd, Nemak S.A.B. de C.V., GF Casting Solution
AG, Shiloh Industries Inc., Rheinmetall Automotive AG, Sigma Electric
Manufacturing Corp., Pace Industries, and Guangdong Yizumi. Major players are
focusing on strategic acquisitions and partnerships to consolidate their market
presence.
The growing demand from the construction and transportation industries offers
significant opportunities for welding equipment suppliers. Rising
infrastructure spending in developing economies such as India, China, and
Indonesia will create lucrative business prospects. Market players are
investing in these emerging regions to leverage the growth opportunities.
Arc welding equipment manufacturers are expanding their global footprint by
establishing production and distribution facilities across different
geographies. For instance, Colfax Corporation acquired DJO in 2020 to augment
its product portfolio and international presence. Meanwhile, AMADA HOLDINGS
CO., LTD acquired Prima Power Laserdyne in 2019 to consolidate its laser
welding technology leadership.
Market drivers: The increase in
infrastructure and transportation spending especially in emerging countries is
a key growth driver. Rising urbanization is translating to many new
construction projects requiring welding equipment. For example, China's "
Belt and Road Initiative" involves a huge infrastructure investment
program.
Market restrain: High initial
capital investment for advanced and automated welding systems is a major
challenge, especially for small fabricators and job shops. The high cost could
deter some end-users from procuring the latest welding technologies. Training
of welders and technicians to operate complex new-age equipment also requires
substantial resources and time.
Segment Analysis
The welding equipment market can be segmented based on
equipment type, welding technology, application, and region. The equipment type
segment can be divided into arc welding equipment, gas welding equipment, and
other equipment types. Within arc welding equipment, stick welding equipment
holds the dominant market share due to its wide applications and
cost-effectiveness. Stick welding equipment provides an economical option for
users and can weld a variety of steel and aluminum alloys.
Global Analysis
On the basis of region, the Asia Pacific region is projected to be the fastest
as well as dominating regional market during the forecast period. Countries
such as China, Japan and India have large manufacturing and infrastructure
sectors which is driving the demand for welding equipment in this region. The
growth of the automobile industry and rising construction activities across
China, India are fueling the growth of the welding equipment market in Asia
Pacific. This trend is anticipated to continue in the coming years and Asia
Pacific region will continue dominating the global welding equipment market.
Get
More Insights On Welding
Equipment Market
Comments
Post a Comment