In terms of revenue, the Arc Welding segment dominated the worldwide Welding Equipment market in 2023
The global Welding Equipment Market size was USD 17.01 Billion in 2022 and is expected to reach USD 29.23 Billion in 2032, and register a rapid revenue CAGR of 6.2% during the forecast period. Rapid industrialization and urbanization in emerging nations, rising need for energy-efficient and cost-effective welding equipment, and developments in welding technology are major factors driving market revenue growth.
One of the main sectors using welding equipment is the automotive industry due to rising demand for cars in developing nations. Need for welding equipment is also rising in the construction sector because of the increasing building activities in emerging countries. Also, demand for welding equipment is rising across various end-use industries, including aerospace, shipbuilding, and O&G, which is another key factor driving revenue growth of the market.
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Major Companies:
Lincoln Electric Holdings Inc.
Illinois Tool Works Inc.
Colfax Corporation
Panasonic Corporation
Voestalpine AG
Kemppi Oy
Amada Miyachi Co., Ltd.
Arcon Welding Equipment
ESAB Welding & Cutting Products
Fronius International GmbH
Miller Electric Mfg. LLC
Obara Corporation
Sohal Welding
DAIHEN Corporation
The Lincoln Electric Company
Key questions addressed in the report:
What is the expected market size of the global Welding Equipment market during the forecast period?
What CAGR is the global market expected to register during the forecast period?
Which key factors are expected to boost global market growth between 2021 and 2028?
What are the key restraints that are expected to hamper global market growth?
Which regional market is expected to register robust CAGR during the forecast period?
Which key players are operating the global Welding Equipment market?
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Strategic Developments:
In 2021, Lincoln Electric announced the acquisition of Advanced Process Solutions (APS), a leading manufacturer of automated welding solutions. This acquisition will help Lincoln Electric expand its automation offerings and strengthen its position in the Welding Equipment market.
In 2020, Illinois Tool Works (ITW) launched a new line of welding equipment under the brand name, Miller Electric Mfg. LLC. The new line, called ArcReach Smart Feeder, is designed for use in the construction and manufacturing industries and features advanced welding technology.
In 2020, Colfax Corporation announced that it had acquired Lorch Schweißtechnik GmbH, a leading manufacturer of welding equipment based in Germany. This acquisition will help Colfax expand its product offerings and strengthen its presence in the European Welding Equipment market.
Welding Equipment Market Segmentation:
By Product Type Outlook:
Arc Welding
Resistance Welding
Laser Welding
Oxy-fuel Welding
Others
By End-Use Outlook:
Automotive
Construction
Manufacturing
Oil & Gas
Others
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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