Welding equipment and consumables are crucial components of the global manufacturing industry, providing the means to join and shape metals and other materials into a wide range of products. The global welding equipment and consumables market has experienced significant growth in recent years, driven by increasing demand from industries such as automotive, construction, and aerospace. Technological advancements in welding equipment and consumables have led to the development of more efficient and cost-effective products, further driving the market's growth. Additionally, the rising focus on infrastructure development in emerging economies is expected to drive the demand for welding equipment and consumables in the coming years. However, environmental and safety concerns associated with welding processes and the availability of alternative joining techniques may pose a challenge to the growth of the market in the future. Nonetheless, the global welding equipment and consumables market is expected to continue to grow as manufacturers strive to improve their production processes and meet the increasing demand for high-quality products. Rapid growth in the automotive industry, technological advances in the marine and power generation sectors, and rising demand for efficient welding consumables due to increased infrastructure in industrial processes are some of the key factors expected to pave the way for market growth in the welding equipment, accessories, and consumables markets in the coming years.
According to the research report, "Global Welding Equipment & Consumables Market Research Report, 2028", published by Actual Market Research, the market is anticipated to reach USD 36.15 billion by 2028, with a significant CAGR of 4.85% from USD 27.36 Billion in 2022. Rising middle-class per-capita income has increased consumer purchasing power, resulting in the expansion of new structures and manufacturing, as well as an increase in the use of welding equipment, accessories, and consumables. Welding consumables are used in the automobile industry to create lightweight, high-quality vehicle parts. Vehicle safety features, as well as emerging car designs, have increased automotive sales, boosting demand for welding equipment, accessories, and consumables. Welding consumables are becoming increasingly popular in a wide range of industries around the world because they provide a safe and accurate way to join two metal parts. Furthermore, the rising demand for electric vehicles has boosted the automobile industry, which in turn has surged the demand for welding consumables. Increasing demand for welding robots is also fueling market expansion. Welding robots are excellent not only for their efficiency and precision but also for their ability to eliminate various welding safety risks. As a result, welding robots are in high demand in the manufacturing industry. In addition, the growing need for welding automation technology in fabrication is expected to propel the welding consumables market forward in the near future.
Based on the report, the market is segmented into five major regions, including North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. Among them, Asia-Pacific is leading the market in 2022. Asia-Pacific is predicted to be the fastest-growing market for welding equipment, accessories, and consumables during the forecast period, mainly due to increasing demand for semi-automatic and automatic welding production systems in developing Asia-Pacific countries, which increases the need for welding consumables and the inclination towards urbanisation and industrialization. Furthermore, the rising number of construction projects in countries such as China and India is expected to drive the global welding equipment, accessories, and consumables market during the forecast period. North America and Europe are mature markets for welding equipment and consumables, with widespread adoption and a plethora of established players. The demand for welding equipment and consumables in these regions is primarily driven by the automotive and construction industries, which are significant end-users. South America, the Middle East, and Africa are also expected to witness growth in the welding equipment and consumables market, driven by the increasing demand from industries such as oil and gas, construction, and automotive.
Welding equipment and consumables are essential components in many industrial processes, used for joining two or more metal parts together. The increasing need for metal fabrication and repair work in various industries is driving the demand for welding equipment and consumables globally. The automotive industry is one of the major end-users of welding equipment and consumables, as welding is extensively used in the manufacturing and assembly of automobiles. The automotive industry is focusing on reducing vehicle weight by replacing metal parts with plastic, which necessitates high-precision welding. Furthermore, the automotive industry prioritises holding advanced welding technology in order to make the best use of high-tensile steels used in the manufacturing of automotive parts and create a global position of technological superiority, thereby increasing market share. The construction industry is another key user, as welding is used in the fabrication of steel structures, pipelines, and other building components. The oil and gas industry is also a significant consumer of welding equipment and consumables, as welding is used in the construction and maintenance of pipelines and storage tanks. The shipbuilding industry is another growing market for welding equipment and consumables, as welding is used in the construction of ships and other marine vessels. Owing to rising infrastructure in developing economies, various precision welding techniques are being adopted to perform critical operations such as railway tracks, underwater pipelines, etc.
Based on technology, the market is segmented into arc welding, oxy-fuel welding, and others. The arc welding segment dominated the market in 2022 and is expected to be the fastest-growing segment in the coming years due to an increase in demand for argon gases by various industries to meet demand. Furthermore, the oxy-fuel industry is expected to be the second-fastest-growing industry in the coming year. The market is being driven by rising demand from a variety of end-use industries, including construction, aerospace and defence, oil and gas, automotive, and many others. Arc welding equipment is increasingly being used to build oil rigs, homes, massive offshore oil platforms, bridges, and pipelines. Furthermore, the government spends a huge amount on national infrastructure expansion programmes that lead to the growth of arc welding during the forecast period. Further, based on equipment type, the market is segmented into welding electrodes, filler metal, and oxy-fuel gas. The welding electrode and filler metal equipment segment held the largest share in 2022 and is predicted to have market dominance during the forecast years since it is mostly used in arc welding equipment.
The global welding equipment and consumables market is expected to witness several key trends in the coming years, driven by technological advancements, changing consumer preferences, and increasing demand from key industries. With the growing need for precision and efficiency in welding processes, there is expected to be a significant increase in the adoption of automation in welding equipment and consumables. This will lead to reduced labour costs, increased productivity, and improved quality. There is a growing trend towards the use of eco-friendly welding consumables and equipment, which are designed to reduce emissions and improve energy efficiency. This trend is expected to continue in the coming years, driven by environmental regulations and consumer preferences. Technological advancements, such as the development of hybrid welding technologies and laser welding, are expected to drive the growth of the welding equipment and consumables market. These technologies offer improved precision, speed, and efficiency in welding processes. There is a growing demand for lightweight materials such as aluminium and composites in the automotive and aerospace industries. This trend is expected to drive the demand for welding equipment and consumables designed for welding these materials.
The global market for welding equipment and consumables is subject to various government regulations and standards to ensure worker safety and environmental protection. These regulations and standards play a critical role in ensuring the safety and quality of welding equipment and consumables on the global market. For instance, Occupational Safety and Health Administration (OSHA) regulations set safety standards and requirements for welding operations to protect workers from hazards such as electrical shock, fumes, and radiation. The European Committee for Standardisation (CEN) sets European standards for welding equipment and consumables to ensure quality and safety. The International Organisation for Standardisation (ISO) develops and publishes international standards for welding equipment and consumables to ensure consistency in product performance and safety. Environmental Protection Agency (EPA) regulations set standards for the emissions of hazardous air pollutants and regulate the disposal of welding-related waste materials. Restriction of Hazardous Substances (RoHS) regulations restricts the use of certain hazardous substances in electrical and electronic equipment, including welding equipment and consumables.
There are several global trade shows and exhibitions for welding equipment and consumables that take place every year, providing a platform for industry professionals to showcase their latest products, technologies, and innovations. For instance, Fabtech is one of the largest welding equipment and technology trade shows in North America, featuring exhibitors from various industries, including welding, metal forming, and fabricating. It features exhibits from over 1,700 companies and attracts over 48,000 attendees from around the world. The Essen Welding and Cutting Fair is one of the largest welding exhibitions in Europe, featuring exhibitors from over 40 countries and showcasing the latest welding equipment and consumables. The Beijing Essen Welding and Cutting Fair is the largest welding exhibition in Asia, attracting exhibitors and visitors from all over the world. It takes place biennially in Beijing, China, and features exhibits from over 1,000 companies. The Welding and Cutting Fair of South China is one of the largest welding exhibitions in China, featuring exhibitors from both domestic and international companies. Schweissen & Schneiden is a leading international trade fair for welding, cutting, and joining technology. It takes place every four years in Essen, Germany, and features over 1,000 exhibitors from more than 40 countries. Weldex is welding equipment and consumables trade show in Russia and the CIS countries. It features exhibits from over 200 companies and attracts over 10,000 attendees.
Recent Product Launches:
• ESAB launched its Rebel EMP 205ic AC/DC welding machine that is suitable for both AC and DC welding applications.
• Lincoln Electric introduced its new welding consumables, including Excalibur® 7018 XMR® and Pipeliner® 81M welding electrodes, which provide improved performance and productivity.
• Miller Electric launched its ArcReach technology, which allows welding operators to adjust welding parameters at the wire feeder instead of going back to the power source.
• Kemppi introduced its MasterTig product range, which includes MasterTig AC/DC 3000 and 4000 welding machines that are designed for high-quality TIG welding.
• Fronius released its TPS/i Robotics power source that is specifically designed for robotic welding applications.