Global Welding Equipment & Consumables Market Research Report, 2023-28

The global welding equipment market is expected to continue growing with the increasing demand for welding automation technology and infrastructure development.

Featured Companies

  • 1. Kobe Steel Ltd
  • 2. Illinois Tool Works Incorporation
  • 3. Messer Group GmbH
  • 4. Linde Plc
  • 5. Air Products and Chemicals, Inc.
  • 6. Air Liquide
  • More...

Welding equipment and consumables are essential tools and materials for joining two or more pieces of metal or thermoplastic together. The global welding equipment and consumables market has been growing steadily over the years, driven by the increasing demand for welding applications in several industries such as automotive, construction, and manufacturing. The market is driven by the growing demand for welding automation technology, the rise in construction and infrastructure development activities, and the increasing use of welding in the automotive and transportation industries. Also, increasing demand for welding consumables in the construction, automotive, and shipbuilding industries, as well as a trend towards using advanced welding consumables that offer higher efficiency and lower emissions, are growing. The global welding equipment and consumables market is expected to continue growing in the coming years, driven by the increasing demand for welding automation technology, infrastructure development, and the use of advanced welding consumables. Global weld consumables demand has risen dramatically in the last year as a result of technological advancements and the need for low-cost, long-lasting materials for a wide range of industrial applications, with the automobile and transportation sectors accounting for the lion's share. The market for global welding consumables is expanding at a steady rate, driven along by the widespread adoption of marine/shipbuilding and general fabrication across industries to improve the manufacturing process. According to the research report, "Global Welding Equipment & Consumables Market Research Report, 2023–28,", 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. The welding equipment and consumables market is expected to experience steady growth in the coming years due to the increasing demand for welding in various industries such as construction, automotive, and aerospace. The market is also being driven by the rise in infrastructure development and government initiatives aimed at boosting the manufacturing sector. In addition, the growing demand for advanced welding technologies such as laser and ultrasonic welding is expected to boost the market further. Furthermore, the adoption of automation and robotics in welding processes is expected to increase, leading to higher efficiency, productivity, and quality. The Asia-Pacific region is expected to be the fastest-growing market for welding equipment and consumables due to the increasing demand from emerging economies such as India and China. The growth of the automotive and construction industries in this region is also expected to contribute to the market's growth.

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Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

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Based on the report, the market is segmented into equipment and consumables. Among them, the welding consumables segment is leading the market in 2022. Welding consumables refer to the materials that are used to join two metal parts during the welding process. These materials include welding wires, electrodes, fluxes, and shielding gases, among others. Welding consumables are dominating the market because they are an essential component in the welding process. Welding consumables are used in various welding techniques such as MIG, TIG, and stick welding, among others. They play a critical role in the quality of the welding joint and the overall efficiency of the welding process. In addition, the demand for welding consumables is increasing due to the growth of end-use industries such as construction, automotive, and aerospace. As these industries continue to grow, the demand for welding consumables is also expected to increase. Furthermore, technological advancements in welding consumables are driving the growth of the market. For instance, the development of advanced welding consumables with improved properties such as higher strength, improved corrosion resistance, and better weld ability has increased the demand for these materials. Arc welding is one of the leading welding technologies in the global market for welding equipment and consumables. Arc welding is a versatile welding process that can be used for a wide range of applications and materials, making it a popular choice in various industries such as automotive, construction, and aerospace. It is a relatively simple and cost-effective welding process, which makes it accessible to a wide range of users, from small businesses to large corporations. Arc welding equipment and consumables are widely available from a variety of suppliers, which helps to keep costs down and makes it easy for businesses to source the materials they need. Arc welding is a well-established technology with a long history of use, which has helped to build trust and confidence among users. This has contributed to its continued popularity and dominance in the global welding equipment and consumables market. Covid-19 Impacts: The demand for welding equipment, accessories, and consumables also decreased, as a majority of the demand is linked to the end-use industries, which are also facing difficulties operating during the pandemic. Many construction projects and activities, including government infrastructure projects that were initially running, came to a complete halt due to the imposition of lockdowns. The construction industry, like many others, is labour-intensive. The widespread panic caused by mass unemployment in the construction industry drove workers back to their homes. Even after several countries eased restrictions, construction companies are working with reduced finances, labour, and working hours, which will further delay project completion. The impact of the construction industry slowdown was also felt by the welding equipment, accessories, and consumables industries. Aside from plant closures, the cancellation of several projects in the commercial and industrial construction sectors reduced demand for welding equipment, accessories, and consumables in 2020. COVID-19's negative impact on the automotive industry also had an adverse effect on the market for welding equipment, accessories, and consumables. The disruption in Chinese parts exports, the closure of assembly plants in the United States, and large-scale manufacturing interruptions across Europe all had a significant impact on the industry. This put additional strain on an industry that was already dealing with a drop in global demand.

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Kripa Shah

Kripa Shah

Senior Analyst

Recent Developments: • October 2022: Lincoln Electric Holdings, Inc. disclosed that it had finalized an agreement to purchase Fori Automation, Inc. With new complementary capabilities, increased scale, and global reach, the acquisition will hasten the automation growth strategy. Lincoln Electric released the New POWER MIG 215 MpI multi-process welder in July 2022. • October 2022: Kemppi introduces the X5 FastMig Pulse welding system, which was created exclusively for industrial use. The modular welding solution is made to be applied in a variety of settings, allowing the manufacturers to develop the assembly that best meets their requirements. • In October 2022, OTC Daihen and distributor partner Airgas delivered the 1000th production robotic welding system to East Manufacturing, a SERVO-ARC 720B turntable robot welder. With this, Ohio is committed to providing arc-welding automation solutions for all metal fabricators, thanks to recently expanded manufacturing assembly capacity and increased product and consumable inventory. • In July 2022, Nippon Steel Engineering Co., Ltd. completed construction of one coke dry quenching plant (China), which was ordered by JFE Steel Corporation. The plant is designed to be environment-friendly by minimising dust emissions during the coke conveying and cooling processes to make it suitable for an urban steelwork. • Air Products, in June 2022, announced investing US$ 5000 million for constructing a green hydrogen production facility in New York. • Taiyo Nippon Sanso announced on September 5, 2022, that it had agreed to set up the Kimitsu Sanso Centre via a joint venture with Nippon Steel Corporation. Companies Mentioned in this Report: Illinois Tool Worker Inc, Kobe Steel, ltd., Air Liquide, Linde Plc, Messer GMBH, Voestalpine Bohler Welding Group GmbH, Hyundai Welding Co., Ltd., Air Products and Chemicals, Inc Considered in this report • Geography: Global • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028

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Kripa Shah

Aspects covered in this report • Global Welding Equipment & Consumables market with its value and forecast along with its segments • Region-wise Welding Equipment & Consumables market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Regions covered in the report: • North America • Europe • Asia-Pacific • South America • Middle East & Africa By Equipment type: • Electrodes & Filler Metal Equipment • Oxy-fuel Gas Equipment • Other Equipment By Consumable Type: • Stick electrodes • Solid wires • Flux-cored wires • SAW wires and Fluxes • Others (gases, rods, etc.) By Technology Type: • Arc Welding • Oxy-fuel Welding • Others (Resistance welding, Laser beam welding, plasma arc welding, electron beam welding, Atomic Hydrogen Welding, Forge Welding, Thermite Welding, Submerged Arc Welding (SAW), Flux-cored arc welding (FCAW)) By End-User: • Automotive • Fabrication • Building & Construction • Marine • Power • Oil & Gas • Others (Maintenance & Repair, Offshore, Pipe Mill, Pipeline, Aerospace, etc.) The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Welding Equipment & Consumables industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Companies Mentioned

  • Kobe Steel Ltd
  • Illinois Tool Works Incorporation
  • Messer Group GmbH
  • Linde Plc
  • Air Products and Chemicals, Inc.
  • Air Liquide
  • Lincoln Electric Holdings Inc
  • voestalpine Bohler Welding Group GmbH
  • Daihen Corporation
  • Hyundai Welding Co., Ltd.

Table of Contents

  • Table of Content
  • 1. Executive Summary
  • 2. Market Dynamics
  • 2.1. Market Drivers
  • 2.2. Challenges
  • 2.3. Opportunity
  • 2.4. Restraints
  • 2.5. Market Trends
  • 2.6. Covid-19 Effect
  • 2.7. Supply chain Analysis
  • 2.8. Policy & Regulatory Framework
  • 2.9. Industry Experts Views
  • 3. Research Methodology
  • 3.1. Secondary Research
  • 3.2. Primary Data Collection
  • 3.3. Market Formation & Validation
  • 3.4. Report Writing, Quality Check & Delivery
  • 4. Market Structure
  • 4.1. Market Considerate
  • 4.2. Assumptions
  • 4.3. Limitations
  • 4.4. Abbreviations
  • 4.5. Sources
  • 4.6. Definitions
  • 5. Economic /Demographic Snapshot
  • 6. Competitive Landscape
  • 6.1. Competitive Dashboard
  • 6.2. Business Strategies Adopted by Key Players
  • 6.3. Key Players Market Share Insights and Analysis, 2022
  • 6.4. Key Players Market Positioning Matrix
  • 6.5. Consolidated SWOT Analysis of Key Players
  • 6.6. Porter's Five Forces
  • 7. Global Welding Equipment & Consumables Market Outlook
  • 7.1. Market Size By Value
  • 7.2. Market Size and Forecast, By Geography
  • 7.3. Market Size and Forecast, By Type
  • 7.4. Market Size and Forecast, By Equipment Type
  • 7.5. Market Size and Forecast, By Consumable Type
  • 7.6. Market Size and Forecast, By Technology Type
  • 7.7. Market Size and Forecast, By End-User
  • 8. North America Welding Equipment & Consumables Market Outlook
  • 8.1. Market Size By Value
  • 8.2. Market Share By Country
  • 8.3. Market Size and Forecast By Type
  • 8.4. Market Size and Forecast By Equipment Type
  • 8.5. Market Size and Forecast By Consumable Type
  • 8.6. Market Size and Forecast By Technology Type
  • 8.7. Market Size and Forecast By End-User
  • 9. Europe Welding Equipment & Consumables Market Outlook
  • 9.1. Market Size By Value
  • 9.2. Market Share By Country
  • 9.3. Market Size and Forecast By Type
  • 9.4. Market Size and Forecast By Equipment Type
  • 9.5. Market Size and Forecast By Consumable Type
  • 9.6. Market Size and Forecast By Technology Type
  • 9.7. Market Size and Forecast By End-User
  • 10. Asia-Pacific Welding Equipment & Consumables Market Outlook
  • 10.1. Market Size By Value
  • 10.2. Market Share By Country
  • 10.3. Market Size and Forecast By Type
  • 10.4. Market Size and Forecast By Equipment Type
  • 10.5. Market Size and Forecast By Consumable Type
  • 10.6. Market Size and Forecast By Technology Type
  • 10.7. Market Size and Forecast By End-User
  • 11. South America Welding Equipment & Consumables Market Outlook
  • 11.1. Market Size By Value
  • 11.2. Market Share By Country
  • 11.3. Market Size and Forecast By Type
  • 11.4. Market Size and Forecast By Equipment Type
  • 11.5. Market Size and Forecast By Consumable Type
  • 11.6. Market Size and Forecast By Technology Type
  • 11.7. Market Size and Forecast By End-User
  • 12. Middle East & Africa Welding Equipment & Consumables Market Outlook
  • 12.1. Market Size By Value
  • 12.2. Market Share By Country
  • 12.3. Market Size and Forecast By Type
  • 12.4. Market Size and Forecast By Equipment Type
  • 12.5. Market Size and Forecast By Consumable Type
  • 12.6. Market Size and Forecast By Technology Type
  • 12.7. Market Size and Forecast By End-User
  • 13. Company Profile
  • 13.1. Lincoln Electric Holdings Inc
  • 13.1.1. Company Snapshot
  • 13.1.2. Company Overview
  • 13.1.3. Financial Highlights
  • 13.1.4. Geographic Insights
  • 13.1.5. Business Segment & Performance
  • 13.1.6. Product Portfolio
  • 13.1.7. Key Executives
  • 13.1.8. Strategic Moves & Developments
  • 13.2. Illinois Tool Worker Inc
  • 13.3. Kobe Steel, ltd.
  • 13.4. Air Liquide
  • 13.5. Linde Plc
  • 13.6. Messer GMBH
  • 13.7. Voestalpine Bohler Welding Group GmbH
  • 13.8. Daihen Corporation
  • 13.9. Hyundai Welding Co., Ltd.
  • 13.10. Air Products and Chemicals, Inc.
  • 14. Strategic Recommendations
  • 15. Annexure
  • 15.1. FAQ`s
  • 15.2. Notes
  • 15.3. Related Reports
  • 16. Disclaimer

List of Tables

Table 1: Global Welding Equipment & Consumables Market Snapshot, By Segmentation (2022 & 2028) (in USD Billion)
Table 2: Top 10 Counties Economic Snapshot 2020
Table 3: Economic Snapshot of Other Prominent Countries 2020
Table 4: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 5: Global Welding Equipment & Consumables Market Size and Forecast, By Geography (2017 to 2028F) (In USD Billion)
Table 6: Global Welding Equipment & Consumables Market Size and Forecast, By Type (2017 to 2028F) (In USD Billion)
Table 7: Global Welding Equipment & Consumables Market Size and Forecast, By Equipment Type (2017 to 2028F) (In USD Billion)
Table 8: Global Welding Equipment & Consumables Market Size and Forecast, By Consumable Type (2017 to 2028F) (In USD Billion)
Table 9: Global Welding Equipment & Consumables Market Size and Forecast, By Technology Type (2017 to 2028F) (In USD Billion)
Table 10: Global Welding Equipment & Consumables Market Size and Forecast, By End-User (2017 to 2028F) (In USD Billion)
Table 11: North America Welding Equipment & Consumables Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 12: North America Welding Equipment & Consumables Market Size and Forecast By Equipment Type (2017 to 2028F) (In USD Billion)
Table 13: North America Welding Equipment & Consumables Market Size and Forecast By Consumable Type (2017 to 2028F) (In USD Billion)
Table 14: North America Welding Equipment & Consumables Market Size and Forecast By Technology Type (2017 to 2028F) (In USD Billion)
Table 15: North America Welding Equipment & Consumables Market Size and Forecast By End-User (2017 to 2028F) (In USD Billion)
Table 16: Europe Welding Equipment & Consumables Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 17: Europe Welding Equipment & Consumables Market Size and Forecast By Equipment Type (2017 to 2028F) (In USD Billion)
Table 18: Europe Welding Equipment & Consumables Market Size and Forecast By Consumable Type (2017 to 2028F) (In USD Billion)
Table 19: Europe Welding Equipment & Consumables Market Size and Forecast By Technology Type (2017 to 2028F) (In USD Billion)
Table 20: Europe Welding Equipment & Consumables Market Size and Forecast By End-User (2017 to 2028F) (In USD Billion)
Table 21: Asia-Pacific Welding Equipment & Consumables Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 22: Asia-Pacific Welding Equipment & Consumables Market Size and Forecast By Equipment Type (2017 to 2028F) (In USD Billion)
Table 23: Asia-Pacific Welding Equipment & Consumables Market Size and Forecast By Consumable Type (2017 to 2028F) (In USD Billion)
Table 24: Asia-Pacific Welding Equipment & Consumables Market Size and Forecast By Technology Type (2017 to 2028F) (In USD Billion)
Table 25: Asia-Pacific Welding Equipment & Consumables Market Size and Forecast By End-User (2017 to 2028F) (In USD Billion)
Table 26: South America Welding Equipment & Consumables Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 27: South America Welding Equipment & Consumables Market Size and Forecast By Equipment Type (2017 to 2028F) (In USD Billion)
Table 28: South America Welding Equipment & Consumables Market Size and Forecast By Consumable Type (2017 to 2028F) (In USD Billion)
Table 29: South America Welding Equipment & Consumables Market Size and Forecast By Technology Type (2017 to 2028F) (In USD Billion)
Table 30: South America Welding Equipment & Consumables Market Size and Forecast By End-User (2017 to 2028F) (In USD Billion)
Table 31: Middle East & Africa Welding Equipment & Consumables Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 32: Middle East & Africa Welding Equipment & Consumables Market Size and Forecast By Equipment Type (2017 to 2028F) (In USD Billion)
Table 33: Middle East & Africa Welding Equipment & Consumables Market Size and Forecast By Consumable Type (2017 to 2028F) (In USD Billion)
Table 34: Middle East & Africa Welding Equipment & Consumables Market Size and Forecast By Technology Type (2017 to 2028F) (In USD Billion)
Table 35: Middle East & Africa Welding Equipment & Consumables Market Size and Forecast By End-User (2017 to 2028F) (In USD Billion)
Table 36: Influencing Factors for Global Welding Equipment & Consumables Market, 2022

List of Figures

Figure 1: Global Welding Equipment & Consumables Market Size (USD Billion) By Region, 2022 & 2028
Figure 2: Market attractiveness Index, By Region 2028
Figure 3: Market attractiveness Index, By Segment 2028
Figure 4: Competitive Dashboard of top 5 players, 2022
Figure 5: Porter's Five Forces of Global Welding Equipment & Consumables Market
Figure 6: Global Welding Equipment & Consumables Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 7: Global Welding Equipment & Consumables Market Share By Region (2022)
Figure 8: North America Welding Equipment & Consumables Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 9: North America Welding Equipment & Consumables Market Share By Country (2022)
Figure 10: Europe Welding Equipment & Consumables Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 11: Europe Welding Equipment & Consumables Market Share By Country (2022)
Figure 12: Asia-Pacific Welding Equipment & Consumables Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 13: Asia-Pacific Welding Equipment & Consumables Market Share By Country (2022)
Figure 14: South America Welding Equipment & Consumables Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 15: South America Welding Equipment & Consumables Market Share By Country (2022)
Figure 16: Middle East & Africa Welding Equipment & Consumables Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 17: Middle East & Africa Welding Equipment & Consumables Market Share By Country (2022)

Market Research FAQs

The global welding equipment and consumables market was valued at around USD 27.36 Billion in 2022 and is expected to reach USD 36.15 Billion by 2028, growing at a CAGR of around 4.85% from 2023 to 2028.

Some of the key drivers of growth in the global welding equipment and consumables market include increasing demand for welding in various industries such as automotive, construction, and shipbuilding, as well as advancements in welding technologies such as laser and robotic welding.

Some of the major challenges facing the global welding equipment and consumables market include the high cost of advanced welding equipment and consumables, as well as the availability of skilled labor and training in welding techniques.

Asia Pacific region holds the highest market share of around 42.81% in 2022.

Some of the major players in the global welding equipment and consumables market include Lincoln Electric, ESAB, Air Liquide, The Linde Group, Colfax Corporation, Illinois Tool Works, Fronius International, Panasonic Corporation, and Kemppi Oy.
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Global Welding Equipment & Consumables Market Research Report, 2023-28

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