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Welding Equipment Market by End-user and Geography - Forecast and Analysis 2022-2026

  • Published: Jun 2022
  • Pages: 120
  • SKU: IRTNTR40473
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The welding equipment market share is expected to increase to USD 5.68 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.17%.

This welding equipment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers welding equipment market segmentation by end-user (automotive, construction, aerospace and defense, shipbuilding, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The welding equipment market report also offers information on several market vendors, including Ador Welding Ltd., AMADA Co. Ltd., Banner Welding Inc., Carl Cloos Schweisstechnik GmbH, Colfax Corp., DAIHEN Corp., Doncasters Group Ltd., Fronius International GmbH, Illinois Tool Works Inc., Kobe Steel Ltd., Kriton Weld Equipments Pvt. Ltd., Miller Electric LLC, Mitco Weld Products Pvt. Ltd., Mogora Pvt. Ltd., OBARA Group Inc., Panasonic Corp., Sonics and Materials Inc., Telwin Spa, The Lincoln Electric Co., and voestalpine AG among others.

What will the Welding Equipment Market Size be During the Forecast Period?

Welding Equipment Market Size

Download the Free Report Sample to Unlock the Welding Equipment Market Size for the Forecast Period and Other Important Statistics

 

Welding Equipment Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The emergence of friction stir welding technology in the automotive sector is notably driving the welding equipment market growth, although factors such as the lack of skilled workforce may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the welding equipment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Welding Equipment Market Driver

  • One of the key factors driving growth in the welding equipment market is the emergence of friction stir welding technology in the automotive sector.
  • In friction stir welding technology, two metals are joined by using frictional heat, coupled with a precisely controlled forging pressure. This technology prevents mechanical distortion, as the whole process takes place under a low operating temperature.
  • Products manufactured using this process are defect-free and possess high integrity. 
  • Friction stir welding has found major applications in the aerospace industry but is gaining traction in the automotive industry.
  • In the automotive industry, the need for high fuel efficiency has increased the demand for lightweight materials such as aluminum.
  • The friction stir welding process offers significant advantages over other welding processes. Some of such advantages are the ability to handle variations in the production process, improved mechanical properties, and low operating costs. 

Key Welding Equipment Market Trend

  • The lack of skilled workforce will be a major challenge for the welding equipment market during the forecast period.
  • While there is a significant labor shortage in the welding industry, the revival rate is not proportional. This is partly owing to the fact that the new crop of the workforce is not as qualified as required by employers.
  • Though employers have tried to solve this issue through in-house training programs, it is not sufficient as the growth of the number of registered apprentices is slow.
  • Several organizations have also cut down expenditure on training programs, as they presume training to provide short-term benefits.
  • New types of welding techniques further create a challenge for companies, as they need to train their workforce to handle these techniques efficiently. Furthermore, the use of automation and welding information management systems requires additional knowledge and skillsets to handle these systems effectively. 

Key Welding Equipment Market Challenge

  • The increasing adoption of automated solutions for welding is a welding equipment market trend that is expected to have a positive impact in the coming years.
  • With awareness regarding automation increasing among vendors and vendors seeking to gain a competitive advantage through automation, the use of automation in the welding process has been increasing significantly. 
  • While small-scale automation for welding was being used by vendors, the advances in robotics technology have led to the use of robots in welding processes.
  • The adoption of robots in welding enhances the efficiency of welding processes, improves the quality of welding, increases productivity, and minimizes scrap.
  • Advances in the software and welding guns and the potential of robots to weld any quality steel, aluminum, and other metals sheet are increasing the popularity of welding robots among end-users.
  • Vendors are providing robotic systems ranging from single-robot to multiple-robot configurations. 

This welding equipment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global welding equipment market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the welding equipment market during the forecast period.

Who are the Major Welding Equipment Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Ador Welding Ltd.
  • AMADA Co. Ltd.
  • Banner Welding Inc.
  • Carl Cloos Schweisstechnik GmbH
  • Colfax Corp.
  • DAIHEN Corp.
  • Doncasters Group Ltd.
  • Fronius International GmbH
  • Illinois Tool Works Inc.
  • Kobe Steel Ltd.
  • Kriton Weld Equipments Pvt. Ltd.
  • Miller Electric LLC
  • Mitco Weld Products Pvt. Ltd.
  • Mogora Pvt. Ltd.
  • OBARA Group Inc.
  • Panasonic Corp.
  • Sonics and Materials Inc.
  • Telwin Spa
  • The Lincoln Electric Co.
  • voestalpine AG

 

This statistical study of the welding equipment market encompasses successful business strategies deployed by the key vendors. The welding equipment market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • AMADA Co. Ltd. - AMADA Co. Ltd. is a public company headquartered in Japan. It is a global company generating $2,720.12 million in revenues and has around 8,774 employees. Its revenue from the global welding equipment market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. 
  • AMADA Co. Ltd. - The company offers welding equipment such as high frequency inverter welders, welder, fiber laser markers, and resistance welding systems. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The welding equipment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Welding Equipment Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the welding equipment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Welding Equipment Market?

Welding Equipment Market Market segmentation by region

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51% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for welding equipment in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The several governments and public-private partnership (PPP) projects targeted toward the development of public infrastructure and utility infrastructure will facilitate the welding equipment market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 in 2020 adversely affected the growth of the welding equipment market in APAC. The outbreak negatively affected many countries in the region, including China, India, South Korea, and Japan. However, the initiation of the large-scale COVID-19 vaccination drives in early 2021 and the resumption of operations in end-user industries stabilized the growth of the welding equipment market in the first half of 2021. Moreover, the rising demand for automobiles and government initiatives to revive the economy are expected to stimulate the growth of the regional welding equipment market during the forecast period.

What are the Revenue-generating End-user Segments in the Welding Equipment Market?

Welding Equipment Market Segmentation

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The welding equipment market share growth by the automotive segment will be significant during the forecast period. The automotive industry is a major revenue contributor to the global welding equipment market, owing to the high application of welding in the industry. Stringent requirement for quality and precision has led to an increased demand for automated welding in the automotive industry. Being an early adopter of automation, the automotive industry has been witnessing increased use of robotic welding in manufacturing operations. The need to manufacture high fuel-efficient vehicles has resulted in increased demand for lightweight materials such as aluminum, which can be efficiently welded through friction stir welding. Hence, these factors create new opportunities for the market. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the welding equipment market size and actionable market insights on post COVID-19 impact on each segment.

 

Welding Equipment Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 7.17%

Market growth 2022-2026

$ 5.68 billion

Market structure

Fragmented

YoY growth (%)

6.03

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 51%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Ador Welding Ltd., AMADA Co. Ltd., Banner Welding Inc., Carl Cloos Schweisstechnik GmbH, Colfax Corp., DAIHEN Corp., Doncasters Group Ltd., Fronius International GmbH, Illinois Tool Works Inc., Kobe Steel Ltd., Kriton Weld Equipments Pvt. Ltd., Miller Electric LLC, Mitco Weld Products Pvt. Ltd., Mogora Pvt. Ltd., OBARA Group Inc., Panasonic Corp., Sonics and Materials Inc., Telwin Spa, The Lincoln Electric Co., and voestalpine AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Welding Equipment Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive welding equipment market growth during the next five years
  • Precise estimation of the welding equipment market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the welding equipment industry across APAC, North America, Europe, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of welding equipment market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • Automotive - Market size and forecast 2020-2025
  • Construction - Market size and forecast 2020-2025
  • Aerospace and defense - Market size and forecast 2020-2025
  • Shipbuilding - Market size and forecast 2020-2025
  • Others - Market size and forecast 2020-2025
  • Market opportunity by End-user

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2020-2025
  • North America - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • AMADA Co. Ltd.
  • Banner Welding Inc.
  • Colfax Corp.
  • Fronius International GmbH
  • Illinois Tool Works Inc.
  • Lincoln Electric Co.
  • Miller Electric LLC
  • OBARA Group Inc.
  • Panasonic Corp.
  • voestalpine AG

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Welding Equipment Market market growth will increase by $5.68 bn during 2022-2026.
The welding equipment market market is expected to grow at a CAGR of 7.17% during 2022-2026.
Technavio has segmented the welding equipment market market by end-user (Automotive, Construction, Aerospace and defense, Shipbuilding, and Others) and geography (APAC, North America, Europe, South America, and Middle East and Africa).
Ador Welding Ltd., AMADA Co. Ltd., Banner Welding Inc., Carl Cloos Schweisstechnik GmbH, Colfax Corp., DAIHEN Corp., Doncasters Group Ltd., Fronius International GmbH, Illinois Tool Works Inc., Kobe Steel Ltd., Kriton Weld Equipments Pvt. Ltd., Miller Electric LLC, Mitco Weld Products Pvt. Ltd., Mogora Pvt. Ltd., OBARA Group Inc., Panasonic Corp., Sonics and Materials Inc., Telwin Spa, The Lincoln Electric Co., voestalpine AG are a few of the key vendors in the welding equipment market market.
APAC will register the highest growth rate of 51% among the other regions. Therefore, the welding equipment market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the welding equipment market market growth are:
  • Emergence of friction stir welding technology in the automotive sector
  • Increasing adoption of automated solutions for welding
The welding equipment market market vendors should focus on grabbing business opportunities from the automotive segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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