Overview
and Scope
Welding equipment, accessories, and consumables
refer to the set of products that are used during the process of welding, which
is the process of fabrication of metals in which two pieces of metal are joined
together by applying heat by using instruments such as welding goggles, welding
helmets, welding glass, welding spray, and welding positioners.
Sizing and Forecast
The welding equipment, accessories, and consumables market size has grown
strongly in recent years. It will grow from $24.84 billion in 2023 to $26.73
billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The
growth in the historic period can be attributed to repair and
maintenance needs, promising growth in the steel industry, increased demand
from other end-use industries, automotive industry growth, rise in
infrastructure development.
The welding equipment, accessories, and consumables market size is expected to
see strong growth in the next few years. It will grow to $34.83 billion in 2028
at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be
attributed to renewable energy projects, global construction growth, rise of
electric vehicles, oil and gas industry investments, growing demand for
high-performance and efficient welding solutions. Major trends in the forecast
period include advancements in welding equipment and consumables technology,
digitalization and automation, iot integration in welding equipment,
eco-friendly welding consumables, focus on lightweight materials.
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/welding-equipment-accessories-and-consumables-global-market-report
Segmentation & Regional Insights
The welding equipment, accessories, and consumables market covered in this
report is segmented –
1) By Technology: Arc Welding, Oxy-fuel Welding, Other Technologies
2) By Equipment Type: Welding Electrode, Filler Metal, Oxy-fuel Gas
3) By Application: Automotive, Building and construction, Heavy Engineering,
Railway & Shipbuiding, Oil & Gas, Other Applications
Asia-Pacific was the largest region in the welding equipment accessories and
consumables market in 2023. Asia-Pacific is expected to be the fastest-growing
region in the forecast period. The regions covered in the welding equipment,
accessories, and consumables market report are Asia-Pacific, Western Europe,
Eastern Europe, North America, South America, Middle East, Africa
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report:
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Major Driver Impacting Market Growth
The growing demand for the steel industry is expected to propel the growth
of the welding equipment accessories and consumables market. The increased
demand for welded metals in the fabrication industry and the use of welding
equipment is used for applications such as stick welding, tungsten inert gas
(TIG) welding, and metal inert gas (MIG) welding. For instance, according to
the American Iron and Steel Institute, as of January 2022, in the United
States, the domestic raw steel production stood at 1,803,000 net tons while the
capability utilization rate was 81.9%. Also, according to IBEF, in FY2021, in
India, the production of crude steel and finished steel stood a 102.49 MT and
94.66 MT, respectively. Therefore, the growing demand for the steel industry is
driving the growth of the welding equipment accessories and consumables market.
Key Industry Players
Major companies operating in the welding equipment, accessories, and
consumables market report are Air Liquide S. A., British Oxygen Company, Bug-O
Systems Inc., Carl Cloos Schweisstechnik GmbH, Cavagna Group UK Ltd., Colfax
Corporation, Daihen Corporation, GCE Holding AB, Gentec Corporation, Illinois
Tool Works Inc., Kobe Steel Ltd., Koike Aronson Inc., Lincoln Electric Holdings
Inc., Linde plc, Matheson Tri-Gas Inc., Elektriska Svetsnings-Aktiebolaget,
Fronius International GmbH, Kemppi Oy, Obara Corporation, Panasonic
Corporation, ARCON Welding Equipment LLC, Costruzioni Elettromeccaniche
Annettoni S. p. A., Ewm Ag, Hyundai Welding Co. Ltd., Kjellberg Finsterwalde
Plasma und Maschinen GmbH, Lorch Schweißtechnik GmbH, Miller Electric Mfg LLC,
OTC Daihen Corporation, Rofin-Sinar Technologies Inc., Soyer GmbH, Voestalpine
Böhler Welding GmbH, Welding Alloys Group Ltd.
The welding equipment, accessories, and consumables market report table of
contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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Wednesday 24 April 2024
Global Welding Equipment, Accessories, and Consumables Market Expected to See Significant Growth According to TBRC’s Market Research Report
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