Global Welding Equipment, Accessories, and Consumables Market forecast and Trends

The global Welding Equipment, Accessories, and Consumable market has reached 21.98 Billion in 2019 and estimated to reach USD 29.78 Billion in 2026 and anticipated to grow by CAGR of 4.51% during the forecast period 2020-2026. Some of the key factors expected to pave the way for market growth for the welding equipment, accessories, and consumables market in the forthcoming years are rapid growth in the automotive industry, technological advances in the marine and power generation sectors, rising demand for efficient welding consumables due to the increasing infrastructure in industrial processes. Increasing middle-class per-capita income has increased consumer purchasing power, leading to the growth of new structures and manufacturing, leading to increased use of welding equipment, accessories, and consumables. The welding consumables are used in the automotive industry in the manufacture of lightweight and high-quality vehicle parts. Improvements in vehicle safety features, along with emerging car designs, have increased automotive sales, thus boosting growth in the demand for welding equipment, accessories, and consumables.

Global Welding Equipment, Accessories, and Consumables Market: Overview

Welding equipment technology is generally used for the fabrication of two or more material permanently. This method is adopted in small- or large-scale industries to weld metal or thermoplastics. Various welding equipment such as gas flames, electric arcs, friction, molten metal baths, lasers, ultrasound, electron beams, and electrical resistance are used globally. Growth in the construction industry throughout the world, a slight increase in consumer spending, full capacity utilization of the manufacturers, and an increase in automobiles sales have played a huge role in providing the necessary momentum to the welding equipment, accessories, and consumables market.

Growth drivers

Growing of Automobile, Steel and Constructions industries is the major drivers in Welding Equipment, Accessories, and Consumables Industry

Continuous increase in automotive production and an increased number of applications across different end-user industries using different types of welding techniques increased global investment in energy infrastructure and increased the use of welding consumables for maintenance and repair purposes.

Surged disposable income in the middle class is driving the Welding Equipment, Accessories, and Consumables Industry

Increasing per capita income in the middle class has increased consumer purchasing power, resulting in the growth of new structures and manufacturing, leading to increased use of welding equipment, accessories, and consumables. With the increasing population, the number of residential, commercial projects, the building & construction demand is raised, thereby fueling the market. Also, government initiatives for infrastructure improvement, availability of bank loans at lower prices, etc. are elevating the construction sector, as a result propelling the Welding Equipment, Accessories, and Consumables market.

Restraints

High cost and unskilled labor restrict Growth of the Welding Equipment, Accessories, and Consumables Market.

Slow adoption of enhanced welding technologies in developing economies, the environmental impact of welding consumables, slow growth of aerospace & defense and shipbuilding industries, and customer price sensitivity restrict the market growth of Welding Equipment, Accessories, and Consumables.

Global Welding Equipment, Accessories, and Consumables Market: By Technology

Based on Technology, Global Welding Equipment, Accessories, and Consumables segmented into Arc Welding, Oxy-Fuel Welding, and Others. The Arc Welding segment dominated the market in 2019 and is projected to be the rapidly growing segment in the next five years, owing to the upsurge in demand for argon gases by the different industries to meet the demand. Additionally, the oxy-fuel segment is projected to be the second-fastest-growing industry in the coming year. Increasing demand from various end-use industries, including construction, aerospace & Defence, oil & gas, automotive, and many more, are driving the market. Arc welding equipment is being increasingly used to construct gas rigs, homes, huge offshore oil, bridges, and pipelines. Furthermore, the government spends a huge amount on national infrastructure expansion programs that lead to the growth of Arc welding during the forecast period.

Global Welding Equipment, Accessories, and Consumables Market: By Equipment Type

Based on Equipment Type, Global Welding Equipment, Accessories, and Consumables segmented into Welding electrode & filler metal, and Oxy-fuel Gas. The welding electrode and filler metal equipment segment held the largest share in 2015 and is predicted to have market dominance during the forecast years since it is mostly used in the arc welding equipment.

Global Welding Equipment, Accessories, and Consumables Market: By End-Use        

Based on End-Use, the Welding Equipment, Accessories, and Consumables market segmented into Automotive, Fabrication, Building & Construction, Marine, Power, Oil & Gas, and Others. The automotive segment is expected to grow significantly in the forecast period since the automotive sector is concentrating on reducing the weight of vehicles by substituting metal parts with plastics, which requires high precision welding. Furthermore, the automotive industry is prioritizing to hold advanced welding technology to make the best use of high tensile strength steels that are deployed in manufacturing the automotive parts and create a global position of technological superiority, further increase the market. Besides, oil & gas and railway segments are expected to grow moderately over the forecast period owing to rising infrastructure in developing economies, adoption of various precision welding techniques to perform critical operations such as railway tracks, underwater pipelines, etc.

Global Welding Equipment, Accessories, and Consumables Market: Regional insights

Based on Region, The Welding Equipment, Accessories, and Consumables Market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. 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 & automatic welding production systems in developing Asia Pacific countries increases the need for welding consumables and inclination towards urbanization and industrialization. Besides, the rising number of construction projects in APAC countries, including China, India, is anticipated to fuel the growth of the global Welding Equipment, Accessories, and Consumables market during the forecast period 2020-2026.

Welding Equipment, Accessories, and Consumable Market: Competitive Landscape

The major market players in the Welding Equipment, Accessories, and Consumable Market include Linde Group, Air Liquide S.A., Illinois Tool Works Inc., Colfax Corporation, Lincoln Electric Holdings Inc., Messer Group, African Oxygen Limited, GCE Holding AB,  Koike Aronson Inc., Fronius International GmbH, Matheson Tri-Gas Inc., Bug-O Systems Inc., Gentec (Shanghai) Corporation, British Oxygen Company, Müller Opladen, Cavagna Group, Rotarex, and Other Prominent Players.

The objective of the Study:

To analyze and forecast the global Welding Equipment, Accessories, and Consumables market size of the, in terms of value.

To examine the careful segmentation and forecast the size, in terms value, based on the region by segmenting the Global Welding Equipment, Accessories, and Consumables into five regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and their leading countries.

To outline, categorized and forecast the global Welding Equipment, Accessories, and Consumables market based on Technology, Equipment Type, Accessory, Consumable, and End-Use.

To examine competitive developments like technological advancement, services, and regulative framework within the global Welding Equipment, Accessories, and Consumables Market.

To highlight the impact analysis of the factors affecting the dynamics such as drivers, restraints, opportunities, and challenges.

To strategically profile the key players and comprehensively analyze their shares along with detailing the competitive landscape for leaders.

Scope of the Report:

By Technology

·         ARC Welding

·         Oxy-Fuel Welding

·         Others

By Equipment Type

·         Welding electrode & filler metal

·         Oxy-fuel Gas

By Accessory

·         Gas regulators

·         Gas flowmeters

·         Gas filters

·         Check valves

·         Gas manifolds

·         Flow controllers

·         Gas panels

·         Others

By Consumable

·         Stick electrodes

·         Solid wires

·         Flux-cored wires

·         SAW wires

·         Fluxes

·         Shielding gases

·         Others

By End-Use Industry

·         Automotive

·         Fabrication

·         Building & Construction

·         Marine

·         Power

·         Oil & Gas

·         Others

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East & Africa

Business Questions answered by the report

How will the drivers, restraints, and opportunities affect the dynamics?

What will be the size in terms of value and volume and statistics with a detailed classification?

Which segment dominates the or region, and one will be the fastest-growing, and why?

A comprehensive survey of the competitive landscape and the  participant players

Analysis of strategy adopted by the key player and their impact on other players.

Customization Scope for the Client

Client satisfaction is our first and last priority, and that’s why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:

Additional Company Information

With five additional company detail analysis

Additional country analysis

Detailed segment analysis