Welding Equipment Market SWOT Analysis, Dynamics, Drivers, Key Indicators and Forecast to 2031

The welding equipment market size was valued at $8.3 billion in 2021, and is estimated to reach $13.9 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.

Welding equipment is extensively used in various industries such as automotive, aerospace, ship building, and other fabrication workshops for fusing two or more metal components together. Furthermore, welding equipment is used in building and infrastructure applications. For instance, welding equipment is used for connecting structural components for steel bridges.

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The automotive industry has witnessed significant growth in emerging economies. The Indian automotive industry has grown by about 10% from about $100 billion in 2021 to about $110 billion in 2022. Welding equipment are extensively used to fabricate and connect various automotive components such as chassis, transmission components, and exterior components such as doors and hood. Thus, growth of automotive industry boosts the welding equipment market.

The growth of the construction industry has led to an increase in infrastructure development, such as the construction of highways, bridges, and tunnels.
Welding equipment is used extensively in the construction of these structures, providing a significant boost to the welding equipment market. Welding equipment is essential for constructing bridges, as it is used to join steel components together to create the bridge's structure. This includes the welding of beams, girders, and other steel components that make up the bridge's framework. Hence, the rise in investment in construction activities, majorly in North America and Europe, is expected to drive the welding equipment market growth.

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Segmentation Based On:
By Type -
Arc welding
Resistance spot welding
Other

By Technology -
Automatic
Manual

By End user industry -
Automotive
Construction
Heavy engineering
Other

Key findings of the study
• The report provides an extensive analysis of the current and emerging global welding equipment market trends and dynamics.
• By type, the arc welding segment has dominated the welding equipment market, in terms of revenue in 2021 and resistance welding is projected to grow at a significant CAGR during the forecast period.
• By technology, the manual segment has registered the highest revenue in 2021 and automatic segment is anticipated to grow at a significant CAGR during the forecast period.
• By region, Asia-Pacific is projected to register the highest growth rate in the coming years.

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