Leading Element Driving Change in the Welding Equipment, Accessories, and Consumables Market in 2025: Steel Industry's Surge Fuels Welding Equipment Accessories And Consumables Market Driver

What combination of drivers is leading to accelerated growth in the welding equipment, accessories, and consumables market?
As the steel industry sees an upsurge in demand, the market for welding equipment accessories and consumables is anticipated to expand correspondingly. The mounting need for welded metals within the fabrication sector, coupled with the application of welding apparatus in stick welding, tungsten inert gas (TIG) welding, and metal inert gas (MIG) welding, accelerates this growth. Predictions from the Belgium-based World Steel Association in 2022 indicate a boost in steel demand by 0.4%, equating to 1,840.2 million metric tons. This upward trend is set to continue into 2023, with an expected growth of 2.2%, translating into 1,881.4 million metric tons. Thus, the burgeoning demand within the steel industry propels the expansion of the welding equipment accessories and consumables market.

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What is the projected compound annual growth rate (CAGR) of the welding equipment, accessories, and consumables market from 2025 to 2034, and what factors influence it?
The marketplace for welding equipment, accessories, and consumables has seen strong growth in recent times. The market, which was worth $26.36 billion in 2024, is predicted to increase to $28.23 billion in 2025, signifying a compound annual growth rate (CAGR) of 7.1%. This remarkable growth in the past years is due to factors such as the need for repair and maintenance, positive growth trends in the steel industry, escalating demand from various other industries, growth in the automobile industry, and a surge in infrastructure development.

Predictions indicate robust expansion for the welding equipment, accessories, and consumables market in the forthcoming years. By 2029, the market will reach a worth of $37.28 billion, growing at a cumulative average growth rate (CAGR) of 7.2%. Factors such as renewable energy projects, global construction development, the evolution of electric vehicles, investments in the oil and gas sector, and the escalating need for efficient and high-performance welding solutions contribute significantly to this growth during the projection period. The market trends during this period comprise advancements in welding equipment and consumables technology, digitalization and automation, Internet of Things (IoT) integration in welding equipment, the prevalence of eco-friendly welding consumables, and an emphasis on lightweight materials.

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How are the latest trends influencing the growth of the welding equipment, accessories, and consumables market?
Key players in the welding equipment, accessories, and consumables market are focusing on the launch of portable welding machines to boost user accessibility and facilitate on-site welding work across different industries. These portable welding machines are lightweight, compact, and designed for transportability and operational convenience in various settings. They come equipped with auto cable calibration for precise voltage measurements prior to the commencement of welding. Users can leverage the PowerLog feature to adjust the welding current levels during the welding process smoothly. For example, in March 2023, Kemppi GmbH, a manufacturing company based in Finland, released Master M 205 and Master M 323 - two models of portable welding machines. They come with a user-friendly Weld Assist that simplifies the process of adjusting parameters, enabling users to choose material thickness, joint type, and the position for welding, thereby kickstarting the welding process swiftly. The machines have a clearly visible 5" LCD screen that enhances visibility in confined spaces. The presence of self-powered LED work lights increase safety during poorly lit conditions. These machines are flexible and can function with or without direct power, making them useful in a variety of work settings.

What are the major segments of the welding equipment, accessories, and consumables market and their role in driving growth?
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 And Shipbuilding, Oil And Gas, Other Applications

Subsegments:
1) By Arc Welding: Shielded Metal Arc Welding (SMAW), Gas Metal Arc Welding (GMAW), Gas Tungsten Arc Welding (GTAW)
2) By Oxy-Fuel Welding: Oxy-Acetylene Welding, Oxy-Propane Welding
3) By Other Technologies: Laser Welding, Electron Beam Welding, Friction Welding

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Which regions are key players in the growth of the welding equipment, accessories, and consumables market?
Asia-Pacific was the largest region in the welding equipment accessories and consumables market in 2024. 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

Who are the key firms paving the way for growth in the welding equipment, accessories, and consumables market?
Major companies operating in the welding equipment, accessories, and consumables market include 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.

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What Is Covered In The Welding Equipment, Accessories, and Consumables Global Market Report?

•Market Size Forecast: Examine the welding equipment, accessories, and consumables market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the welding equipment, accessories, and consumables market for a structured understanding.
•Key Players Overview: Analyze major players in the welding equipment, accessories, and consumables market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the welding equipment, accessories, and consumables market.
•Segment Contributions: Evaluate how different segments drive overall growth in the welding equipment, accessories, and consumables market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the welding equipment, accessories, and consumables market.
•Industry Challenges: Identify potential risks and obstacles affecting the welding equipment, accessories, and consumables market.
•Competitive Landscape: Review strategic developments in the welding equipment, accessories, and consumables market, including expansions, agreements, and new product launches.

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