Press release
Welding Gas/Shielding Gas Market Size to Reach $4.71 Billion by 2029 | Growth at 8.7% CAGR Forecast
Welding Gas/Shielding Gas Market
What is the Projected Market Size of the Welding Gas/Shielding Gas Industry?
In the past years, significant growth has been observed in the welding gas/shielding gas market size. The market is projected to expand from $3.17 billion in 2024 to $3.38 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.6%. The underlying reasons for this growth during the historical period include industrial expansion, infrastructure enhancements, manufacturing globalization, and the automotive sector's development.
What Will Be the Size of the Welding Gas/Shielding Gas Market by 2029?
Expectations are high for the welding gas/shielding gas market, with probable significant expansion in the next few years. By 2029, it is anticipated to achieve a worth of $4.71 billion, escalating at a compound annual growth rate (CAGR) of 8.7%. This growth during the forecast period is due to various factors such as heightened construction activities, economic growth in developing markets, strict regulations, and an increase in renewable energy projects. The forecasting period also sees a few trends arising like technological innovations in welding techniques, a shift towards specialty gases, incorporation of automation, rising requirement for laser welding gases, digitization in welding, strategic collaborations, and mergers and tailored gas mixtures.
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What Are the Key Drivers Accelerating Growth in the Welding Gas/Shielding Gas Market?
The advancement of the welding gas or shielding gas market is predicted to be fuelled by the projected growth in the metal manufacturing and metal fabrication sectors. These industries involve the creation of metal sheets and castings through processes such as smelting, casting, and mining. Welding and shielding gases, due to their strength, endurance, and corrosion resistance, play a vital role in the construction and production of metal goods, specifically in the union of two metal sheet parts. As an example, the Belgium-based European Steel Association AISBL (EUROFER) reported in 2023 that the European steel industry amasses approximately €130 billion in revenue annually, and produces an average of 152 million tonnes of steel each year. More than 500 steel production establishments can be found throughout 22 EU Member States. Hence, the expansion in the metal manufacturing and metal fabrication sectors is triggering the growth of the welding gas or shielding gas market.
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How Is the Welding Gas/Shielding Gas Market Segmented by Type, Application, and Region?
The welding gas/shielding gas market covered in this report is segmented -
1) By Type: Argon, Carbon Dioxide, Oxygen, Hydrogen, Other Types
2) By Storage, Transportation and Distribution Mode: Cylinder and Packaged Gas Distribution, Merchant Liquid And Bulk Distribution
3) By Application: Gas Metal Arc Welding, Gas Tungsten Arc Welding, Other Application
4) By End User Industry: Metal Manufacturing And Fabrication, Construction, Energy, Aerospace, Other End-User Industry
Subsegments:
1) By Argon: Pure Argon, Argon-CO2 Mixtures
2) By Carbon Dioxide: Pure Carbon Dioxide, CO2 Mixtures For Welding
3) By Oxygen: Pure Oxygen, Oxygen-Acetylene Mixtures
4) By Hydrogen: Pure Hydrogen, Hydrogen-Oxygen Mixtures
5) By Other Types: Helium, Nitrogen, Specialty Gas Mixtures
What Are the Key Trends Driving Growth in the Welding Gas/Shielding Gas Market?
Technological innovation is emerging as a significant trend in the welding gas and shielding gas market. Top companies in the field are focused on developing new-age technologies to make welding procedures quicker and safer. For example, Air Liquide S. A., a technology organization from France that provides industrial gases and services to various industries, introduced Qlixbi. This revolutionary packaged gas, fortified with digital technology, features continuous supply and faster gas application in welding operations along with a range of innovative cylinders and digital solutions. Qlixbi's digital features provide insights for enhancing productivity and efficiency in welding operations.
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Who Are the Leading Companies Driving Growth in the Welding Gas/Shielding Gas Market?
Major companies operating in the welding gas/shielding gas market include Air Products and Chemicals Inc., Gulf Cryo, Linde PLC, Iwatani Corporation, Praxair Inc., Nippon Sanso Holdings Corporation, Southern Industrial Gas Sdn Bhd, The Messer Group GmbH, American Welding Gas Inc., Ellenbarrie Industrial Gases Ltd., Lincoln Electric Holdings Inc., Elektriska Svetsnings-Aktiebolaget, Fronius International GmbH, Gas Innovations, Sterling Gases Limited, SIG Gases Berhad, Iceblick Ltd., Messer Canada Inc., WestAir Gases & Equipment, Norco Inc., Weldstar Company, Arc3 Gases, Holston Gases Inc., Roberts Oxygen Inc., NexAir LLC, Indiana Oxygen Company Inc., Haun Welding Supply Inc., Welders Supply Company, Welding Industrial Supply Company, Sidney Lee Welding Supply Inc.
Which Is the Leading Region in the Global Welding Gas/Shielding Gas Market?
North America was the largest region in the welding gas/shielding gas market in 2024. The regions covered in the welding gas/shielding gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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