Press release
Arc Welding Equipment Market CAGR Projected to Grow at 5.2% through 2025
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Demand for welding equipment is predicted to rise for repair & maintenance-related activities in the near future. Major industries including energy, automotive & transportation, construction, shipbuilding, processing, and metal fabrication will witness huge requirement of welding equipment and consumables for repair and maintenance processes.
Wind energy industry is expected to hold potential growth opportunities for manufacturers of welding equipment. According to Global Wind Energy Council, adoption of wind power has increased by 50% over the past few years.
SMAW Technology to Dominate the Global Arc Welding Equipment Market
On the basis of technology, shielded metal arc welding (SMAW) will continue to dominate the global arc welding equipment market. This majorly contributed to its cheap selling costs and easy availability in the market. Sales of arc welding equipment based on gas metal arc welding (GMAW) technology will surpass 450,000 units by 2025-end. Demand for arc welding equipment based on electroslag welding (ESW) and electrogas welding (EGW) technology will remain sluggish in the market during the forecast period.
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Argon will remain preferred gas for welding processes in the global arc welding equipment market, with highest demand estimated from GMAW technology. Nearly 350,000 tons of argon gas is expected to be sold for GMAW technology across the globe by 2025-end.
Sales of manual and semi-automatic arc welding equipment are collectively estimated to surpass 2,000,000 units by 2025-end, with the latter being comparatively more preferred than the former. In terms of volume, semi-automatic arc welding equipment sales will exhibit the highest CAGR through 2025. In contrast, sales of automatic arc welding equipment are anticipated to register the lowest CAGR through 2025 in the global arc welding equipment market.
APAC will Continue to be the Largest Market for Arc Welding Equipment
Asia Pacific (APAC) will remain the largest market for arc welding equipment, with sales pegged to reach nearly 960,000 units by 2025-end. Various parameters such as strong weld, ease of operation and cost-effectiveness will drive demand for arc welding equipment in APAC for application in industries such as energy, automotive & transportation, shipbuilding, construction, metal fabrication, and processing. In addition, economic growth of APAC countries such as India, China, and South Korea is expected to witness acceleration, implying a rise in construction and manufacturing activities in this region. This is further expected to drive higher demand for arc welding equipment in APAC.
However, sluggish adoption of advanced arc welding technologies including PAW, EGW and SAW in APAC countries is estimated to be a major retraining factor for growth of the arc welding equipment market in this region. High market competition owing to low-cost products offered by local players are compelling huge manufacturers to sell their products at low prices. This will further impede market growth in APAC.
Evolving Automobile Designs & Surging Demand for Automobiles will Drive Market Growth in Europe
Europe will continue to be the second largest market for arc welding equipment during the forecast period. Robust expansion of heavy industries such as automotive, steel fabrication, pipe, and heavy equipment in Europe is the major factor driving growth of the arc welding equipment market in this region. Evolving automobile designs, surging demand for automobiles, and burgeoning demand for arc welding equipment from wind and solar energy industries will further fuel growth of the market in Europe.
Low-cost China imports are flooding the European market, posing threats for majority of European manufacturers. In addition, various players engage in sales of arc welding equipment, which are refurbished or reworked, and are duplicates of OEM’s products. These factors are estimated to impede growth of the arc welding equipment market in Europe.
Leading market players identified in PMR’s report include Daihen Corporation, The Lincoln Electric Company, Colfax Corporation, Obara Group, Inc., Illinois Tool Works Inc., Hyundai Welding Co. Ltd., Praxair, Inc., Arc3 Gases, Inc., MESSER Group GmbH, Air Liquide S.A., Fronius International GmbH, Air Products and Chemicals, Inc., The Linde Group, CEA S.p.A., EWM AG, Taiyo Nippon Sanso Corporation, Panasonic Corporation, GYS, MERKLE Schweißanlagen-Technik GmbH, Kemppi Oy.
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