The Global Market for Welding Machinery is Projected to Reach US$24.4 Billion by 2022

Growth in Infrastructure Projects in Emerging Economies Drives the Global Welding Machinery Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Welding Machinery market. The global market for Welding Machinery is projected to reach US$24.4 billion by 2022, driven by the growth in infrastructure development projects in emerging economies especially in the energy and transportation sectors.

Welding is a technique or process of joining together metals and materials for achieving high-strength, permanent fusions, efficiently and economically. Welding provides greater product strength and is more cost effective than soldering and brazing, thereby providing significant product cost benefits to manufacturers in a wide range of industries. Major end-use sectors for welding machinery include construction, automobile, aviation, shipbuilding and energy among others. The market comprises a wide range of products, such as welding machines, filler metals, electrodes, welding wires, drill, and angle grinders. Economic cycles and capital spending in the manufacturing and industrial sectors have a major impact on market prospects. The recent decline in oil prices, anemic economic growth, slowdown in the Chinese economy as a result of rejig in Chinese economic focus, and recession in emerging markets such as Russia & Brazil, pose immediate challenges to growth in the market. Lower oil prices and the proposed cut backs on oil and gas exploration and drilling projects adds an additional dose of uncertainty in the market, especially in oil producing countries. With steel being the primary choice of metal used in various projects including pipeline, construction, and infrastructure projects, demand for welding equipment is also determined by steel manufacturing. Demand and production of steel declined in the year 2015, reflecting relatively lower construction spending, which led to decline in welding machinery market.

Future prospects, however, remain bright, with the construction, infrastructure, wind power and energy sectors showing encouraging signs of recovery. The pressing need for upgrades in the aging infrastructure in developed markets; growing population, increasing urbanization and the need for new infrastructure in developing countries bode well for the market’s future. Renewed focus on renewable energy is set to drive infrastructure spending in the energy sector, spelling sizable growth for welding equipment. Demand for welding machinery is also expected to be driven by product innovations, advances in manufacturing processes as well as technological improvements. Laser sources, beam delivery and work management are some of the technical areas that are witnessing significant advancements. The growth in the market is also expected to be driven by ongoing shift towards automation in welding away from manual welding.

As stated by the new market research report on Welding Machinery, Asia-Pacific represents the largest market worldwide, supported by infrastructure rehabilitation and maintenance programs. Asia-Pacific ranks as the fastest growing market with a CAGR of 3.3% through the analysis period, led by growing construction and infrastructure spending to address needs of growing population and rapid urbanization alongside increasing oil consumption and demand for automobiles. Arc welding machinery represents the single largest product market. The most extensively used welding technique, arc welding is used in a wide range of applications and end-use sectors. Gas welding or oxyfuel welding machinery, a once popular welding technique, is losing relevance in production processes making way for arc and plasma welding techniques.

Major players covered in the report include ACRO Automation Systems, Inc., ARCON Welding, LLC, Carl Cloos Schweisstechnik GmbH, Daihen Corporation, ESAB, Fronius International GmbH, Illinois Tool Works, Inc., Kobe Steel Ltd., Manufacturing Technology, Inc., ROFIN-SINAR Technologies, Inc., Sonics & Materials, Inc., The Lincoln Electric Company, Tianjin Golden Bridge Welding Materials Group and voestalpine Böhler Welding GmbH among others.

The research report titled “Welding Machinery: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for Welding Machinery in terms of US$ for all major geographic markets such as United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, South Korea, Taiwan and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, Mexico and Rest of Latin America). Major segments analyzed in the report include Arc Welding Machinery, Gas Welding & Cutting Machinery, Resistance Welding Machinery, Laser Welding Machinery, Ultrasonic Welding Machinery, Other Welding Machinery, and Electrodes & Other Consumables.

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