Welding Equipment Market Latest Trends, Along With Major Key Players Forecast 2022-2030 in Market Research Community
- June 1, 2023, 5:48 a.m.
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Welding Equipment Market Insights
The Welding Equipment Market was valued at USD 23.7 billion in 2022, with a projected CAGR of 4.8% during the forecast period. By 2030, it is expected to reach a market value of USD 36.1 billion.
The significant growth of the welding equipment market is driven by the demand for welding solutions in diverse industries such as automotive, construction, and aerospace. Welding is an essential process in manufacturing that involves joining two metal pieces through heat or pressure. This market is categorized based on application, type, and segment.
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The market for welding equipment is categorized by type into three segments: arc welding, resistance welding, and other types. Arc welding, which uses an electric arc to melt metal, is the most widely utilized type of welding. Resistance welding, on the other hand, involves applying heat and pressure to join metal parts. The market also includes other types of welding, such as ultrasonic welding, laser welding, and gas welding.
The welding equipment market is divided into several applications, including automotive, construction, aerospace, and other industries. Presently, the automotive sector dominates the market, attributed to the need for lightweight materials and the rising production of vehicles. The construction industry also plays a significant role in the welding equipment market, driven by the increasing demand for infrastructure development worldwide.
Market Segment:
By Type :
Automatic and Manual
By Technology:
Resistance Welding, Gas Welding, Forge Welding, Braze Welding, Arc Welding, and Others
By Material:
Metal, Glass, Plastic, and Others
By End-User:
Automotive, Aviation & Shipbuilding, Chemicals, Construction, Mining, Oil & Gas, Power, and Others
By Geography:
North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa
The welding equipment market is classified into two segments: equipment and consumables. The equipment segment holds the dominant share of the market due to the high cost of welding equipment, which includes welding machines, welding guns, and welding electrodes. Consumables, such as welding wire, electrodes, and shielding gases, are also crucial components used during the welding process for its success.
The welding equipment market application is witnessing significant growth due to the increasing demand for efficient and reliable welding solutions across various industries. The market is expected to continue its growth trajectory, primarily driven by the expansion of the construction and automotive industries globally. Additionally, the introduction of new welding technologies, such as robotic welding, is expected to further stimulate market growth. Overall, the welding equipment market presents significant opportunities for players in the industry to expand their operations and increase their market share.
The study provides answers to the following key questions:
- What type of customers buying the products and services from companies operating in the Welding Equipment Market?
- What will be the roadmap for the product manufacturers operating in the Welding Equipment Market for the forecast period, 2023-2030?
- What are the recent developments in the competitive landscape to look out for during the estimated period?
- What are the major trends influencing customers’ lives and their buying behaviour?
- How can brands best communicate with the customers they intend to target?
- When, where and how the customers want to use or consume the products or services?
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