SAN FRANCISCO, Nov. 4, 2019 /PRNewswire/ -- The global welding equipment market size is expected to reach USD 18,170.0 million by 2025, registering a CAGR of 6.9% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. A notable rise in manufacturing and construction activities across the globe is expected to boost the growth of the market over the forecast period. Increasing adoption of automated solutions is a key trend observed in the market.
Key suggestions from the report:
In terms of technology, the oxy-fuel segment is anticipated to witness remarkable growth over the forecast period. This growth can be attributed to its advantages such as its portable nature and low maintenance costs
In terms of equipment, the automatic segment is expected to emerge as the fastest-growing segment over the next six years. Notable developments in software, coupled with improved capabilities of robots to weld any kind of material, is expected to strengthen the growth prospects of the segment
The marine application segment is anticipated to register significant growth over the forecast period. The rise in international trade and commerce, coupled with the growing trend of luxury cruising, is expected to boost the growth prospects of the marine application segment over the forecast period
The Asia Pacific regional market is expected to retain its dominance in the market over the forecast period. The growth can be attributed to the developments observed in the automotive sector, a notable rise in industrial activities, and expanding construction and transportation industries
Prominent industry participants include Illinois Tool Works Inc., ACRO Automation Systems Inc., voestalpine Böhler Welding GmbH, Carl Cloos Schweisstechnik GmbH, Panasonic Industry Europe GmbH, Air Liquide, Daihen Corporation, and Coherent-ROFIN.
The growing demand for lightweight cars across the globe is expected to drive the demand for advanced products over the next six years. Introduction of new technologies in the market is expected to generate opportunities for market players. For instance, development of the friction stir welding technology for the automotive sector, which helps avoid toxic fumes and eliminates the use of solvents required for degreasing is further expected to drive the market growth.
The global rise in demand for oil and natural gas and an increase in exploration and production activities are expected to propel the growth of the market over the forecast period. The growing acceptance of advanced equipment, processes, and technologies among automakers are also likely to propel the growth of the market in the near future. Furthermore, the introduction of advanced and smarter automatic machines, which help companies minimizes their dependency on manual labor, is expected to further drive the welding equipment market in the near future.
Manufacturers are focusing on developing new technologies and related education and training content, which can improve safety, quality, and productivity of fusing processes across industries. For instance, in November 2018, Panasonic Industry Europe GmbH and DVS, a German welding industry association, announced collaboration to train operators of automatic equipment following industry guidelines. The training program helped the company to avoid a shortage of expert and experienced resources.
Grand View Research has segmented the global welding equipment market on the basis of technology, equipment, end-use, and region:
Welding Equipment Technology Outlook (Revenue, USD Million, 2014 - 2025)
Laser Beam Welding
Welding Equipment Outlook (Revenue, USD Million, 2014 - 2025)
Welding Equipment End-use Outlook (Revenue, USD Million, 2014 - 2025)
Building & Construction
Oil & Gas
Welding Equipment Regional Outlook (Revenue, USD Million, 2014 - 2025)
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.