Welding equipment market
Global sales of welding equipment is estimated to be valued at US$ 10,456.6 Mn at the end of 2016, and will see a CAGR of 7.9% from 2016 to 2024.
The global welding equipment market is likely to witness sustained growth to 2024 because of a burgeoning automobile and construction industry, in particular in emerging economies such as India and China.
Rapid growth in the transportation industry and an increasing demand from the oil and gas industry is also driving growth, as is the increasing number of end-use applications that use different types of welding equipment and techniques. However, the slow adoption of advanced welding technologies in developing countries such as India is likely to hamper market growth to 2024. One of the major trends likely to be observed is an increasing need for welding automation technology in the fabrication industry.
The global welding equipment market is segmented on the basis of:
- Welding technology (arc welding, resistance welding, oxy-fuel welding, laser beam welding, and others).
- Level of automation (manual, semi-automatic, automatic).
- Application (automobile and transportation, building and construction, marine and others)
- Region (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, and Middle East & Africa).
In the welding type category, the arc welding segment is estimated to be valued at US$ 4,979.1 Mn by the end of 2016 and is expected to reach US$ 8,580.0 Mn by the end of 2024, expanding at a CAGR of 7.0% over the forecast period. The laser beam welding segment is anticipated to create an incremental dollar opportunity of US$ 1,772.9 Mn between 2016 and 2024.
In the level of automation category, the automatic segment is estimated to account for a 65.9% share of the overall value of the welding equipment market by the end of 2016, followed by the semi-automatic segment with a 25.4% share.
In the application category, the automobile and transportation segment is estimated to reach 394.2 thousand units by the end of 2016 and is anticipated to increase to 603.7 thousand units by 2024, showing a volume CAGR of 5.5% over the forecast period. The building & construction segment is estimated to reach 345.4 thousand units by the end of 2016 and is anticipated to increase to 491.9 thousand units by 2024, exhibiting a volume CAGR of 4.5% over the forecast period.
Among regions, the Asia Pacific is the largest market for welding equipment and is expected to remain dominant throughout the forecast period. The welding equipment market in the APAC region is expected to expand 1.9X in terms of value between 2016 and 2024. The APAC welding equipment market is estimated to be valued at US$ 3,441.0 Mn by the end of 2016 and is expected to represent an incremental dollar opportunity of US$ 3,146.5 Mn between 2016 and 2024. The MEA welding equipment market is expected to be valued at US$ 1,640.4 Mn by the end of 2024, expanding at a CAGR of 8.6% during the forecast period.
[edit] Related articles on Designing Buildings Wiki
Featured articles and news
Restoring Great Yarmouth's Winter Gardens
Transforming one of the least sustainable constructions imaginable.
Construction Skills Mission Board launch sector drive
Newly formed government and industry collaboration set strategy for recruiting an additional 100,000 construction workers a year.
New Architects Code comes into effect in September 2025
ARB Architects Code of Conduct and Practice available with ongoing consultation regarding guidance.
Welsh Skills Body (Medr) launches ambitious plan
The new skills body brings together funding and regulation of tertiary education and research for the devolved nation.
Paul Gandy FCIOB announced as next CIOB President
Former Tilbury Douglas CEO takes helm.
UK Infrastructure: A 10 Year Strategy. In brief with reactions
With the National Infrastructure and Service Transformation Authority (NISTA).
Ebenezer Howard: inventor of the garden city. Book review.
The Grenfell Tower fire, eight years on
A time to pause and reflect as Dubai tower block fire reported just before anniversary.
Airtightness Topic Guide BSRIA TG 27/2025
Explaining the basics of airtightness, what it is, why it's important, when it's required and how it's carried out.
Construction contract awards hit lowest point of 2025
Plummeting for second consecutive month, intensifying concerns for housing and infrastructure goals.
Understanding Mental Health in the Built Environment 2025
Examining the state of mental health in construction, shedding light on levels of stress, anxiety and depression.
The benefits of engaging with insulation manufacturers
When considering ground floor constructions.
Lighting Industry endorses Blueprint for Electrification
The Lighting Industry Association fully supports the ECA Blueprint as a timely, urgent call to action.