Global Welding Equipment Market: Overview

Welding is a process of manufacturing or assembling employed to join materials such as metals and thermoplastics. Metals or thermoplastics are joined together by fusion of the intersecting materials. Welding is an evolving technology. Commonly implemented welding technologies include shielded metal arc welding (SMAW), gas tungsten arc welding (GTAW), gas metal arc welding (GMAW), flux-cored arc welding (FCAW), and submerged arc welding (SAW).

A majority of industrial products are manufactured by using the welding process. Hence, the demand for welding equipment to carry out the welding process is rising globally. However, use of new materials in various industries has led to the requirement for innovative welding technologies. Thus, manufacturers are focusing on the development of new welding machines and equipment to fulfill the rising demand. The concept of robotic laser welding is also gaining popularity across the globe. With help of robotic welding, manufacturers can weld parts in a quicker, better, consistent, and safe manner. The demand for robotic laser welding is high in the automotive industry, owing to the constant need for perfect joining of two parts.

In terms of technology, the welding equipment market can be classified into arc welding, resistance welding, oxy-fuel welding, laser beam welding, and others. The arc welding segment dominated the market for welding equipment in 2017 and is expected to gain maximum traction during the forecast period. Arc welding is the most preferred technology in the manufacture of pipelines, offshore structures, and other process equipment. Arc welding technology is widely applied for chassis parts, owing to ease of continuous joining and high strength and rigidity of joints that the technology provides. Advanced arc welding technologies are also being introduced to improve productivity and efficiency. The increasing trend of reduction in the weight of car bodies is driving the demand for advanced arc welding technologies.

According to the level of automation, the market for welding equipment has been classified into manual, semi-automatic, and automatic. Automatic welding machines are highly preferred across various industries. They are being adopted on a large scale across industries to accelerate the production process and manufacture high-quality products. Manufacturing units across industries are installing automated welding assembly lines to attain maximum speed of the welding process and yield better products. Various industries including automotive and building & construction are becoming highly automated. Hence, companies are adopting automatic welding machines. Manufacturers of welding equipment are also conducting extensive research to develop welding technology and equipment that can help in welding new types of materials used across various industries.

Global Welding Equipment Market: Key Segments

In terms of application, the welding equipment market has been classified into automotive & transportation, building & construction, marine, aerospace & defense, oil & gas, metalworking, and others. Growth of the automotive & transportation sector is anticipated to drive the welding equipment market between 2018 and 2026. Production of cars is set to outpace sales during the forecast period, as global carmakers are strengthening their domestic output. The welding equipment market is expected to benefit from this factor in the near future, as automotive is one of the key end-user industry segments of the market. Various materials such as steel, glass, rubber, copper, aluminum, and plastic are used in different parts of a vehicle. Metals employed in the manufacture of automobiles are joined by using different methods. These include temporary methods such as bolts, screws, and rivets and permanent methods such as welding. Automotive & transportation was the key end-user segment of the welding equipment market in 2017.

Based on region, Europe is anticipated to dominate the global welding equipment market from 2018 to 2026, followed by Asia Pacific. This can be attributed to rising demand from automotive, transportation, electronics, heavy machinery, and construction industries in Europe. Moreover, remarkable increase in energy efficiency offered by robotic welding equipment is anticipated to augment the demand for these equipment in Europe and North America in the near future. Also, significant government investments in the U.S. are expected to fuel the welding equipment market in the country during the forecast period.

Global Welding Equipment Market: Key Players

Key players operating in the global welding equipment market include Daihen Corporation, Air Liquide SA, Bohler Thyssen Welding USA Inc., Panasonic Welding Systems Co. Ltd., Rofin-Sinar Technologies Inc., ARCON Welding, LLC, Carl Cloos Schweisstechnik GmbH, ACRO Automation Systems, Illinois Tool Works Inc., Banner Welder Inc., and Lincoln Electric Holdings Inc. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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