Welding Market Synopsis

The global Welding Market was valued at USD 23.79 billion in 2023 and is likely to reach USD 40.92 billion by 2032, increasing at a CAGR of 5.4% from 2024 to 2032.

Welding is a fabrication process that joins materials, usually metals or thermoplastics, fundamentally by utilizing tall temperature to dissolve the parts together and permit them to cool, causing combination. Common elective strategies incorporate dissolvable welding (of thermoplastics) utilizing chemicals to soften materials being fortified without warm, and solid-state welding forms which bond without softening, such as weight, cold welding, and dissemination holding.

• Metal welding is particular from lower temperature holding techniques such as brazing and fastening, which don't liquefy the base metal (parent metal) and instep require streaming a filler metal to cement their bonds. In expansion to softening the base metal in welding, a filler fabric is regularly included to the joint to make a pool of liquid fabric (the weld pool) that cools to create a joint that, based on weld arrangement (butt, full infiltration, filet, etc.), can be more grounded than the base fabric.
• Welding too requires a shape of shield to ensure the filler metals or dissolved metals from being sullied or oxidized. Numerous distinctive vitality sources can be utilized for welding, counting a gas fire (chemical), an electric arc (electrical), a laser, an electron beam, friction, and ultrasound. While often a mechanical prepare, welding may be performed in numerous distinctive situations, including in open air, beneath water, and in external space. Welding may be an unsafe undertaking and safety measures are required to dodge burns, electric stun, vision harm, inward breath of noxious gasses and vapor, and presentation to intense bright radiation.
• Until the conclusion of the 19th century, the as it where welding prepare was produce welding, which blacksmiths had used for centuries to connect iron and steel by warming and hammering. Arc welding and oxy-fuel welding were among the primary forms to create late within the century, and electric resistance welding followed before long after. Welding technology progressed rapidly amid the early 20th century, as world wars drove the request for reliable and reasonable joining methods. Taking after the wars, a few modern welding techniques were created, counting manual strategies like shielded metal arc welding, presently one of the foremost prevalent welding strategies, as well as semi-automatic and automatic forms such as gas metal arc welding, submerged arc welding, flux-cored arc welding and electroslag welding. Developments continued with the development of laser beam welding, electron beam welding, magnetic pulse welding, and friction stir welding within the last-mentioned half of the century. Today, as the science proceeds to progress, robot welding is commonplace in industrial settings, and analysts proceed to create modern welding strategies and pick up greater understanding of weld quality.

Welding Market Trend Analysis

Industrial Growth in the Market

• The worldwide extension of infrastructure projects essentially impels the request for welding services. As countries contribute in upgrading and building modern foundation, such as bridges, buildings, highways, and transportation systems, welding gets to be a basic component in development and support. For occasion, the development of bridges and high-rise buildings requires vigorous welding strategies to guarantee structural integrity and security. Additionally, the advancement of transportation infrastructure, including railroads and air terminals, requests exact welding work for the get together and repair of tracks, prepare components, and airplane terminal offices. As governments prioritize foundation improvement to boost financial development, the welding market encounters a comparing surge in request for gifted welding administrations and progressed welding advances.
• The development within the fabricating division, especially in businesses like car, aviation, and heavy machinery, is another urgent driver for the welding market. Within the car industry, welding is fundamental for collecting vehicle bodies, outlines, and other basic components. The expanding generation of electric vehicles (EVs) too requires specialized welding methods for battery packs and lightweight materials. In aviation, the request for high-precision welding forms is vital for developing air ship outlines, motors, and other parts that require extraordinary durability and accuracy.
• The heavy machinery industry depends on welding for the manufacture and upkeep of hardware utilized in development, mining, and farming. As these divisions proceed to grow and improve, the require for progressed welding solutions and gifted welders rises, fostering development within the welding market.

Opportunities

Green Technology and Sustainable Practices

• The expanding worldwide emphasis on sustainability and natural responsibility has driven to a developing request for eco-friendly and energy-efficient welding solutions. Traditional welding forms can be energy-intensive and may deliver destructive emanations, inciting the industry to improve towards greener options. For occasion, the advancement of welding procedures that decrease energy consumption, such as laser welding and friction stir welding, adjusts with natural objectives by minimizing carbon impressions and upgrading vitality productivity. Also, the utilize of ecologically inviting welding materials and consumables, which create less toxic exhaust and waste, is getting to be more predominant. By centering on these economical practices, welding companies cannot as it were contributed to natural preservation but to tap into new market portions that prioritize green innovation, thereby expanding their client base and market reach.
• The move towards a circular economy, where reusing and repairing are prioritized over transfer and substitution, makes a reliable request for welding services. In different industries, machinery and auxiliary components frequently require support and repair to extend their life expectancy. Welding plays a crucial part in these forms, empowering the restoration of damaged or worn-out parts to their unique condition or way better. For case, in the car and aviation businesses, welding is utilized to repair vehicle outlines and airplane components, essentially reducing the require for new materials and lowering costs.
• Essentially, in framework support, welding is fundamental for repairing bridges, pipelines, and buildings. By supporting reusing and repair activities, the welding market not as it were contributing to supportability but too benefits from the ceaseless require for talented welding administrations, guaranteeing consistent market development and strength against financial changes.

Market Segment Analysis:

Market Segmented based on Product Type, by Welding Type, by Application, and region.

By Welding Type, Arc Is Expected to Dominate the Market During the Forecast Period 2024-2032

By Welding Type segmented in Arc, Resistance, Oxy-Acetylene, Solid State, and Others (Electron Beam)

• Arc welding's dominance over different businesses can be ascribed to its uncommon flexibility, quality, effortlessness, and cost-effectiveness, making it a favoured choice for a wide extend of applications. Its flexibility lies in its capacity to weld a assortment of metals, counting steel, stainless steel, cast press, aluminium, and copper amalgams, making it reasonable for differing businesses such as development, shipbuilding, and fabricating. It is successful for welding materials of diverse thicknesses, from lean sheets to thick basic components, which is significant in businesses where fabric determinations can shift altogether. Arc welding includes a few methods, counting Shielded Metal Arc Welding (SMAW), Gas Metal Arc Welding (GMAW or MIG), Gas Tungsten Arc Welding (GTAW or TIG), and Flux-Cored Arc Welding (FCAW), each offering specific advantages tailored to different applications.
• The quality of arc welding is obvious within the high tensile quality of the welds it produces, which can withstand heavy loads and stresses, fundamental for auxiliary applications requiring integrity and security. The strength of the welds guarantees resistance to weakness, making them solid for components subjected to repetitive stacking or unforgiving situations. Advanced strategies in bend welding guarantee high-quality welds with minimal defects, meeting the high reliability guidelines requested by industries such as pipeline development and aerospace. Arc welding equipment is for the most part less expensive compared to other welding strategies, such as laser or electron pillar welding, making it available to a wide run of clients, from little workshops to huge mechanical operations.
• The portability of bend welding gear permits for on-site welding in farther or challenging areas, useful in development, shipbuilding, and repair work. Whereas some arc welding strategies require more expertise, others are generally simple to memorize, encouraging the preparing of welders and sending in different settings. The operational costs are kept moo as processes like SMAW do not always require outside shielding gas, and consumables like cathodes and filler wires are affordable. In viable applications, arc welding is irreplaceable in construction for fabricating and amassing steel structures, bridges, buildings, and foundation ventures, guaranteeing their basic astuteness. It is intensely utilized in shipbuilding for joining expansive metal areas and making frames, crucial for withstanding unforgiving marine situations.
• The oil and gas industry depends on bend welding for developing and keeping up pipelines, guaranteeing secure and efficient transport of liquids and gasses over long distances. In manufacturing, arc welding is utilized to deliver a wide extend of items, from heavy machinery to customer goods, due to its versatility to diverse materials and thicknesses. Also, it is commonly utilized for repairing and keeping up hardware, apparatus, and structures, with its transportability and ease of utilize permitting for fast and compelling repairs, indeed in remote areas.
• As the graph depicts, During the surveyed period in 2023, about 23.6 thousand arc welding manipulators and robots were shipped in Japan, while the shipping volume of laser welding manipulators and robots amounted to 659 units.

By Application, Building and Construction held the largest share

By Application segmented as Oil and Gas, Railway and Shipbuilding, Heavy Engineering, Building and Construction, Automobile, Others

• The building and construction industry dominates the welding market due to a few key factors. To begin with, the sheer scale and scope of development projects, including bridges, buildings, roads, and different infrastructure developments, require broad welding work to guarantee auxiliary integrity and security. These large-scale projects regularly include differing welding necessities due to the variety of metals and thicknesses utilized, making flexible welding methods basic. Arc welding strategies, especially Shielded Metal Arc Welding (SMAW) and Flux-Cored Arc Welding (FCAW), are widely utilized since they are appropriate for distinctive situations and conditions experienced in development.
• Quick urbanization and the require for modern infrastructure in creating regions ceaselessly drive the request for welding administrations. This includes not as it were unused developments but too the maintenance and updating of existing structures to oblige developing populaces and urban development. Moreover, exacting regulatory standards within the development industry mandate high safety and quality levels, often specifying welding as the preferred strategy for joining auxiliary components due to its quality and strength. These components collectively guarantee that welding remains a basic and dominant process inside the building and construction division.

Market Regional Insights:

Asia-Pacific Region is Expected to Dominate the Market Over the Forecast Period

• The Asia-Pacific region's dominance in the welding market is driven by a joining of a few basic components. To begin with and first is the region's quick industrialization and urbanization, fueled by critical financial development. Countries such as China and India have developed as financial powerhouses, driving to substantial ventures in foundation improvement. This incorporates the development of bridges, streets, buildings, and open transportation frameworks, all of which depend heavily on welding for basic judgment and security. Besides, quick urbanization in these nations has impelled a surge in request for private and commercial development, advance increasing the require for welding administrations.
• The Asia-Pacific region's extending fabricating division, especially in nations like China, has set its position as a worldwide fabricating centre. With broad fabricating exercises including car, gadgets, shipbuilding, and heavy apparatus generation, there's a reliable tall request for different welding forms. The car industry, in specific, stands out as one of the biggest and fastest-growing segments universally, requiring productive and progressed welding innovations to meet tall generation volumes. Strategies such as MIG welding, resistance spot welding, and laser welding are broadly utilized to guarantee exactness and unwavering quality in car fabricating forms.
• Government investments and steady approaches advance reinforce the welding market within the Asia-Pacific locale. Heavy speculations in framework ventures by governments over the locale, coupled with policies advancing mechanical development, fabricating, and remote venture, have fuelled the development of the welding industry. These framework ventures include thruways, railroads, air terminals, and vitality offices, all of which require significant welding work for development and upkeep.
• Technological advancements play a significant part in driving the region's dominance within the welding showcase. Noteworthy speculations in investigate and improvement have driven to advancements in welding innovations, including automated welding frameworks and high-precision welding strategies. These progressions improve productivity, efficiency, and the quality of welding work, making them progressively embraced in different businesses. Also, the nearness of critical vitality and resource industries further contributes to the request for welding administrations within the Asia-Pacific locale.
• The region's considerable oil and gas industry, alongside the mining division in nations like Australia, depends heavily on welding for developing and keeping up pipelines, capacity tanks, seaward stages, and mining infrastructure. In general, the Asia-Pacific region's dominance within the welding advertise is supported by a combination of quick industrialization, extending fabricating exercises, government back, innovative progressions, and the nearness of noteworthy energy and resource industries. These components collectively fortify the region's driving position within the worldwide welding market.

Market Top Key Players:

The top key companies in the Welding Market are:

• Lincoln Electric Holdings, Inc. (United States)
• The ESAB Group, Inc. (United States)
• Miller Electric Mfg. LLC (United States)
• Fronius International GmbH (Austria)
• Kemppi Oy (Finland)
• Panasonic Welding Systems Co., Ltd. (Japan)
• Colfax Corporation (United States)
• ITW Welding (Illinois Tool Works Inc.) (United States)
• OTC Daihen Corporation (Japan)
• Ador Welding Limited (India)
• DAIHEN Corporation (Japan)
• Arcon Welding Equipment (United States)
• GCE Holding AB (Sweden)
• Air Liquide Welding (France)
• Bohler Welding Group (Austria)
• Bug-O Systems, Inc. (United States)
• Carl Cloos Schweisstechnik GmbH (Germany)
• Dukane Corporation (United States)
• EWM AG (Germany)
• KUKA AG (Germany)
• LORCH Schweißtechnik GmbH (Germany)
• Miyachi America Corporation (United States)
• Nelson Stud Welding, Inc. (United States)
• Sandvik AB (Sweden)
• Sonics & Materials, Inc. (United States)
• Soyer GmbH (Germany)
• Voestalpine Böhler Welding GmbH (Austria)
• Yaskawa America, Inc. - Motoman Robotics Division (United States)
• Welding Alloys Group (United Kingdom)
• Jiangsu Zhongjiang Welding Wire Co., Ltd. (China) and Other Major Players.

Key Industry Developments in the Market:

• In May 2024, Ador Welding's net profit fell 17.21% to Rs 18.67 crore in the quarter ended March 2024, compared to Rs 22.55 crore in the previous quarter ended March 2023. Compared to the quarter ended March 2023, sales increased by 4.76% to 246.70 billion during the previous quarter ending March 2023.
• In April 2024, Air Liquide continues its trajectory with another solid quarter, combining sales growth, performance improvement and investment momentum.

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. WELDING MARKET BY PRODUCT TYPE (2017-2032)
   1. WELDING MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. WELDING EQUIPMENT
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. WELDING CONSUMABLES
7. WELDING MARKET BY WELDING TYPE (2017-2032)
   1. WELDING MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. ARC
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. RESISTANCE
   5. OXY-ACETYLENE
   6. SOLID STATE
   7. AND OTHERS (ELECTRON BEAM)
8. WELDING MARKET BY APPLICATION (2017-2032)
   1. WELDING MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. BUILDING AND CONSTRUCTION
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. OIL AND GAS
   5. RAILWAY AND SHIPBUILDING
   6. HEAVY ENGINEERING
   7. AUTOMOBILE
   8. OTHERS
9. COMPANY PROFILES AND COMPETITIVE ANALYSIS
   1. COMPETITIVE LANDSCAPE
      1. Competitive Benchmarking
      2. WELDING Market Share By Manufacturer (2023)
      3. Industry BCG Matrix
      4. Heat Map Analysis
      5. Mergers & Acquisitions
   2. LINCOLN ELECTRIC HOLDINGS, INC. (UNITED STATES)
      1. Company Overview
      2. Key Executives
      3. Company Snapshot
      4. Role of the Company in the Market
      5. Sustainability and Social Responsibility
      6. Operating Business Segments
      7. Product Portfolio
      8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
      9. Key Strategic Moves And Recent Developments
      10. SWOT Analysis
   3. THE ESAB GROUP, INC. (UNITED STATES)
   4. MILLER ELECTRIC MFG. LLC (UNITED STATES)
   5. FRONIUS INTERNATIONAL GMBH (AUSTRIA)
   6. KEMPPI OY (FINLAND)
   7. PANASONIC WELDING SYSTEMS CO., LTD. (JAPAN)
   8. COLFAX CORPORATION (UNITED STATES)
   9. ITW WELDING (ILLINOIS TOOL WORKS INC.) (UNITED STATES)
   10. OTC DAIHEN CORPORATION (JAPAN)
   11. ADOR WELDING LIMITED (INDIA)
   12. DAIHEN CORPORATION (JAPAN)
   13. ARCON WELDING EQUIPMENT (UNITED STATES)
   14. GCE HOLDING AB (SWEDEN)
   15. AIR LIQUIDE WELDING (FRANCE)
   16. BOHLER WELDING GROUP (AUSTRIA)
   17. BUG-O SYSTEMS, INC. (UNITED STATES)
   18. CARL CLOOS SCHWEISSTECHNIK GMBH (GERMANY)
   19. DUKANE CORPORATION (UNITED STATES)
   20. EWM AG (GERMANY)
   21. KUKA AG (GERMANY)
   22. LORCH SCHWEIßTECHNIK GMBH (GERMANY)
   23. MIYACHI AMERICA CORPORATION (UNITED STATES)
   24. NELSON STUD WELDING, INC. (UNITED STATES)
   25. SANDVIK AB (SWEDEN)
   26. SONICS & MATERIALS, INC. (UNITED STATES)
   27. SOYER GMBH (GERMANY)
   28. VOESTALPINE BÖHLER WELDING GMBH (AUSTRIA)
   29. YASKAWA AMERICA, INC. - MOTOMAN ROBOTICS DIVISION (UNITED STATES)
   30. WELDING ALLOYS GROUP (UNITED KINGDOM)
   31. JIANGSU ZHONGJIANG WELDING WIRE CO., LTD. (CHINA)
10. GLOBAL WELDING MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By PRODUCT TYPE
       4. Historic And Forecasted Market Size By WELDING TYPE
       5. Historic And Forecasted Market Size By APPLICATION
       6. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
11. INVESTMENT ANALYSIS
12. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies