Welding Equipment Accessories And Consumables Market
Welding Equipment, Accessories & Consumables Market Forecasts to 2030 - Global Analysis By Product (Welding Machines, Welding Consumables and Welding Accessories), Welding Process, Distribution Channel, Application, End User and By Geography
According to Stratistics MRC, the Global Welding Equipment, Accessories & Consumables Market is accounted for $29.45 billion in 2023 and is expected to reach $46.07 billion by 2030 growing at a CAGR of 6.7% during the forecast period. Welding equipment, accessories, and consumables encompass a range of tools and materials essential for various welding processes. Equipment ensures safe and efficient welding operations. Accessories aid in precise work and maintenance. Consumables are vital for creating strong and durable welds. Together, these components form a comprehensive ecosystem that facilitates the joining of metal parts in various industries, contributing to the fabrication of structures and products worldwide.
According to OICA (Organisation Internationale des Constructeurs d'Automobiles), the global production of passenger cars amounted to 67.14 million by 2022.
Market Dynamics:
Driver:
Increasing demand for energy infrastructure
The escalating demand for energy infrastructure, fuelled by urbanization, industrialization, and global development initiatives, serves as a significant driver for the welding equipment, accessories & consumables. With the expansion of renewable energy projects, oil and gas exploration, and construction of power plants, there arises a crucial need for robust welding solutions to fabricate, repair, and maintain the infrastructure. This surge in demand propels the market for welding equipment, accessories, and consumables, as industries seek efficient and reliable welding technologies to meet the growing requirements of energy infrastructure projects worldwide.
Restraint:
Fluctuating raw material prices
Welding products heavily rely on materials like steel, alloys, and gases, whose prices are susceptible to market fluctuations, geopolitical factors, and supply chain disruptions. When raw material costs rise unpredictably, manufacturers face pressure to either absorb the higher expenses or pass them onto consumers, potentially leading to decreased demand or reduced margins. Such volatility can hinder investment in innovation and expansion within the industry, impacting its overall growth and stability.
Opportunity:
Growing construction sector
As construction projects proliferate globally, including residential, commercial & infrastructure developments, there emerges a robust demand for welding solutions to fabricate, assemble, and maintain structures. Welding is integral to joining metal components in building frameworks, bridges, pipelines, and other infrastructure projects. The construction sector's expansion drives the need for advanced welding equipment, consumables, and accessories to ensure efficiency, precision, and durability in construction processes. This escalating demand propels growth within the welding industry, as it caters to the evolving requirements of the construction sector worldwide.
Threat:
High initial investment
The substantial upfront costs associated with acquiring welding equipment, accessories, and consumables can deter potential buyers, especially in industries with tight budget constraints. Additionally, the need for specialized training and maintenance further escalates the total cost of ownership, making it challenging for companies to invest in welding technologies. This can limit market growth and adoption, particularly among smaller enterprises and emerging economies.
Covid-19 Impact
The covid-19 pandemic has posed challenges to the welding equipment, accessories & consumables market, leading to disruptions in the supply chain, manufacturing operations, and project timelines. Lockdown measures, reduced industrial activities, and supply chain constraints have slowed down the demand for welding equipment and consumables across various sectors. However, the market has shown resilience with the gradual recovery of industries, especially in sectors like construction, automotive, and manufacturing, driving the adoption of welding technologies to meet pent-up demand and address infrastructure projects, albeit with some lingering uncertainties.
The sheet metal fabrication segment is expected to be the largest during the forecast period
The sheet metal fabrication segment is estimated to have a lucrative growth. In sheet metal fabrication, welding equipment, accessories & consumables play a vital role in joining metal components efficiently and precisely. Welding machines, including MIG, TIG, and spot welders, along with specialized accessories such as welding guns and torches, enable the fusion of sheet metal parts with accuracy and strength. Consumables like welding electrodes, wires, and shielding gases ensure the integrity of welds. These technologies empower sheet metal fabricators to create complex structures and assemblies for various industries.
The construction segment is expected to have the highest CAGR during the forecast period
The construction segment is anticipated to witness the highest CAGR growth during the forecast period. Welding equipment, accessories & consumables play a vital role in the construction industry, facilitating the fabrication and assembly of structural components, frameworks, and infrastructure elements. In construction applications, these equipment helps to join metal components efficiently. This integration of welding technologies enables construction projects to meet stringent safety and quality standards while enhancing productivity and efficiency on-site.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to rapid industrialization, infrastructure development, and expanding manufacturing sectors. Countries like China, India, Japan, and South Korea are witnessing significant demand for welding equipment and consumables across various industries. Additionally, government initiatives aimed at infrastructure development and urbanization are fueling market growth. The region's growing emphasis on technological advancements and automation in welding processes is also contributing to the expansion of the market in the Asia-Pacific region.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to infrastructure redevelopment, automotive manufacturing, and investments in renewable energy projects. Countries like Germany, France, and the UK are leading the demand for welding equipment and consumables in sectors such as construction, automotive, aerospace, and shipbuilding. Furthermore, the focus on sustainability and energy efficiency in manufacturing processes is spurring the demand for innovative welding solutions across various industries in the European region.
Key players in the market
Some of the key players profiled in the Welding Equipment, Accessories & Consumables Market include Lincoln Electric Holdings Inc., Emerson Electric Limited, Illinois Tool Works, Fronius International GmbH, Colfax Corporation, Kemppi Oy, Panasonic Welding Systems Corporation, Ador Welding Limited, Arcon Welding Equipment, Air Liquide S.A, Bond Technologies Inc., Kobe Steel Limited, Daihen Corporation, Nippon Avionics Limited, Schunk GmbH and Telsonic AG.
Key Developments:
In August 2023, Bond Technologies, Inc. launched high-volume production FSW machine designed for demanding production environments. It has dual shuttles with a quick-change fixture interface, and can also operate in synchronous mode for larger parts. With its high speed, real-time data acquisition, weld pass/fail notification, and full part-traceability, companies can assure both quantity and quality of the final product.
In March 2023, Kemppi introduced new portable and versatile welding equipment for MIG/MAG welding: Master M 205 and Master M 323. The new welding equipment is perfectly suited for industrial welding in shipyards and repair shops, and furthermore for dedicated hobby welders.
Products Covered:
• Welding Machines
• Welding Consumables
• Welding Accessories
Welding Processes Covered:
• Arc Welding
• Resistance Welding
• Oxy-Fuel Welding & Cutting
• Laser Welding
• Electron Beam Welding
• Plasma Arc Welding
• Ultrasonic Welding
• Other Welding Processes
Distribution Channels Covered:
• Direct Sales
• Distributors/Wholesalers
• Online Retailers
• Specialty Stores
• Other Distribution Channels
Applications Covered:
• Structural Welding
• Pipeline Welding
• Sheet Metal Fabrication
• Pressure Vessel Fabrication
• Welding for Art & Sculpture
• Other Applications
End Users Covered:
• Automotive
• Construction
• Aerospace & Defense
• Shipbuilding
• Oil & Gas
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Welding Equipment, Accessories & Consumables Market, By Product
5.1 Introduction
5.2 Welding Machines
5.3 Welding Consumables
5.4 Welding Accessories
5.4.1 Helmets
5.4.2 Gloves
5.4.3 Jackets
5.4.4 Torches
5.4.5 Rods
5.4.6 Other Welding Accessories
6 Global Welding Equipment, Accessories & Consumables Market, By Welding Process
6.1 Introduction
6.2 Arc Welding
6.3 Resistance Welding
6.4 Oxy-Fuel Welding & Cutting
6.5 Laser Welding
6.6 Electron Beam Welding
6.7 Plasma Arc Welding
6.8 Ultrasonic Welding
6.9 Other Welding Processes
7 Global Welding Equipment, Accessories & Consumables Market, By Distribution Channel
7.1 Introduction
7.2 Direct Sales
7.3 Distributors/Wholesalers
7.4 Online Retailers
7.5 Specialty Stores
7.6 Other Distribution Channels
8 Global Welding Equipment, Accessories & Consumables Market, By Application
8.1 Introduction
8.2 Structural Welding
8.3 Pipeline Welding
8.4 Sheet Metal Fabrication
8.5 Pressure Vessel Fabrication
8.6 Welding for Art & Sculpture
8.7 Other Applications
9 Global Welding Equipment, Accessories & Consumables Market, By End User
9.1 Introduction
9.2 Automotive
9.3 Construction
9.4 Aerospace & Defense
9.5 Shipbuilding
9.6 Oil & Gas
9.7 Other End Users
10 Global Welding Equipment, Accessories & Consumables Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Lincoln Electric Holdings Inc.
12.2 Emerson Electric Limited
12.3 Illinois Tool Works
12.4 Fronius International GmbH
12.5 Colfax Corporation
12.6 Kemppi Oy
12.7 Panasonic Welding Systems Corporation
12.8 Ador Welding Limited
12.9 Arcon Welding Equipment
12.10 Air Liquide S.A
12.11 Bond Technologies Inc.
12.12 Kobe Steel Limited
12.13 Daihen Corporation
12.14 Nippon Avionics Limited
12.15 Schunk GmbH
12.16 Telsonic AG
List of Tables
1 Global Welding Equipment, Accessories & Consumables Market Outlook, By Region (2021-2030) ($MN)
2 Global Welding Equipment, Accessories & Consumables Market Outlook, By Product (2021-2030) ($MN)
3 Global Welding Equipment, Accessories & Consumables Market Outlook, By Welding Machines (2021-2030) ($MN)
4 Global Welding Equipment, Accessories & Consumables Market Outlook, By Welding Consumables (2021-2030) ($MN)
5 Global Welding Equipment, Accessories & Consumables Market Outlook, By Welding Accessories (2021-2030) ($MN)
6 Global Welding Equipment, Accessories & Consumables Market Outlook, By Helmets (2021-2030) ($MN)
7 Global Welding Equipment, Accessories & Consumables Market Outlook, By Gloves (2021-2030) ($MN)
8 Global Welding Equipment, Accessories & Consumables Market Outlook, By Jackets (2021-2030) ($MN)
9 Global Welding Equipment, Accessories & Consumables Market Outlook, By Torches (2021-2030) ($MN)
10 Global Welding Equipment, Accessories & Consumables Market Outlook, By Rods (2021-2030) ($MN)
11 Global Welding Equipment, Accessories & Consumables Market Outlook, By Other Welding Accessories (2021-2030) ($MN)
12 Global Welding Equipment, Accessories & Consumables Market Outlook, By Welding Process (2021-2030) ($MN)
13 Global Welding Equipment, Accessories & Consumables Market Outlook, By Arc Welding (2021-2030) ($MN)
14 Global Welding Equipment, Accessories & Consumables Market Outlook, By Resistance Welding (2021-2030) ($MN)
15 Global Welding Equipment, Accessories & Consumables Market Outlook, By Oxy-Fuel Welding & Cutting (2021-2030) ($MN)
16 Global Welding Equipment, Accessories & Consumables Market Outlook, By Laser Welding (2021-2030) ($MN)
17 Global Welding Equipment, Accessories & Consumables Market Outlook, By Electron Beam Welding (2021-2030) ($MN)
18 Global Welding Equipment, Accessories & Consumables Market Outlook, By Plasma Arc Welding (2021-2030) ($MN)
19 Global Welding Equipment, Accessories & Consumables Market Outlook, By Ultrasonic Welding (2021-2030) ($MN)
20 Global Welding Equipment, Accessories & Consumables Market Outlook, By Other Welding Processes (2021-2030) ($MN)
21 Global Welding Equipment, Accessories & Consumables Market Outlook, By Distribution Channel (2021-2030) ($MN)
22 Global Welding Equipment, Accessories & Consumables Market Outlook, By Direct Sales (2021-2030) ($MN)
23 Global Welding Equipment, Accessories & Consumables Market Outlook, By Distributors/Wholesalers (2021-2030) ($MN)
24 Global Welding Equipment, Accessories & Consumables Market Outlook, By Online Retailers (2021-2030) ($MN)
25 Global Welding Equipment, Accessories & Consumables Market Outlook, By Specialty Stores (2021-2030) ($MN)
26 Global Welding Equipment, Accessories & Consumables Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
27 Global Welding Equipment, Accessories & Consumables Market Outlook, By Application (2021-2030) ($MN)
28 Global Welding Equipment, Accessories & Consumables Market Outlook, By Structural Welding (2021-2030) ($MN)
29 Global Welding Equipment, Accessories & Consumables Market Outlook, By Pipeline Welding (2021-2030) ($MN)
30 Global Welding Equipment, Accessories & Consumables Market Outlook, By Sheet Metal Fabrication (2021-2030) ($MN)
31 Global Welding Equipment, Accessories & Consumables Market Outlook, By Pressure Vessel Fabrication (2021-2030) ($MN)
32 Global Welding Equipment, Accessories & Consumables Market Outlook, By Welding for Art & Sculpture (2021-2030) ($MN)
33 Global Welding Equipment, Accessories & Consumables Market Outlook, By Other Applications (2021-2030) ($MN)
34 Global Welding Equipment, Accessories & Consumables Market Outlook, By End User (2021-2030) ($MN)
35 Global Welding Equipment, Accessories & Consumables Market Outlook, By Automotive (2021-2030) ($MN)
36 Global Welding Equipment, Accessories & Consumables Market Outlook, By Construction (2021-2030) ($MN)
37 Global Welding Equipment, Accessories & Consumables Market Outlook, By Aerospace & Defense (2021-2030) ($MN)
38 Global Welding Equipment, Accessories & Consumables Market Outlook, By Shipbuilding (2021-2030) ($MN)
39 Global Welding Equipment, Accessories & Consumables Market Outlook, By Oil & Gas (2021-2030) ($MN)
40 Global Welding Equipment, Accessories & Consumables Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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