Welding Products Global Market Report 2024

Description

“Welding Products Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on welding products market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
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Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for welding products? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The welding products market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Product: Stick Electrodes; Solid Wires; Flux Cored Wires; Saw Wires and fluxes; Other Products
2) By Technology: Arc Welding; Resistance Welding; Oxy Fuel Welding; Laser Beam Welding; Other Technologies
3) By Application: Automotive And Transportation; Building And Construction; Marine; Other Applications
Companies Mentioned: The Lincoln Electric Company; Colfax Corporation; Illinois Tool Works Inc.; Kemppi Oyj; Kiswel Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Welding products encompass materials or consumables employed in the welding process to fabricate parts and finished products across diverse industries. These products utilize a filler material in welding, facilitating the joining of metals like stainless steel, aluminum, nickel, copper alloys, cobalt, and titanium.

The primary types of welding products include stick electrodes, solid wires, flux-cored wires, saw wires and fluxes, and others. Stick electrodes are consumables utilized for repair work, known for being self-shielded and reducing the need for additional equipment. Various technologies, such as arc welding, resistance welding, oxy-fuel welding, laser beam welding, and others, are employed in the welding process. This is implemented across verticals like the automobile and transportation sector, building and construction, marine, and others.

The welding products market research report is one of a series of new reports from The Business Research Company that provides welding products market statistics, including welding products industry global market size, regional shares, competitors with a welding products market share, market segments, market trends and opportunities, and any further data you may need to thrive in the welding products industry. This welding products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The welding products market size has grown strongly in recent years. It will grow from $15. 76 billion in 2023 to $16. 78 billion in 2024 at a compound annual growth rate (CAGR) of 6. 5%. The growth observed in the historic period can be attributed to several factors, including the rise in industrialization, the growth of the manufacturing sector, the expansion of infrastructure projects, the adoption of welding technology in the automotive industry, and the increase in construction activities.

The welding products market size is expected to see strong growth in the next few years. It will grow to $21. 71 billion in 2028 at a compound annual growth rate (CAGR) of 6. 6%. The anticipated growth in the forecast period can be attributed to several factors, including the rise in demand for welding products in the renewable energy sector, the growing demand for lightweight materials across various industries, the expansion of the oil and gas industry, an increasing focus on repair and maintenance activities in aging infrastructure, and a rising demand for welding products in the defense industry. Major trends expected in the forecast period include the adoption of automation and artificial intelligence in welding processes, the emergence of eco-friendly welding technologies and materials, customization of welding products for specific industrial applications, the integration of data analytics for quality control, and a shift towards more portable and compact welding equipment for enhanced flexibility.

The anticipated rapid growth in the construction sector is poised to drive the welding products market during the forecast period. The construction sector, encompassing diverse activities such as infrastructure development, building construction, and maintenance, extensively relies on welding for fabricating structural frameworks from metal components. The use of welding is prevalent in joining trusses, steel I-beams, columns, and footers, which are crucial elements in supporting a building's walls, roof, and floors. For example, projections from the Intercontinental Exchange (ICE), a US-based technology company, suggest that the global construction sector is expected to reach $8 trillion by 2030. Hence, the swift expansion of the construction sector is a key factor propelling the growth of the welding products market.

The projected increase in demand for manufactured goods is set to be a driving force behind the growth of the welding products market. Manufactured goods, produced through various manufacturing processes involving the conversion of raw materials into finished or semi-finished products, span across industries like automotive, aerospace, heavy machinery, electronics, furniture, infrastructure, energy, and defense. Recent data from Eurostat, a UK-based government statistical agency, indicates a 0. 2% rise in manufactured industrial output in the European area and a 0. 1% increase in the European Union between May and April 2023. This surge in demand for manufactured goods is expected to contribute significantly to the growth of the welding products market.

A prominent trend in the welding products market is the technological advancement observed in welding products. Key players in the market are actively developing technologically advanced products with enhanced impact wear resistance and combined abrasion to meet the evolving needs of various industries. As an illustration, in July 2022, Vitesco Technologies, a Germany-based automotive supplier, introduced new green laser equipment, a sustainable laser welding technology that can potentially reduce energy consumption by up to 20% and decrease the CO2 footprint per laser-welded joint compared to conventional infrared laser systems.

Major companies in the welding products market are strategically focusing on the development of robotic welding products to strengthen their market position and expand their product offerings. Robotic welding products, characterized by automated systems utilizing robots for welding operations, offer improved precision and efficiency in manufacturing processes. For instance, Kemppi Oy, a Finland-based welding company, unveiled the Kemppi AX MIG Welder in April 2023, a robust robotic welding system designed for seamless integration, user-friendly operation, and advanced welding technology, specifically tailored for high-demand, continuous, and automated welding applications.

In November 2022, Manufacturing Technology, Inc. (MTI), a US-based contract precision manufacturer, acquired Friction Welding Technologies Pvt. Ltd. (FWT) for an undisclosed amount. This strategic acquisition enhances MTI's product line and global reach, adding 40,000 square feet of space in India. It provides FWT with additional resources to strengthen its position in the markets it serves, given its expertise in direct drive friction welding.

Major companies operating in the in the welding products market report are The Lincoln Electric Company, Colfax Corporation, Illinois Tool Works Inc., Kemppi Oyj, Kiswel Inc., Obara Corporation, Senor Metals Pvt. Ltd., Tianjin Bridge Welding Materials Co. Ltd., Elektriska Svetsnings-Aktiebolaget, Ador Welding Ltd., Panasonic Life Solutions India Pvt. Ltd., Rofin-Sinar Technologies Inc., Sonics & Materials Inc., Fronius International GmbH, Daihen Corporation, Voestalpine AG, Arcon Welding Products Private Limited, Air Liquide SA, Carl Cloos Schweisstechnik GmbH, OTC DAIHEN Inc., Mitco Weld Products Pvt. Ltd., voestalpine Bohler Welding Group GmbH, Miller Electric Mfg. Co., GCE Group Ltd., EWM AG, Kjellberg Finsterwalde Plasma und Maschinen GmbH, Lincoln Electric Holdings Inc., FZE Manufacturing Solutions LLC, Copelands Inc., Harvan Manufacturing Ltd., Kooima Company, PT Tech LLC, William L Bonnell Company Inc., Pexco LLC, Arcair Appliance Industrial Co. Ltd., Harris Calorific Inc.

Asia-Pacific was the largest region in the welding products market in 2023. The regions covered in the welding products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the welding products market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The welding products market consists of sales of filler metals, TIG torches, ground clamps, and welding cables. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r10670

1. Executive Summary

2. Welding Products Market Characteristics

3. Welding Products Market Trends And Strategies

4. Welding Products Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Welding Products Market Size and Growth

5.1. Global Welding Products Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Welding Products Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Welding Products Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Welding Products Market Segmentation

6.1. Global Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Stick Electrodes
Solid Wires
Flux Cored Wires
Saw Wires and fluxes
Other Products
6.2. Global Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Arc Welding
Resistance Welding
Oxy Fuel Welding
Laser Beam Welding
Other Technologies
6.3. Global Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Automotive And Transportation
Building And Construction
Marine
Other Applications

7. Welding Products Market Regional And Country Analysis

7.1. Global Welding Products Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Welding Products Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Welding Products Market

8.1. Asia-Pacific Welding Products Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. 4. Asia-Pacific Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Welding Products Market

9.1. China Welding Products Market Overview
9.2. China Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9. 4. China Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Welding Products Market

10.1. India Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Welding Products Market

11.1. Japan Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Welding Products Market

12.1. Australia Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Welding Products Market

13.1. Indonesia Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Welding Products Market

14.1. South Korea Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Welding Products Market

15.1. Western Europe Welding Products Market Overview
15.2. Western Europe Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. 4. Western Europe Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Welding Products Market

16.1. UK Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Welding Products Market

17.1. Germany Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Welding Products Market

18. 5. France Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 6. France Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 7. France Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Welding Products Market

19. 9. Italy Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Welding Products Market

20.13. Spain Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Welding Products Market

21.1. Eastern Europe Welding Products Market Overview
21.2. Eastern Europe Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. 4. Eastern Europe Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Welding Products Market

22.1. Russia Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Welding Products Market

23.1. North America Welding Products Market Overview
23.2. North America Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. 4. North America Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Welding Products Market

24.1. USA Welding Products Market Overview
24.2. USA Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. 4. USA Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Welding Products Market

25.1. Canada Welding Products Market Overview
25.2. Canada Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. 4. Canada Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Welding Products Market

26.1. South America Welding Products Market Overview
26.2. South America Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. 4. South America Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Welding Products Market

27.1. Brazil Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Welding Products Market

28.1. Middle East Welding Products Market Overview
28.2. Middle East Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. 4. Middle East Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Welding Products Market

29.1. Africa Welding Products Market Overview
29.2. Africa Welding Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Welding Products Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. 4. Africa Welding Products Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Welding Products Market Competitive Landscape And Company Profiles

30.1. Welding Products Market Competitive Landscape
30.2. Welding Products Market Company Profiles
- 30.2.1. The Lincoln Electric Company
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1. 4. Financial Performance
- 30.2.2. Colfax Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2. 4. Financial Performance
- 30.2.3. Illinois Tool Works Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3. 4. Financial Performance
- 30.2. 4. Kemppi Oyj
  - 30.2. 4.1. Overview
  - 30.2. 4.2. Products and Services
  - 30.2. 4.3. Strategy
  - 30.2. 4. 4. Financial Performance
- 30.2. 5. Kiswel Inc.
  - 30.2. 5.1. Overview
  - 30.2. 5.2. Products and Services
  - 30.2. 5.3. Strategy
  - 30.2. 5. 4. Financial Performance

31. Global Welding Products Market Competitive Benchmarking

32. Global Welding Products Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Welding Products Market

34. Welding Products Market Future Outlook and Potential Analysis

34.1 Welding Products Market In 2028 - Countries Offering Most New Opportunities
34.2 Welding Products Market In 2028 - Segments Offering Most New Opportunities
34. 3 Welding Products Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35. 4. Research Inquiries
35. 5. The Business Research Company
35. 6. Copyright And Disclaimer