Welding Equipment Market accounted for US$ 12.91 billion in 2020 and is estimated to be US$ 23.24 billion by 2030 and is anticipated to register a CAGR of 6.1%. Welding is the most widely used joining method, with applications in industries as diverse as automotive, aerospace, medical, consumer electronics, construction, and oil and gas. To distinguish between the various welding procedures, the type of energy deposition is critical. Trade between developed countries is dwindling, and many emerging markets are vying for market space to sell their industrial goods. Welding procedures are used to make the majority of these industrial items. Equipment, consumables, and services are all part of the welding sector. Welding methods are heavily used in the industrial sector to combine manufactured objects.
The report " Global Welding Equipment Market, By Technology (Arc Welding, Oxy-fuel Welding, Resistance Welding, Laser Beam Welding, and Others), By End User (Building & Construction, Automotive & Transportation, Marine sector, Oil & Gas, Aerospace & Defence, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
- The new Vantage 441X, the latest edition to Lincoln Electric's Vantage family of diesel engine driven welder/generators, was released in February 2021. This generator offers characteristics that will help you keep your jobsite welding at its best.
- In December 2020, Lincoln Electric released a VRTEX OxyFuel Cutting feature in partnership with The Harris Products Group, a Lincoln Electric firm and the industry leader in cutting, that blends welding and cutting by allowing customers to practise torch cutting safely and realistically.
- ESAB and YASKAWA, a renowned robot and robot system business, established a global partnership agreement in November 2020 to jointly develop and commercialise the XCellerator series of pre-engineered robotic welding systems. Yaskawa will design and build the XCellerator systems, which ESAB will market through its global network.
Analyst View:
Specialized welding methods, such as hot-air laser welding equipment, are likely to become more widespread in the future, especially for covering materials made of plastic and textile. Because of the expanding population, the welding equipment market is predicted to rise at a rapid pace as the world pushes toward industrialization. However, the market's growth is projected to be limited by a lack of suitable regulations and structural integrity difficulties with traditional welding procedures. Furthermore, welding applications necessitate a workforce with particular skill sets, and the manufacturing industry is expected to face labour shortages.
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Key Market Insights from the report:
Global Welding Equipment Market accounted for US$ 12.91 billion in 2020 and is estimated to be US$ 23.24 billion by 2030 and is anticipated to register a CAGR of 6.1%. The global welding equipment market report segments the market on the basis of technology, end user, and region.
- Based on Technology, Global Welding Equipment Market is segmented into Arc Welding, Oxy-fuel Welding, Resistance Welding, Laser Beam Welding, and Others.
- Based on End-User, Global Welding Equipment Market is segmented into Building & Construction, Automotive & Transportation, Marine sector, Oil & Gas, Aerospace & Defence, and Others.
- By Region, the Global Welding Equipment Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Welding Equipment Market:
Key players in the global welding equipment market includes, 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., and Banner Welder Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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