Welding Market to Experience a CAGR of 4.7% during 2023-2030; Substantial Application of Welding Processes in Automotive and Aeronautic Industries to Boost Market Growth

The global welding market size was valued at USD 23.75 billion in 2022. The market is projected to grow from USD 24.73 billion in 2023 to USD 34.18 billion by 2030, exhibiting a CAGR of 4.7% during the forecast period. Fortune Business Insights™ presents this information in its report titled, " Welding Market Size, Share & COVID-19 Impact Analysis, By Product Type (Equipment and Consumables), By Welding Type (Arc, Resistance, Oxy-Acetylene Gas, Solid State, and Others (Electron Beam)), By Application (Automotive, Building & Construction, Heavy Engineering, Railway & Shipbuilding, Oil & Gas, and Others (Aerospace)), and Regional Forecast, 2023-2030.”

During the forecast period, the welding market share is anticipated to grow at a great pace. The growth of the market is due to developments such as laser welding and robotics. It is one of the most important sectors of the manufacturing and construction industries. Due to the continuous growth in construction activities and population increase, the demand for fabrication is projected to remain strong from 2023-2030.

Impact of COVID-19 Hindered Construction and Fabrication Industries to Limit Market Growth

The recent uncertain outbreak of COVID-19 has widely impacted the economy and labor market and affected several manufacturing industries. Industrial manufacturing operations have faced a huge downturn after the outbreak of the COVID-19 pandemic across many prominent economies in the market. The forecast years are projected to provide a moderate recovery to the market due to the reopening of the manufacturing facilities and government initiatives to try and reshape the economic downfall during the pandemic.

Valk Welding and Oqton Engaged in a Partnership to Drive Market Growth

Valk Welding and Oqton declared a strategic collaboration to facilitate the production of automated robotic welding. As a result, Oqton’s software will become a part of Valk Welding’s Automatic Robotic Programming (ARP) solution for high-mix, low-volume (HMLV) production. It will enable 10X faster programming than traditional offline programming solutions.

Subsequent Applications of Welding Processes in Automotive and Aeronautic Industries to Boost Market Growth

Resistance seam, resistance spot, and friction are some of the soldering processes automotive manufacturers use to fabricate automotive vehicles. Further, aerospace applications have also observed a notable increment in fabrication applications. Additionally, the emergence of cost-effective soldering processes provides positive market development for the welding market growth.

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Competitive Landscape

Leading Players Adopt Acquisition Strategies to Stay Competitive

Due to disruptions created by the COVID-19 pandemic, most market players weren't ready to risk their businesses and make losses by entering volatile markets. However, as the impacts of COVID-19 began subsiding, companies were seen expanding their businesses across new markets. For instance, Imperial Dade acquired Empire Distributors to operate; major players are adopting 91 new distribution centers across the U.S.

Notable Industry Development:

• November 2022: Friction Welding Technologies Pvt. Ltd. (FWT) was acquired by Manufacturing Technology, Inc., a direct drive friction soldering company. Through the acquisition, MTI aims to increase its product offerings in North America and Europe.

LIST OF KEY COMPANIES PROFILED:

• Lincoln Electric (U.S.)


• KOBE STEEL, LTD (Japan)


• ESAB (U.S.)


• Fronius International GmbH (Austria)


• ZULFI (Saudi Arabia)


• KISWEL CO., LTD. (South Korea)


• CS HOLDINGS CO., LTD. (South Korea)


• RME MIDDLE EAST (Dubai, UAE)


• voestalpine BÖHLER Edelstahl GmbH (Austria)


• capilla GmbH (Germany)


• Tianjin Golden Bridge Welding Materials Group International Trading Co., Ltd. (China)


• Miller Electric Mfg. LLC (U.S.)

Further Report Findings:

• Asia Pacific holds the largest share and is projected to grow from 2023 to 2030. Due to the local registered and unregistered manufacturers, construction and heavy engineering industries are growing, mostly in countries such as India, China, and Japan.


• China is anticipated to dominate the Asia Pacific region with the highest CAGR and market share during the forecast period due to a large number of equipment manufacturers and the growing number of consumables producers.


• North America and Europe are anticipated to grow gradually in the coming years due to major manufacturers operating in this region


• The Middle East & Africa and South America are projected to grow moderately due to increasing construction expenditure in these regions.

Table of Segmentation