Overview and Scope
Welding products refer to the materials or consumables that are used to carry out the welding process to create parts and finished products for a wide range of industries. These are the products that use a filler material in the welding process for joining metals such as stainless steel, aluminum, nickel, and copper alloys, cobalt, and titanium.
Sizing and Forecast
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 in the historic period can be attributed to rise in industrialization, growth of manufacturing sector, expansion of infrastructure projects, adoption of welding technology in the automotive industry, increasing 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 growth in the forecast period can be attributed to rise in demand for welding products in the renewable energy sector, growing demand for lightweight materials in various industries, expansion of the oil and gas industry, increasing focus on repair and maintenance activities in aging infrastructure, increasing demand for welding products in the defense industry . Major trends in the forecast period include adoption of automation and artificial intelligence, eco-friendly welding technologies and materials, customization of welding products for specific industrial applications, integration of data analytics for quality control, shift towards more portable and compact welding equipment for flexibility.
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Segmentation & Regional Insights
The welding products market covered in this report is segmented –
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
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
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Major Driver Impacting Market Growth
The rapid expansion of the construction sector is expected to propel the growth of the welding products market in the forecast period. The construction sector is a very diverse industry that includes various activities such as infrastructure, buildings, and maintenance. Welding is mostly used in the production of structural frameworks from metal components. Welding is used for joining trusses, footers, steel I-beams and columns that maintain a building’s walls, roof, and floors. For instance, according to the Intercontinental Exchange (ICE), a US-based technology company the global construction sector is expected to grow to $8 trillion by 2030. Therefore, the rapid expansion in the construction sector drives the growth of the welding products market.
Key Industry Players
Major companies operating 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 Böhler 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.
The welding products market report table of contents includes:
1. Executive Summary
2. Welding Products Market Characteristics
3. Welding Products Market Trends And Strategies
4. Welding Products Market – Macro Economic Scenario
5. Global Welding Products Market Size and Growth
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26. South America Welding Products Market
27. Brazil Welding Products Market
28. Middle East Welding Products Market
29. Africa Welding Products Market
30. Welding Products Market Competitive Landscape And Company Profiles
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