Welding Equipment Market Showing Impressive Growth During to Reach $13.9 Billion by 2031

A Closer Look into the Evolving Landscape of the Welding Equipment Market From 2022 to 2031

WILMINGTON, DELAWARE, UNITED STATES, July 23, 2024 /EINPresswire.com/ -- A report on the global welding equipment market by Allied Market Research states that the industry is anticipated to reach $13.9 billion with a noteworthy CAGR of 5.1% by 2031. The market generated $8.3 billion in 2021.

The report provides detailed insights into the research methodology, key findings, market dynamics, significant market segments, top investment opportunities, market size and share analysis, market forecast, and competitive landscape. It is a valuable resource for businesses, investors, shareholders, and newcomers, offering an in-depth understanding of the market. This enables them to make well-informed and educated business choices aligned with their goals.

The research also addresses various aspects, including insights into the overall market structure and size, precise forecasts regarding market share, size, production, and sales volume, the market’s future potential, associated risks and hazards, and prime factors influencing the growth. The global welding equipment industry is gaining momentum due to an expansion of the automotive and transportation industry, a surge in infrastructure development, and robust investments in construction activities. However, the lack of a skilled workforce hampers the industry’s growth to some extent. Nevertheless, technological advancements are projected to open new avenues for the industry in the upcoming era.

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Welding equipment is extensively used in various industries such as automotive, aerospace, ship building, and other fabrication workshops for fusing two or more metal components together. Furthermore, welding equipment is used in building and infrastructure applications. For instance, welding equipment is used for connecting structural components for steel bridges.

The automotive industry has witnessed significant growth in emerging economies. The Indian automotive industry has grown by about 10% from about $100 billion in 2021 to about $110 billion in 2022. Welding equipment are extensively used to fabricate and connect various automotive components such as chassis, transmission components, and exterior components such as doors and hood. Thus, growth of automotive industry boosts the welding equipment market.

Competitive scenario

The market players are thoroughly evaluated to understand their competitive strengths. The research provides insights into their profiles, business segments, product portfolios, business performance, and developments. These players have adopted various strategies such as new partnerships, product launches, expansion, and more to strengthen their position and enhance their market penetration. The report is useful in assessing the business performance, operating segments, developments, and product portfolios of each market player. The top players covered in the report are:

The major players profiled in the welding equipment market forecast report include Coherent, Inc., Fanuc, Illinois Tool Works Inc., Panasonic Industry Co., Ltd., The Lincoln Electric Company, ESAB, ACRO Automation Systems, Inc., Kemppi Oy, Carl Cloos Schweisstechnik GmbH, and Cruxweld Industrial Equipments Pvt. Ltd.

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Prominent trends in welding equipment

Laser welding: One of the latest technologies in welding comprises using laser technology to instantly melt metal and combine two pieces. The laser beam's extreme accuracy allows for precise welding, even with highly complex parts.

Automated welding: Robotic welding utilizes robots to carry out welding tasks. These robots are programmed to execute precise and consistent welds, minimizing the risk of human error and enhancing efficiency. Robotic welding is also safer than manual welding. Since welding can be hazardous, robots can perform welding tasks in dangerous environments, reducing the risk of injury to workers.

Welding cobots: In addition to robots, the manufacturing process also employs cobots. A welding cobot, or collaborative welding robot, is designed to assist human welders during the welding process. Equipped with sensors and advanced programming, it can work alongside human welders safely, without the need for safety barriers or cages.

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Key Findings of the Study:

The report provides an extensive analysis of the current and emerging global welding equipment market trends and dynamics.
By type, the arc welding segment has dominated the welding equipment market, in terms of revenue in 2021 and resistance welding is projected to grow at a significant CAGR during the forecast period.
By technology, the manual segment has registered the highest revenue in 2021 and automatic segment is anticipated to grow at a significant CAGR during the forecast period.
By region, Asia-Pacific is projected to register the highest growth rate in the coming years.
The key players within the global welding equipment market are profiled in this report, and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the welding equipment industry.
The welding equipment market forecast analysis from 2022 to 2031 is included in the report.
In-depth global welding equipment market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.

In conclusion, the industry report on the welding equipment industry provides a comprehensive market overview and actionable insights to help businesses gain a competitive edge. By incorporating the latest developments and trends, companies can strategically formulate their operations and enhance their market position.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

David Correa
Allied Market Research
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