Welding Equipment Market by Equipment Type (Arc Welding, Resistance Welding, Oxy-Fuel Welding, Laser Welding), Automation Level (Manual, Semi-Automatic, Fully Automated), Application (Automotive & Transportation, Building & Construction, Aerospace & Defense, Shipbuilding, Energy), & Region for 2024-2031

Welding Equipment Market Valuation – 2024-2031

The growing demand across various industries, including automotive, construction, and energy, has been a significant driver for the welding equipment market. Advancements in welding technology, automation, and rising infrastructure projects, particularly in developing countries, are expected to propel market growth. According to the analyst from Verified Market Research, the global welding equipment market is expected to reach a valuation of USD 23.1 Billion by 2031, up from an estimated USD 14.17 Billion in 2024, with a CAGR of 6.30 % from 2024 to 2031.

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Welding Equipment Market: Definition/Overview

Welding equipment encompasses a wide range of devices and tools used to fuse metals or thermoplastics, typically through the application of heat, pressure, or both. The welding process is vital in various manufacturing and construction applications, and the equipment market includes arc welding machines, resistance welders, oxy-fuel welders, and modern laser welding tools. Automation in welding has gained traction with the integration of robotics and artificial intelligence (AI), improving precision and operational efficiency. Additionally, the growing need for lightweight materials in the automotive and aerospace sectors is driving demand for specialized welding techniques such as aluminum and titanium welding.

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What are the Key Drivers of the Welding Equipment Market?

Global infrastructure projects and building activities are rapidly expanding, driving up demand for welding equipment. According to a report, employment of welders, cutters, solderers, and brazers is expected to expand by 8% between 2020 and 2030, with around 49,200 opportunities available per year. The U.S. Infrastructure Investment and Jobs Act of 2021 authorizes $550 billion in new federal infrastructure spending, resulting in strong demand for welding equipment across multiple construction industries.

The expanding automobile industry is pushing up demand for welding equipment. The International Organization of Motor Vehicle Manufacturers (OICA) forecasts that worldwide vehicle production will reach 85.4 million units in 2022, up 5.7% from the previous year. Modern vehicles require an average of 4,000 to 5,000 welds throughout manufacture, therefore welding equipment is vital in automotive manufacturing. The growth of electric vehicles has pushed demand even more, with the International Energy Agency estimating that electric car sales will treble in 2021 to 6.6 million units, opening up new potential for improved welding technology.

The implementation of automated and robotic welding methods is propelling the industry forward. According to the International Federation of Robotics (IFR), the global installation of industrial robots is expected to reach 517,385 units in 2021, with welding applications accounting for around 44% of this total. According to the US Department of Energy, automated welding systems enhance production by up to 400% over human welding while improving weld quality and consistency. This considerable efficiency advantage is prompting firms across industries to invest in improved welding equipment.

What are the Key Challenges of Welding Automation in the Market?

The welding industry is experiencing a significant lack of trained welders, prompting the use of automation solutions. According to the American Welding Society (AWS), the United States will have a shortage of around 375,000 welders by 2026. This shortfall is mostly the result of an aging workforce and a lack of new entrants into the sector. According to the United States Bureau of Manpower Statistics, the typical age of welders is 55, and over half are likely to retire within the next decade, intensifying the push for automated welding solutions to bridge the manpower gap.

Welding automation adoption is driven by increasing production volumes and quality requirements in the automotive industry. According to the International Federation of Robotics (IFR), the automotive sector will account for almost 50% of all industrial robot deployments in 2022, with welding applications the most common. Furthermore, the U.S. Department of Energy estimates that current automobiles have an average of 4,500 spot welds, making automated welding systems critical for fulfilling production goals and ensuring consistency.

Furthermore, stringent workplace safety rules, as well as the need to reduce worker exposure to hazardous conditions, are moving welding automation forward. According to the Occupational Safety and Health Administration (OSHA), welders face a variety of health hazards, including metal fume fever, respiratory problems, and burns. Welding-related injuries account for around 2,000 lost-time incidents per year, according to the United States Bureau of Labor Statistics. Companies that employ automated welding systems cut workplace accidents by up to 50%, according to the National Institute for Occupational Safety and Health (NIOSH).

Category-Wise Insights

What are the Key Drivers for Arc Welding in the Equipment Type Segment?

Arc welding plays a crucial role in construction and infrastructure projects where steel structures, pipelines, and other critical components require robust and durable joints. With the ongoing global focus on infrastructure development, particularly in emerging economies, the demand for arc welding equipment continues to rise. According to the World Bank, infrastructure investments are projected to increase globally, with countries like India, China, and Brazil leading the charge in large-scale construction projects. These investments directly fuel the demand for reliable and cost-effective welding techniques, making arc welding a preferred choice.

Arc welding is known as a cost-effective welding method compared to more advanced techniques such as laser or friction welding. It requires less expensive equipment, making it accessible for small and medium-sized enterprises (SMEs) and large-scale industries alike. Additionally, arc welding is performed with minimal setup, making it ideal for a wide range of applications in industries like manufacturing, automotive, and shipbuilding. This versatility, coupled with its low operational cost, makes arc welding equipment a key driver in the overall welding equipment market.

Furthermore, the automotive sector heavily relies on arc welding for manufacturing vehicle frames, exhaust systems, and other components. With the rapid adoption of electric vehicles (EVs) and the growing automotive manufacturing industry in regions like Asia-Pacific and North America, arc welding remains a critical process for producing lightweight yet durable vehicle components. The increasing focus on automating welding processes within the automotive industry also enhances the demand for advanced arc welding systems, which are integrated with robotics to boost productivity and precision.

How Does the Demand for Laser Welding Shaping the Market?

Laser welding is expected to witness the highest growth rate among welding equipment types during the forecast period. One of the biggest advantages of laser welding is its high precision, which allows it to create small, intricate welds with minimal distortion to the surrounding material. Unlike traditional welding methods that generate significant heat, laser welding produces focused heat in a localized area, reducing the heat-affected zone (HAZ). This precision makes laser welding ideal for sensitive materials like titanium and aluminum, which are commonly used in automotive and aerospace manufacturing.

Laser welding is known for its high-speed processing capabilities, enabling faster production rates compared to traditional welding techniques. The high energy density of laser beams allows materials to be welded quickly and efficiently, increasing throughput in manufacturing processes. This speed is particularly valuable in the automotive industry, where manufacturers are continuously seeking to reduce cycle times and increase productivity.

Furthermore, with the rise of electric vehicle (EV) production, laser welding has become indispensable for welding lightweight materials like aluminum and magnesium alloys, which are commonly used in battery enclosures and vehicle body components. Laser welding’s ability to complete complex welds in a fraction of the time compared to arc or resistance welding is reshaping the way manufacturers optimize their production lines.

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Country/Region-wise Acumens

What are the Key Factors that Contribute to Asia Pacific Edge in the Market?

According to VMR Analyst, Asia Pacific is estimated to dominate the welding equipment market during the forecast period. The Asia-Pacific region, particularly countries like China and India, has seen significant industrialization and infrastructure growth. This has fueled demand for welding equipment in the construction, automotive, and heavy machinery sectors. According to the Asian Development Bank (ADB), Asia requires an investment of $26 trillion from 2016 to 2030 for infrastructure development, averaging $1.7 trillion per year. This rapid development is boosting the need for welding technologies to support large-scale projects.

Asia-Pacific is the largest automotive manufacturing hub in the world, with countries like China, Japan, and India driving production. According to the International Organization of Motor Vehicle Manufacturers (OICA), China produced over 26 million vehicles in 2021, accounting for approximately 32% of global production. The automotive sector’s reliance on welding equipment for vehicle assembly and manufacturing plays a crucial role in the market’s expansion.

Furthermore, several governments in the Asia-Pacific region have implemented policies to boost domestic manufacturing industries, which directly impact welding equipment demand. For instance, India’s Make in India initiative aims to transform India into a global manufacturing hub, with the government setting a target of increasing the manufacturing sector’s contribution to 25% of GDP by 2025. Such initiatives increase the demand for welding solutions across multiple industries, from electronics to heavy machinery.

How Do Government Initiatives Shape the Market Landscape in the North America?

The North American region is estimated to exhibit the highest growth within the welding equipment market during the forecast period. North America, particularly the U.S., has a robust automotive and aerospace industry, heavily reliant on advanced welding technologies. According to the U.S. Bureau of Economic Analysis (BEA), the U.S. aerospace and defense industry contributed $382 billion to the nation’s GDP in 2021. The extensive use of welding in aircraft and vehicle production supports the growing demand for welding equipment in these sectors.

The North American region leads in adopting innovative welding technologies, such as robotic and automated welding systems. According to the Robotic Industries Association (RIA), in 2022, the North American robotics market saw a record high, with over 44,000 robots sold, largely for manufacturing and welding purposes. The integration of advanced automation solutions is driving the market for welding equipment across industries like automotive, construction, and manufacturing.

Furthermore, the U.S. government’s significant investments in infrastructure projects drive the demand for welding equipment. The Bipartisan Infrastructure Law (2021) allocates $1.2 trillion for upgrading bridges, roads, and other public infrastructures. These projects require substantial welding work, contributing to increased demand for welding equipment and tools in the region.

Competitive Landscape

The global welding equipment market’s competitive landscape is characterized by intense competition among key players, with major companies investing in research and development to introduce innovative products.

Some of the prominent players operating in the welding equipment market include:

• Lincoln Electric Holdings, Inc.
• Colfax Corporation (ESAB)
• Miller Electric Mfg. LLC
• Fronius International GmbH
• Kobe Steel, Ltd.
• The Linde Group
• Panasonic Corporation
• Illinois Tool Works Inc. (ITW)
• Air Liquide
• Arcon Welding Equipment, LLC

Latest Developments

• In January 2023, Lincoln Electric Holdings announced the launch of a new line of automated robotic welding systems, designed to improve precision and reduce production time in high-demand industries such as automotive and heavy machinery.
• In August 2022, Miller Electric Mfg. LLC introduced an AI-powered welding machine capable of detecting weld defects in real time, further enhancing the efficiency and safety of the welding process.

Report Scope

Welding Equipment Market, By Category

Equipment Type:

• Arc Welding
• Resistance Welding
• Oxy-Fuel Welding
• Laser Welding

Automation Level:

• Manual
• Semi-Automatic
• Fully Automated

Application:

• Automotive & Transportation
• Building & Construction
• Aerospace & Defense
• Shipbuilding
• Energy

Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa