How Has the Plasma Welding Market Evolved Historically and What is its Current Size?
The plasma welding market has seen considerable growth due to a variety of factors.
• The size of the plasma welding market has witnessed a significant expansion over recent years. The market value will rise from $1.39 billion in 2024 to $1.48 billion in 2025, with a compound annual growth rate (CAGR) of 6.3%.
The notable growth observed in the historic period stems from factors like the heightened demand for high precision welding, an upswing in automotive manufacturing, a growing application of plasma welding in shipbuilding, an increasing growth in the metal fabrication industry, as well as an escalation in spending within the defense and aerospace sectors.
What Does Future Hold for The Plasma Welding Market By 2029?
The plasma welding market is expected to maintain its strong growth trajectory in upcoming years.
• The plasma welding market is predicted to escalate significantly in the forthcoming years, increasing to a substantial $1.87 billion in 2029 with a 6.0% compound annual growth rate (CAGR). The projected growth over this period can be ascribed to several factors such as amplified demand for precision welding, increasing requirement for high grade welds, expansion of the aerospace and shipbuilding sectors, and a heightened need for automated welding systems. Major developments anticipated in the forecasted duration encompass the adoption of pioneering plasma welding technologies, instituting real-time monitoring and control structures, combining plasma welding with robotic systems, incorporation of advanced cooling systems, and an inclination towards environmentally friendly plasma welding processes.
What Are The Primary Growth Drivers In The Plasma Welding Market?
The surge in the automotive industry is set to kindle the expansion of the plasma welding market. The escalating demand for autonomous and electric vehicles alongside global economic development is constituting to the boom of the automotive industry. By delivering precise, top-notch welds for intricate metal components, plasma welding is enhancing the structural soundness, overall durability, and performance of vehicles. As an illustration, the American automotive manufacturing increased about 8.5% in 2023, producing over 7.6 million cars, a significant rise compared to preceding years, as stated by the European Automobile Manufacturers Association, a Belgium-based consortium representing the EU's automotive sector in March 2024. Consequently, the burgeoning automotive industry is fueling the progress of the plasma welding market.
What Is The Segmentation Of The Global Plasma Welding Market?
The plasma weldingmarket covered in this report is segmented –
1) By Product Type: Manual, Mechanized
2) By Distribution Channel: Online, Offline
3) By End User: Machinery And Equipment, Aerospace And Defense, Automotive, Other End Users
Subsegments:
1) By Manual: Handheld Plasma Welding Equipment, Portable Plasma Welding Systems, Manual Plasma Welding Torches, Accessories For Manual Systems
2) By Mechanized: Automated Plasma Welding Machines, Robotic Plasma Welding Systems, CNC Plasma Welding Equipment, Mechanized Plasma Cutting And Welding Systems
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What New Trends Are Influencing The Plasma Welding Market?
Leading firms in the plasma welding market are forging strategic alliances with the aim to bolster their technological proficiencies. By merging expertise, resources, and technologies through strategic collaborations, these companies are able to propel innovation and improve the quality of their product offerings. For instance, in March 2024, Ador Welding, a plasma welding equipment manufacturer based in India, entered into a partnership with Hindalco, an aluminium manufacturing firm also based in India. The aim was to boost the welding performance via a joint effort. The initiative is designed to equip trainers with a broad understanding of diverse welding techniques, including plasma welding. This comprehensive program not only enriches the trainers' knowledge and technical skills, but also ensures that they are capable of effectively imparting and guiding others in advanced welding techniques, such as plasma cutting and welding.
Who Are the Key Players In The Plasma Welding Market?
Major companies operating in the plasma welding market are:
• Panasonic Holdings Corporation
• Nippon Steel Corporation
• Air Liquide S.A.
• voestalpine Böhler Welding GmbH
• Illinois Tool Works Inc.
• Yaskawa Electric Corporation
• Lincoln Electric Holdings Inc.
• KUKA Robotics Corporation
• The ESAB Group Inc.
• Hypertherm Inc.
• Fronius International GmbH
• Miller Electric Manufacturing LLC
• Messer Cutting Systems GmbH
• EWM GmbH
• TWI Ltd.
• Otto Bihler Maschinenbau GmbH & Co KG
• Kemppi Oy
• Carl Cloos Schweisstechnik GmbH
• Koike Aronson Inc.
• Abicor Binzel Technoweld Pvt. Ltd.
• Technocrats Plasma Systems Pvt Ltd
• Hobart Brothers Company
• Weldlogic Inc.
• DAIHEN Corporation
• Kjellberg Finsterwalde Plasma und Maschinen GmbH
What Are The Regional Insights Into The Plasma Welding Market?
Asia-Pacific was the largest region in the plasma welding market in 2024. The regions covered in the plasma welding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
