What Fueled The Previous Growth In The Welding Equipment, Accessories, and Consumables Market?
The welding equipment, accessories, and consumables market has seen considerable growth due to a variety of factors.
• In recent times, the welding equipment, accessories, and consumables market has seen significant growth. The market size is set to increase from $26.36 billion in 2024 to $28.23 billion in 2025, maintaining a compound annual growth rate (CAGR) of 7.1%.
The historical growth of this market is attributable to the demand for repair and maintenance, expected expansion in the steel industry, surge in demand from other industries, growth in the automotive sector, and a rise in infrastructure development.
What Is The Expected Growth In The Welding Equipment, Accessories, and Consumables Market Size?
The welding equipment, accessories, and consumables market is expected to maintain its strong growth trajectory in upcoming years.
• The market of welding equipment, accessories, and consumables is anticipated to witness a significant surge in size in the upcoming years, reaching a substantial figure of $37.28 billion in 2029 with a compound annual growth rate (CAGR) of 7.2%.
The proliferation in this timeframe is primarily due to factors such as renewable energy initiatives, worldwide expansion in construction, the emergence of electric vehicles, investments in the oil and gas sector, and increasing need for effective and high-performance welding solutions. The primary trends during this period are expected to be enhancements in the technology of welding equipment and consumables, digitalization and automation, incorporation of the Internet of Things (iot) in welding apparatus, eco-friendly welding consumables, and an emphasis on lightweight materials.
What Main Forces Are Fueling Expansion In The Welding Equipment, Accessories, and Consumables Market?
The welding equipment accessories and consumables market is likely to expand due to the expected surge in demand for the steel industry. The growth is fueled by the fabricating industry's heightened need for welded metals, coupled with the application of welding machinery for methods like stick welding, tungsten inert gas (TIG) welding, and metal inert gas (MIG) welding. As per the World Steel Association, a non-profit organization based in Belgium, it is anticipated that the demand for steel will improve by 0.4% in 2022, touching 1,840.2 million metric tons. By 2023, this demand is foreseen to increase additionally by 2.2%, reaching 1,881.4 million metric tons. Hence, the increasing demand in the steel industry is poised to drive the growth of the welding equipment accessories and consumables market.
What Are The Primary Segments In The Global Welding Equipment, Accessories, and Consumables Market?
The welding equipment, accessories, and consumables market covered in this report is segmented –
1) By Technology: Arc Welding, Oxy-fuel Welding, Other Technologies
2) By Equipment Type: Welding Electrode, Filler Metal, Oxy-fuel Gas
3) By Application: Automotive, Building And construction, Heavy Engineering, Railway And Shipbuilding, Oil And Gas, Other Applications
Subsegments:
1) By Arc Welding: Shielded Metal Arc Welding (SMAW), Gas Metal Arc Welding (GMAW), Gas Tungsten Arc Welding (GTAW)
2) By Oxy-Fuel Welding: Oxy-Acetylene Welding, Oxy-Propane Welding
3) By Other Technologies: Laser Welding, Electron Beam Welding, Friction Welding
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Which Key Trends Are Driving Changes In The Welding Equipment, Accessories, and Consumables Market?
Prominent businesses in the welding equipment, accessories, and consumables market are putting efforts into the production of portable welding machines to upgrade user conveniency and accessibility, thereby facilitating on-site welding operations across multiple industries. Such portable welding machines, lightweight and compact in design, are specifically engineered for easy transportation and functionality in assorted locations. These devices come equipped with auto cable calibration to ascertain precise voltage readings prior to launching the welding process. Thanks to the PowerLog feature, users are able to effortlessly modify welding current intensities throughout the operation. In a noteworthy development in March 2023, Finland's Kemppi GmbH, a manufacturing enterprise, unveiled the Master M 205 and Master M 323 portable welding machines. The unique Weld Assist feature in both models simplifies parameter settings, enabling users to rapidly pick material thickness, joint style, and welding posture to commence welding. A brilliantly illuminated 5" LCD screen on both machines augments visibility in constricted areas, while self-recharging LED work lights enhance safety during poor lit conditions. The machines are designed with adaptability, capable of functioning either with or without mains power, making them ideal for diverse work settings.
Who Are the Key Players in the Welding Equipment, Accessories, and Consumables Market?
Major companies operating in the welding equipment
• accessories
• and consumables market include:
• Air Liquide S. A.
• British Oxygen Company
• Bug-O Systems Inc.
• Carl Cloos Schweisstechnik GmbH
• Cavagna Group UK Ltd.
• Colfax Corporation
• Daihen Corporation
• GCE Holding AB
• Gentec Corporation
• Illinois Tool Works Inc.
• Kobe Steel Ltd.
• Koike Aronson Inc.
• Lincoln Electric Holdings Inc.
• Linde plc
• Matheson Tri-Gas Inc.
• Elektriska Svetsnings-Aktiebolaget
• Fronius International GmbH
• Kemppi Oy
• Obara Corporation
• Panasonic Corporation
• ARCON Welding Equipment LLC
• Costruzioni Elettromeccaniche Annettoni S. p. A.
• Ewm Ag
• Hyundai Welding Co. Ltd.
• Kjellberg Finsterwalde Plasma und Maschinen GmbH
• Lorch Schweißtechnik GmbH
• Miller Electric Mfg LLC
• OTC Daihen Corporation
• Rofin-Sinar Technologies Inc.
• Soyer GmbH
• Voestalpine Böhler Welding GmbH
• Welding Alloys Group Ltd.
What Is The Most Dominant Region In The Welding Equipment, Accessories, and Consumables Market?
Asia-Pacific was the largest region in the welding equipment accessories and consumables market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the welding equipment, accessories, and consumables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
