What Has Been the Growth of the Welding Products Market So Far?
The welding products market has seen considerable growth due to a variety of factors.
• In the past few years, there has been a substantial growth in the size of the welding products market. An increase from $16.55 billion in 2024 to $17.54 billion in 2025 is anticipated, exhibiting a compound annual growth rate (CAGR) of 6.0%.
The past growth in this market is due to factors such as heightened industrialization, expansion in the manufacturing sector, growth in infrastructure projects, implementation of welding technology in the automotive sector, and surge in construction activities.
What Are the Future Growth Projections for the Welding Products Market?
The welding products market is expected to maintain its strong growth trajectory in upcoming years.
• Strong augmentation in the welding products market size is projected over the coming years, with a valuation of $23.38 billion expected by 2029, marking a compound annual growth rate (CAGR) of 7.4%.
The growth during this forecast period can be credited to increased demand for welding products from the renewable energy sector, higher appeal for lightweight materials across various sectors, the expanded reach of the oil and gas industry, a greater emphasis on repair and maintenance tasks in antiquated infrastructure, and an upsurge in requisitions for welding products within the defense industry. Key trends for this forecast period incorporate the integration of automation and artificial intelligence, fabrication of environmentally friendly welding technologies and materials, customizing welding products for unique industrial applications, assimilation of data analytics for quality assurance, and a movement towards more compact and portable welding equipment for increased flexibility.
What Are The Core Factors Supporting Growth In The Welding Products Market?
The swift growth of the construction sector is set to fuel the expansion of the welding products market in the coming years. With its diverse range of activities, including infrastructure, maintenance, and building, the construction industry is a key player in the utilization of welding. This technique mainly finds its use in the creation of structural frameworks using metal components. The process involves the joining of trusses, footers, steel I-beams, and columns which act as the backbone of a building's walls, roofs, and floors. As per a report by the Intercontinental Exchange (ICE), a technology firm based in the US, the global construction sector is set to reach a worth of $8 trillion by 2030. This significant growth in the construction industry is a primary driver for the welding products market expansion.
What Are The Major Segments Within The Global Welding Products Market?
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
Subsegments:
1) By Stick Electrodes: Mild Steel Electrodes, Stainless Steel Electrodes, Cast Iron Electrodes
2) By Solid Wires: ER70S-6 Wires, Stainless Steel Solid Wires
3) By Flux Cored Wires: Gas-Shielded Flux Cored Wires, Self-Shielded Flux Cored Wires
4) By SAW Wires And Fluxes: Submerged Arc Welding (SAW) Wires, SAW Fluxes
5) By Other Products: Welding Rods, Welding Accessories
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Which Trends Are Expected To Transform The Welding Products Market?
A significant emerging trend in the welding products market is the growth in technological innovation. Companies within this market are investing in the development of tech-sophisticated products that offer enhanced impact wear resistance and combined abrasion to fulfil the demands of various industrial sectors. For example, in July 2022, Vitesco Technologies, a German drivetrain and powertrain technology firm, introduced a new green laser device, symbolising the latest laser welding technology for eco-friendly production. Based on its usage, green lasers can reduce energy use by around 20% and decrease the CO2 output per laser-welded joint compared to conventional infrared laser systems, which have been the go-to for copper welding until recently.
Who Are the Key Players in the Welding Products Market?
Major companies operating in the welding products market include:
• 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.
What Is The Most Dominant Region In The Welding Products Market?
Asia-Pacific was the largest region in the welding products market in 2024. The regions covered in the welding products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
