The global welding equipment, accessories and consumables market size is expected to grow from $21.47 billion in 2021 to $23.08 billion in 2022 at a compound annual growth rate (CAGR) of 7.52%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The welding equipment market is expected to reach $31.17 billion in 2026 at a CAGR of 7.80%.
What is the Global Welding Equipment, Accessories, and Consumables Market?
The welding equipment, accessories, and consumables market consists of sales of welding equipment, accessories, and consumables by entities (organizations, sole traders, and partnerships) that refer to a set of activities used in the welding industry. The welding is the process of joining metals and thermoplastics for creating strong joints between two or more parts by means of coalescence. The filler metals melt during the process and Flux is used as a deoxidizer. These flux and filler metals together are known as welding consumables and are used in various applications and industries.
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What drives the Global Welding Equipment, Accessories, and Consumables Market?
The growing demand for the steel industry is expected to propel the growth of the welding equipment, accessories, and consumables market. The increased demand for welded metals in the fabrication industry and the use of welding equipment is used for applications such as stick welding, tungsten inert gas (TIG) welding, and metal inert gas (MIG) welding. For instance, according to the American Iron and Steel Institute, as of January 2022, in the United States, the domestic raw steel production stood at 1,803,000 net tons while the capability utilization rate was 81.9%. Also, according to IBEF, in FY2021, in India, the production of crude steel and finished steel stood a 102.49 MT and 94.66 MT, respectively. Therefore, the growing demand for the steel industry is driving the growth of the welding equipment, accessories, and consumables market.
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Global Welding Equipment, Accessories, and Consumables Market Segments
The global welding equipment, accessories, and consumables market is segmented:
By Technology: Arc Welding, Oxy-Fuel Welding, Others
By Application: Automotive, Building and Construction, Heavy Engineering, Railway and Shipbuilding, Oil and Gas, Others
By Equipment Type: Welding Electrode, Filler Metal, Oxy-Fuel Gas
By Geography: 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, and Africa.
Welding Equipment, Accessories, and Consumables Global Market Report 2022 provides market size and growth forecasts for the global welding equipment, accessories, and consumables market, global welding equipment, accessories, and consumables market share, welding equipment, accessories, and consumables market segments and geographies, welding equipment, accessories, and consumables market competitive landscape including leading competitors’ revenues, profiles and market shares. The welding equipment, accessories, and consumables market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Welding Equipment, Accessories, and Consumables Industry Players include Air Liquide S.A., British Oxygen Company, Bug-O Systems Inc., Carl Cloos Schweisstechnik, Cavagna Group, Colfax Corporation, Daihen Corporation, GCE Holding AB, Gentec (Shanghai) Corporation, Illinois Tool Works Inc, Kobe Steel Ltd, Koike Aronson Inc., Lincoln Electric, Linde Group and Matheson Tri-Gas Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
