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Arc Welding Equipment Market Size

Report ID: GMI10715
Published Date: Aug 2024
Report Format: PDF

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Arc Welding Equipment Market Size

Arc Welding Equipment Market was valued at USD 4.3 billion in 2023 and is estimated to register over 6.5% CAGR between 2024 and 2032, owing to the increasing need for welding equipment in a variety of industries including shipbuilding, offshore exploration, oil & gas, aerospace, automotive, construction, and energy. The demand for welding equipment is also being fueled by consumer preference for automated devices over manual ones.

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Technological advancements in arc welding equipment, such as the development of advanced power sources and welding processes, are also driving market growth. These innovations improve efficiency, reduce welding time, and enhance the overall weld quality, thereby increasing adoption across various applications. Additionally, stringent safety regulations and standards in industrial sectors are further boosting the demand for reliable & high-performance arc welding equipment.

Arc Welding Equipment Market Report Attributes
Report Attribute	Details
Base Year:	2023
Arc Welding Equipment Market Size in 2023:	USD 4.3 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	6.5%
2024 – 2032 Value Projection:	USD 7.5 Billion
Historical Data for:	2021 – 2023
No. of Pages:	210
Tables, Charts & Figures:	290
Segments covered:	Power source type, welding method, end user, and region
Growth Drivers:	Increasing demand from automotive and construction sectors Technological advancements in welding equipment Growth in infrastructure development projects Rising industrial automation Stringent safety regulations and standards
Pitfalls & Challenges:	High initial setup and maintenance costs Skilled labor shortage

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High initial setup & maintenance costs are a significant restraint in the arc welding equipment market. Advanced welding technologies and equipment require substantial investments, which can be prohibitive for Small and Medium-sized Enterprises (SME). These costs include the purchase of sophisticated machines, installation, and ongoing maintenance expenses. Additionally, the need for specialized training for operators further adds to the financial burden. As a result, many SME may opt for cheaper & simpler welding solutions, which will limit market growth. This financial barrier can also hinder the adoption of new technologies, impacting the overall industry innovation and efficiency.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of arc welding equipment was crossed USD 4.3 billion in 2023 and is estimated to register over USD 6.5 CAGR between 2024 and 2032, owing to the increasing need for welding equipment in shipbuilding, offshore exploration, oil & gas, aerospace, automotive, construction, and energy.

The automotive end-user segment recorded over 33% share in 2023 due to the ongoing demand for efficient & high-quality welding solutions

North America arc welding equipment market accounted for over 38% share in 2023, driven by significant investments in infrastructure projects, such as roads, bridges, and commercial buildings.

Lincoln Electric Holdings, Inc., Daihen Corporation, Miller Electric Mfg. LLC (part of ITW Welding), Kemppi Oy, Fronius International GmbH, Panasonic Welding Systems Co., Ltd., Obara Corporation.