Key Companies Covered in Welding Equipment Market Research Report are KOBE STEEL, LTD., Miller Electric Mfg. LLC, The Lincoln Electric Company, Panasonic Industry Europe GmbH, ESAB, ACRO, Automation Systems Inc., Denyo, voestalpine Bohler Welding GmbH, Air Liquide, Ador Welding Ltd., among others
PUNE, India, Dec. 6, 2019 /PRNewswire/ -- The global Welding Equipment Market size is projected to reach USD 18.79 billion by 2026, thereby exhibiting a CAGR of 6.3% during the forecast period. However, the market size was USD 11.58 billion in 2018. This information is published in a recent report by Fortune Business Insights, titled, "Welding Equipment Market Size, Share & Industry Analysis, By Technology (Arc Welding, Resistance Spot Welding, MIG/TIG Welding, Laser Beam Welding, and Others), By Automation Type (Automatic, Semi-Automatic, and Manual), By Application (Automotive, Building & Construction, Heavy Engineering, Railway & Shipbuilding, and Others) and Regional Forecast, 2019-2026." As per the report, deployment of several technologies, namely, AI-based robots and remote control to increase production would boost the Welding Equipment Market growth during the forthcoming years.
Rising Investment by Automotive Manufacturing Companies to Drive Growth
In the emerging countries, namely, Japan, South Korea, India, and China, the demand for automotive vehicles is rising day by day. It is gradually occurring in the European nations as well. In China, Europe, and the U.S., the sale of new vehicles is expected to grow by 30 percent whereas, in Europe, 55 percent of the new car sales will be fully electrified in the coming years.
Moreover, in India, numerous companies present in the automotive market are investing huge sums in the automotive sector. Increasing disposable income is also one of the drivers. Mercedes Benz, for instance, has boosted its manufacturing capacity of the luxury cars to 20,000 units per year. Hyundai is planning to invest around USD 1 billion by 2020 in India. All these factors would propel growth of the market in the coming years.
Arc Welding Segment to Lead Owing to its Cost-effective Nature
In terms of technology, the market is segregated into resistance spot welding, laser beam welding, arc welding, MIG/TIG welding, and others. Out of these, the arc welding segment is anticipated to exhibit immense growth owing to its cost-effective nature. Also, it provides a smooth and flexible welding process that is implemented across several industries. It is mainly used to fabricate steel in the automobile and construction sectors. Resistance spot welding will grow remarkably on account of innovative welding of metal sheets possessing low-allow components and robust strength. Apart from these segments, the MIG/ TIG welding is likely to grow moderately. It is necessary to weld a variety of medium or high range of nickel alloys, aluminum, and steel.
Fortune Business Insights lists out some of the most prominent companies operating in the Welding Equipment Market. They are as follows:
KOBE STEEL, LTD.
Miller Electric Mfg. LLC
The Lincoln Electric Company
Panasonic Industry Europe GmbH
ACRO Automation Systems Inc.
voestalpine Bohler Welding GmbH
Ador Welding Ltd.
Asia Pacific to Dominate: Increasing Development of Manufacturing Industry to Favor Growth
The market can be geographically fragmented into Europe, the Middle East and Africa, North America, Asia Pacific, and Latin America. Amongst these, Asia Pacific had generated USD 3.99 billion Welding Equipment Market share in 2018. In India and China, the manufacturing industry is developing day by day owing to the rising government initiatives to bolster the development of the sector. The government of India, for instance, has launched the 'Make in India' awareness program to promote the growth of the manufacturing industry. Europe, on the other hand, will exhibit notable growth owing to the increasing expansion of the automotive industry. In North America, the swiftly developing building and construction sector in Canada and the U.S. would result in market growth.
ESAB, a producer of standard welding equipment, headquartered in Sweden, unveiled its new product Versotrac EWT 1000. It is considered to be one of the most user-friendly and versatile tractors for carbon arc gouging, MIG/MAG, and submerged arc welding available in the market. The company's modularized and rugged components can be turned into smaller units by disassembling. They can be hence, carried to the remote venues in confinement. They can be reassembled in minutes without the usage of tools.
Welding Market Size, Share & Industry Analysis, By Product Type (Welding Equipment and Welding Consumables), By Welding Type (Arc Welding, Spot Welding, MIG/TIG Welding, Laser Welding and Others), By Application (Automotive, Building & Construction, Heavy Engineering, Railway & Shipbuilding, Oil & Gas and Others) and Regional Forecast, 2019-2026
Welding Wires Market Size, Share & Industry Analysis, By Type (Metal Inert Gas (MIG) Wire, Tungsten Inert Gas (TIG) Wire and Others), By Industry (Automotive, Building & Construction, Oil & Gas and Others) and Regional Forecast, 2019-2026
Welding Consumables Market Size, Share & Industry Analysis, By Type (Stick Electrodes, Solid Wires, Flux-cored Wires and SAW Wires & Fluxes), By Application (Heavy Engineering, Automotive, Railways, Construction, Shipbuilding and Others) and Regional Forecast, 2019-2026
Collaborative Robots Market Size, Share & Industry Analysis, By Payload Capacity (Upto 5 Kg, 6-10 Kg, 11 Kg and Above), By Application (Welding, Material Handling, Quality Testing, Painting/Spraying, Assembling, Others), By Industry (Automotive, Electronics & Semi-Conductors, Food & Beverages, Retail, Metal & Machining, Rubber & Plastic, Others) and Regional Forecast, 2019-2026
Industrial Robots Market Size, Share and Industry Analysis By Robot Type (Articulated, SCARA, Cylindrical, Cartesian/Linear, Parallel, Others), By Application (Pick and Place, Welding & Soldering, Material Handling, Assembling, Cutting & Processing, Others), By End Use Industry (Automotive, Electrical & Electronics, Healthcare & Pharmaceutical, Food & Beverages, Rubber & Plastic, Metals & Machinery, Others) and Regional Forecast, 2019 - 2026
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