SAN FRANCISCO, June 29, 2022 /PRNewswire/ -- The global welding products market size is expected to reach USD 19.94 billion by 2030 with CAGR of 4.4% from 2022 to 2030, as per a new report by Grand View Research Inc. Rapid industrialization and growing investments in infrastructural developments in major economies such as the U.S., UK, China, India, and Brazil have propelled the market growth.
Key Industry Insights & Findings from the report:
- ARC welding technology segment accounted for USD 4.96 billion in 2021 and is projected to witness strong growth over the forecast period owing to its characteristics such as flexibility and the ability to perform under any conditions.
- The stick electrodes segment is projected to grow at a CAGR of 4.5% from 2022 to 2030, on account of its rising demand for stick electrodes for the welding of a wide range of components in various application areas on account of their ability to increase the welding strength as well as their high corrosion resistance & tensile strength.
- The market in the Asia Pacific is expected to exhibit the highest growth for the welding products market, expected to account for USD 9.57 billion by 2030 owing to the robust growth of the construction and automotive industry in the region.
- Governments of various economies are investing in infrastructure projects as it is the backbone of a healthy economy. The rising investments in infrastructure development are also expected to ramp up the economic recovery from the effects of COVID-19.
- The market is characterized by the presence of various small- and large-scale vendors, resulting in a moderate level of concentration in the market. Major manufacturers are focusing on their capacity expansions for developing various types of welding products.
Read 198-page market research report for more Insights, "Welding Products Market Size, Share & Trends Analysis Report By Technology, By Product (Stick Electrodes, Solid Wires, Flux-cored Wires, Saw Wires, and Fluxes, Others), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Welding Products Market Growth & Trends
Oxy-fuel welding technology is gaining significant growth on account of its growing use in industrial manufacturing applications. The welding equipment and products used in this technology are highly cost-efficient which promotes its implementation in welding fillet, butt, and lap joints with the object thickness of up to 5mm.
The market is fragmented in nature with the presence of a number of global and regional players. Several manufacturers in the market have integrated themselves across the value chain on account of increasing opportunities and moderate growth rates. This helps the market players grab a higher market share.
Welding Products Market Segmentation
Grand View Research has segmented the global welding products market based on technology, product, and region:
Welding Products Market - Technology Outlook (Revenue, USD Million, 2017 - 2030)
- Arc Welding
- Resistance Welding
- Oxy-Fuel Welding
- Laser Beam Welding
Welding Products Market - Product Outlook (Revenue, USD Million, 2017 - 2030)
- Stick Electrodes
- Solid Wires
- Flux-Cored Wires
- Saw Wires and Fluxes
Welding Products Market - Regional Outlook (Revenue, USD Billion, 2017 - 2030)
- North America
- United Kingdom
- Asia Pacific
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa
List of Key Players in Welding Products Market
- Colfax Corporation
- Veostalpine AG
- The Lincoln Electric Company
- Illinois Tool Works, Inc.
- Hyundai Welding Co., Ltd.
- Obara Corporation
- Kiswel, Inc.
- Sandvik AB
- Tianjin Bridge Welding Materials Co., Ltd.
- Kemppi Oy
- Mitco Weld Products Pvt. Ltd.
- Senor Metals Pvt. Ltd.
- Metrode Products Ltd.
- Ador Welding Limited
Check out more related studies published by Grand View Research:
- Welding Fume Extraction Equipment Market - The global welding fume extraction equipment market size is expected to reach USD 5.9 billion by 2025, according to a new report by Grand View Research, Inc. The mandatory health and safety workplace regulations compliance which are globally applicable has been a major factor driving market growth. In addition, increasing demand from various end-use industries such as construction, automotive, shipbuilding, and others for a clean environment to increase the operators' productivity, is further fueling the market growth.
- Welding Equipment Market - The global welding equipment market size is expected to reach USD 18,170.0 million by 2025, registering a CAGR of 6.9% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. A notable rise in manufacturing and construction activities across the globe is expected to boost the growth of the market over the forecast period. Increasing adoption of automated solutions is a key trend observed in the market.
- Metal Fabrication Equipment Market - The global metal fabrication equipment market size is projected to reach USD 92.84 billion by 2025, expanding at CAGR of 3.90%, according to a new report by Grand View Research, Inc. The market is fueled by rapid industrialization in developing economies from Asia Pacific amid an increasing population and the need for advanced infrastructure.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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