Global Welding Equipment Accessories & Consumables Market Forecast To Register CAGR Of Over 3.57% From 2024 To 2033
Welding Equipment Accessories & Consumables Market Size
The Global Welding Equipment, Accessories, and Consumables Market was valued at USD 27.98 billion in 2024 and is expected to reach USD 33.57 billion by 2033, at a CAGR of 3.57% during the forecast period 2024-2033.
Welding Equipment Accessories & Consumables Market Overview
Welding equipment, accessories, and consumables contain many products and services for joining metals and other materials. These products include welding machines, torches, electrodes, wires, fluxes, protective gear, and other equipment.
The welding equipment, accessories, and consumables market helps many industries, such as automotive, construction, shipbuilding, aerospace, and manufacturing. Rising automation and technical advancements in welding procedures are propelling the market northward.
The market is being reshaped primarily by the introduction of automation and robots, the desire for high-quality and precision welding, and the emphasis on safety and environmental sustainability.
The aerospace industry is a significant global market driver for welding equipment, accessories, and consumables. The increasing demand for aircraft and stringent quality and safety standards necessitate using advanced welding techniques to join high-performance materials like titanium, nickel, and composites.
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The demand for welding consumables, such as tungsten inert gas (TIG), plasma arc, and gas metal arc welding consumables, is essential for these applications. Additionally, the rise of emerging economies, particularly China, has fueled the growth of the global aviation industry. As these economies invest in infrastructure and expand their aviation sectors, the demand for welding equipment and consumables is expected to increase.
Furthermore, adopting advanced welding technologies, such as laser and ultrasonic welding, is revolutionizing the industry. These technologies offer numerous advantages, including increased precision, efficiency, and the ability to join a wider range of materials. This has led to their widespread adoption in various industries, including automotive, electronics, and medical device manufacturing.
However, the market faces challenges like high energy consumption, maintenance expenses, and environmental concerns. Manufacturers focus on developing energy-efficient and environmentally friendly welding technologies to overcome these challenges. The global welding equipment, accessories, and consumables market is expected to grow, driven by increasing demand from various industries and technological advancements.
Based on end users, the global welding equipment, accessories, and consumables market is subdivided into aerospace, automotive, building and construction, energy, oil and gas, marine, and others. In 2023, this dominance was driven by the rising global demand in the automotive manufacturing sector, which has increased the need for advanced tools and robotics. Therefore, this industry’s demand for welding equipment will grow significantly during the forecast period.
The Asia-Pacific region presents significant growth opportunities for the welding industry, driven by rising infrastructure development, growing industrialization, and an increasing focus on renewable energy. The demand for welding consumables is surging due to the region’s numerous infrastructure projects and the ongoing need for repair and maintenance.
Rapid urbanization and construction activities, especially in countries like China and India, are propelling the use of welding technologies in building infrastructure and related applications. The automotive industry in the region is also a major contributor to the demand for welding consumables.
Lightweight and fuel-efficient vehicles are in high demand in Asia-Pacific, prompting increased use of welding techniques for manufacturing body, engine, and transmission parts. Key automotive companies, such as GESTAMP SERVICIOS, S.A., are expanding manufacturing facilities, as seen in their 2022 expansion in Japan, to meet rising demand for automotive parts.
BRI has comprehensively analyzed the global welding equipment accessories and consumables market. We have provided a detailed explanation of the driving forces, restraints, challenges, opportunities, and key trends to illustrate the market’s scenarios. Segment-wise market size and market share during the forecast period are duly addressed to portray the probable picture of this industry.
The competitive landscape includes key innovators, after-market service providers, market giants, and niche players, who are studied and analyzed extensively concerning their strengths, weaknesses, and value-addition prospects. In addition, this report covers key players’ profiles, market shares, mergers and acquisitions, consequent market fragmentation, new trends, and dynamics in partnerships.
List of the prominent players in the Welding Equipment Accessories & Consumables Market:
- bioMérieux SA
- Becton Dickinson and Company (BD)
- Thermo Fisher Scientific Inc.
- Roche Diagnostics
- Abbott Laboratories
- Luminex Corporation
- Bruker Corporation
- Immunexpress
- Axis-Shield Diagnostics Ltd.
- T2 Biosystems Inc.
- Siemens Healthineers
- Beckman Coulter Inc. (Danaher Corporation)
- Qiagen N.V.
- Merck KGaA
- Hologic Inc.
- Ortho Clinical Diagnostics
- Fujirebio Diagnostics Inc.
- Chembio Diagnostic Systems Inc.
- Randox Laboratories Ltd.
- Immunodiagnostic Systems (IDS)
- Others
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