Arc Welding Equipment Market Size (2024 - 2030)

The estimated value of the Arc Welding Equipment Market stands at USD 4.76 Billion in 2023, with projections indicating a rise to USD 7.16 Billion by 2030. This growth is expected to occur at a CAGR of 6.0% during the forecast period spanning from 2024 to 2030.

Arc Welding Equipment Market

Arc welding, a method employed for joining metal pieces, operates by creating an electric arc between an electrode and the base metal to melt them at the contact point. Upon cooling and solidification, a robust bond is formed. The process utilizes a welding power supply capable of delivering either direct or alternating current. Electrodes are categorized into consumable and non-consumable types, with the welding region typically shielded by gas or vapor. Arc welding can be conducted manually, semi-automatically, or fully automatically. Originating in the late 1800s, it gained significance during World War II for shipbuilding and remains integral to the production of steel structures and automobiles today.

Arc welding equipment typically comprises various components, including a power source, welding cables, an electrode holder, a chipping hammer, a wire brush, a hand screen, and protective attire. The power source, operating on either direct current (DC) or alternative current (AC), supplies electricity for welding purposes. Electrode holders, ranging from 150 to 500 amps, serve to attach the electrode manually and receive current. A chipping hammer aids in the removal of accumulated slag during welding, featuring a wooden or rubber handle and a metal head. Wire brushes are utilized for pre-weld cleaning of metal surfaces from dirt and rust, while hand screens supervise weld bead and provide eye protection. Protective clothing such as aprons, boots, and goggles ensure the operator's safety during welding activities.

Global Arc Welding Equipment Market Drivers:

The increased adoption of arc welding within the aerospace sector is propelling the expansion of the global arc welding equipment market.

Arc welding stands as the predominant welding method due to its versatility in joining various metals. Widely used in both aircraft manufacturing and repair, arc welding necessitates specific equipment and procedures tailored to its three primary variants: shielded metal arc welding, gas metal arc welding, and gas tungsten arc welding. Each of these methods utilizes an electric arc to concentrate heat, facilitating the melting and bonding of metals. Consequently, the demand for arc welding equipment is bolstered.

The escalating utilization of arc welding in shipbuilding is another significant factor fostering the growth of the global arc welding equipment market.

Critical to shipbuilding, arc welding enables swift and precise joining and repair of steel structures. Employed in the construction of hulls, decks, bulkheads, and other ship components, arc welding techniques have witnessed increased demand with the growing complexity and size of vessels. Techniques such as shielded metal arc welding (SMAW), gas metal arc welding (GMAW), flux-cored arc welding (FCAW), and submerged arc welding (SAW) are employed for joining various metals, including steel and aluminum, as well as for maintenance and repair purposes. This surge in demand further drives the market for arc welding equipment.

Global Arc Welding Equipment Market Challenges:

The global arc welding equipment market faces challenges predominantly concerning health and safety issues. Welders are exposed to hazardous gases and particles during the welding process, posing risks to their well-being. Certain welding processes, including flux-cored arc welding and shielded metal arc welding, produce smoke containing oxide particles of varying sizes, with smaller particles posing greater health risks. Additionally, welding processes generate gases such as carbon dioxide and ozone, which can be harmful if ventilation is inadequate. Addressing these concerns necessitates advanced welding equipment, contributing to a more intricate and costly equipment setup, thereby restraining market growth.

Global Arc Welding Equipment Market Opportunities:

The expansion into diverse end-use industries presents a lucrative opportunity for players in the global arc welding equipment market. With the increasing demand for arc welding equipment driven by its simplicity, portability, cost-effectiveness, versatility, and high strength, businesses specializing in the production and distribution of such equipment can capitalize on this trend by diversifying their product offerings into sectors such as oil and gas, manufacturing, and mining.

COVID-19 Impact on the Global Arc Welding Equipment Market:

The COVID-19 pandemic significantly disrupted the global arc welding equipment market, causing disruptions in supply chains and distribution networks, thereby affecting production and distribution. Furthermore, reduced operations across various industries led to decreased demand for arc welding equipment. Despite these challenges, the market is expected to recover and witness growth in the forthcoming years.

Global Arc Welding Equipment Market Recent Developments:

In December 2022, Lincoln Electric Holdings, Inc., a US-based multinational manufacturer of welding products and arc welding equipment, finalized the acquisition of Fori Automation, LLC, a US-based industrial machinery and equipment company.

In November 2022, ESAB, an American-Swedish industrial firm, announced the launch of Renegade VOLT™ ES 200i Stick/TIG, a new battery-powered welding system, promising innovation within the industry.

In November 2022, Xiris Automation Inc., a Canada-based company specializing in weld monitoring and inspection systems, introduced the XVC-S100 Weld Camera, a new digital sub-arc welding camera designed for submerged arc applications.

Arc Welding Equipment Market Segmentation: By Technique

• Flux Core Arc Welding
• Gas Metal Arc Welding
• Gas Tungsten Arc Welding
• Shielded Metal Arc Welding
• Submerged Arc Welding

As of 2022, the gas metal arc welding sector dominated the market share. This growth can be attributed to its widespread usage in the welding industry. Gas metal arc welding (GMAW), also referred to as Metal Inert Gas Welding (MIGW), employs a metal electrode shielded by gases like helium or argon. These gases safeguard the welding area from oxidation while establishing multiple layers of welding material. Throughout this process, a filler wire is continuously fed using a non-consumable metal electrode to fuse the metal. Gas metal arc welding offers various advantages including the creation of high-quality welds, minimal splatter, the ability to join dissimilar metals, and can be executed fully or semi-automatically, all while maintaining a commendable welding speed.

Global Arc Welding Equipment Market Segmentation: By Level of Automation

• Manual
• Automatic
• Semi-Automatic

In 2022, the automatic segment seized the highest market share. This surge is attributed to the capacity of arc welding equipment to deliver precise welding, subsequently reducing labor expenses and enhancing productivity. Automatic welding procedures are characterized by heightened efficiency and reliability, allowing for superior control over welding parameters and the production of high-quality welds.

Global Arc Welding Equipment Market Segmentation: By Gas

• Argon
• Carbon Dioxide
• Helium
• Hydrogen
• Nitrogen
• Oxygen

As of 2022, the argon segment commanded the largest market share. This growth can be credited to the extensive utilization of argon due to its low reactivity with metals. Unlike oxygen in the air, which reacts with metals at high temperatures, argon remains inert during arc welding, preventing chemical changes in the welded metal.

Global Arc Welding Equipment Market Segmentation: By End-Use Industry

• Aerospace &Defense
• Automotive
• Construction
• Energy & Utilities
• Shipbuilding
• Others

In 2022, the automotive segment led in market share. This rise is attributed to the increasing adoption of arc welding processes due to their precision and repeatability. Arc welding finds applications in various automotive components such as heat shields, hydraulic lines, exhaust systems, chassis, engine parts, and structural components. Tungsten inert gas (TIG) arc welding and metal inert gas (MIG) arc welding are extensively utilized in the automotive sector, with TIG welding favored for intricate products and MIG welding for applications requiring simplicity and speed.

Global Arc Welding Equipment Market Segmentation: By Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

In 2022, the Asia-Pacific region dominated the global arc welding equipment market. This growth is attributed to the wide availability of affordable arc welding equipment and low labor costs. Urbanization, industrialization, and increased expenditure on construction projects in developing countries are significant contributors to the region's growth. The region boasts a vast pool of skilled welders, enabling the full utilization of infrastructure developments such as highways, bridges, and tunnels. Additionally, key market players like Daihen Corporation, Panasonic Welding Systems Co., Ltd., and Kobe Steel Ltd. are based in this region.

Global Arc Welding Equipment Market Key Players:

1. Daihen Corporation (Japan)
2. Colfax Corporation (United States)
3. Miller Electric Mfg. LLC (United States)
4. Lincoln Electric Holdings, Inc. (United States)
5. Illinois Tool Works, Inc. (United States)
6. Arcon Welding Equipment (United States)
7. Panasonic Welding Systems Co., Ltd. (China)
8. Kobe Steel Ltd. (Japan)
9. Fronius International GmbH (Austria)
10. ESAB (United States)