Welding Products Market Size Is Expected To Reach Usd 19.94 Billion By 2030

raghurajgvr

Jun 6

Welding Products Industry Overview

The global welding products market size was estimated at USD 13.49 billion in 2021 and is expected to expand at a compounded annual growth rate (CAGR) of 4.4% from 2022 to 2030. Factors such as design flexibility, reduction in the overall weight of the buildings and structures, and the ease in modification are projected to promote the use of welding products in construction and industrial application segments. The global construction sector is undergoing limited growth as a consequence of the economic recession caused by the Covid-19 crisis, which has resulted in low investor confidence and a decline in construction activities, as a result, the market has also experienced a catastrophic setback.

The spread of the COVID-19 in China affected the growth of the engineering and construction industries. The increasing costs of construction materials and equipment, along with supply chain disruptions, are the major factors limiting the growth of this industry. However, the use of aerial measurement and 3D modeling technologies increased during the pandemic, which supported the market growth. The construction sector in China is expected to witness high growth over the forecast period, which, in turn, is predicted to drive the market in the economy. With a wide range of welding applications in construction coupled with technological advancements, the development of innovative manufacturing methods is likely to benefit the market growth.

Gather more insights about the market drivers, restrains and growth of the Global Welding Products market

According to the China Association of Automobile Manufacturers (CAAM), in 2020, the automotive sector contributed 9.6% of the total retail sales of consumer goods. The government and several major automobile companies are increasingly investing in the country owing to the growing demand for vehicles.

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

Synthetic Paper Market - The global synthetic paper market size was estimated at USD 1026.9 million in 2021 and is expected to expand at a compounded annual growth rate (CAGR) of 5.5% from 2022 to 2030. The market is expected to grow significantly due to the inclination of consumers towards eco-friendly and recycled packaging.

Specialty Silica Market - The global specialty silica market size was valued at USD 5.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.1% from 2022 to 2030. The growth of the market for specialty silica is attributed to the rising demand for rubber and paints and coatings across different industries such as construction and electric vehicles.

Welding Products Market Segmentation

Grand View Research has segmented the global welding products market based on technology, product, and region:

Technology Outlook (Revenue, USD Million, 2017 - 2030)
- Arc Welding
- Resistance Welding
- Oxy-Fuel Welding
- Laser Beam Welding
- Others

Product Outlook (Revenue, USD Million, 2017 - 2030)
- Stick Electrodes
- Solid Wires
- Flux-Cored Wires
- Saw Wires and Fluxes
- Others

Regional Outlook (Volume, Billion Square Feet, Revenue, USD Billion, 2017 - 2030)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Market Share Insights

November 2020: The ESAB Group Inc. and leading robot and robot system company, YASKAWA, announced a global cooperation agreement to jointly develop and market a line of pre-engineered robotic welding systems called XCellerator. The XCellerator systems will be engineered and built by Yaskawa and marketed by ESAB through its global sales channels.
November 2020: ESAB Welding & Cutting Products has introduced Shield-Bright NiCrMo-3, a 625-type electrode for manual and automatic flux cored wide-weave welding of 9% nickel steel in the vertical-up (3G) position and using 75% argon/25% CO2 shielding gas.

Key Companies profiled:

The global market is characterized by the presence of various small- and large-scale vendors, resulting in a moderate level of concentration in the market. The surging requirement for reliable and precise welding solutions is fueling the growth of the market.

Some prominent players in the global welding products market include: