CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

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CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

Global welding equipment to reach US$ 36.41B by 2034

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Escalating demand for welding equipment from the automotive, construction, heavy engineering, and manufacturing sectors are major drivers for the growth of the market for welding equipment. PHOTO courtesy Fronius.

The global welding equipment market, estimated at US$ 21.93 billion for 2024, is projected to expand at a CAGR of 5.2% from 2024 to 2034 and increase to US$36.41 billion, according to FACT.MR.

Increasing demand for welding equipment from the construction, automobile, and marine sectors is projected to drive market growth over the forecast period (2024–2024).

Rapid progress in developing economies, coupled with the expanding manufacturing sector, fuels the growth of the welding equipment market. Moreover, the surge in middle-class income in emerging economies propels rapid advancements in automobiles, where welding methods such as resistance spot welding, seam welding, and rotary friction welding, find frequent application.

Escalating demand for welding equipment from the automotive, construction, heavy engineering, and manufacturing sectors are major drivers for the growth of the market for welding equipment. Simultaneously, the upsurge in renovation activities within the construction sector also contributes significantly to the market’s growth.

The current trend toward automated welding equipment is being driven by its safety features and time-saving capabilities, which sets it apart from other types of machinery. Manufacturers are transitioning to automated systems to enhance product quality and minimize human involvement. Industrial automation in welding equipment presents several advantages, refining weld precision and uniformity by eliminating human-related errors and deviations. These automated systems guarantee precise weld positioning, regulated heat input, and consistent weld quality, eventually yielding stronger and dependable welds.

Key Takeaways from Market Study

  • The global welding equipment market is estimated at US$ 21.93 billion in 2024.
  • Demand for welding equipment is projected to rise at a CAGR of 5.2% from 2024 to 2034.
  • The market is projected to reach US$ 36.41 billion by 2034-end.
  • The market in East Asia is forecasted to advance at a CAGR of 5.5% through 2034.
  • The automatic welding equipment segment is projected to expand at a CAGR of 5.4% during the forecast period.
  • The market in North America is predicted to increase at a CAGR of 5.6% from 2024 to 2034.

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