The global market for welding machinery estimated at U.S. $13.1 billion in the year 2022, is projected to reach a revised size of $21.5 billion by 2030 — growing at a CAGR of 6.4% over the analysis period 2022 to 2030. This is according to a new report from ResearchAndMarkets.
Arc welding, one of the segments analyzed in the report, is projected to record 6.5% CAGR and reach $14 billion by the end of the analysis period. Growth in the oxy-fuel welding segment is estimated at 5.6% CAGR for the next eight-year period.
- Arc welding dominates: Arc welding is the leading segment in the market, driven by a 6.5% CAGR, and is projected to reach US$14 billion by 2030. This growth can be attributed to the widespread use of arc welding across various industries for its efficiency and effectiveness.
- Oxy-fuel welding frows: The oxy-fuel welding segment is expected to grow at a CAGR of 5.6% over the analysis period. While not as fast-growing as arc welding, oxy-fuel welding remains a significant part of the market due to its relevance in certain applications.
The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States, although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat.
The easing of headline inflation in the European area is helping boost real incomes and contributes to a pick-up in economic activity. China is expected to see substantial increases in GDP in the coming year as the pandemic threat recedes and the government sheds its zero-COVID policy.
With optimistic GDP projections, India remains on course to emerge into a U.S. trillion economy by 2030, surpassing Japan and Germany.
Countries and their governments are showing signs of weathering political and economic global challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically acceptable levels by raising interest rates, new job creation will slow down and impact economic activity. A stricter regulatory environment and pressure to mainstream climate change into financial decisions will compound the complexity of the challenges.
Although inflation worries and weaker demand can likely hold back corporate investments, the rise of new technologies will partially reverse this prevailing investment sentiment.
The growth of generative AI, applied AI, industrializing machine learning, next-generation software development, Web3, cloud and edge computing, quantum technologies, electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies can potentially drive sizeable incremental growth and value to global GDP in the coming years.
The short-term is expected to be a mixed bag of challenges and opportunities for consumers and investors alike. There’s always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
This report covers:
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
- ABB Ltd.
- Air Liquide SA
- Amada Co., Ltd.
- Aerotech, Inc.
- Asahi/America, Inc.
- Arc Machines, Inc.
- ARO Welding Technologies SAS
- Automation International, Inc.
- Aczet Pvt., Ltd.
- Ador Welding Ltd.
- ALPHA LASER GmbH
- American Torch Tip
- ARCBRO CNC CUTTING MACHINE
- All Pro Industries Pty Ltd