Welding Products Market, By Product (Flux-Cored Wires, Solid Wires, Stick Electrodes, Saw Wires and Fluxes), By Technology (Resistance Welding, Oxy-Fuel Welding, Arc Welding and Laser Beam Welding), By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2023-2030
REPORT HIGHLIGHT
Welding Products Market size was valued at USD 14,312 Million in 2022, expanding at a CAGR of 4.6% from 2023 to 2030.
The process of welding involves the use of welding products. Using intense heat to melt the components, welding is a manufacturing technique used to combine metals or thermoplastics. Professional welders utilize products for welding. Common welding processes include resistance welding, oxy-fuel welding, arc welding, and laser beam welding. Professional welders employ a variety of welding gear, including dust masks, extraction systems, helmets, aprons, and gloves.
Welding Products Market- Market Dynamics
- Increasing demand from the construction sector drives market expansion
The construction industry is gradually using more welding equipment to weld large buildings and metal items like steel and iron. The construction business has experienced substantial growth in recent years. The sector is expanding as a result of technological developments, infrastructure project investments, and economic expansion. The U.S. Commerce Department\'s statistics indicate that in 2020, construction spending in the country would reach US$1.4 trillion, a rise of 0.9 percent. The U.S. Census Bureau released statistics that indicate in April 2021, almost 1,760,000 new dwelling permits will be issued throughout the country. According to an IBEF study, the Indian real estate market is predicted to reach USD 650 billion by 2025, with institutional investment totaling $5 billion in 2020. Thus, this is expected to propel the market growth over the projected period.
Welding Products Market- Key Insights
- As per the analysis shared by our research analyst, the global Welding Products market is estimated to grow annually at a CAGR of around 4.6% over the forecast period (2023-2030)
- The Welding Products industry is projected to grow at a significant rate due to the increasing demand from the construction sector
- Based on product segmentation, the Stick Electrodes segment is expected to dominate the market during the forecast period
- Based on technology segmentation, the Resistance Welding segment is expected to capture a substantial market share during the forecast period
- Based on region, the Asia Pacific is expected to dominate the market during the forecast period
Welding Products Market- Segmentation Analysis:
The Global Welding Products Market is segmented based on Product, Technology, and Region.
Based on the product, the market is bifurcated into Flux-Cored Wires, Solid Wires, Stick Electrodes, Saw Wires, Fluxes and Others. The Stick Electrodes segment is expected to dominate the market during the forecast period. Owing to their excellent tensile and corrosion resistance, as well as their capacity to enhance welding strength, stick electrodes are becoming more and more in demand across a broad spectrum of application areas. Besides, the Solid Wires segment is expected to grow at the fastest rate during the forecast period. Solid wires are more useful in applications where flexible wires are needed, including home electrical wiring and breadboards. These features include their flexibility and robustness.
Based on the technology, the industry is segmented into Resistance Welding, Oxy-Fuel Welding, Arc Welding, Laser Beam Welding and Others. The Resistance Welding segment is expected to capture a substantial market share during the forecast period due to the increasing usage of resistance welding technology in the automotive sector for a variety of operations, including seam, projection, and spot welding.
Welding Products Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. The Asia Pacific is expected to dominate the market during the forecast period. The demand for welding products is anticipated to rise as a result of the expansion of the residential, commercial, and industrial sectors brought on by the region\'s countries\' steady economic growth. Due to the fastest-growing automotive sector and the greatest level of vehicle manufacturing, the welding products market in Asia Pacific is predicted to develop at the fastest rate. The presence of quickly expanding economies like the ones in China, India, Indonesia, and Japan is anticipated to be advantageous to the area.
Welding Products Market- Competitive Landscape:
The existence of several small- and large-scale vendors characterizes the worldwide market, leading to a moderate level of market concentration. The growing market is being driven by the increasing need for reliable and precise welding solutions. Leading producers of welding goods in the industry are concentrating on providing stiff, long-lasting, and appropriate welding products. Backward integration is the main emphasis of many producers of roofing products to maintain control over the product\'s quality. To meet the growing demand from consumers, industry players place a strong emphasis on diversifying their product offerings through the creation of creative solutions and more affordable goods with better qualities.
Recent Developments:
- In March 2023, for MIG/MAG welding, Kemppi unveiled the Master M 205 and Master M 323 portable welding equipment. The newest equipment line is perfect for both enthusiastic hobby welders and industrial welding in shipyards and repair shops. The newest equipment range is perfect for both enthusiastic hobby welders and industrial welding in shipyards and repair shops.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL WELDING PRODUCTS MARKET KEY PLAYERS
- Sandvik AB
- Kiswel, Inc.
- The Lincoln Electric Company
- Obara Corporation
- Hyundai Welding Co., Ltd.
- Illinois Tool Works, Inc.
- Veostalpine AG
- Colfax Corporation
- Tianjin Bridge Welding Materials Co., Ltd.
- Senor Metals Pvt. Ltd.
- Mitco Weld Products Pvt. Ltd.
- Kemppi Oy
- Ador Welding Limited
- Metrode Products Ltd.
GLOBAL WELDING PRODUCTS MARKET, BY PRODUCT
- Flux-Cored Wires
- Solid Wires
- Stick Electrodes
- Saw Wires
- Fluxes
- Others
GLOBAL WELDING PRODUCTS MARKET, BY TECHNOLOGY
- Resistance Welding
- Oxy-Fuel Welding
- Arc Welding
- Laser Beam Welding
- Others
GLOBAL WELDING PRODUCTS MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA
TABLE OF CONTENT
1. Welding Products Market Overview
1.1. Study Scope
1.2. Market Estimation Years
2. Executive Summary
2.1. Market Snippet
2.1.1. Welding Products Market Snippet by Product
2.1.2. Welding Products Market Snippet by Technology
2.1.3. Welding Products Market Snippet by Country
2.1.4. Welding Products Market Snippet by Region
2.2. Competitive Insights
3. Welding Products Key Market Trends
3.1. Welding Products Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Welding Products Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Welding Products Market Opportunities
3.4. Welding Products Market Future Trends
4. Welding Products Industry Study
4.1. PEST Analysis
4.2. Porter’s Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Welding Products Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Welding Products Market Landscape
6.1. Welding Products Market Share Analysis, 2022
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players’ Analysis
6.2.2. Emerging Players’ Analysis
7. Welding Products Market – By Product
7.1. Overview
7.1.1. Segment Share Analysis, By Product, 2022 & 2030 (%)
7.1.2. Flux-Cored Wires
7.1.3. Solid Wires
7.1.4. Stick Electrodes
7.1.5. Saw Wires
7.1.6. Fluxes
7.1.7. Others
8. Welding Products Market – By Technology
8.1. Overview
8.1.1. Segment Share Analysis, By Technology, 2022 & 2030 (%)
8.1.2. Resistance Welding
8.1.3. Oxy-Fuel Welding
8.1.4. Arc Welding
8.1.5. Laser Beam Welding
8.1.6. Others
9. Welding Products Market– By Geography
9.1. Introduction
9.1.1. Segment Share Analysis, By Geography, 2022 & 2030 (%)
9.2. North America
9.2.1. Overview
9.2.2. Welding Products Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.2.4. North America Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.2.5. North America Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.2.6. U.S.
9.2.6.1. Overview
9.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.2.6.3. U.S. Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.2.6.4. U.S. Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.2.7. Canada
9.2.7.1. Overview
9.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.2.7.3. Canada Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.2.7.4. Canada Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.3. Europe
9.3.1. Overview
9.3.2. Welding Products Key Manufacturers in Europe
9.3.3. Europe Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.3.4. Europe Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.5. Europe Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.3.6. Germany
9.3.6.1. Overview
9.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.6.3. Germany Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.6.4. Germany Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.3.7. Italy
9.3.7.1. Overview
9.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.7.3. Italy Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.7.4. Italy Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.3.8. United Kingdom
9.3.8.1. Overview
9.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.8.3. United Kingdom Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.8.4. United Kingdom Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.3.9. France
9.3.9.1. Overview
9.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.9.3. France Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.9.4. France Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.3.10. Russia
9.3.10.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.10.2. Russia Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.10.3. Russia Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.3.11. Netherlands
9.3.11.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.11.2. Netherlands Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.11.3. Netherlands Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.3.12. Sweden
9.3.12.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.12.2. Sweden Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.12.3. Sweden Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.3.13. Poland
9.3.13.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.13.2. Poland Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.13.3. Poland Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.3.14. Rest of Europe
9.3.14.1. Overview
9.3.14.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.14.3. Rest of the Europe Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.3.14.4. Rest of the Europe Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.4. Asia Pacific (APAC)
9.4.1. Overview
9.4.2. Welding Products Key Manufacturers in Asia Pacific
9.4.3. Asia Pacific Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.4.4. Asia Pacific Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.5. Asia Pacific Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.4.6. India
9.4.6.1. Overview
9.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.6.3. India Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.6.4. India Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.4.7. China
9.4.7.1. Overview
9.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.7.3. China Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.7.4. China Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.4.8. Japan
9.4.8.1. Overview
9.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.8.3. Japan Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.8.4. Japan Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.4.9. South Korea
9.4.9.1. Overview
9.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.9.3. South Korea Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.9.4. South Korea Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.4.10. Australia
9.4.10.1. Overview
9.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.10.3. Australia Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.10.4. Australia Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.4.11. Thailand
9.4.11.1. Overview
9.4.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.11.3. Thailand Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.11.4. Thailand Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.4.12. Indonesia
9.4.12.1. Overview
9.4.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.12.3. Indonesia Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.12.4. Indonesia Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.4.13. Philippines
9.4.13.1. Overview
9.4.13.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.13.3. Philippines Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.13.4. Philippines Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.4.14. Rest of APAC
9.4.14.1. Overview
9.4.14.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.14.3. Rest of APAC Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.4.14.4. Rest of APAC Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.5. Latin America
9.5.1. Overview
9.5.2. Welding Products Key Manufacturers in Latin America
9.5.3. Latin America Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.5.4. Latin America Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.5.5. Latin America Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.5.6. Brazil
9.5.6.1. Overview
9.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.6.3. Brazil Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.5.6.4. Brazil Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.5.7. Mexico
9.5.7.1. Overview
9.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.7.3. Mexico Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.5.7.4. Mexico Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.5.8. Argentina
9.5.8.1. Overview
9.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.8.3. Argentina Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.5.8.4. Argentina Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.5.9. Colombia
9.5.9.1. Overview
9.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.9.3. Colombia Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.5.9.4. Colombia Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.5.10. Rest of LATAM
9.5.10.1. Overview
9.5.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.10.3. Rest of LATAM Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.5.10.4. Rest of LATAM Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.6. Middle East and Africa
9.6.1. Overview
9.6.2. Welding Products Key Manufacturers in Middle East and Africa
9.6.3. Middle East and Africa Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.6.4. Middle East and Africa Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.6.5. Middle East and Africa Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.6.6. Saudi Arabia
9.6.6.1. Overview
9.6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.6.3. Saudi Arabia Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.6.6.4. Saudi Arabia Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.6.7. United Arab Emirates
9.6.7.1. Overview
9.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.7.3. United Arab Emirates Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.6.7.4. United Arab Emirates Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.6.8. Israel
9.6.8.1. Overview
9.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.8.3. Israel Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.6.8.4. Israel Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.6.9. Turkey
9.6.9.1. Overview
9.6.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.9.3. Turkey Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.6.9.4. Turkey Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.6.10. Algeria
9.6.10.1. Overview
9.6.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.10.3. Algeria Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.6.10.4. Algeria Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.6.11. Egypt
9.6.11.1. Overview
9.6.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.11.3. Egypt Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.6.11.4. Egypt Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
9.6.12. Rest of MEA
9.6.12.1. Overview
9.6.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.12.3. Rest of MEA Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
9.6.12.4. Rest of MEA Market Size and Forecast, By Technology, 2018 - 2030 (US$ Million)
10. Key Vendor Analysis- Welding Products Industry
10.1. Competitive Dashboard
10.2. Company Profiles
10.2.1. Sandvik AB
10.2.2. Kiswel, Inc.
10.2.3. The Lincoln Electric Company
10.2.4. Obara Corporation
10.2.5. Hyundai Welding Co., Ltd.
10.2.6. Illinois Tool Works, Inc.
10.2.7. Veostalpine AG
10.2.8. Colfax Corporation
10.2.9. Tianjin Bridge Welding Materials Co., Ltd.
10.2.10. Senor Metals Pvt. Ltd.
10.2.11. Mitco Weld Products Pvt. Ltd.
10.2.12. Kemppi Oy
10.2.13. Ador Welding Limited
10.2.14. Metrode Products Ltd.
11. 360 Degree Analyst View
12. Appendix
12.1. Research Methodology
12.2. References
12.3. Abbreviations
12.4. Disclaimer
12.5. Contact Us
