GIA announces the release of a comprehensive global report on Welding Machinery markets. The global market for Welding Machinery is projected to reach US$14.8 billion by 2018, driven by new infrastructure projects specifically wind turbine installations, recovery in the construction and manufacturing sectors, and sustained need for maintenance and repair activities in existing applications.
Worldwide welding industry is characterized by mature conditions, with growth significantly dependent on the industrial production levels in developed economies. Developing economies, on the other hand, present ample growth opportunities for welding equipment manufacturers. Global demand for welding equipment and consumables is significantly dependent on the consumption trends in the steel and other metals, which are used extensively in transportation, shipbuilding and capital equipment manufacturing sectors. The economic crisis led to a significant decline in sales in the global welding machinery market during 2009, as the largest end-use markets namely automotive, aerospace, heavy machinery, and ship building industries were significantly hit by the adverse conditions. European and Americas markets were the worst hit by the sharp decline in consumer spending, which had an indirect yet serious impact on the welding market. Despite all the gloom, welding market registered sustained demand from the rising installations of wind turbine and the continuous need for general maintenance and repair activities of existing facilities. Wind turbine projects are expected to be key growth drivers for the welding market in the near future. Further, growth is anticipated from the continuous rise in the offshore and onshore oil and gas pipeline construction projects, which are in need of welding consumables, equipment, steel pipes, manufacturing automation, wirings, and cables.
As stated by the new market research report on Welding Machinery, the United States represents the single largest market for Welding machinery. The region is expected to witness steady growth in the coming years, following a period of contraction brought on by the global economic recession. The market is on the recovery mode, led by the steady progress in the manufacturing and construction sectors. Growth would also be attributed to sustained gains made in the energy and power generation markets. Fastest growth is expected from the ultrasonic welding machinery segment. Asia-Pacific represents the fastest growing region in the global welding machinery market, with a CAGR of 3.9% over the analysis period.
Arch welding machinery market is the major segment in the global welding machinery market. Future growth in the arc welding machinery market would be driven by sustained demand from the global energy industry. Arc welding is used for maintaining and repairing LNG (Liquefied Natural Gas) tanks, nuclear facilities, wind turbine installations and pipelines. Growth would also be spurred by the rising use of arc welding machinery in the transportation, automotive, infrastructure and construction industries; rapid industrialization of developing countries and development of corrosion-resistant filler metals and energy efficient machines. Laser welding machinery market is projected to grow rapidly in the coming years, driven partly by its increased adoption in new end-use sectors. Laser welding is expected to find increase application in heavy industrial manufacturing, especially shipbuilding, railways, steel production and light industrial manufacturing sectors. Europe represents the largest regional market for laser welding machinery.
Welding machinery market is highly fragmented as welding equipment and consumables are used in a wide variety of industries. In addition to several large companies, the market involves the participation of several small-scale companies offering niche/specialist services and products such as welding torches, screens and marking equipment.
