Arc Welding Equipment Market Size (2023 - 2030)

The Global Arc Welding Equipment Market is estimated to be worth USD 4.76 Billion in 2023 and is projected to reach a value of USD 7.16 Billion by 2030, growing at a CAGR of 6.0% during the forecast period 2024-2030.

Arc welding is a technique for joining two pieces of metal. To melt the metals at the point of contact, an electric arc is formed between an electrode (a metal stick) and the base metal. When the metals cool and solidify, they form a strong bond. A welding power supply that may deliver either direct or alternating current is used in the process. Electrodes are classified into two types: consumable and non-consumable. Shielding gas or vapor is generally used to protect the welding region. Arc welding can be performed manually, semi-automatically, or completely automatically. It was invented in the late 1800s and became vital in shipbuilding during World War II. It is still used to produce steel structures and automobiles nowadays.

Arc welding equipment typically includes several components, such as a power source, welding cables, an electrode holder, a chipping hammer, a wire brush, a hand screen, and protective clothing. The power source can be either direct current (DC) or alternative current (AC) and is used to supply electricity for welding. The electrode holder comes in sizes ranging from 150 to 500 amps and is used to manually clip the electrode and receive current. A chipping hammer is used to remove slag that accumulates during welding, and it has a wooden or rubber handle with a metal head. Wire brushes are used to clean dirt and rust from metal before welding, and hand screens are used to supervise the weld bead and protect the eyes. Protective clothing, such as aprons, boots, and goggles, are also used to protect the operator's body during the welding process.

Global Arc Welding Equipment Market Drivers:

The rising adoption of arc welding in the aerospace industry is fueling the growth of the global arc welding equipment market.

Arc welding has proven to be the most widely used technique of welding, with its ability to join the majority of metals. Found in both the manufacture and repair of aircraft parts, arc welding requires specific equipment and procedures to be employed depending on the three types of welding, shielded metal arc welding, gas metal arc welding, and gas tungsten arc welding, each create an electric arc to concentrate heat, melt and bond the metals together. Therefore, this factor drives the demand for arc welding equipment.

The growing utilization of arc welding in the shipbuilding industry is another factor contributing to the growth of the global arc Welding Equipment market.

The arc welding process is an essential element in the shipbuilding industry, enabling workers to join and repair steel structures with high speed and precision. The process is employed in the construction of hulls, decks, bulkheads, and other structural components of ships and vessels. Arc welding techniques have seen a significant increase in demand in recent years, according to industry veterans, as vessels have become larger and more complex. Shielded metal arc welding (SMAW), gas metal arc welding (GMAW), flux-cored arc welding (FCAW), and submerged arc welding (SAW) are among the arc welding techniques utilized in the shipbuilding industry. These techniques are used to join different types of metals, including steel and aluminum, and are also used for repairs and maintenance of ships and offshore structures. Therefore, this factor also drives the demand for arc welding equipment.

Global Arc Welding Equipment Market Challenges:

The global arc welding equipment market is encountering challenges, primarily in terms of health and safety concerns. Welders are at risk of exposure to hazardous gases and particles which can be harmful to their health. During certain welding processes, such as flux-cored arc welding and shielded metal arc welding, smoke is produced that contains particles of different types of oxides. The size of these particles is a critical factor that determines the toxicity of the fumes, with smaller particles being more perilous. In addition to this, welding processes can also generate various gases like carbon dioxide and ozone, which can be hazardous to health if there is insufficient ventilation. In response to these considerations, advanced welding equipment is required, leading to a more complex, costly equipment setup. Thus, these challenges inhibit the growth of the global arc welding equipment market.

Global Arc Welding Equipment Market Opportunities:

Expansion to end-use industries presents a lucrative opportunity in the global arc welding equipment market. Given the rising demand for arc welding equipment owing to their advantages, including simplicity, portability, cost-effectiveness, high versatility, and high strength, businesses specializing in the production and distribution of arc welding equipment can stand to gain significantly from this opportunity by expanding their products to other end-use industries, including oil and gas, manufacturing, and mining.

COVID-19 Impact on the Global Arc Welding Equipment Market:

The outbreak of the COVID-19 pandemic substantially impacted the global arc welding equipment market. The pandemic caused disruptions in supply chains and distribution of goods and services, which highly affected the production and distribution of arc welding equipment. Moreover, the demand for arc welding equipment decreased due to reduced operations of businesses in several industries. These factors negatively impacted the growth of the global arc welding equipment market. Despite these challenges, the global arc welding equipment market is projected to recover and grow in the coming years.

Global Arc Welding Equipment Market Recent Developments:

• In December 2022, Lincoln Electric Holdings, Inc., a US-based multinational and global manufacturer of welding products and arc welding equipment, completed the acquisition of Fori Automation, LLC, a US-based company specializing in industrial machinery and equipment.
• In November 2022, ESAB, an American-Swedish industrial company, unveiled the launch of a new battery-powered welding system called Renegade VOLT™ ES 200i Stick/TIG. The latest welding system is an innovative product that promises to revolutionize the industry.
• In November 2022, Xiris Automation Inc., a Canada-based company specializing in weld monitoring and weld inspection systems, unveiled the launch of a new digital sub-arc welding camera called XVC-S100 Weld Camera for submerged arc applications.

ARC WELDING EQUIPMENT MARKET REPORT COVERAGE:

Global Arc Welding Equipment Market Segmentation:

Global Arc Welding Equipment Market Segmentation: By Technique

• Flux Core Arc Welding 
• Gas Metal Arc Welding
• Gas Tungsten Arc Welding
• Shielded Metal Arc Welding
• Submerged Arc Welding

In 2022, the gas metal arc welding segment held the highest market share. The growth can be attributed to gas metal arc welding being the most popular arc welding process in the welding industry. Gas metal arc welding (GMAW), which is also known as Metal Inert Gas Welding (MIGW), involves using a metal electrode that is covered by gas such as helium or argon. This gas protects the area being welded from oxidation and creates multiple layers of welding material. During the process, a filler wire is fed continuously by using a non-consumable metal electrode to join the metal. This arc welding process offers several advantages, such as the creation of high-quality welds, minor weld splatter, capability of joining dissimilar metals, can be fully or semi-automatic, and good weld speed.

Global Arc Welding Equipment Market Segmentation: By Level of Automation

• Manual
• Automatic
• Semi-Automatic

In 2022, the automatic segment held the highest market share. The growth can be attributed to the arc welding equipment being capable of offering high-precision welding, which drives down labor costs and boosts productivity. Automatic welding processes are more efficient and reliable and allow for greater control over welding parameters, therefore producing higher-quality welds. 

Global Arc Welding Equipment Market Segmentation: By Gas

• Argon
• Carbon Dioxide
• Helium
• Hydrogen
• Nitrogen
• Oxygen

In 2022, the argon segment held the highest market share. The growth can be attributed to the large utilization of argon owing to its low reactivity with metals. There is no chemical change during arc welding. However, oxides are produced when oxygen in the air reacts with the metals at high temperatures. Since argon is an inert gas that doesn't react, it doesn't react with the welded metal.

Global Arc Welding Equipment Market Segmentation: By End-Use Industry

• Aerospace & Defense
• Automotive
• Construction
• Energy & Utilities
• Shipbuilding
• Others

In 2022, the automotive segment held the highest market share. The growth can be attributed to the rising adoption of the arc welding process owing to its high accuracy and high repeatability. The arc welding process is used in a variety of automotive components, including heat shields, hydraulic lines, exhaust systems, chassis, engine parts, and structural components. Tungsten inert gas (TIG) arc welding process and metal inert gas (MIG) arc welding process are widely used in the automotive industry. TIG welding is ideal for crafting complex products and MIG welding is suitable for applications that require simplicity and speed. 

Global Arc Welding Equipment Market Segmentation: By Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

In 2022, the region of Asia-Pacific held the largest share of the global arc welding equipment market. The growth can be attributed to the high availability of affordable arc welding equipment, along with low labor costs. Urbanization and industrialization in developing countries, as well as increased expenditure on construction projects, are majorly contributing to the growth of the region. The region has a vast pool of technically adept welders, enabling the complete utilization of the potential created by the infrastructure developments such as highways, bridges, and tunnels. In addition, the region is home to several significant market players, including Daihen Corporation, Panasonic Welding Systems Co., Ltd., and Kobe Steel Ltd. 

Global Arc Welding Equipment Market Key Players:

1. Daihen Corporation (Japan)
2. Colfax Corporation (United States)
3. Miller Electric Mfg. LLC (United States)
4. Lincoln Electric Holdings, Inc. (United States)
5. Illinois Tool Works, Inc. (United States)
6. Arcon Welding Equipment (United States)
7. Panasonic Welding Systems Co., Ltd. (China)
8. Kobe Steel Ltd. (Japan)
9. Fronius International GmbH (Austria)
10. ESAB (United States)