A recent report published by Infinium Global Research on the arc welding equipment market provides in-depth analysis of segments and sub-segments in the global as well as regional arc welding equipment market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional arc welding equipment market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global arc welding equipment market. According to the report, the global arc welding equipment market is projected to grow at a CAGR of 5.5% over the forecast period of 2022-2028.
The global arc welding equipment market was valued at USD 4.3 billion in 2022 and is expected to reach USD 6.0 billion in 2028, with a CAGR of 5.5% during the forecast period. Arc welding equipment is used in the welding process that is used to join metal to metal by using electricity to create enough heat to melt metal, and the melted metals when cool result in a binding of the metals. The demand for arc welding equipment is driven by the growing end-user industry in the country. The global oil & gas sector plays a large role in the country’s arc welding equipment market growth. Furthermore, the machine-building industry forms a key part of the growth of the market. Moreover, the growth in aircraft building, aerospace production, weapons, military machinery manufacture, and the automotive industry also plays an important role in the growth of the market.
The Enormous oil & gas sector in developing countries to drive the growth of arc welding equipment globally during the forecast period. Furthermore, the Expansion of the machine-building industry will enhance the growth of the market. Arc welding is a precise, reliable, cost-effective, and high-tech method for joining materials in manufacturing industries. Globally machine-building industries consist of electronics, computers, robotics, instrument building, agricultural and transport machine building, railway car manufacture, aircraft building, and shipbuilding equipment manufacturers. The increasing use of arc welding within these manufacturers will propel the market growth. However, with intense competition in the global market, the growth will be retrained during the forecast period. The intensive competition will pose a challenge for the growth of new players entering the arc welding equipment industry. Moreover, growing infrastructural development will create a growth opportunity during the forecast period.
The outbreak of COVID-19 negatively affected the growth of the arc welding equipment market during the forecast period. Furthermore, the stoppage of the manufacturing industry due to the increasing spread of the virus restrained the growth of the market. The lockdown hampered the growth of the market because of the trade restriction imposed by various countries in the earlier phase of the pandemic. The reduced supply of the various spare parts during the covid-19 pandemic hampers the growth. Furthermore, economic slowdown and decreased spending on the innovation of advanced welding technology globally because of the spread of the virus have restrained the growth of the market during the forecast period.
Based on the region, the worldwide arc welding equipment market is segmented into the Asia Pacific, North America, Europe, and also the Middle East & Africa. Among the regions, North America is the largest region in the arc welding equipment market due to increasing automation advancements in developing countries during the forecast period. The increasing inclination towards renewable energy sources requires the installation of solar and hybrid power stations. This is expected to aid the arc welding equipment industry's growth over the forecast period. Furthermore, the Asia Pacific region is expected to dominate the growth of the market due to the increasing infrastructural development within India, and China during the forecast period.
The report on the global arc welding equipment market covers segments such as welding technology, and equipment. On the basis of welding technology, the sub-markets include plasma arc welding (PAW), gas-tungsten arc welding (GTAW), shielded metal arc welding (SMAW), gas-metal arc welding (GMAW), and others. On the basis of equipment, the sub-markets include welding machine/ power source, electrode holders, cables/ leads, chipping hammer, and others.
The report provides profiles of the companies in the market such as Amada Miyachi America, Inc., Arcon Welding Equipment, Colfax Corporation, DAIHEN Corporation, ESAB Welding & Cutting Products, Fronius International GmbH, Illinois Tool Works, Inc., Nelson Stud Welding (Doncasters Group, Ltd.), Obara Corporation, and Rofin-Sinar Technologies.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the arc welding equipment market. Moreover, the study highlights current market trends and provides forecast from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.
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