Arc Welding Equipment Market

Introduction

The report covers a complete study of the arc welding equipment market with an analysis of types of arc welding equipment. The report summarizes the dynamics and various factors for arc welding equipment, and of markets, which are going to impact the growth of the arc welding equipment market.

The study provides a detailed description about how the arc welding equipment market is expected to perform in various regions around the world as per historical performance and future potential in respective regions.

According to market estimates, the global arc welding equipment market is projected to reach ~US$ 10 Bn by the end of the forecast period, registering a CAGR of ~ 6%. The growing demand for metal work operation in automotive, fabrication, construction, and shipbuilding industries has augured well for the arc welding equipment market, as it remains one of the most efficient and reliable, and thus, a preferred welding technologies for metals.

Asia Pacific, North America, and Europe are expected to witness significant growth in the global arc welding equipment market. The Middle East and Africa is anticipated to remain a slightly underachieving market throughout the forecast period due to low automotive and industrial manufacturing activities.

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Wind and Solar Energy Industries – The next Leg of Market Growth

According to Global Wind Energy Council, adoption of wind power increased significantly in the past couple of years. The wind energy industry represents potential growth opportunities for welding equipment manufacturers. Due to environmental concerns, strict regulations are mandated by various governments around the globe on emissions of toxic gases such as carbon. This, in turn, bolsters the demand for wind power around the globe.

Increasing demand for clean energy is expected to drive the arc welding equipment market growth in various countries, particularly in Europe and North America. This is attributed to the expected need for power grid infrastructure and the manufacture of relevant components to ensure electricity transmission from wind energy fields to end-user industries in addition to residential and commercial sectors across different countries.

As a result of the installation of solar and hybrid power stations and wind turbines, emerging economies are also expected to experience a gradual increase in the need for arc welding equipment activities. This is expected to significantly increase the demand for arc welding equipment worldwide over the forecast period.

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Opportunities from Ongoing Repair and Maintenance Work in Various End-use Applications

For repair and maintenance-related work, demand for arc welding equipment is expected to increase over the next few years. Industries such as energy, automotive and transportation, construction, shipbuilding, metal manufacturing, and processing are the ones, which require constant need for repair and maintenance, resulting in demand for arc welding equipment.

The overall market for arc welding equipment is driven by increased demand for automation or robotic arc welding. Manufacturing and processing industries witnessing a major shortage of skilled labor are being affected by the saturated labor markets.

Majority of the manufacturers are therefore shifting to robotic or automatic arc welding to increase their profit margins and decrease labor force dependence. In addition, automatic arc welding is widely used in the automotive industry and in the manufacture of steel structures.

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Arc Welding Equipment Market: Competitive Landscape

Though large number of players are actively involved in equipment manufacturing, only four manufacturers, namely -

• Colfax Corporation
• The Lincoln Electric Company
• Illinois Tool Works Inc.
• Daihen Corporation

take up the Tier 1 market share space with an estimated share of 42% in terms of combined revenue amounting to about ~US$ 2 Bn. Other important players that make up the Tier 2 space are Obara Group, Inc., Hyundai Welding Co, Ltd., Panasonic Corporation, Fronius International GmbH, and Kemppi Oy with about 33% of market share, while Tier 3 companies take up 24% share, largely comprising of regional and local players.

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Growing Market Consolidation: Key Players Focusing on Mergers & Acquisitions

Over the past few years, an increase in the number of expansion and consolidation activities has been witnessed in the arc welding equipment market. This can predominantly be attributed to the efforts being made by manufacturers to meet the intensifying demand for arc welding equipment across the globe.

• In May 2016, The Lincoln Electric Company acquired Vizient Manufacturing Solutions, a robot integrating and automated welding equipment manufacturing company to improve its overall revenue.
• In March 2017, Colfax Corporation entered into an agreement to acquire Siemens Turbomachinery Equipment GmbH (STE) division from Siemens AG to a tune of US$ 218 Mn.
• In July 2016, Illinois Tool Works Inc acquired the Engineered Fasteners and Components business segment of ZF TRW for US$ 450 Mn to improve sales revenue.

Arc Welding Equipment Market: Segmentation