6 points about the future of welding industry
Learn highlights from Welding Equipment Market Report 2023
1. The demand for automatic welding equipment accounted for 56.2% of the global revenue share in 2022, owing to benefits such as increased productivity, decreased cycle duration, and increase efficiency.
2. The arc welding technology segment accounted for a 70.7% share of the global revenue in 2022. Arc welding technology is being increasingly utilized owing to its characteristics such as flexibility and the ability to perform in all conditions.
3. Continuous development in robotic arc welding is an important factor driving the arc welding segment in the welding equipment industry.
4. The aerospace end-use segment is projected to witness growth at a CAGR of 6.1% from 2023 to 2030, owing to growing applications in aerospace manufacturing including heating elements, circuit board traces, electronic components, actuators, fine ribbon welding, inductors, mesh welding, and hybrid micro-weld devices.
5. Asia Pacific accounted for 36.1% of the global revenue share in 2022 on account of the robust automotive industry. Increasing demand for electric and hybrid cars is expected to benefit the demand for welding equipment.
6. In April 2022, Kemppi Oy launched the premium compact MIG/MAG series, which includes three class-leader models: 353, 355, and 358, featuring alternative manual, auto, and auto pulse specifications.
Information source: Research and Markets.