Outlook For Welding And Cutting Equipment Market

Welding is a fabrication process that joins materials through coalescence, while cutting refers to the slicing of steel or other metals of different thickness through the use of different cutting equipment. And both are often used together in metalworking industries in manufacturing processes or for the production of outputs. Based on the product type, the welding and cutting equipment market can be further divided into five categories: arc welding equipment, gas welding equipment, MIG welders, plasma cutting equipment and others. While from the perspective of the end-user, the welding and cutting equipment market can be divided into another five categories: energy industry, shipbuilding industry, construction industry, automobile industry and others.

However, based on findings by Persistence Market Research, welding and cutting equipment are mostly deployed by the energy, automotive and construction industries as of now. And due to the rapid growth of industry 4.0, demand for welding and cutting equipment has increased globally. In particular, Asia-Pacific has risen up as the largest market for welding and cutting equipment, followed by North America and Europe and China and India are the key countries for the growth of the industry due to the high industrial growth rate, high growth rate in the construction sector and high growth rate of automotive industry in both countries. In fact, China’s economy is expected to continue growing by 7.8 percent and as of 2012, China has emerged as the largest steel nation globally. Meanwhile, countries that are part of the BRIC group (Brazil, Russia, India, and China) have also been highlighted as fast growing regions for the welding and cutting market.

Overall, the market is projected to grow at a substantial rate through 2020 due to increasing demand from the energy, automotive and construction industries. But market growth is also constrained by a decreased growth of the ship building, aerospace and defense industries. Key players in the industry include Illinois Tool Works Inc., Lincoln Electric Holdings Inc., Victor Technologies International Inc., Colfax Corp., ESAB, Panasonic Corp., Sonics & Materials Inc., Charter International Ltd. and Denyo Co. Ltd.