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Global Welding Market Industry Trends & Forecast 2032

  • Writer: Pallavi Garudkar
    Pallavi Garudkar
  • 1 day ago
  • 2 min read
Welding Market
Welding Market

According to Fortune Business Insights the global welding market size was valued at USD 23.75 billion in 2022. The market is projected to grow from USD 24.73 billion in 2023 to USD 34.18 billion by 2030, exhibiting a CAGR of 4.7% during the forecast period. The welding industry has seen major technological advancements, including robotic and laser welding, making it a key sector in manufacturing and construction. Rising demand from automotive, heavy engineering, and construction industries is driving its growth.

Segmentation Analysis:

By Product Type

  • Equipment: welders, fixtures/jigs, auxiliary equipment, etc.

  • Consumables: electrodes, solid wires, flux‑cored wires, fluxes & wires for Submerged Arc Welding (SAW), etc.

By Welding Type / Process

  • Arc welding (e.g. MIG, TIG/GTAW, Shielded Metal Arc, Submerged Arc, etc.)

  • Resistance welding (spot, seam, projection)

  • Oxy‑acetylene (gas) welding

  • Solid-state welding

  • Others (e.g. Electron-beam welding)

By Application / End-use Industry

  • Automotive

  • Building & Construction

  • Heavy Engineering

  • Railway & Shipbuilding

  • Oil & Gas

  • Others: including Aerospace and specialized fabrication

Key Drivers & Trends:

  • Growth in automotive, construction, heavy-engineering, and infrastructure sectors.

  • Rising industrialization and infrastructure development globally.

  • Technological advancements adoption of robotic welding, laser welding, and automated welding.

  • Increasing demand for high-quality welding for complex materials and applications.

Market Outlook:

  • The welding market is projected to grow steadily from ~ USD 24.7 billion in 2023 to ~ USD 34.18 billion by 2030 (CAGR ~ 4.7%).

  • Demand for consumables (electrodes, wires, fluxes) will remain high.

  • Arc welding remains the dominant welding type globally.

  • Growth in automotive, construction, heavy engineering, railway/shipbuilding, oil & gas, and aerospace will support welding demand.

  • Adoption of advanced/automated welding technologies will accelerate.

  • Asia Pacific is likely to emerge as a key growth engine due to rapid industrialization and manufacturing expansion.

Key Players:

Major players in the global welding market include:

  • Lincoln Electric (U.S.)

  • KOBE STEEL, LTD (Japan)

  • ESAB (U.S.)

  • Fronius International GmbH (Austria)

  • ZULFI (Saudi Arabia)

  • KISWEL CO., LTD. (South Korea)

  • CS HOLDINGS CO., LTD. (South Korea)

  • RME MIDDLE EAST (UAE)

  • voestalpine BÖHLER Edelstahl GmbH (Austria)

Key Industry Development:

  • February 2023: TriMas acquired the net operating assets of Weldmac Manufacturing, a metal fabrication company serving aerospace and defense.

  • November 2022: Manufacturing Technology, Inc. (MTI) acquired Friction Welding Technologies Pvt. Ltd. (FWT) to expand its friction welding offerings in North America and Europe.

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