Welding Equipment and Supplies: The Global Market
- The global market for welding equipment and consumables increased from $12.7 billion in 2007 to an estimated $13.2 billion by the end of 2008. It should reach $16.9 billion by 2013, a compound annual growth rate (CAGR) of 5%.
- Arc-welding equipment holds the largest market share. Worth an estimated $10.7 billion by the end of 2008, this segment will reach $13.6 billion in 2013.
- The market for welding robots is growing at a higher rate than any other industrial robot market.
The U.S. and Canadian markets for metal welding equipment and supplies in 2002 is expected to reach $3.9 billion. Rising at an average annual growth rate (AAGR) of 3.5%, this market will reach $4.6 billion in 2007.
The world market is estimated at $9.9 billion in 2002 and is projected to grow at an AAGR of 5.0% to about $12.7 billion in 2007.
The world market is growing faster than North America because welding is used to build infrastructure in industrializing Third World nations.
Welding is threatened by alternative joining technologies, such as adhesive bonding, with many users seeing welding as a manufacturing bottleneck.
Arc welding accounts for roughly 75% of the market in North America.
Laser welding grew 10% to 12% annually prior to 2001 and continues to develop.