Asia-Pacific Welding Equipment & Consumables Market Outlook, 2028

The Asia Pacific region is projected to hold the highest growth rate in the welding equipment, accessories, and consumables market during the forecast period. The region is the largest producer and consumer of welding equipment, accessories, and consumables across the globe, with almost all major manufacturers and end-use companies present in the region. It has experienced tremendous growth in recent years, owing to its growing population, favourable investment policies, expanding economies, and government initiatives aimed at promoting the region's electronics and automobile industries. The increased foreign investment in the Asia Pacific region has resulted in a significant increase in projects in industries like aircraft, oil and gas, and heavy machinery. The growth is attributed to the presence of developed and developing welding consumables companies operating primarily in China, India, and South Korea. Furthermore, the regional market is being driven by a large intake of capital and the high adoption of smart technologies such as robotic welding. Countries such as China, India, Japan, and Australia are fast-emerging economies. The corporate sector and manufacturing sector are growing rapidly, and hence the demand for infrastructure such as corporate buildings and manufacturing plants is also increasing rapidly. Welding consumables are used in the construction industry to join metal framework for roofs, walls, and other purposes, so demand for welding consumables is rising in Asia Pacific.

According to the research report, Asia-Pacific Welding Equipment and Consumables Market Outlook, 2028 the market is projected to grow at 5.73% CAGR from 2023 to 2028. Significant growth in the manufacturing industries, combined with extensive infrastructure development in the Asia Pacific region, is one of the key factors driving the market's positive outlook. With rapid urbanisation, governments in the region are emphasising the construction of sustainable residential and commercial complexes, resulting in an increase in demand for welding consumables. Furthermore, automakers are employing smooth weld shapes and flat toe angles in vehicles to achieve extended fatigue life on chassis components, thereby promoting market growth. To that end, welding consumables are used to join materials of varying thicknesses and bridge gaps in order to reduce vehicle weight and improve fuel efficiency. Other factors, including the development of semi-automatic and automatic welding production systems and their utilisation in various small- and large-scale industrial sectors, are anticipated to drive the market further across the region. Also, significant production of electrical and electronic products is primarily driving the demand for micro welding machines.

According to the report, the market is segmented into five major countries, including China, Japan, India, Australia, and South Korea. Among them, China is the major provider of electronic products across the globe, which significantly encourages its global trade operations. China exports a large number of electronic components that are utilised in televisions and smartphones. China is the largest market for welding equipment and consumables in the Asia-Pacific region. The country has a strong manufacturing sector, which drives the demand for welding products. China is home to many large manufacturers of welding equipment and consumables, including Beijing Time Technologies, Hangzhou Xiaoshan Shunhe Metal Hose, and Shenzhen Riland Industry. The Chinese government is investing heavily in infrastructure development, which is driving the demand for welding products in the country. For example, the country's Belt and Road Initiative, which aims to boost trade and connectivity across Asia, Europe, and Africa, has led to increased demand for welding products in infrastructure projects. The welding industry in China is also moving towards higher-end products and technologies, such as robotic welding and laser welding. The country's welding equipment manufacturers are investing in research and development to develop innovative products and technologies.

With the increasing number of infrastructure projects and the need for repair and maintenance, the demand for welding consumables is expected to increase. Additionally, the increasing demand for lightweight and fuel-efficient vehicles in Asia Pacific countries is leading to increased demand for welding consumables in the automotive industry. The automotive industry uses welding consumables for the manufacturing of various parts, including body parts, engine parts, and transmission parts. Further, the growing focus on renewable energy sources in Asia-Pacific countries, such as China, Japan, and South Korea, is increasing the demand for welding consumables. Renewable energy sources, such as wind turbines and solar panels, require welding consumables for their manufacturing and maintenance. Furthermore, technological advancements are leading to the development of new and improved welding consumables, which are in high demand in the Asia-Pacific market. The use of advanced welding consumables results in increased productivity and efficiency, which is driving their adoption. Additionally, the growing industrialization in Asia-Pacific countries is increasing the demand for welding consumables. The increasing number of factories, workshops, and plants in the region is leading to increased demand for welding consumables for maintenance, repair, and construction.

Increasing construction activity, especially in countries such as China and India, and a rise in automobile users are key factors expected to sustain the global market for welding equipment during the forecast period. In addition, higher demand from the oil and gas industry and expanding networks of transportation are further supporting market growth. Moreover, the proliferation of end-use applications that require welding is also expected to benefit the welding equipment market in the near future. On the other hand, a sluggish adoption rate of advanced welding technologies in emerging economies such as India could inhibit the overall market growth during the forecast period. Key automotive manufacturing companies are expanding their manufacturing plants in Japan to cater to the demand for automotive parts in the region. For example, in May 2022, GESTAMP SERVICIOS, S.A. expanded its automotive hot stamping parts production plant by constructing a new plant on its Matsusaka, Japan, premises. The expansion is in response to rising demand for parts from Japanese automakers.

Arc welding is a popular welding process in the Asia-Pacific region, particularly in the construction, infrastructure, and shipbuilding industries. Arc welding is a broad category of welding processes that includes several sub-processes, such as shielded metal arc welding (SMAW), gas tungsten arc welding (GTAW), and gas metal arc welding (GMAW). These sub-processes are commonly used in the Asia-Pacific region, depending on the application and industry. The demand for arc welding in the Asia-Pacific region is driven by various industries, including construction, infrastructure, shipbuilding, and automotive. The region's growing urbanization and infrastructure development are expected to drive the demand for arc welding products and services in the future. Arc welding equipment manufacturers in the Asia-Pacific region are investing in research and development to develop innovative products and technologies. For example, some companies are developing arc welding robots that can perform complex tasks with high precision. On the other hand, based on consumables, the stick electrodes segment will lead the market in 2022.

Asia-Pacific is the world's largest producer and consumer of welding equipment, accessories, and consumables, with nearly all major manufacturers and end-use companies present. It has experienced tremendous growth in recent years, owing to its growing population, favourable investment policies, expanding economies, and government initiatives aimed at promoting the region's electronics and automobile industries. Low labour costs, combined with favourable import-export policies, have made APAC an ideal market for automotive OEMs and electronics manufacturers, which will drive regional demand for welding equipment, accessories, and consumables. The use of digital technologies such as the Internet of Things (IoT), artificial intelligence (AI), and big data is becoming more widespread in the welding industry in the Asia-Pacific region. Manufacturers are developing products with features such as remote monitoring and control, predictive maintenance, and data analytics to improve performance and reduce downtime. With the on-going development of new welding technologies and processes, there is a growing need for training and education in the Asia-Pacific region. Many companies are investing in training programmes and partnerships with educational institutions to develop a skilled workforce capable of using the latest welding equipment and techniques.

Recant Product Launches:

• Miller Electric Manufacturing Co. launched the Dynasty 400 and Maxstar 400 welding machines in the Asia-Pacific region in 2021. These machines are designed for industrial welding applications and offer advanced features such as improved arc stability, remote amperage control, and wireless connectivity.
• Lincoln Electric launched the Power Wave C300 welding machine in the Asia-Pacific region in 2020. This machine is designed for robotic welding applications and offers advanced features such as Waveform Control Technology, which helps to minimize spatter and improve weld quality.
• ESAB Welding & Cutting Products launched the Rebel EMP 205ic AC/DC welding machine in the Asia-Pacific region in 2021. This machine is designed for welding a variety of materials, including aluminum, stainless steel, and carbon steel. It offers advanced features such as AC/DC TIG and stick welding modes, a color LCD display, and a rugged design for use in harsh environments.
• Hyundai Welding Co. launched the Supercored 71 welding consumable in the Asia-Pacific region in 2021. This consumable is designed for welding high-strength steels and offers excellent weld quality and performance.
• Kiswel Ltd. launched the K-71T welding consumable in the Asia-Pacific region in 2020. This consumable is designed for welding mild steel and offers excellent arc stability, low spatter, and easy slag removal.

Companies Mentioned in this Report:

Lincoln Electric Holdings Inc, Illinois Tool Worker Inc, Kobe Steel, ltd., Air Liquide, Linde Plc, Messer GMBH, Voestalpine Bohler Welding Group GmbH, Daihen Corporation, Hyundai Welding Co., Ltd., Air Products and Chemicals, Inc., Antalntic China Welding Consumable, Inc, Fronius International GmbH, Kemppi Oy., Obera Group Inc., Amada Weld Tech, Swagelok Company, Carl clood Welding Technology Gmbh, Panasonic Corporation, Tianjin Bridge Welding Materials Group Co., Ltd, ESAB Corporation.

Considered in this report

• Geography: Asia-Pacific
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Asia-Pacific Welding Equipment & Consumables market with its value and forecast along with its segments
• Country-wise Welding Equipment & Consumables market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report:

• China
• Japan
• India
• Australia
• South Korea

By Equipment type:

• Electrodes & Filler Metal Equipment
• Oxy-fuel Gas Equipment
• Other Equipment

By Consumable Type:

• Stick electrodes
• Solid wires
• Flux-cored wires
• SAW wires and Fluxes
• Others (gases, rods, etc.)

By Technology Type:

• Arc Welding
• Oxy-fuel Welding
• Others (Resistance welding, Laser beam welding, plasma arc welding, electron beam welding, Atomic Hydrogen Welding, Forge Welding, Thermite Welding, Submerged Arc Welding (SAW), Flux-cored arc welding (FCAW))

By End-User:

• Automotive
• Fabrication
• Building & Construction
• Marine
• Power
• Oil & Gas
• Others (Maintenance & Repair, Offshore, Pipe Mill, Pipeline, Aerospace, etc.)

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Welding Equipment & Consumables industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.