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|NDT.net Issue - 2008-06 - NEWS |
|Wellesley, Mass—According to a new technical market research report, WELDING EQUIPMENT AND SUPPLIES: THE GLOBAL MARKET (AVM040B) from BCC Research (www.bccresearch.com), the global market for welding equipment and supplies will be worth $13.2 billion by the end of 2008. It is expected to increase to $16.8 billion by 2013, a compound annual growth rate (CAGR) of 5.0%.
The market is broken down into applications of welding equipment and consumables, various gases for welding, safety and protective equipment, and welding robots and accessories. Of these, welding equipment and consumables have the largest share of the market. Worth an estimated $10.7 billion by the end of 2008, this segment should reach $13.6 billion in 2013, a CAGR of 5.0%. This segment is a steadily growing one as consumables are required not only for new equipment but also for all existing equipment.
Various gases for welding have the second largest share of the market. Expected to be worth $2.0 billion in 2008, this segment should reach $2.6 billion by the end of the study period, for a CAGR of 5.4%. Various gases are used for shielding as well as for the actual process of welding in many types of welding. This is a market where additional equipment comes into the market every year.
The safety and protective equipment segment will be worth $406 million by the end of 2008. It should reach $487 million by the end of the study period, for a CAGR of 3.7%. This segment is growing steadily as safety regulations are enforced globally.
More industries are automating their production to a large extent, and robot welding is becoming a standard feature of such automation. The market for welding robots is growing at a higher rate than any other market for industrial robots. Expected to be worth $108 million in 2008, this segment should reach $148 million by the end of the study period, for a CAGR of 6.5%.
Sales and Forecas ts of Various Types of Welding Equipment and Consumables, 2006-2013 ($ Millions)