Market Size of Europe Welding Equipment Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 4.90 Billion |
| Market Size (2029) | USD 5.97 Billion |
| CAGR (2024 - 2029) | 4.05 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Welding Equipment Market Analysis
The Europe Welding Equipment Market size is estimated at USD 4.90 billion in 2024, and is expected to reach USD 5.97 billion by 2029, growing at a CAGR of 4.05% during the forecast period (2024-2029).
All construction-related operations worldwide had been halted due to the COVID-19 pandemic and consequent lockdowns. As a result, modular construction projects in various construction segments, such as educational, residential, airports, and others, had decreased, thus significantly impacting demand for prefabricated buildings. In several places, the supply chain had also been interrupted, thus causing a delay in the delivery of construction material required and affecting the construction activities.
- Welding is one of the critical processes employed in the manufacturing sector. The growth of the latter one has a profound impact on the former one. Manufacturing is enjoying a resurgence in Europe, one of the regions with major manufacturing output. Manufacturing is the backbone of the European economy.
- The ongoing 4th Industrial Revolution (Industry 4.0) is impacting manufacturing at a global level, starting with developed countries, and progressively spreading to emerging countries. The ubiquitous use of sensors, along with the expansion of wireless communication and networks, and with the deployment of increasingly intelligent robots and machines, has the potential to transform the way manufacturing is done in Europe.
- Such a digital industrial revolution holds the promise of increased flexibility in production, mass customization, increased speed, better quality, and improved productivity. This scenario has created a need to strengthen the competitiveness of the European welding industry with an in-depth focus on technology.
- As per the industry sources, the market seems mature, and conventional techniques, such as arc welding and resistance welding, are the mostly employed for welding applications by a majority of the end users. Additionally, there is a growing demand for welding robots in the manufacturing industry. With their most extensive use found in the automotive industry, welding robots can easily be reprogrammed to accommodate flexible production processes.
