NEWARK, Del, Sept. 26, 2023 (GLOBE NEWSWIRE) -- The global oxy-fuel welding equipment market is anticipated to reach a valuation of US$ 1.5 billion in 2023, driven by increasing applications in green energy projects like wind turbines. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 6.4% between 2023 and 2033, and reaching a total valuation of approximately US$ 2.8 billion by 2033.
One of the major factors contributing to the growth of the oxy-fuel welding equipment market is the training and skill development. With an aging workforce in welding, there is an opportunity for training and skill development services to ensure the proficient use of oxy-fuel welding equipment. The market can benefit from innovations in safety measures and equipment, addressing concerns related to workplace safety and regulatory compliance.
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Oxy-fuel welding equipment is essential for maintenance and repairs in the oil and gas sector, providing opportunities as the industry expands. Manufacturers can tap into the market by offering customizable welding solutions tailored to specific industrial needs. The aerospace industry demands high-precision welding for aircraft components, creating a niche market for specialized oxy-fuel welding equipment.
Oxy-fuel welding equipment finds applications in residential construction, particularly in regions with housing booms. Investing in research and development for product innovation can lead to breakthroughs in oxy-fuel welding technology, opening up new possibilities. Automation and robotics in welding processes are becoming more prevalent, increasing efficiency and precision.
Data analytics tools are being incorporated into oxy-fuel welding equipment to provide insights into welding performance and quality control. Compact and portable oxy-fuel welding equipment is gaining popularity, especially for on-site repairs and maintenance. Aging infrastructure in developed countries presents opportunities for oxy-fuel welding equipment in repair and rehabilitation projects.
Meeting sustainability goals by developing oxy-fuel welding equipment with reduced carbon emissions can cater to environmentally conscious industries. Partnering with educational institutions to provide welding training and certification programs can help in creating a skilled workforce and expanding the market.
Companies can explore opportunities for vertical integration within the supply chain to ensure the availability of raw materials and components. Developing safety equipment and technologies to enhance worker protection during oxy-fuel welding processes can be a lucrative niche market.
Key Takeaways from the Market Study
- Global oxy-fuel welding equipment market was valued at US$ 1.4 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 5.3%.
- China is expected to hold a dominant CAGR of 6.1% through 2033.
- By process type, oxyacetylene segment to constitute a CAGR of 6.3% through 2033.
- From 2023 to 2033, oxy-fuel welding equipment market is expected to flourish at a CAGR of 6.4%.
- By 2033, the market value of oxy-fuel welding equipment is expected to reach US$ 2.8 billion.
“The fusion of 3D printing and welding technologies is emerging, enabling intricate metal component fabrication, and is expected to propel the growth of the oxy-fuel welding equipment market in the near future”, remarks an FMI analyst.
Report Scope
| Attribute | Details | ||
| Estimated Market Size in 2023 | US$ 1.5 billion | ||
| Projected Market Valuation in 2033 | US$ 2.8 billion | ||
| Value-based CAGR 2023 to 2033 | 6.4% | ||
| Forecast Period | 2023 to 2033 | ||
| Historical Data Available for | 2018 to 2022 | ||
| Market Analysis | Value in US$ billion | ||
| Key Regions Covered |
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| Key Market Segments Covered |
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| Key Countries Profiled |
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Recent Developments:
- In 2023, ESAB Welding & Cutting Products introduced a new oxy-fuel welding safety training program.
- In 2022, Messer Cutting Systems introduced a new line of oxy-fuel welding consumables that are said to improve the quality of welds.
- In 2021, Lincoln Electric launched its new OxyFuel Welding Torch with a digital display.
- In the same year, Colfax Corporation launched its new OxyFuel Cutting Machine with a robotic arm.
- In 2020, Air Liquide announced the launch of its new OxyFuel Welding Training Center in Shanghai, China.
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Segmentation Analysis of the Oxy-fuel Welding Equipment Market
Process Type:
- Oxyacetylene Welding
- Oxyhydrogen Welding
- Pressure Gas Welding
- Others
End Use:
- Energy & Utilities
- Aerospace
- Transportation
- Metal Fabrication
- Maintenance & Repair
- Automotive
- Others
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
Author by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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