Welding is the joining together of metal parts by heating the surfaces to the point of melting with a blowpipe, electric arc or other means and adding a filler material to form a pool of molten material that cools to become a strong joint and uniting them by pressing, hammering and other techniques.
Welding is extremely versatile as an industry. Different energy sources can be used for welding, such as electron beam, laser, flame, electric arc and friction and welding can be performed in different environments like under water, open air and even outer space!
Based on the product type welding and cutting equipment market is divided into five categories: arc welding equipment, gas welding equipment, MIG welders, plasma cutting equipment and others. On the basis of end-user welding and cutting equipment market is divided into five categories: energy, shipbuilding, construction, automobile and many other industries.
Asia-Pacific is the largest market for welding and cutting equipment, followed by North America and Europe. China and India can be seen as the countries to watch for future market trends in welding and cutting equipment market, owing to high industrial growth rate, high growth rate in the construction sector and high growth rate of automotive industry in these regions.
China’s economy continues to grow by 7.8%. In 2012, China emerged as the World’s largest steel nation which may boost the market for joining, cutting and surfacing technology. Countries that are part of the BRIC group (Brazil, Russia, India and China) are considered to record the fastest market growth in the coming years.
The market of welding and cutting equipment is expected to grow at a substantial rate through 2020. Some of the major drivers contributing the overall market growth of welding and cutting equipment include increasing demand from the energy, automotive and construction industries. Slow growth of the ship building, aerospace and defense industries are expected to pose challenge to the growth of welding and cutting equipment market.