Welding Equipment Market By Technology (Arc Welding, Oxy-fuel Welding, Resistance Welding, Laser Beam Welding, and Others), By End User (Building & Construction, Automotive & Transportation, Marine sector, Oil & Gas, Aerospace & Defense, and Others), and By Region- Trends, Analysis and Forecast till 2030

The market for welding equipment was valued at US$12.91 billion in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 6.1% to reach US$23.24 billion by 2030. Geographically speaking, the welding equipment market is divided into Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. It is anticipated that the welding equipment market will develop at the fastest rate in Asia Pacific. The market in this region is driven by the emergence of the building industry in China and India as well as the government's assistance for economic development. Europe has seen tremendous growth during the projection.