Oxy-Fuel Welding Equipment Market Set To Ignite Growth, Projected To Reach US$ 2.8 Billion By 2033 | Analysis By Future Market Insights, Inc.

(MENAFN- GlobeNewsWire - Nasdaq) 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	North America Latin America Western Europe Eastern Europe South Asia and Pacific East Asia The Middle East & Africa
Key Market Segments Covered	Process Type End Use Region
Key Countries Profiled	The United States Canada Brazil Mexico Germany The United Kingdom France Spain Italy Russia Poland Czech Republic	Romania India Bangladesh Australia New Zealand China Japan South Korea GCC countries South Africa Israel
Key Companies Profiled	Illinois Tool Works Inc. Koike Aronson, Inc. Colfax Corporation The Eastwood Company American Torch Tip Company Quality Components Co. Inc. Rexarc International, Inc.	Detroit Torch & Mfg. Co. Flame Technologies, Inc. Rotarex S.A. Uniweld Products, Inc. ESAB Welding & Cutting Products Miller Electric Mfg. LLC Victor Technologies International, Inc.

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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