GITNUX MARKETDATA REPORT 2024

The Most Surprising Welding Industry Statistics And Trends in 2024

With sources from: grandviewresearch.com, aws.org, fortunebusinessinsights.com, mordorintelligence.com and many more

In this post, we explore key statistics highlighting the diverse landscape of the welding industry. From the dominant presence of Asia Pacific in the market to the projected growth in automation and the pressing challenge of skilled labor shortage, these statistics paint a comprehensive picture of an industry that plays a crucial role in various sectors like manufacturing, automotive, aerospace, and oil & gas. Join us as we delve into the data shaping the present and future of the welding industry.

Statistic 1

"Asia-Pacific is the largest regional market for welding products, driven by enormous industrialization."

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Statistic 2

"The global market for welding robots is expected to reach USD 7.5 billion by 2027."

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Statistic 3

"The U.S. Bureau of Labor Statistics projects a 3% growth rate in welding-related jobs from 2019 to 2029."

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Statistic 4

"Approximately 50% of all manufactured goods require some form of welding."

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Statistic 5

"The global welding consumables market size was valued at USD 12.80 billion in 2020."

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Statistic 6

"More than 60% of all welding done is arc welding."

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Statistic 7

"Welders working in certain industries such as shipbuilding can earn wages of more than $58,000 annually."

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Statistic 8

"The average annual salary for a welder in the United States was approximately $44,190 in 2020."

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Statistic 9

"About 25% of welding-related injuries are burns, the most common type of injury in the welding industry."

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Statistic 10

"The global welding market was valued at USD 21.31 billion in 2020."

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Statistic 11

"The automotive and transportation segment accounted for 30% of the welding products market share in 2020."

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Statistic 12

"The automation in welding processes is increasing with robotic welding systems expected to grow at a CAGR of 7.9% from 2021 to 2028."

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Statistic 13

"The American Welding Society has over 70,000 members globally."

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Statistic 14

"The welding industry in the United States employs approximately 410,000 welders, cutters, solderers, and brazers."

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Statistic 15

"Fumes generated by welding can contain harmful metals like hexavalent chromium and manganese, posing health risks."

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Statistic 16

"The oil & gas industry uses welding extensively, contributing to around 12% of the welding industry revenues."

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Statistic 17

"Plasma arc welding can achieve a weld penetration depth of up to 30 mm in steel."

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Statistic 18

"Training for welders can be completed in as little as 6 months, with more advanced certifications taking longer."

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Statistic 19

"North America's welding market share was around 25% in 2020."

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Statistic 20

"Laser beam welding's market value is projected to grow to USD 3.52 billion by 2025."

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Interpretation

In conclusion, the welding industry is a robust and dynamic sector characterized by significant regional variations and a range of opportunities and challenges. Asia Pacific leads the market in welding equipment sales, while the global market continues to grow steadily. Arc welding remains the predominant method of welding operations, though automation is expected to revolutionize efficiency and safety. Various end-use segments like automotive and aerospace are poised for rapid growth, with stainless steel being a prevalent material in the industry. The shortage of skilled welders poses a key challenge, but the rise of additive manufacturing and ongoing market expansion provide new prospects for the sector's future.

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