Welding Power Supply Market Size, Trends, Share, Growth, and Opportunity Forecast, 2023 - 2030 Global Industry Analysis By Type (Constant Current Power Supply, Constant Voltage Power Supply), By Technology (Inverter-Based Power Supply, Transformer-Based Power Supply), By End-User (Automotive, Construction, Aerospace, Manufacturing, and Shipbuilding), and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

Welding Power Supply Market Size, Trends, Share, Growth, and Opportunity Forecast, 2023 - 2030 Global Industry Analysis By Type (Constant Current Power Supply, Constant Voltage Power Supply), By Technology (Inverter-Based Power Supply, Transformer-Based Power Supply), By End-User (Automotive, Construction, Aerospace, Manufacturing, and Shipbuilding), and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)
Region: Global
Published: April 2024
Report Code: CGNEAS557
Pages: 220

The Global Welding Power Supply Market was valued at USD 12.2 Billion in 2022 and is anticipated to reach a value of USD 18.2 Billion by 2030 expanding at a CAGR of 5.3% between 2023 and 2030.

The market for welding power supplies is projected to grow significantly, mainly because of the increasing demand from the equipment manufacturing industries. Technological developments have brought about significant changes, leading to the introduction of novel welding power supply options that are highly efficient and perform well. In addition, the growing automotive sector greatly increases the need for welding power supply solutions, supported by the necessity for producers to fulfill increasing production demands while maintaining strict quality requirements. Moreover, the widespread integration of automation and robotics into welding processes acts as a major driver of market growth. These technologies are effortlessly integrated with modern welding power supply systems, increasing levels of precision and productivity. When taken as a whole, these factors highlight how the market has changed and establish welding power supply as a crucial element in many different industries.

Welding Power Supply Market Major Driving Forces

Technological Advancements: Precision in welding operations and inverter-based systems, as well as digital control interfaces, are examples of ongoing advances in welding power supply technology.

Growing Industrialization: The need for welding power supply solutions to support fabrication and assembly operations is driven by the growing industrialization of a number of industries, including aerospace, automotive, construction, and manufacturing.

Growing Need for Machinery Manufacturing: In order to support the manufacture of parts and assemblies used in a variety of applications, welding power supply systems are required. This demand is driven by the expanding global market for machinery and equipment.

Growth of the Automotive Industry: As a result of urbanization, population increase, and technical developments, the automotive industry is growing, which raises the need for welding power supply equipment in the manufacturing and assembly of vehicles

Emphasis on Infrastructure Development: The construction of buildings, bridges, and transportation networks, among other infrastructure development projects around the world, places a strong emphasis on the need for welding power supply solutions for combining materials and welding structural components.

Adoption of Automation and Robots: In order to increase productivity and accuracy, welding operations are increasingly utilizing automation and robots, which calls for sophisticated welding power supply systems that can interface with automated equipment.

Welding Power Supply Market Key Opportunities

Innovation and Continuous Improvement: In a market that is changing quickly, innovation and continuous improvement in all facets of product creation, production procedures, and customer service guarantee competitiveness and relevance.

Adoption of Green Technologies: Using green technologies is in line with sustainability objectives. Examples of these include welding systems that run on renewable energy or zero-emission welding procedures.

Growth into New Applications: By investigating prospects in cutting-edge fields like microwelding, advanced materials joining, and additive manufacturing, a company can expand and fortify its position in the market.

Welding Power Supply Market Key Trends

·         Increasing adoption of inverter-based welding power supply units due to their compact size, energy efficiency, and improved arc stability compared to traditional transformer-based systems.

·         Growing preference for digital welding solutions equipped with advanced features such as touchscreen interfaces, programmable settings, and connectivity options for remote monitoring and control.

·         Increasing demand for multi-process welding power supply units capable of performing various welding processes, including MIG, TIG, stick, and flux-cored welding, to enhance versatility and productivity in distinct applications.

·         Preference for portable and lightweight welding power supply units, especially in construction, repair, and maintenance applications, to facilitate ease of transportation and maneuverability on job sites.

·         Demand for customizable and modular welding power supply systems that allow users to tailor configurations, accessories, and welding parameters to specific application requirements for enhanced flexibility and performance.

·         Increasing adoption of welding automation and robotic systems integrated with advanced welding power supply units for high-speed, precision welding in automotive, aerospace, and manufacturing industries.

Region-wise Market Insights

Asia Pacific accounted for the largest market share at 33.79% in 2022 and is expected to register the fastest growth, expanding at a CAGR of 5.5% between 2023 and 2030.

North America's substantial industrialization, infrastructure development, and technical improvements have led to a significant market share. In this market, Europe is showing consistent expansion, supported by robust manufacturing sectors, strict quality requirements, and rising investments in the construction, aerospace, and automotive industries. Driven by swift industrialization, infrastructural development, and growing automotive and manufacturing industries, Asia-Pacific is emerging as a major growth zone. In addition, the market for welding power supplies is growing moderately in South America thanks to rising investments in the building and automotive industries, mining operations, and infrastructure development. Conversely, the Middle East and Africa exhibits encouraging growth potential, driven by regional construction, oil and gas development, and infrastructure initiatives.

Market Competition Landscape

There is fierce rivalry in the welding power supply industry, with several players vying for market supremacy. Innovation in product offers, clever pricing methods, broad distribution networks, and thorough after-sale service are important factors that determine competitiveness. To gain a competitive edge, businesses emphasize distinction through technical innovations, customizable features, and additional services. Partnerships, alliances, and mergers are common strategies used to increase market share and leverage complementary skills. In the face of growing consumer demand for efficient welding solutions, market participants are constantly working to improve the quality of their product offerings and customer satisfaction in order to remain competitive in this ever-changing landscape.

Key players in the global welding power supply market implement various organic and inorganic strategies to strengthen and improve their market positioning. Prominent players in the market include:

·         ESAB

·         Kemppi Oy

·         The Lincoln Electric Company

·         FANUC

·         Miller Electric Mfg. LLC

·         Fronius International GmbH

·         Panasonic Connect Co., Ltd.

·         Carl Cloos Schweisstechnik GmbH

·         Illinois Tool Works

·         Costruzioni Elettromeccaniche Annettoni S.p.A.

·         daihen

·         Ador

·         Mitco Weld Products Pvt. Ltd.

·         ICEC Company

·         Denyo Co., Ltd.

·         ENTRON Controls, LLC.

·         Golden Spot Industry Inc.

·         Gullco International

·         HyperthermAssociates

Report Attribute/Metric


Market Revenue in 2022

USD 12.2 Billion

Market Revenue in 2030

USD 18.2 Billion

CAGR (2023 – 2030)


Base Year


Forecast Period

2023 – 2030

Historical Data

2018 to 2022

Forecast Unit

Value (US$ Bn)

Key Report Deliverable

Revenue Forecast, Growth Trends, Market Dynamics, Segmental Overview, Regional and Country-wise Analysis, Competition Landscape

Segments Covered

·   By Type (Constant Current Power Supply, Constant Voltage Power Supply)

·   By Technology (Inverter-Based Power Supply, Transformer-Based Power Supply)

·   By End-User (Automotive, Construction, Aerospace, Manufacturing, and Shipbuilding)

Geographies Covered

North America: U.S., Canada and Mexico

Europe: Germany, France, U.K., Italy, Spain, and Rest of Europe

Asia Pacific: China, India, Japan, South Korea, Southeast Asia, and Rest of Asia Pacific

South America: Brazil, Argentina, and Rest of Latin America

Middle East & Africa:  GCC Countries, South Africa, and Rest of Middle East & Africa

Key Players Analyzed

ESAB, Kemppi Oy, The Lincoln Electric Company, FANUC, Miller Electric Mfg. LLC, Fronius International GmbH, Panasonic Connect Co., Ltd., Carl Cloos Schweisstechnik GmbH, Illinois Tool Works, Costruzioni Elettromeccaniche Annettoni S.p.A., daihen, Ador, Mitco Weld Products Pvt. Ltd., ICEC Company, Denyo Co.,Ltd., ENTRON Controls, LLC., Golden Spot Industry Inc., Gullco International, HyperthermAssociates

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