In a projection of sustained growth, the global market for welding fume extraction equipment is poised to achieve a robust Compound Annual Growth Rate (CAGR) of 5.5% within the timeline spanning from 2023 to 2033. This trajectory is set to propel the market’s overall valuation to an estimated US$ 7.4 billion by the year 2033, marking a substantial surge from the 2023 value of US$ 4.3 billion.
The demand for welding fume extraction equipment is on the cusp of global expansion, transcending geographical borders. Industries universally recognize the imperative of investing in efficient welding fume extraction systems, not only to comply with regulatory standards but also to enhance workplace safety for their workforce. Moreover, the stringent environmental regulations surrounding workplace exposure to hazardous gases generated during welding processes have amplified this widespread transition, ushering in a safer and cleaner industrial landscape.
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In addition, more building projects are underway to meet the demands of a booming economy and population. So, the higher use of welding fume extraction equipment at building and construction sites is helping the overall market as a whole to grow. Other effective marketing techniques for popularizing welding fume extraction equipment can be targeted advertising, participation in trade fairs and exhibits, and internet marketing.
Key Takeaways:
- By the end of 2033, the market in the United States is expected to progress at an annual growth rate of 5.4%. This regional market could contribute to a revenue share of US$ 1.4 billion by following this higher CAGR than other countries by 2033.
- In terms of worldwide revenue, China alone is poised to account for a sizeable market share of 20% by the end of 2033. This regional market is projected to capture a 5.3% CAGR until 2033, concluding at US$ 1.6 billion.
- In terms of units, the mobile welding fume extraction equipment segment is poised to advance at a CAGR of 5.4% over the next ten years. Its sales remain higher as it is excellent for areas where there may be a need for more space due to its small size.
- Arc welding is widely used in many applications, increasing its sizeable revenue share in the overall market among all application segments. During the forecast years, the revenue share obtained from sales of fume extraction equipment for arc welding is poised to grow at 5.2%.
Competitive Landscape:
Parker Hannifin, Fumex, AAF International, Air Quality Engineering, and Lasermet are some leading players in the global welding fume extraction equipment market. To tap into expanding markets and broaden their consumer base, leading welding fume extraction equipment manufacturers are expanding their operations into new geographic areas.
While meeting the unique needs of distinct regions requires setting up regional production facilities, distribution networks, and sales and service centers. So, the overall market is anticipated by FMI to get diversified further in the coming days with the emergence of new market players.
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Recent Market Developments:
KEMPER Company released the WallMaster filtration system in August 2020 to aid metalworking businesses in optimizing employee safety during welding processes. It is a fixed filter machine that can accommodate two workstations simultaneously and is made especially for filtering medium amounts of welding fumes.
Key Segmentation:
By Product Type:
- Mobile Units
- Stationary Units
- Large Centralized Systems
By Application:
- Arc Welding
- Resistance Welding
- Laser Beam Welding
- Oxy-fuel Welding
- Other Applications
By Region:
- North America Market
- Latin America Market
- Europe Market
- East Asia Market
- South Asia and Pacific Market
- The Middle East and Africa (MEA) Market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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