Global sales of welding fume extraction equipment are expected to grow at a CAGR of 5.5% from 2023 to 2033, with the market value projected to reach USD 7.4 billion by 2033, up from USD 4.3 billion in 2023.
The demand for welding fume extraction equipment is anticipated to rise globally, with no geographic limitations. Industries recognize the importance of investing in efficient extraction systems to comply with legal regulations and ensure safer workplaces for employees. Additionally, stringent environmental regulations concerning workplace exposure to harmful gases generated during welding processes have contributed to this global trend.
Market dynamics are influenced by various drivers and challenges, affecting businesses in the sector.
Furthermore, an increase in construction projects driven by a growing economy and population is boosting the use of welding fume extraction equipment on job sites, supporting overall market growth. Effective marketing strategies for promoting welding fume extraction equipment include targeted advertising, participation in trade fairs and exhibitions, and online marketing efforts.
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.
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
Report Preview: https://www.futuremarketinsights.com/reports/welding-fume-extraction-equipment-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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