Global Submerged Arc Welding Market Overview
The Submerged Arc Welding Market Size was estimated at 12.41 (USD Billion) in 2022.The Submerged Arc Welding Industry is expected to grow from 12.83(USD Billion) in 2023 to 17.32 (USD Billion) by 2032. The Submerged Arc Welding Market CAGR (growth rate) is expected to be around 3.39% during the forecast period (2024 - 2032).
Key Submerged Arc Welding Market Trends Highlighted
The need for submerged arc welding (SAW) is growing in industries such as automotive, shipbuilding, and civil engineering, and this, too, is fueling the increase in the SAW market across the world. Apart from this, the increased adoption of high-strength steels and the desire for more welding efficiency and productivity are also among the factors adding to growth in the market.
The lateral development of new technologies such as narrow gap welding or flux-cored wires, has paved the way to obtain high welding quality, low welding duration, and low production costs. These innovations are likely to be additional growth applications in the market in the near future.
In addition, increase in SAW process adoption, owing to growing environmental awareness and tough regulations, since it generates lower levels of welding smoke and toxic fumes when compared with other welding techniques. This factor is expected to enhance market demand in industries where there are strict eco-friendly practices required.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Submerged Arc Welding Market Drivers
Rising Demand for Efficient and High-Quality Welding Processes
The global Submerged Arc Welding Saw market is poised to grow due to increased use of sawing techniques across various sectors, the Primary factor supporting the growth of the Submerged Arc Welding Market. One of the major advantages of SAW over other welding techniques is that it is a very productive process that makes it possible to obtain a quality weld at minimal operational costs. With the aim of enhancing and improving the level of productivity and quality of produced goods in many industries, the needs for various effective and high-quality welding solutions like SAW are anticipated to increase, hence promoting the growth of the global market.
Technological Advancements and Innovation
The global SAW market is also benefiting from continuous efforts in technology and innovation. Research and development emerging to improve the performance and operational effectiveness of SAW apparatus and consumables are being undertaken by manufacturers. These include new technologies for carrying out welding, new types of welding fluxes, and weld automation. These developments are not only enhancing the efficiency and quality of SAW processes but also diversifying the scope of SAW into more industries, leading to the expansion of the global SAW market.
Increasing Infrastructure Development and Construction Activities
The SAW market globally is intricately intertwined with the construction industry as the sector is one of the significant consumers of welded products. The increase in the development of infrastructure and construction projects around the world is driving the demand for SAW equipment and consumables. The phenomenal benefits of SAW, including the high quality of welds, increased productivity, and solid cost-saving features, have made it a popular technique across the industry.Both government bodies and private companies are keen on developing infrastructure, including bridges, buildings, and pipelines, to ease economic and social activities. That being the case, the demand for SAW equipment and consumables will continue to increase, thereby driving the market.
Submerged Arc Welding Market Segment Insights
Submerged Arc Welding Market Process Insights
The Global Submerged Arc Welding (SAW) Market segmentation is driven by process, in which automatic and semi-automatic welding dominate due to their advantages. Automatic SAW is gaining rapid adoption owing to its high efficiency and productivity. In 2023, the automatic segment held a larger revenue share compared to semi-automatic, primarily due to its wide application in high-volume production industries such as automotive and shipbuilding. Semi-automatic SAW, on the other hand, is preferred in smaller workshops and for applications requiring flexibility and portability.The Submerged Arc Welding Market revenue is projected to reach USD 13.52 billion in 2024 and is expected to exhibit a CAGR of 3.8% during the forecast period (2024-2030). The increasing demand for SAW in various industries, including construction, automotive, and shipbuilding, is driving the growth of the market. SAW offers several advantages over other welding processes, such as high deposition rates, deep penetration, and minimal spatter, which makes it suitable for a wide range of applications. The market is further supported by technological advancements and the development of new welding consumables and equipment.The Asia Pacific region is expected to remain the dominant market for SAW due to the presence of major shipbuilding and manufacturing hubs in countries such as China, Japan, and South Korea. The region is also witnessing significant growth in the construction sector, which is further fueling the demand for SAW. North America and Europe are other key markets for SAW, with a strong presence in the automotive and manufacturing industries. The growing demand for automated welding solutions in these regions is expected to drive the adoption of automatic SAW systems.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Submerged Arc Welding Market Application Insights
The Submerged Arc Welding Market is segmented into various applications, including shipbuilding, fabrication, heavy equipment manufacturing, power generation, and automotive. Among these, shipbuilding is expected to hold the largest market share in the coming years due to the increasing demand for new ships and the need for repair and maintenance of existing vessels. The fabrication sector is also expected to witness significant growth, driven by the rising construction activities in various industries. The heavy equipment manufacturing industry is another key application segment, with increasing demand for welded components in construction machinery, mining equipment, and agricultural machinery.The power generation industry is also a major consumer of submerged arc welding, as it is used in the construction and maintenance of power plants. Lastly, the automotive industry is expected to contribute to the growth of the submerged arc welding market, with increasing demand for welded components in vehicles.
Submerged Arc Welding Market Material Insights
The Submerged Arc Welding Market is segmented by Material into Alloy Steel, Carbon Steel, and Stainless Steel. Among these, the Carbon Steel segment held the largest market share of 42.3% in 2023. The growth of this segment can be attributed to the increasing demand for carbon steel in various industries such as construction, automotive, and shipbuilding. The Stainless-Steel segment is expected to witness the fastest growth during the forecast period, owing to its excellent corrosion resistance and strength properties. The Alloy Steel segment is also expected to grow at a significant rate due to its high strength and wear resistance properties.
Submerged Arc Welding Market Wire Diameter Insights
The Wire Diameter segment is a crucial aspect of the Submerged Arc Welding Market, influencing market growth and industry dynamics. In 2024, the 'Less than 1.2 mm' segment held a significant market share due to its extensive use in thin metal fabrication and precision welding applications. The '1.2 to 2.4 mm' segment is projected to witness steady growth, driven by its versatility in various industrial sectors, including automotive, shipbuilding, and construction. The '2.4 to 4 mm' segment caters to heavy-duty welding applications and is expected to maintain a stable market presence.The 'More than 4 mm' segment holds a niche position, primarily serving specialized industries with high-volume welding requirements. Overall, the Wire Diameter segment offers a diverse range of options to meet the specific needs of different welding applications, contributing to the Submerged Arc Welding Market revenue and segmentation.
Submerged Arc Welding Market Regional Insights
The Submerged Arc Welding Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA. North America is the largest market for Submerged Arc Welding, followed by Europe and Asia-Pacific. The growth of the Submerged Arc Welding market in North America is attributed to the increasing demand for welding in the automotive, construction, and shipbuilding industries. The European market is also expected to grow significantly due to the increasing demand for welding in the automotive and construction industries. The Asia-Pacific market is expected to grow at the highest CAGR during the forecast period.The growth of the Submerged Arc Welding market in Asia-Pacific is attributed to the increasing demand for welding in the automotive, construction, and shipbuilding industries. The South American and MEA markets are expected to grow at a moderate pace during the forecast period.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Submerged Arc Welding Market Key Players And Competitive Insights
Principal companies in the Submerged Arc Welding Market industry are emphasizing an increase in their global presence and portfolio of products to meet the requirements of customers for advanced welding solutions. The market for submerged arc welding is driven by different factors, which include an increase in the requirement for automation of the manufacturing processes and the formulation of stringent regulatory guidelines for maintaining the quality of welding. In addition to this, an increase in the use of advanced materials is creating growth opportunities for the market players in the submerged arc welding market. The development of the Submerged Arc Welding Market facility is providing advancement in the quality of the welding process and is increasing the demand for this technology across various geographies. A few major competitors in the Submerged Arc Welding Market include a mix of global market leaders as well as regional welding machinery manufacturers. Some of the common strategies followed by the players in the industry are establishing partnerships and creating value-based acquisitions.
A prominent player in the Submerged Arc Welding Market is Lincoln Electric, which provides a complete and seamless submerged arc welding system along with consumables. This facility includes providing solutions to different industries and focuses primarily on innovation and solutions for the customers. There exists a better opportunity for the company to capitalize on the market growth since Lincoln Electric realizes that the development of its product portfolio should be coupled with advancement in the technology of the product. The development of next-generation machines is expected to drive the growth in the market. In addition to this, the company has existing facilities in different parts of the world and maintains distribution networks to cater to the various customer requirements across different industries.Another primary competitor in the Submerged Arc Welding Market is ESAB, which is a global market leader in welding equipment, consumables and automation systems for a range of applications such as equipment for heavy fabrication, material pressure vessels and pipelines. ESAB invests heavily in research and development of welding technologies to develop products that are safe and improve productivity. ESAB has a number of manufacturing units throughout the world and also has a distribution network, which develops, markets and sells its products across different regions. ESAB has a vast range of submerged arc welding equipment and consumables for shipbuilding applications, and it is expected that the company will continue to invest highly in the research and development of new welding products to maintain its position in the Submerged Arc Welding Market.
Key Companies in the Submerged Arc Welding Market Include
- Castolin Eutec
- AGA Gas AB
- Parker Hannifin
- ESAB
- ThyssenKrupp AG
- Harris Products Group
- Air Liquide
- Fronius
- Welding Industries of America (WIA)
- Praxair Surface Technologies
- Lincoln Electric
- Hobart Brothers
- Messer Group
- Miller Electric Mfg. LLC
Submerged Arc Welding Market Industry Developments
The Submerged Arc Welding Market is projected to reach USD 17.32 billion by 2032, exhibiting a CAGR of 3.39% during the forecast period (2024-2032). Rising demand for SAW in shipbuilding, construction, and automotive industries is driving market growth. Additionally, the increasing adoption of advanced SAW techniques, such as narrow gap welding and tandem SAW, is expected to fuel market expansion. The market is witnessing the emergence of new technologies, such as virtual reality (VR) and augmented reality (AR), which offer remote assistance and training for SAW operators, enhancing productivity and safety. Key players in the market include Lincoln Electric, ESAB, Voestalpine Bhler Welding, and The Harris Products Group. Recent developments include ESAB's launch of a new SAW system, Aristo Tech 500, designed for high-speed welding applications, and Lincoln Electric's acquisition of Baker Industries to expand its SAW product portfolio.
Submerged Arc Welding Market Segmentation Insights
- Submerged Arc Welding Market Process Outlook
- Submerged Arc Welding Market Application Outlook
- Shipbuilding
- Fabrication
- Heavy Equipment Manufacturing
- Power Generation
- Automotive
- Submerged Arc Welding Market Material Outlook
- Alloy Steel
- Carbon Steel
- Stainless Steel
- Submerged Arc Welding Market Wire Diameter Outlook
- Less than 1.2 mm
- 2 to 2.4 mm
- 4 to 4 mm
- More than 4 mm
| Report Attribute/Metric |
Details |
| Market Size 2022 |
12.41(USD Billion) |
| Market Size 2023 |
12.83(USD Billion) |
| Market Size 2032 |
17.32(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.39% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Castolin Eutec, AGA Gas AB, Parker Hannifin, ESAB, ThyssenKrupp AG, Harris Products Group, Air Liquide, Fronius, Welding Industries of America (WIA), Praxair Surface Technologies, Lincoln Electric, Hobart Brothers, Messer Group, Miller Electric Mfg. LLC |
| Segments Covered |
Process, Application, Material, Wire Diameter, Regional |
| Key Market Opportunities |
Growing infrastructure, rising demand for high-strength welds, technological advancements shipbuilding industry and expanding energy sector |
| Key Market Dynamics |
Rising infrastructure development, increasing automation, growing demand for high-quality welds, advancements in technology and fluctuating raw material prices |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Submerged Arc Welding Market is expected to reach USD 12.83 billion in 2023.
The Submerged Arc Welding Market is projected to grow at a CAGR of 3.39% from 2024 to 2032.
Key applications of Submerged Arc Welding include shipbuilding, construction, and heavy machinery manufacturing.
Key competitors in the Submerged Arc Welding Market include Lincoln Electric, ESAB, and Voestalpine Bhler Welding.
The Submerged Arc Welding Market is expected to reach USD 17.32 billion by 2032.
Factors driving the growth of the Submerged Arc Welding Market include increasing demand from the shipbuilding industry and growing construction activities.
Challenges faced by the Submerged Arc Welding Market include fluctuating raw material prices and competition from other welding technologies.
Opportunities for growth in the Submerged Arc Welding Market include the development of new technologies and the expansion of the market into new regions.
Key trends in the Submerged Arc Welding Market include the adoption of automation and the increasing use of robotics.
