Welding Industry Statistics & Market Size (2023 Update)
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Note: This article’s statistics come from third-party sources and do not represent the opinions of this website.
Welding is both an art and a skill used in the manufacturing process that joins metals. It uses intense heat to melt and fuse overlaying materials together. Apart from joining metals, you can use it on other materials as well.
It’s no surprise that the welding industry is growing every day. The marketplace is changing. So, having information to help you keep up to date can be an invaluable resource.
In this article, we take a look at statistics on the Welding Industry Market Size, Number of Welders in the Welding Industry, as well as the Average Age of Welders and How Much they make in the Welding Industry.
The 10 Welding Industry Statistics
- The global market for welding gear is projected to reach $15,210 million by the end of 2026. It’ll grow at a CAGR of 4.8% from 2021 to 2026.
- The global welding market was worth $20.23 billion in 2020. It’s projected to grow to $28.66 billion by 2028.
- The global welding-related products market is expected to grow from $30.5 billion in 2021 to $37.2 billion by 2025. That is a CAGR of 5.1%
- The market for welding wires worldwide is expected to grow by $4,958.3 million from 2018 to 2026. That is a CAGR of 5.4%.
- The welding industry in the US will be faced with a deficit of 400,000 welders by 2024.
- There are 592,000 welders in the US welding industry. Out of these, only 5.3% are women.
- About 68.1% of all welders in the US are white. 15.8% are Hispanic, and 9.7% of them are black.
- The average age of an employed welder in the US welding industry is 40 years.
- Welding is one of the best paying industries globally. Welders in European nations, such as Norway and Switzerland, can make more than $118,000 annually.
- In the US, the welding industry is more developed in Texas. The annual welder salary in Texas is $29,000 for a beginner and $69,000 for a seasoned welder.
Welding Industry Market Size
1. The global market for welding gear is projected to reach $15,210 million by the end of 2026. It’ll grow at a CAGR of 4.8% from 2021 to 2026.
The global welding equipment market has grown over the past few years and is expected to continue its growth. The crucial factors driving this growth are construction and infrastructure development.
The growing automotive industry is also contributing to the growth of this market. This trend is expected to continue for several years as the industry will continue to see a high demand for welding equipment across many industries.
This equipment includes all machines and tools that you can use to perform the welding process, such as stick, gas, TIG, and MIG welders. It also includes soldering iron, torches, solder, filler metals, and electrodes. The primary purpose of these tools is to provide heat or pressure for the melting of metals.
The equipment can be automated or manual. Also, it can be powered by electricity, fuel, or compressed gasses.
2. The global welding market was worth $20.23 billion in 2020. It’s projected to grow to $28.66 billion by 2028.
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The welding market worldwide has grown massively over the past few years. It’ll continue to grow by a massive margin up to 2028.
The automotive industry is one of the major contributors to the welding market growth. It needs extensive use of welding processes and equipment to develop different types of vehicles and parts.
Rapid urbanization is resulting in increased demand for automobiles globally in developing countries such as China, India, Brazil, and Russia.
It has increased production activities in the automotive sector. Also, it’s affecting the growth of the global welding market size.
The market for welding-related products has been growing steadily over the past few years. It will experience a massive growth of $6.7 billion between 2021 and 2025.
Evidently, the welding industry is a massive market for countless businesses. It can be divided into many categories, including consumables, equipment, and welding services.
It is a rapidly growing sector, with a compound annual growth rate of more than 5%. This growth rate is high in the Asia-Pacific region.
The industry is growing due to the rising demand for welders. It’s also caused by welding-related merchandise in the construction, manufacturing, and automotive industries.
4. The market for welding wires worldwide is expected to grow by $4,958.3 million from 2018 to 2026. That is a CAGR of 5.4%.
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Welding is a method in which two or more pieces of metal are joined through the application of heat and pressure. Welding wires are used in welding operations to join the two pieces of metal.
The welding wires market worldwide is projected to grow by a massive margin between 2018 and 2022.
These wires can be used for solid electrode welding processes such as arc welding, gas-metal, gas-tungsten, and submerged arc welding processes.
These wires can be made from the same material as the parent metals to be welded. The chains of atoms in weld wire are continuous. It means that they are not broken during the melting process.
The global welding wires market is driven by the demand for fabrication activities across industries. These industries include building and construction, automotive, industrial machinery and equipment, and oil and gas.
Number of Welders in the Welding Industry
5. The welding industry in the US will be faced with a deficit of 400,000 welders by 2024.
The welding industry has been growing by leaps and bounds over the last few years. The growth is attributed to the increasing demand for products made from metal.
Besides, there has been a significant increase in demand for metal products in the energy and manufacturing sectors.
But there are few welders in the US. It means that the country may have a deficit of welders if nothing is done to salvage the situation. The need for skilled welders is rising as demand for welders still exceeds supply.
Most of the current welding operators are older and nearing retirement. Also, there’s a lack of incoming experienced welders in the US.
6. There are 592,000 welders in the US welding industry. Out of these, only 5.3% are women.
The US welding industry has more than half a million welders. Women make up the smallest percentage. One reason is that many people perceive welding as a physically demanding job that needs great strength. In addition, the welding industry is male-dominated, and women are more likely to be discouraged from joining it.
But if you’re a woman interested in becoming a welder, don’t let that stop you! There are opportunities out there for female welders. Being a vital part of the US economy, the industry contributes to various other industries, and women are encouraged to be part of it.
7. About 68.1% of all welders in the US are white. 15.8% are Hispanic, and 9.7% of them are black.
Welding is the most sought-after career in the United States. Many factors such as high wages, benefits, and plenty of job opportunities make it such a desirable job.
However, this field lacks diversity when compared to other industries. If you look at the statistics for welders in the US, it’s clear that whites dominate this field. Blacks are few in this industry. But many welding companies are increasingly employing other people to bridge the gap.
Average Age of Welders and How Much they make in the Welding Industry
8. The average age of an employed welder in the US welding industry is 40 years.
Most welders in the US welding industry are in their 40s. Most welders will reach their peak earning potential by the time they are 35 to 45 years old. At this age, most of them are at their physical prime and have the most experience.
The average age of an employed welder is higher than the average of all occupations, which is about 35 to 38 years old. The reason is that welding is an industry based on experience, not training.
The work that welders do is highly specialized. But, it’s also one of the most demanding and physically taxing. Welders spend their days bending, crouching, kneeling, and standing while doing their work.
The job requires a high level of experience and meticulous attention to detail. It’s no wonder that the welder’s average age is 40 years.
9. Welding is one of the best paying industries globally. Welders in European nations, such as Norway and Switzerland, can make more than $118,000 annually.
In Switzerland and Norway, welders earn higher salaries than in other countries globally. Moreover, there are several other countries, such as the United States and Australia, where welders make more than the average salary.
The industry is not only lucrative but also varied. Besides, it’s one of the most diverse industries worldwide. Welders can choose to work with a wide range of metals and materials.
They can work in different sectors too. It includes automotive, manufacturing, oil and gas refining, and construction.
The salary of a welder depends on experience, skill level, and location. The welding industry doesn’t have a ceiling for earnings prospects.
Welding also pays well because of its technical nature. Most people who want to become welders must go through an apprenticeship program before getting into this profession.
10. In the US, the welding industry is more developed in Texas. The annual welder salary in Texas is $29,000 for a beginner and $69,000 for a seasoned welder.
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Welding is one of the most lucrative professions in the world. Besides, some welders can earn six figures! Of course, this depends on your location and experience level.
In Texas, the welding industry is more developed than in any other state. It means Texas has a high demand for welders and offers higher-than-average salaries.
An experienced welder in Texas can easily earn close to $100,000 per year. But even if you’re just getting started with welding, there are plenty of entry-level jobs available that pay well above minimum wage.
There’s no better place to start your welding career than Texas. This Lone Star State is the most robust manufacturing state in the country. Also, there’s a need for skilled welders. It outstrips the number of welders in Texas currently.
Frequently Asked Questions about Welding Industry and Market Size
Why is welding crucial to many industries?
Welding is a key component of many industries. Welding processes are used to assemble parts and products in manufacturing and construction.
Also, it is used to repair end-product components and structures that have reached the end of their helpful life. Welding is also used extensively in petrochemical operations. It includes drilling platforms, pipelines, refineries, and chemical plants.
In construction, welding is used to create buildings and infrastructure made of steel and other metals.
Besides, the construction of large modern buildings, such as skyscrapers or bridges, often needs welding. You have to put together the large pieces of metal used in their construction using welding.
What are the top three industries that employ the most people in welding?
General construction companies hire welders to build bridges, roads, residential, and commercial buildings. Usually, these are large companies with thousands of employees who do many different kinds of work on many projects.
The automotive industry has always been one of the biggest employers in the welding industry, too. Welders working in this field repair and modify vehicles, including cars, trucks, and buses. The skills required to work in the automotive industry include MIG welding and TIG welding.
The aerospace industry is another field that employs many workers in welding. It has been booming for years now as commercial airlines, and military contractors look to expand their fleets. This growth has created an increased need for skilled welders who can work with aluminum and other metals used to construct planes.
What is the most common type of welding?
You’ve probably already noticed that the most common form of welding is MIG welding. It’s also called Gas Metal Arc Welding (GMAW). It’s common because it is the easiest to learn.
You can turn out some excellent-looking welds in no time at all with a bit of practice. Also, you can use MIG welding on almost all steel and aluminum, but it takes a little know-how.
MIG welding is only one electrode and one return wire. The electrode and return wire are fed through a hose from the machine to the gun.
The MIG Welding process is used in a majority of industries. It includes transportation, construction, shipbuilding, and manufacturing industries.
How is the welding industry changing?
The welding industry is changing due to technological innovations. It includes developing new materials and equipment that are safer to use.
Many of these new tools and equipment are also safer than older models. It allows welders to spend more time on the job without worrying about accidents or injuries.
These advances also reduce costs and increase productivity. The advent of robotics has changed the workplace and created new welding methods.
Many industries now use robotics to improve productivity and reduce labor costs. So, welders must understand and adapt to new technologies to remain competitive.
What is the key driver in the welding materials market worldwide?
There’s an increasing need for lightweight and high-strength structures across different end-user industries. It’s the primary factor driving the welding materials market growth.
The rising demand for consumables and equipment from various industries is also expected to boost the market growth.
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The welding industry can be a lucrative field for anyone, provided the market conditions are right. Also, consider the risks of starting a welding business in this industry.
Of course, this necessitates a thorough understanding of the size and growth rate of the industry. You must also understand the state of development of the industry in all areas.
The welding industry is a massive market that continues to expand steadily. The growth can be attributed to increased industrialization and infrastructure expansion.
Also, it can be attributed to the government initiatives that seek to develop this trade further. Usually, welding services are needed in several other industries as well. Therefore, it makes sense when many focus on this business.
Featured Image Credit: Yossef Zilberman, Shutterstock