Published: October 2019 | Report Code: CM11747 | Available Format: PDF | Pages: 74
The U.S. engine-driven welder market stood at $133.1 million in 2018, which is projected to surpass $188.9 million by 2024, witnessing a CAGR of 6.0% during the forecast period (2019–2024). The market is primarily driven by high adoption of engine-driven welders in pipeline construction and maintenance operations, and maintenance of mining equipment, owing to the lack of electricity supply in remote locations where the pipeline and mining operations take place.
Dynamics of U.S. Engine-Driven Welder Market
In the U.S., the demand for advanced engine-driven welders has witnessed a rise in recent years. Owing to this, manufacturing companies are developing engine-driven welders that are compact, lightweight, and easy to operate, and have a less set-up time. Leading manufacturers, such as Miller Electric Mfg. LLC and Lincoln Electric Holdings Inc., lately launched a series of new products integrated with technologies, in order to offer advanced products and further diversify their product portfolios. For instance, in February 2019, Lincoln Electric Holdings Inc. launched a new gas-based engine-driven welder and generator, Ranger 330 MPX, which has 20% smaller footprint, and is 25% lighter and 31% smaller in volume in comparison to other machines of its kind. In addition, several other manufacturers are also aiming to develop advanced engine-driven welders to improve their shares in the U.S. engine-driven welder market.
The U.S. engine-driven welder market is driven by various factors, including increasing demand for dual operating machines (electricity supply and welding) in mining operations, and increasing adoption of energy-driven welders in pipeline operations. In the mining sector, welders are required to carry out repairs on mining machinery and remove cracks or damaged parts, and to supply electricity for auxiliary operations, such as powering electrical devices and equipment, in the absence of base electric power. Moreover, mining activities in the U.S. take place at a large scale for the extraction of minerals and geological materials. Thus, high adoption of engine-driven welders, coupled with the country’s huge mining industry, is expected to fuel the market growth during the forecast period.
With the rising construction activities in remote areas of the country, the demand for engine-driven welders is expected to increase, owing to their ability to serve both as a welder and a source of power. In addition, increasing investments in the construction sector are also expected to serve opportunities to the U.S. engine-driven welder market players.
U.S. Engine-Driven Welder Market Segment Analysis
Based on fuel type, diesel-based engine-driven welders are projected to witness the highest demand, of more than 6,000 units, in the U.S. engine-driven welder market by 2024. The category is expected to witness a promising CAGR of 5.4% during the forecast period, owing to the increase in sales of diesel-based engine-driven welders over gasoline-based for construction applications, pipeline operations, and maintenance of industrial machinery. Also, diesel has advantages over gasoline in terms of flammability, cost, and product availability.
On the basis of amperage, 300 A–399 A category held the largest volume share, of 29.6%, in the U.S. engine-driven welder market in 2018, and is expected to witness a CAGR of 5.3% during the forecast period. This is due to the wide-range applications of these welders in residential, commercial, and industrial construction; pipeline works; and industrial and agricultural machinery maintenance. Growth in end-use industries is also expected to boost the demand for 300 A–399 A engine-driven welders.
Based on application, the pipeline category accounted for the highest growth rate, of 5.6%, during historical period, and is expected to witness a CAGR of 6.3% during the forecast period, in the U.S. engine-driven welder market. This notable growth rate is attributed to the country’s existing pipeline network, increasing maintenance operations, and newly proposed pipeline projects.
Competitive Landscape of U.S. Engine-Driven Welder Market
The U.S. energy-driven welder market is highly consolidated in nature. Only three manufactures, Lincoln Electric Holdings Inc., Miller Electric Mfg. LLC, and Hobert Welding Products, accounted for more than 85% market share in 2018. The other major players operating in the market include Denyo Co. Ltd., Tomahawk Power LLC, Multiquip Inc., and ESAB AB.
Moreover, the U.S. engine-driven welder market has the presence of a large number of distributors, such as Airgas Inc., Middlesex Welding Sales, Cryo Weld, TS Distributors Inc., Norco Inc., WELDING SUPPLIES FROM IOC, One Source Equipment Rentals Inc., Barnes Welding Supply, Service Welding Supply, and A&B Welding Supply.
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