Specialty Welding Service Market Size, Share & Growth [2031]
Specialty Welding Service Market Size, Share & Growth [2031]
Segments - Specialty Welding Service Market by Type (Pipe Welding & Fabrication, Convection Tube or Radiant Tube, Welding Services, Boiler Repair Services, Conventional Groove Welding, Furnace Tube Welding, Narrow Groove Welding, Clad Welding, and Others), End-use (Oil & Gas, Aerospace, Chemical, Energy & Power, Industrial, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :EP-5471
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Report Description
The global specialty welding service market size was USD XX Mn in 2022 and is likely to reach USD XX Mn by 2031, expanding at a CAGR of XX% during 2023–2031. The market growth is attributed to the increasing application methods and innovations in specialty welding techniques.
The demand for the specialty welding service is driven by its extensive adoption in construction support & installation applications, across various key industries. It is widely used for the maintenance & fabrication of large structures such as pipelines. Specialty welding methods are used for specific purposes including maintenance & pipeline installation, in large-scale industrial projects such as nuclear and fuel power projects.
The major market players are offering the advantages of specialty welding services to various industries, to help make the construction and machine structure stronger and highly durable. The services are a key requirement in construction & repair operations, for chemical producers, manufacturing plants, and food processing companies. Thus, the wide application range and several benefits of specialty welding techniques, are responsible for the market demand expansion.
The market report finds that the COVID-19 pandemic impeded the growth of the specialty welding service market. The worldwide lockdowns and travel restrictions led to a shortage of workforce at the main welding sites & projects. In addition, several end-use industries had to slow down their operations, which resulted in the reduced demand for welding solutions during the pandemic.
Specialty Welding Service Market Dynamics
Major Drivers
Rising industrial operations and infrastructure development activities across the world are expected to drive the demand for specialty welding services. The players in the industry are offering specialty services such as construction and installation support to create robust structures.
Key industries where the need for specialty welding services is growing due to growing activities and demand are Oil & gas, construction, automobile, and steel. In these industries, specialty welding services and solutions have significant applications for the construction, installation, and maintenance of midstream and terminal facilities, petrochemical plants, refineries, and several other industrial environments.
Increasing demand for reliable and high-quality welding solutions is driving the market. Specialty welding helps in reducing errors and increases the life of the structure, which is expected to reduce manufacturing and maintenance costs. In addition, automation in welding is widening the applications of welding services in a range of manufacturing and construction requirements. Such expansion of use cases is likely to raise the profitability & productivity of the key players, which is beneficial for the growth of market share.
Existing Restraints
The shortage of skilled professionals is expected to restrain the market, as the procedure of specialty welding services requires highly skilled experts to handle the service equipment. The process of welding is a time-consuming procedure, depending on the complexities involved in large-scale projects, which can prolong the project. In addition, the lack of awareness about the availability of specialty welding services and their benefits, over conventional welding solutions, can affect the market in the coming years.
Emerging Opportunities
Rising adoption of computer-controlled and automatic machines for specialty welding operations is expected to create novel opportunities in the market. The integration of innovative robotics & automation is done with the aim of getting desired precise results from welding operations. Moreover, the growing applications of specialized welding methods, such as electron beam, laser beam, friction welding, diffusion welding, cold welding, and ultrasonic welding, are anticipated to help in opportunities for market expansion.
Specialty welding requires a highly skilled person to handle the job efficiently. However, in many cases, the welding worker does not possess the requisite skills to meet the requirement, which creates a skill gap in the market. The computer-controlled welding/robotic welding can help manage the in-person welding application needs of consumers and companies.
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According to the American Welding Society, the demand for skilled welders is growing significantly across various industrial operations. The organization has estimated that the US is likely to require 375,000 welders, to meet the growing demand for welding in various industries.
Scope of Specialty Welding Service Market Report
The report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Specialty Welding Service Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Type (Pipe Welding & Fabrication, Convection Tube or Radiant Tube, Welding Services, Boiler Repair Services, Conventional Groove Welding, Furnace Tube Welding, Narrow Groove Welding, Clad Welding, and Others) and End-use (Oil & Gas, Aerospace, Chemical, Energy & Power, Industrial, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Brown and Root; Koch Industries, Inc.; Williams Industrial Services Group Inc.; Specialty Welding and Turnarounds (SWAT); BHI Energy; Genesee Global Group, Inc.; Industrial Machine Service; CAWSUS; Universal Plant Services; and Riggins Company |
Specialty Welding Service Market Segment Insights
Type Segment Analysis
On the basis of type, the specialty welding service market is divided into pipe welding & fabrication, convection tube or radiant tube, boiler repair services, conventional groove welding, furnace tube welding, narrow groove welding, clad welding, and others.
The pipe welding & fabrication segment is expected to expand at a significant growth rate during the projection period, as welded pipes are easy to repair and provide a smooth internal surface. The adoption of specialty pipe welding and fabrication is comparatively advantageous as compared to a screwed pipe system, as screws have to be assembled and reassembled depending on installation and maintenance needs. This can be a time-consuming process and has the possibility of weaker support to the structure. Whereas, welded pipes are easily repaired by replacing another pipe in the place of damaged one.
The rigid & permanent joints offered by pipe welding & fabrication are beneficial for various industries such as construction and automobile. Fabrication allows to manufacture of customized products and is cost-effective, thus, it further boosts the segment.
The convection or radiant tube segment is anticipated to account for a key market share during the forecast period, as it reduces the possibility of pipe cracks. There are wide applications of convection tubes or radiant tubes in transmission pipelines, oil & gas, shipbuilding, mining, and structural construction. As these industries have large operations and are growing, the demand for the specialty welding solutions, such as convection tubes or radiant tubes, is expected to be significant in the coming years.
End-use Segment Analysis
Based on end-use, the global market is segregated into oil & gas, aerospace, chemical, energy & power, industrial construction, and others. The industrial construction segment is projected to register a considerable CAGR during the forecast period, as specialty welding services are majorly being used for industrial construction in several countries across the world.
Many large-scale industrial constructions & buildings, such as refineries, mills, stations, manufacturing plants, and dams, are taking advantage of specialty welding technology for making structures robust and reliable. Specialty welding solution offers durability and structural integrity, which is highly essential in construction. The growth of the segment is further attributed to the increasing use of specialty welding solutions for fabricating & maintaining structural frameworks, industrial equipment, pipelines, and large components that require support structures.
The oil & gas segment is projected to account for a significant market share, as companies in this sector are increasingly adopting specialty welding services to maintain existing facilities and construct new projects. The oil & gas industry is crucial for several businesses and industries, as it affects the transportation and supply chain. This is driving the need for establishing new oil & gas plants as well as improving the production of existing ones with the use of advanced tools and machinery.
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According to the recently published studies, the global demand for crude oil was around 99.56 million barrels per day in 2022, in 2023, it further increased to 101.88 million barrels per day. This implies that the global high demand for crude oil propels the oil & gas industry to be well-equipped and provide uncompromised quality of crude oil.
The implementation of specialty welding technology in the oil & gas industry improves the speed of oil production with high efficiency. Thus, these factors contribute to the growth of the market segment.
Regional Outlook
In terms of region, the global specialty welding service market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the forecast period, as the region has a high number of ongoing industrial construction activities.
In the US, the states including Texas, Alabama, Florida, and Louisiana are home to the largest industrial facilities in the country. This includes refineries, shipyards, power plants, steel mills, and food processing plants. This directly increases the demand for advanced specialty welding services in the region. The increasing investment activities in automotive & marine technology and the presence of major key players in the region are further anticipated to fuel the market.
The market in Asia Pacific is anticipated to expand rapidly during the forecast period, as there is a rising expansion of manufacturing industries and the adoption of improving automation technology. Emerging economies including China, India, and South Korea have a high demand for specialty welding services, to fulfill the need for infrastructure development. These factors collectively drive the regional market.
Segments
The specialty welding service market has been segmented on the basis of
Type
- Pipe Welding & Fabrication
- Convection Tube or Radiant Tube
- Welding Services
- Boiler Repair Services
- Conventional Groove Welding
- Furnace Tube Welding
- Narrow Groove Welding
- Clad Welding
- Others
End-use
- Oil & Gas
- Aerospace
- Chemical
- Energy & Power
- Industrial
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Brown and Root
- Koch Industries, Inc.
- Williams Industrial Services Group Inc.
- Specialty Welding and Turnarounds (SWAT)
- BHI Energy
- Genesee Global Group, Inc.
- Industrial Machine Service
- CAWSUS
- Universal Plant Services
- Riggins Company
Competitive Landscape
Key players operating in the global specialty welding service market include Brown and Root; Koch Industries, Inc.; Williams Industrial Services Group Inc.; Specialty Welding and Turnarounds (SWAT); BHI Energy; Genesee Global Group, Inc.; Industrial Machine Service; CAWSUS; Universal Plant Services; and Riggins Company.
These companies adopt strategies such as acquisitions, partnerships, collaboration, mergers, R&D investments, and product launches to boost their market share. For instance,
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On 20 December 2021, Specialty Welding and Turnarounds (SWAT) acquired Midwest Cooling Tower Services, LLC. With this acquisition, the company aims to offer high-quality cooling services and introduce SWAT’s technical abilities to the specialty welding services market.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Specialty Welding Service Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Specialty Welding Service Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Specialty Welding Service Market - Supply Chain
4.5. Global Specialty Welding Service Market Forecast
4.5.1. Specialty Welding Service Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Specialty Welding Service Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Specialty Welding Service Market Absolute $ Opportunity
5. Global Specialty Welding Service Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Specialty Welding Service Market Size and Volume Forecast by Types
5.3.1. Pipe Welding & Fabrication
5.3.2. Convection Tube or Radiant Tube
5.3.3. Welding Services
5.3.4. Boiler Repair Services
5.3.5. Conventional Groove Welding
5.3.6. Furnace Tube Welding
5.3.7. Narrow Groove Welding
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Specialty Welding Service Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Specialty Welding Service Market Size and Volume Forecast by End Users
6.3.1. Oil & Gas
6.3.2. Aerospace
6.3.3. Chemical
6.3.4. Energy & Power
6.3.5. Industrial
6.3.6. Others
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Specialty Welding Service Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Specialty Welding Service Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Specialty Welding Service Demand Share Forecast, 2019-2026
8. North America Specialty Welding Service Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Specialty Welding Service Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Specialty Welding Service Market Size and Volume Forecast by Types
8.4.1. Pipe Welding & Fabrication
8.4.2. Convection Tube or Radiant Tube
8.4.3. Welding Services
8.4.4. Boiler Repair Services
8.4.5. Conventional Groove Welding
8.4.6. Furnace Tube Welding
8.4.7. Narrow Groove Welding
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Specialty Welding Service Market Size and Volume Forecast by End Users
8.7.1. Oil & Gas
8.7.2. Aerospace
8.7.3. Chemical
8.7.4. Energy & Power
8.7.5. Industrial
8.7.6. Others
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Specialty Welding Service Demand Share Forecast, 2019-2026
9. Latin America Specialty Welding Service Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Specialty Welding Service Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Specialty Welding Service Market Size and Volume Forecast by Types
9.4.1. Pipe Welding & Fabrication
9.4.2. Convection Tube or Radiant Tube
9.4.3. Welding Services
9.4.4. Boiler Repair Services
9.4.5. Conventional Groove Welding
9.4.6. Furnace Tube Welding
9.4.7. Narrow Groove Welding
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Specialty Welding Service Market Size and Volume Forecast by End Users
9.7.1. Oil & Gas
9.7.2. Aerospace
9.7.3. Chemical
9.7.4. Energy & Power
9.7.5. Industrial
9.7.6. Others
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Specialty Welding Service Demand Share Forecast, 2019-2026
10. Europe Specialty Welding Service Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Specialty Welding Service Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Specialty Welding Service Market Size and Volume Forecast by Types
10.4.1. Pipe Welding & Fabrication
10.4.2. Convection Tube or Radiant Tube
10.4.3. Welding Services
10.4.4. Boiler Repair Services
10.4.5. Conventional Groove Welding
10.4.6. Furnace Tube Welding
10.4.7. Narrow Groove Welding
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Specialty Welding Service Market Size and Volume Forecast by End Users
10.7.1. Oil & Gas
10.7.2. Aerospace
10.7.3. Chemical
10.7.4. Energy & Power
10.7.5. Industrial
10.7.6. Others
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Specialty Welding Service Demand Share Forecast, 2019-2026
11. Asia Pacific Specialty Welding Service Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Specialty Welding Service Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Specialty Welding Service Market Size and Volume Forecast by Types
11.4.1. Pipe Welding & Fabrication
11.4.2. Convection Tube or Radiant Tube
11.4.3. Welding Services
11.4.4. Boiler Repair Services
11.4.5. Conventional Groove Welding
11.4.6. Furnace Tube Welding
11.4.7. Narrow Groove Welding
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Specialty Welding Service Market Size and Volume Forecast by End Users
11.7.1. Oil & Gas
11.7.2. Aerospace
11.7.3. Chemical
11.7.4. Energy & Power
11.7.5. Industrial
11.7.6. Others
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Specialty Welding Service Demand Share Forecast, 2019-2026
12. Middle East & Africa Specialty Welding Service Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Specialty Welding Service Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Specialty Welding Service Market Size and Volume Forecast by Types
12.4.1. Pipe Welding & Fabrication
12.4.2. Convection Tube or Radiant Tube
12.4.3. Welding Services
12.4.4. Boiler Repair Services
12.4.5. Conventional Groove Welding
12.4.6. Furnace Tube Welding
12.4.7. Narrow Groove Welding
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Specialty Welding Service Market Size and Volume Forecast by End Users
12.7.1. Oil & Gas
12.7.2. Aerospace
12.7.3. Chemical
12.7.4. Energy & Power
12.7.5. Industrial
12.7.6. Others
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Specialty Welding Service Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Specialty Welding Service Market: Market Share Analysis
13.2. Specialty Welding Service Distributors and Customers
13.3. Specialty Welding Service Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Brown and Root
13.4.2. Koch Industries, Inc.
13.4.3. Williams Industrial Services Group Inc.
13.4.4. Specialty Welding and Turnarounds (SWAT)
13.4.5. BHI Energy
13.4.6. Genesee Global Group, Inc.
13.4.7. Industrial Machine Service
13.4.8. CAWSUS
13.4.9. Universal Plant Services
13.4.10. Riggins Company
Methodology
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