Continued Growth is Expected
The welding industry has consistently enjoyed a healthy physique since War World I. In 2016, the industry was valued at $20.67 billion, and the global welding products market is slated to produce $32.63 billion by 2022. The global welding equipment, accessories, and consumables market is expected to fetch $24 billion by 2021.
The State of the Industry
Despite projected growth, the welding industry faces some uncertainties due to the ever-growing skilled labor shortage, as well as the recent Section 232 tariffs. The welding industry in North America today is said to be in both retreat and expansion.
Customers are also demanding higher levels of efficiency and productivity from their welding processes and solutions. This is driving ongoing development in more efficient and “smarter” equipment, software, and consumable solutions.
Problems facing the Industry
One of the biggest challenges facing the industry today is attracting new people to welding as a career. Although there is a lot of work to be done, there is a shortage of skilled welders who are able to do the work.
Recently imposed steel and aluminum tariffs are also affecting some businesses, and trade barriers could also impact a business’s ability to expand in global markets.
Factors Benefitting Welding
There will always be a demand for welding. There has been a refocus on infrastructure and construction that is driving demand for a lot of metal fabrication.
The increased demand for highly qualified and skilled workers is working to the benefit of welders as well. Increased demand means better career opportunities. As such, qualified employees can make much more money than college graduates.
Our Crew of Certified Technicians
Although the trend shows that there is a shortage of qualified workers in the field, Industrial Alloy Fabrication has a crew of technicians certified in many welding skills. To see how our team can meet your business’s fabrication needs, contact us here.