焊接设备：智能焊接新纪元，自动化精准焊接引领制造业升级 头豹词条报告系列

Investment Rating - The report does not provide a specific investment rating for the welding equipment industry Core Insights - The welding equipment market is expected to maintain high growth over the next five years, driven by increased automation, the application of new welding materials, and infrastructure demands from overseas projects. Companies need to continuously innovate and invest in R&D to provide customized solutions and complete welding equipment to enhance competitiveness and market share [1][22]. Industry Overview - Welding, also known as fusion welding, is a process of joining metals or other thermoplastics through heating or pressure. The industry includes the manufacturing of metal cutting and welding equipment, which can be categorized into cutting and welding processes [3][4]. - The welding equipment industry is characterized by high technology intensity and continuous innovation, with new welding technologies such as laser and plasma improving efficiency and quality. Market demand is diversifying and trending towards complete solutions, requiring companies to offer customized, one-stop solutions [5][6]. Market Demand and Trends - The market demand for welding equipment is diverse, with different industries requiring tailored solutions. There is a growing preference for complete welding equipment that provides one-stop procurement services, reducing integration and debugging costs for customers [7]. - The welding equipment market in China reached 13.568 billion yuan in 2023, with a year-on-year growth of 26.31%. It is projected to reach 38.417 billion yuan by 2028, with a CAGR of 23.14% from 2024 to 2028 [22][23]. Competitive Landscape - The current market concentration in the Chinese welding equipment industry is low, with the top five companies (CR5) holding just over 20% of the market. The industry is undergoing a technological transformation, and no clear market leader has emerged yet [30]. - The first tier of companies includes leading laser welding firms like Lianying Laser and Dazhu Laser, which have high technological added value and rapid revenue growth. The second tier consists of traditional welding companies like Shanghai Huwang, which benefit from established customer bases in traditional manufacturing sectors [30]. Industry Chain Analysis - The upstream of the welding equipment industry focuses on the manufacturing of metal raw materials and key components, such as steel and electronic components. The downstream users are spread across various industrial sectors, including military, shipbuilding, automotive manufacturing, and aerospace [14][20]. - Steel production is a key factor determining the scale of welding equipment usage, with China being the largest steel producer globally. In 2022, China's crude steel production was 1.018 billion tons, with nearly 300 million tons of steel involved in welding processing, accounting for over 50% of global welding processing volume [17][23]. Policy Overview - Recent policies aim to support the construction of a manufacturing technology innovation system, optimize resource allocation, and enhance the core competitiveness of the manufacturing industry. These policies are expected to stimulate demand for welding equipment [24][25].