NEW YORK, Aug. 16, 2019 /PRNewswire/ -- Persistence Market Research has released a new market study on the Welding Torch Market involves Global Industry Analysis 2014-2018 and Forecast 2019-2029. The global welding torch market in 2014 was valued at ~US$ 2.5 Bn and is projected to be valued at ~US$ 3.1 Bn by the end of 2019. The market for welding torch is anticipated to grow at a CAGR of ~6% between 2019 and 2029 and is projected to reach a global value of US$ 5.6 Bn by 2029 end. Additionally, the global welding torch market is estimated to create incremental $ opportunity of US$ 2.5 Bn over the forecast period.
According to the analysis done in the report, the global welding torch market is anticipated to observe a remarkable growth owing to the features such as the increasing demand from end-use industries such as general fabrication, automotive, and transportation sector.
The increase in the production in divisions such as general fabrication, automotive, transportation, energy sector, shipyards and offshore, and yellow goods, among other industries have led to a significant increase in the demand for welding torches. Robotic welding torches integrate to increase the efficiency and production of any manufacturing and general fabrication operations. This automated process allows the operator to maintain weld integrity using electronic weld process for better weld quality with low labor costs and increased output. This defines the expected development of the global welding torch market throughout the forecast period of 2019-2029.
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Robotic Welding Operations Gathering Pace
By product type, the global welding torch market is segmented into MIG/MAG welding, TIG welding, and plasma welding. MIG/MAG welding is attractive due to the high welding speed and provides opportunity for rational welding of materials, which are difficult to weld. However, TIG welding at the same time is a slow welding process but if done with the right procedure and technique, it produces the highest quality weld. It is mainly used for welding metals, critical weld joints, and small welds where ever possible. Plasma welding is used for welding thin sheet metals.
On the basis of welding operation, the welding torch market is segmented into manual welding and robotic welding. Manual welding process consists of welding which is controlled manually with the equipment at the welding conditions. In the robotic welding automated programmable tools are used to automate the welding process. The robotic welding segment is expected to hold more than half of the market size owing to its increased output with less scrap and great efficiency.
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By cooling type, the global welding torch market is segmented into water cooled and air-cooled. Repair industries and fabrication industries are more benefitted by water cooled systems, which can handle the heat of the application. By end use, the global welding torch market is segmented into automotive and transportation, shipyards and offshore, general fabrication, and energy and yellow goods. The general fabrication segment is anticipated to hold nearly one third of the market size owing to its various applications.
Welding Torch Market Competition Analysis
The global welding torch market is considered as fragmented owing to the presence of several local and regional players in the welding torch market across the globe. PMR has broken the market structure up to two levels for in-depth analysis that includes, tier 1 and tier 2. Emerging players are estimated for ~25% share in the global market. Moreover, business acquisitions, expansions, and collaboration strategies are being adopted by the key players in emerging markets.
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Some of the prominent industry players in the global welding torch market are EWM AG, Illinois Tool Works Inc., Lincoln Electric Company, ESAB, TBi Industries GmbH, Tokin Corporation, Fronius International GmbH, SKS Welding Systems, Parweld Ltd, DINSE Inc., SUMIG USA Corporation, Oximig Do Sul, Tregaskiss, Bernard, Uniarc Ltd, Panasonic Welding, Miller Electric Mfg., LLC, Abicor Binzel USA, Inc., and Tweco, among others.
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