Arc Welding Torch Market worth $3.5 billion by 2029 - Exclusive Report by MarketsandMarketstm

CHICAGO, April 10, 2024 /PRNewswire/ -- The report "Arc Welding Torch Market by Wear Parts (Gas Nozzles, Contact Tips, Electrodes), Cooling Type (Air-Cooled, Water-Cooled), End-Use Industries (Automotive, Construction, Power Generation), And Region - Global Forecast to 2029", size is projected to grow from USD 2.7 billion in 2024 and is projected to reach USD 3.5 billion by 2029, at a CAGR of 4.7%.

This expansion is primarily fueled by several key drivers. The promising growth in the steel industry and the escalating population and rapid urbanization rates create a robust demand for arc welding torches. Furthermore, emerging economies like China and India are witnessing a surge in demand from various end-use industries, further propelling market growth. Additionally, industrial development in regions such as the Middle East & Africa contributes significantly to market expansion.

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269 ? Tables
65 ? Figures
284 ? Pages

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"Electrodes segment is estimated to be the  largest wear part segment of arc welding torch."

Electrodes are essential components in arc welding, serving as the source of the welding arc and the material that is melted to create the weld. The market for arc welding torches is heavily reliant on the demand for electrodes, making electrodes the largest market segment for arc welding torches. The demand for electrodes is expected to grow in the future due to several factors. Firstly, the increasing adoption of arc welding in various industries such as automotive, construction, and manufacturing is driving the demand for electrodes. Secondly, the growing trend towards automation in welding processes is leading to higher demand for high-quality electrodes that can ensure consistent and reliable welds. Additionally, the increasing focus on infrastructure development and construction projects globally is expected to further boost the demand for electrodes in the coming years.

"Air-cooled  segment of the arc welding torch market is expected to register the highest CAGR during the forecast period."

By cooling type, the arc welding torch market is segmented into air-cooled and water-cooled torches. These torches play a pivotal role in various welding methods, with their efficiency and longevity heavily influenced by their cooling mechanisms. Air-cooled torches are preferred for their simplicity and cost-effectiveness, while water-cooled torches are valued for their lightweight and compact designs. Air-cooled torches stand out for their high portability and ease of use, making them particularly appealing to welders needing mobility across different job sites or positions. This attribute enhances their convenience and versatility in various welding scenarios. The growing popularity of air-cooled torches has spurred intense market competition, offering numerous options from numerous manufacturers and distributors.

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"Automotive segment is estimated to be the  2nd largest end-use industry segment of arc welding torch."

The automotive sector heavily relies on arc welding torches to assemble structural components and fabricate intricate parts with high accuracy and consistency. Arc welding torches are integral tools in the automotive industry, used for various fabrication and repair tasks. In automotive manufacturing, arc welding torches are employed in the assembly of vehicle bodies, frames, and chassis, as well as in the joining of components such as exhaust systems, suspension parts, and engine mounts. These torches facilitate the precise application of heat and metal filler to create strong, durable welds, ensuring the structural integrity and safety of automotive vehicles. As the automotive industry continues to grow globally, driven by factors like rising consumer demand, technological advancements, and evolving regulatory standards, the demand for arc welding torches is expected to increase correspondingly. Expansion in production capacity, the adoption of advanced materials, and the trend towards lightweighting in vehicle design further contribute to the heightened need for efficient welding solutions, positioning the automotive sector as a key driver of growth in the arc welding torch industry.

"North America accounts for the 2nd largest share in terms of the value of the arc welding torch market."

The Arc welding torch market in North America is witnessing substantial growth propelled by a multitude of factors, including technological advancements, burgeoning industrial sectors, and robust import-export dynamics. As a key region in the global welding equipment landscape, North America stands at the forefront of innovation and industrial development, making it a crucial market for arc welding torches. The automotive and construction industries stand out as the largest markets for arc welding torches in North America. This dominance can be attributed to the extensive use of welding in the manufacturing and assembly of vehicles, as well as in the construction of infrastructure and buildings.

Key players

The Arc welding torch market comprises key manufacturers such as are The Lincoln Electric Company (US), ESAB Corporation (US), Illinois Tool Works Inc. (US), Linde Plc (Ireland), Panasonic Corporation (Japan), Fronius International GmbH (Austria), ABICOR BINZEL (Germany), Kemppi Oy (Finland), Tokin Corporation (Japan), and Migatronic A/S (Denmark) among are the major players in the arc welding torch market.

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