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.
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- 269 Market data Tables
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Some of the prominent key players 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)
· Migatronic A/S (Denmark)
Driver: growth in steel industry
The growth in the steel industry is a significant driver for the demand in the arc welding torch industry. As the steel industry expands, there is a parallel increase in the need for welding processes to join, fabricate, and repair steel components. Arc welding, known for its versatility and effectiveness in joining metal components, becomes indispensable in various stages of steel production.
One major factor contributing to this demand is infrastructure development. With burgeoning urbanization and industrialization globally, there’s a continuous requirement for constructing buildings, bridges, roads, and other infrastructure projects. Steel, being a vital material in construction, experiences increased demand. Consequently, welders rely heavily on arc welding torches to fuse steel components securely and efficiently, ensuring the structural integrity of these projects.
Moreover, the automotive industry, a significant consumer of steel, fuels the demand for arc welding torches. As the automotive sector evolves to meet demands for safer, lighter, and more fuel-efficient vehicles, manufacturers increasingly turn to high-strength steel alloys. These advanced materials require precise and robust welding techniques, where arc welding torches play a crucial role in achieving the desired weld quality and strength.