According to the report, the size of the “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″ is expected to increase at a compound annual growth rate (CAGR) of 4.7% from USD 2.7 billion in 2024 to USD 3.5 billion by 2029. This growth is principally propelled by a number of important factors. There is a strong market for arc welding torches due to the steel industry’s anticipated development, population increase, and fast urbanization rates. Further driving market expansion is the spike in demand from a variety of end-use sectors that rising nations like China and India are experiencing. Additionally, a major factor in market expansion is the industrial development occurring in areas like the Middle East and Africa.
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Among the well-known pivotal figures are:
· The Lincoln Electric Company (United States)
· ESAB Corporation (United States)
· Springfield Tool Works Inc. (USA)
· Linde Plc, an Irish company.
· Panasonic Corporation, a Japanese company
· Fronius International GmbH, an Austrian company
· Germany’s ABICOR BINZEL
· Kemppi Oy, located in Finland
· Tokin Corporation, a Japanese company
Migatronic A/S (Denmark)
Factor: expansion in the steel sector
The demand for arc welding torches is mostly driven by the expansion of the steel sector. As the steel industry expands, there is a parallel increase in the need for welding processes to join, fabricate, and repair steel components. Known for its adaptability and efficiency in attaching metal components, arc welding becomes essential at different phases of the steel production process.
Infrastructure development is a crucial aspect driving this need. The need to develop roads, bridges, buildings, and other infrastructure projects is constant due to the world’s growing urbanization and industrialization. Steel is in higher demand as it is an essential building element. As a result, in order to fuse steel components securely and effectively and maintain the structural integrity of these projects, welders mostly rely on arc welding torches.
Moreover, the need for arc welding torches is fueled by the automobile sector, which is a major user of steel. Manufacturers are turning more and more to high-strength steel alloys as the automobile industry changes to fulfill consumer expectations for safer, lighter, and more fuel-efficient vehicles. Arc welding torches are essential for producing the correct weld strength and quality when using these sophisticated materials, which call for exact and reliable welding processes.
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The market sector for arc welding torches with the greatest end-use is the construction industry.
Globally, the construction sector is growing significantly due to population increase, infrastructural development, and urbanization. This surge is evident in both residential and commercial construction projects. Welding plays a pivotal role in the construction sector, serving as a fundamental joining process for structural components like beams, columns, and frames. Its versatility enables the fabrication of complex structures, ensuring durability and structural integrity. When compared to conventional joining techniques, welding offers more strength, accuracy, and cost-effectiveness in the construction industry. The demand for dependable and effective welding solutions grows along with the demand for building projects. This increased demand for welding services drives the market for arc welding torches, essential tools for executing welding tasks efficiently and precisely in construction applications. Consequently, the construction end-use industry segment emerges as the largest driver of growth for the arc welding torch market during the forecast period.
Over the projected period, Asia Pacific is anticipated to have the biggest market share.
There are a number of important reasons for the Asia Pacific region’s dominance in the arc welding torch market, but the main ones are the area’s rapidly urbanizing and expanding population. In order to meet the growing demand for housing, commercial space, and vital infrastructure like roads, bridges, and utilities, there is a concurrent increase in building activities and infrastructure development as populations grow and metropolitan areas continue to develop.
Inherently, the rise in building and infrastructure projects drives up demand for welding supplies and equipment, such as arc welding torches. Arc welding is a basic technique that is widely used to connect metal structures and components in building and infrastructure projects. Therefore, there is a clear correlation between the rise in infrastructure development and building and the need for arc welding torches.
throughout addition, the automobile sector is expanding significantly throughout the Asia Pacific area. Countries like China and India are experiencing a burgeoning automotive sector, driven by rising consumer demand, increasing disposable income, and government initiatives to promote domestic manufacturing. Arc welding contributes to the fabrication and assembly of car components, which is a critical function in the automotive production process. Thus, the region’s need for arc welding torches is further fueled by the expansion of the automobile sector.
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