Welding Torch and Wear Parts Market
Welding Torch and Wear Parts Market (Product Type: MIG/MAG [Wear Part and Torch[, TIG [Wear Part and Torch], and Plasmas [Wear Part and Torch]; Wear Part: MIG/MAG [Torch Body, Gas Nozzle, Nozzle Stock, Contact Tip, Insulation Ring, Spatter Guard, Inner Liner, and Others], TIG [Torch Body, Insulation Ring, Gas Nozzle Ceramic, Clamping Sleeve, Torch Cap, Gas Lens, Tungsten Electrode, Clamping Sleeve Case, and Others], and Plasmas [Torch Body, Plasma Nozzle, Gas Nozzle Ceramic, Clamping Sleeve, Torch Cap, Tungsten Electrode, and Others]; Cooling Method: Water Cooled and Gas Cooled; Mode of Operation: Manual and Automatic; End-use Industry: Automotive, Construction, Demolition & Scrap, Heavy Equipment Manufacturing, Oil & Gas, Yellow Goods, and Others; and Distribution Channel: Online and Offline) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
- Category : Factory Automation
- Format :
Press Release :
Manufacturers Work at Breakneck Speeds amidst COVID-19 to Avoid Business Loss
The coronavirus (COVID-19) pandemic has virtually altered the global society and economy, and its repercussions are being felt in the welding industry as well. Companies in the welding torch and wear parts market are managing the short-term effects and preparing for potential adjustments in the long run.
A significant drop in COVID-19 cases is predicted to relax production, trade, and travel restrictions. In order to avoid losing out on business, OEMs in the welding torch and wear parts market are manufacturing products at breakneck speeds. They have been establishing work environments deemed safe for the return of their employees.
Request a sample to get extensive insights into the Welding Torch and Wear Parts Market
Demand Shortage and Difficulty in Staff Maintenance Inhibit Market Growth
The welding torch and wear parts market is estimated to surge at a sluggish CAGR of ~3% during the assessment period, as fragmented nature of the market has intensified the competition. The increased supply of welding torch and wear parts has led to a demand shortage. Challenges such as lack of skilled workers and difficulties in staff maintenance are also important factors for low demand. Thus, OEMs (Original Equipment Manufacturers) are offsetting these disadvantages by diversifying their supply for atomic hydrogen welding, TIG (Tungsten Inert Gas) welding, and other applications.
OEMs in the welding torch and wear parts market are increasing their production capabilities of accelerator pedals and introducing fingertip control on the torch to simplify TIG welding.
To understand how our report can bring difference to your business strategy, Ask for a brochure
Improved Ergonomics in Welding Torches Facilitate Everyday Safety and Comfort
The welding torch and wear parts market is expected to surpass the revenue of US$ 7.4 Bn by 2030. Manufacturers are innovating in guns and torches to facilitate efficient welding. For instance, Kemppi— a Finnish family owned welding company, is boosting its output capacities for Flexlite series of TIG and MIG (Metal Inert Gas) torches with improved ergonomics to enhance everyday welding comfort and efficiency.
Companies in the welding torch and wear parts market are increasing the availability of gas and water-cooled versions of TIG and MIG welding that facilitate alternative power classes, lengths, and values. They are introducing lightweight torches that are balanced and reduce wrist loading. Innovative materials such as silicon rubber are being used to adhere to welding safety standards.
Growing Availability of Purpose-built Plasma Equipment Drives Global Market
Apart from MIG and TIG equipment, OEMs in the welding torch and wear parts market are tapping into incremental opportunities with plasma welding torches. For instance, EWM AG— a specialist in welding technology, is increasing its product portfolio in plasma torch series to meet requirements of its end users. These torches are being preferred for delicate welding tasks on thin metal sheets. Plasma torches are even used for thick metal sheets to enable safe and stable welding.
Microplasma, medium current plasma, and keyhole plasma are different operating modes that are gaining importance in the welding torch and wear parts market. The increasing availability of purpose-built plasma equipment is acting as a key driver for the market.
Robust MAG Torches Deploy Premium Performance and Quality Welds in Automotive Industry
Unmatched ergonomics and lightweight attributes are being preferred in MAG (Metal Active Gas) welding torches. Durable and high quality MIG/MAG and TIG torches are the latest addition to voestalpine AG’s product portfolio that are easy to handle and deploy precision welding. In order to gain a competitive edge over other OEMs, manufacturers in the welding torch and wear parts market should increase their research expenditure and collaborate with think tanks and engineers to innovate in robust and durable welding torches.
Premium performance and high quality welds with the help of improved MAG welding torches are being made commonplace for use in demanding applications in ever-growing industries such as automotive, construction, and heavy equipment manufacturing.
Stuck in a neck-to-neck competition with other brands? Request a custom report on Welding Torch and Wear Parts Market
Analysts’ Viewpoint
Relaxations in plant closures are anticipated to draw an influx of new work, as OEMs in the welding torch and wear parts market scramble to maintain productivity at manufacturing facilities. Clean processes and flexibility in TIG welding are acting as a key driver for market expansion. However, disadvantages such as expensive processing and poor gas coverage are causing an impediment to the growth of the welding torch and wear parts market. Hence, manufacturers should increase their research spending and collaborate with engineers to introduce improved ergonomics in TIG welding torches. They should offset the disadvantages of TIG welding with the flexibility to choose precise amperage for welding tasks and increased control over the heat produced. This will help companies to gain a competitive edge in the welding torch and wear parts market.
Welding Torch and Wear Parts Market: Overview
- According to Transparency Market Research’s latest research report on the global welding torch and wear parts market for the historical period 2018–2019 and the forecast period 2020–2030, rising demand from the automotive industry is expected to boost the global welding torch and wear parts market during the forecast period
- In terms of revenue, the global welding torch and wear parts market is projected to exceed value of US$ 7.4 Bn by 2030, expanding at a CAGR of ~4% during the forecast period
Growth in Number of Vehicles: A Key Driver of Welding Torch and Wear Parts Market
- The welding torch and wear parts market is experiencing exponential growth in the last couple of years, owing to rise in demand for passenger and commercial vehicles. Increase in disposable income and growing road connectivity are prime factors responsible for the rising demand for four-wheeler and two-wheeler vehicles. In the international automotive industry, in 2019, passenger car production experienced growth of 2.4% from the previous year. This is anticipated to boost the welding torch and wear parts market to a significant extent.
- Additionally, as per the data published by International Organization of Motor Vehicle Manufacturers, total commercial vehicle production worldwide stood at 25 million units, of which, the U.S. accounted for a highest share of ~33% followed by China with 17% in 2019. Thus, the demand for welding torches and wear parts is anticipated to grow with the rising number of passenger and commercial vehicles worldwide, thereby leading to the expansion of the welding torch and wear parts market during the forecast period.
Expansion of Construction and Manufacturing Industries to Drive Welding Torch and Wear Parts Market
- Construction and manufacturing industries are experiencing unprecedented growth. Rapid urbanization and industrialization in developing countries are factors leading to the growth of construction projects, which, in turn, is expected to fuel the expansion of the welding torch and wear parts market.
- Welding torches used by skilled operators are usually designed according to pre-defined mandates and a set of compliance rules to ensure that the joints are strong and immune to jostling and rust. Ranging from metal active gas to submerged arc to manual metal arc, various welding processes are used at construction sites around the world to serve unique needs. All these factors are anticipated to boost the demand for welding torch and wear parts.
Unskilled Labor: A Restraining Factor of Market
- One of the major issues hindering growth of the welding torch and wear parts market is the abundant unskilled labor. Problems can occur in the event of lack of proper welding training. Welders should have proper knowledge of reducing the welding current and arc length to avoid spatter, along with increasing the torch-to-plate angle. Welders should also ensure that welding torches have no leaks and make sure the torch to plate angle is the correct size to avoid porosity. Thus, lack of skills is anticipated to hamper the growth of the welding torch and wear parts market.
- Moreover, the person performing the welding activity has to ensure that the welding torch and wear parts are in good condition. For this purpose, it is crucial that the technician has adequate knowledge of the process. The welder should be able to deal with changing welding positions. All these factors restrict the growth of the welding torch and wear parts market.
Rising Prospects in Untapped Markets: An Opportunity for Market
- The welding torch and wear parts market in North America and Europe is mature, due to high automation levels and stringent laws & regulations
- Asia Pacific, Middle East & Africa, and South America are experiencing robust growth in the demand for welding torches and wear parts, owing to increasing demand for passenger and commercial vehicles. Rise in disposable income and growth in construction and manufacturing as well as in sports are augmenting the welding torches and wear parts market.
Increase in Automation Levels and Compact Size of Welding Torches: A Key Trend in Market
- Manufacturers are looking for continual upgrade of technology with increasing automation levels. They are focusing on flexible machines, which are smaller in size with higher efficiency and productivity. Compact torches are extensively demanded in the commercial sector, and have the same features and advantages as the original torch; it fits in approximately half the space with cost advantage. This is one of the key trends in the welding torch and wear parts market from the demand side.
Growth in Number of New Product Launches: Another Key Trend in Welding Torch and Wear Parts Market
- Rising number of new product launches is another key trend in the welding torch and wear parts market from the demand side. The welding industry regularly introduces new product lines with a short product-development cycle. Each new product cycle brings increased performance requirements and enhancements in product quality. At the same time, there is pressure for new products to be more affordable, both in their initial production costs and in overall life-cycle costs.
Welding Torch and Wear Parts Market: Competition Landscape
- Detailed profiles of manufacturers in the welding torch and wear parts market have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global welding torch and wear parts market include
- Ador Welding Ltd
- Colfax Corporation
- ABICOR BINZEL
- Harris Products Group
- American Torch Tip
- Panasonic Industry
- Bernard, Dinse
- EWM AG
- Fronius International GmbH
- Migatronic A/S
- Oximig
- Parweld Ltd, Riconlas
- SKS Welding Systems
- Sumig
- TBi Industries GmbH
- Welding Engineers
- The Lincoln Electric Company
- Trafimet Group Spa
- Uniarc
- Tokin Corporation
Welding Torch and Wear Parts Market: Key Developments
- In November 2018, ESAB Welding & Cutting Products (under Colfax Corporation) improved consumables of its iSeries high precision plasma systems for plasma beveling applications
- In 2018, ABICOR BINZEL introduced the Plasma arc welding system ABIPLAS WELD CT/MT for ratings up to 300 A with fixed torch neck (MT) and exchangeable torch neck (CT)
Other Key Developments in Welding Torch and Wear Parts market
- In July 2019, Bernard and Tregaskiss showcased consumable and MIG Gun solutions at FABTECH 2019
- In November 2018, American Torch Tip declared that the United States Patent and Trademark Office (USPTO) had issued US Patent 10,129,970 for its CleanCut Nozzle Technology
Welding Torch and Wear Parts Market – Scope of the Report
A new study on the global welding torch and wear parts market has been published by Transparency Market Research (TMR). It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global welding torch and wear parts market. TMR’s study offers valuable information about the global welding torch and wear parts market to illustrate how the market would grow during the forecast period, 2020–2030.
Key indicators of market growth, which include value chain as well as supply chain analyses, and Compound Annual Growth Rate (CAGR), have been elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the global welding torch and wear parts market during the forecast period.
An extensive analysis on business strategies of leading market players has also been featured in TMR’s study on the global welding torch and wear parts market. This can help readers understand principal factors to foresee growth in the global welding torch and wear parts market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the global welding torch and wear parts market, which is expected to guide market players in making apt decisions in the future.
Key Questions Answered in TMR’s Welding Torch and Wear Parts Market Study
- What are the key factors influencing the welding torch and wear parts market in each region?
- What will be the CAGR of the global welding torch and wear parts market between 2019 and 2030?
- What is the future scope and changing trends in technologies in the global welding torch and wear parts market?
- What is the price variations of welding torch and its wear parts in different countries?
- Which factors will impede the growth of the global welding torch and wear parts market during the forecast period?
- Which are the leading companies in the global welding torch and wear parts market?
Research Methodology – Welding Torch and Wear Parts Market
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global welding torch and wear parts market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global welding torch and wear parts market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the welding torch and wear parts market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from welding torch and wear parts industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global welding torch and wear parts market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the global welding torch and wear parts market more reliable and accurate.
Welding Torch and Wear Parts Market – Segmentation
TMR’s study on the global welding torch and wear parts market includes information categorized into six sections - product type, wear parts, cooling method, mode of operation, end-use industry, distribution channel, and region. Changing industry trends and other crucial market dynamics associated with these sections of the welding torch and wear parts market have been discussed in detail.
|
Product Type |
MIG/MAG
TIG
Plasmas
|
|
Wear Part |
MIG/MAG
TIG
Plasmas
|
|
Cooling Method |
|
|
Mode of Operation |
|
|
End-use Industry |
|
|
Distribution Channel |
|
|
Region |
|
