Welding Torch and Wear Parts Market

Global Welding Torch and Wear Parts Market: Overview

• According to Transparency Market Research’s latest market report on the global welding torch and wear parts market for the period of 2019–2027 (wherein, 2019 to 2027 is the forecast period and 2018 is the base year), increase in vehicle production coupled with growth of the construction and manufacturing industries is anticipated to propel the welding torch and wear parts market, worldwide.
• The global welding torch and wear parts market is projected to expand at a CAGR of ~4% over the period of forecast. 

Growth in Number of Vehicles: A Key Driver of Welding Torch and Wear Parts Market 

• The welding torch and wear parts market has been experiencing exponential growth in the last couple of years, owing to rise in the 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 2017, passenger car production experienced a growth of 2.4% over 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 the International Organization of Motor Vehicle Manufacturers, total commercial vehicle production across the world stood at 25 million units, out of which, the U.S. accounted for the highest share of approximately 33%, followed by China with 17%, in 2018. Thus, the demand for welding torch and wear parts is anticipated to grow with the growing number of passenger and commercial vehicles, thereby leading to the growth of the welding torch and wear parts market during the forecast period. 

Growth in Construction & Manufacturing Industries to Drive Welding Torch and Wear Parts Market

• Construction & manufacturing industries have been experiencing unprecedented growth in the last couple of years. Rapid urbanization and industrialization in developing countries are factors leading to increased construction projects, which, in turn, is expected to fuel the growth 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 Key Restraining Factor of the Market

• One of the major issues hindering growth of the welding torch and wear parts market is 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. They should also ensure that the welding torches have no leaks, and make sure that the torch-to-plate angle is the correct size to avoid porosity. Lack of these required skills is anticipated to hamper the growth of the welding torch and wear parts market.
• Also, 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: Opportunity for Market Growth

• The welding torch and wear parts markets in North America and Europe are mature ones, due to high automation levels and stringent laws & regulations in these regions.
• Asia Pacific, Middle East & Africa, and South America are experiencing robust growth in the demand for welding torch and wear parts, owing to increasing demand for passenger and commercial vehicles. Increase in disposable income, and growth in industries such as construction and manufacturing, as well as in sports, is augmenting the growth of the welding torches and wear parts markets in these regions.
• Asia Pacific is the powerhouse for vehicles sales growth. An average of 5.2% year-on-year growth was witnessed in Asia Pacific in 2017. The welding torch and wear parts market is anticipated to expand during the forecast period with such an exponential growth in the demand for vehicles.

Increasing Automation Levels and Compact Size of Welding Torches: Key Trend

• Manufacturers are looking for continual upgrades of technology with increasing automation levels. They are focusing on flexible machines that are smaller in size, with higher efficiency and productivity.
• Small and compact torches are extensively demanded in the commercial sector, and have the same features and advantages as original torches; they fit in approximately half the space with a cost advantage. This is one of the key trends in the welding torch and wear parts market from the demand side. 

Growing Number of New Product Launches: Another Key Trend

• 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 cost and overall life-cycle cost. 

Welding Torch and Wear Parts Market: Competition Landscape

• Detailed profiles of the manufacturers in the welding torch & 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, etc. 

Welding Torch and Wear Parts Market: Key Developments

• In November 2018, ESAB Welding & Cutting Products (under Colfax Corporation) improved the 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 a fixed torch neck (MT) and exchangeable torch neck (CT).
• 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 sTechnology.