With the increase in the development of various contemporary vehicles, the global welding torch market is bound to go great guns in the forecast period, as stated by Persistence Market Research.
How is the Welding Torch Market segregated?
The global welding torch market, by product, spans plasma torch, TIG welding torch, and MIG/MAG welding torch. By cooling, it’s air-cooled and water-cooled. By welding operation, it’s manual, MIG/MAG welding (torches and wear parts), TIG welding (torches and wear parts), robotics, MIG/MAG welding (torches and wear parts), TIG welding (wear parts and torches), and plasma (torches and wear parts).
By end-use industry, it’s a general fabrication, automotive and transportation, shipyards and offshore, energy, and yellow goods (earthmoving equipment, forklifts, and agriculture equipment). Persistence Market Research has mentioned these findings with futuristic simulations in its latest market study entitled “Welding Torch Market”.
North America holds the largest market share, followed by Europe. This could be attributed to continuous enhancement in infrastructure in these regions. The Asia-Pacific is expected to grow at the fastest pace in the welding torch market due to the increasing awareness regarding the importance of welding torch and the safety baton that it provides. Persistence Market Research has, through its analysts and consultants, sketched the findings with insights in its latest market study entitled “welding Torch Market”.
Persistence Market Research has profiled the key players in the welding torch market as Tokin Corporation, SKS Welding Systems, The Lincoln Electric Company, Illinois Tool Works Inc., ABICOR Binzel USA, Inc., EWM AG, Parweld Ltd., Panasonic Welding, Fronius International GmbH, Miller Electric Mfg. LLC, TBi Industries GmbH, Uniarc Ltd., DINSE Inc., Sumig USA Corporation, Tregakiss, Bernard, and Tweco (ESAB).
Persistence Market Research has also mentioned the latest developments on this count. For instance – Miller Electric Mfg. LLC, in February 2019, tabled a novel welding torch series called “MDX Series MIG Runs”. They are inclusive of MDX-250 EZ-Select, MDX-250, and MDX-100. Leister Group, in January 2019, came up with a new-fangled torch product called “MINI”. It facilitates a jet of hot air for being directed with millimeter precision, that too, at a temperature of up to 750 Degree Celsius.
The Lincoln Electric Company, in FY 2019, went on with the acquisition of Baker Industries, Inc. and its assets. EWM AG, 2017, did open a branch in Bergkirchen (near Munich) and Stettin (Poland).
The Path Ahead
The global welding torch market is likely to grow unabatedly in the forecast period – Persistence Market Research