The global welding guns and torches market was valued at USD 1.50 billion in 2022 and is expected to reach USD 2.08 billion by 2028, growing at a CAGR of 5.60%. Advancements in welding processes, thriving automation in the welding industry, and demand for repair and maintenance across industries support market growth. Collaborative research initiatives with the government and academia offer a pathway for the market to access innovative technologies and grow. Further, the North American welding guns and torches market, comprising the United States and Canada, holds a prominent position within the global welding industry. In the United States, welding is a vital component of the manufacturing sector, contributing significantly to the country's industrial landscape.
The welding guns and torches market pertains to the sector engaged in the production, distribution, and sale of welding guns and torches utilized in the process of joining metals. Welding guns encompass handheld, semi-automatic, or robotic devices employed in welding techniques such as MIG and MAG welding. In contrast, welding torches are typically associated with oxy-fuel welding and cutting procedures. Within this market, a diverse array of products is available, customized to suit specific welding methods, industrial applications, and sectors, in addition to providing associated consumables and essential spare parts required for welding activities. The welding guns and torches market is pivotal in facilitating metal joining and fabrication across various industries, including automotive, construction, aerospace, manufacturing, and shipbuilding.
MARKET TRENDS & OPPORTUNITIES
Advancement in Welding Processes
Advanced welding processes are a significant phenomenon driving the growth of the welding guns and torches market. Innovative techniques offer enhanced precision, efficiency, and quality in joining materials, meeting the evolving demands of industries across various sectors. As traditional welding methods evolve, these advanced processes showcase their potential to revolutionize the field, creating new opportunities for manufacturers of welding guns and torches to grow and expand, thus helping the market grow.
Automation in the Welding History
The trend of automation in the welding industry, particularly with the emergence of welding cobots (collaborative robots) and welding drones, holds substantial potential to drive the growth of the welding guns and torches market. Automation revolutionizes welding processes by enhancing efficiency, precision, and safety, directly translating into increased demand for advanced equipment. Automation in welding, enabled by welding cobots and drones, significantly increases efficiency and productivity. Welding cobots can work alongside human operators, assisting with tasks that require high precision and repetitive motions.
Competition From Substitutes
Competition from substitutes poses a significant challenge for the welding guns and torches market. While welding is a widely used joining method, it faces competition from alternatives like adhesive bonding, fastening techniques, and advanced materials such as composites. These substitutes offer unique advantages in certain applications, potentially impacting the demand for welding guns and torches, especially in specific industries.
INSIGHTS BY TYPE
The global welding guns and torches market is highly diverse and segmented, with various types of equipment tailored to different welding processes. These segments play a crucial role in meeting the specific needs of industries and applications, ranging from heavy manufacturing to precision electronics. MIG is the dominating type, with shares over 34%. MIG welding's reputation for versatility, speed, and ease of use positions it as a favored choice for seasoned welders and those new to the field.
INSIGHTS BY COOLING METHOD
The global welding guns and torches market is a diverse landscape where the choice of cooling method is pivotal in optimizing welding performance and ensuring equipment longevity. Two prominent cooling methods in this market are gas and water-cooled systems, each with distinct advantages and applications. The cooling by gas category holds a significant share and is expected to grow during the forecast period due to the convenience it allows. The applications of gas-cooled torches span a spectrum of welding processes, ranging from light fabrication tasks to critical maintenance and repair operations.
INSIGHTS BY FUNCTIONALITY
The global welding guns and torches market by functionality is segregated into three heads: manual, semi-automatic, and robotic. Manual welding guns and torches hold a dominating share of the industry. Manual welding guns and torches are vital components within the welding industry, offering welders the power of hands-on control and precision across diverse applications. Several regions are poised to emerge as substantial catalysts for demand in manual welding guns and torches, their trajectory influenced by their industrial framework and the unique requisites of their key sectors.
INSIGHTS BY END USERS
The welding guns and torches are used in almost all the major industries, such as heavy fabrication and construction being the most common. Heavy fabrication holds the highest share of the global welding guns and torches market, owing to the constant usage of welding in the industry. The construction of large buildings, bridges, and other infrastructure projects requires heavy fabrication. Welding guns and torches are essential tools for creating strong and durable joints in structural components. For instance, skyscrapers and bridges require precision welding to ensure the safety and integrity of the final structures. Moreover, heavy fabrication is crucial in the energy sector for constructing power plants, including nuclear, fossil fuel, and renewable energy facilities. It is followed by automotive, transportation, construction, energy, defense, and aerospace. The defense and aerospace industry is expected to grow with the highest CAGR of over 6% due to passenger traffic returning to pre-pandemic levels and geopolitics elevated risks.
INSIGHTS BY DISTRIBUTION CHANNEL
The choice between direct and indirect channels depends on various factors, including the manufacturer's marketing strategy, the distribution scale, and the end-users' specific needs. Both channels make welding equipment available to industries and businesses worldwide. However, the direct channel holds a dominating share in the welding guns and torches market. The absence of intermediaries streamlines the distribution process, reduces costs, and enhances logistical efficiency. In contrast, the indirect channel has the remaining share, which is expected to grow at a higher CAGR.
The Asia Pacific region dominated the global welding guns and torches market share in 2022, responsible for over 37% of the total revenue. This substantial share can be attributed to the robust demand for welding guns and torches from India, China, and Japan, where the manufacturing sectors are growing substantially. Anticipated growth in the APAC industry remains promising, with Australia and Thailand predicted to show significant progress owing to the rise in robotics and automation. The construction of new factories, commercial structures, and extensive infrastructure projects in the region has led to a substantial increase in demand for welding equipment.
Middle East & Africa will likely grow with the fastest CAGR during the projected period in the global welding guns and torches market. The industry displays promising growth potential driven by various factors. Some of these factors include substantial infrastructure development, economic diversification efforts, and investments in renewable energy projects. Governments in these regions are actively working to attract foreign investments and promote domestic industries, creating a favorable environment for welding equipment manufacturers.
The global welding guns and market boasts a highly competitive landscape with several key players competing for share and consumer preference. The market has a global presence, with multinational companies and regional players actively participating. Major players in the global welding guns and torches market are ESAB, Fronius International, Illinois Tool Works, Lincoln Electric, and Panasonic Connect, which act as dominant forces in the industry. These industry giants leveraged their extensive distribution networks, established brand recognition, and marketing prowess to maintain their positions and compete aggressively. Additionally, several regional players effectively compete in specific markets, addressing niche industries or regional demands by offering tailored welding solutions. Continuous innovation is a driving force in this industry. Companies that invest in research and development to create more efficient, precise, and sustainable welding accessories, such as guns and torches, gain a competitive edge.