As per Future Market Insights, the brazing torch market is anticipated to attain a value pool of US$ 350 million by 2023-end. Global demand for brazing torches is expected to rise at a CAGR of 5% to US$ 570 million in 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 350 million |
| Projected Market Value in 2033 | US$ 570 million |
| Growth Rate (2023 to 2033) | 5% CAGR |
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This market is primarily driven by rising demand from the construction, electrical and electronics and automotive industry. With the growing demand from the automotive industry, the demand for this product is likely to grow and garner more attention during the forecast period.
Rising demand from the fabrication and joint works involved construction industry particularly in multitude of end use sectors is anticipated to increase the market growth. Technology advancements for the improvement of cost effective product are additionally anticipated to emphatically affect development.
Owing to the increasing applications in different industry, including power, electronics and automotive industry, the market growth is expected to be on a rising curve. The market growth is anticipated to witness continual increase in the forecast period, owing to the increasing demand from the automotive manufacturers.
Employment of robotic technology over manually operated prototypes will be witnessed a key trend to adopt the paradigm shift by end users. End users will find the ergonomic brazing torch very affordable due to its higher productivity, improved quality and lower overhead, which is likely to increase the adoption rate in the forecast period.
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The rising sales of automotive is probably going to build the interest for brazing torch. In automotive, this technique is utilized for attaching of line fittings, tanks, carbide tips on apparatuses, radiators, heat exchangers, and so on. Subsequently, this will make a need to upgrade efficiency, quality and security among automotive manufacturer which, thus, will rise the interest for this product.
The market is expected to record a substantial growth rate during the forecast period. GCC is anticipated to be a prominent region in terms of both volume and value share in the global market.
The construction industry is expected to lead the end user base of brazing torch, followed by general fabrication industries owing to the existence of several small-sized manufacturers, particularly in the countries of KSA, UAE and Oman.
Cumulatively, developed markets, such as Europe and North America, are anticipated to hold half of the market value share in the global market during the forecast period.
East Asia is expected to witness high volume sales during the forecast period and also an incremental opportunity between 2021 and 2031. The remarkable performance of China, Japan, and South Korea within side the automobile sector will replicate at the income overall performance of the market, as automotive giants not only focus on manufacturing vehicles, but also focus on the differentiation of their products.
As these countries continue to push digitalization to harvest advantage of automation, the introduction of lightweight, hand-held, ergonomic and flexible brazing torches will have a high adoption rate to complement the production of futuristic vehicles
Some of the leading manufacturers include
Manufacturers can focus more on growth of the end-use industry, targeting their production, supply chain and distribution channel. Inspiration concerning the marketing may be drawn from the market leader - Illinois Tool Works Inc. Over the past few years, the company has created an enormous capital investment into the event of a web platform, thereby, adding a brand new sales dimension to the company.
Another example of a noble strategy to grow in the market is proven by The Lincoln Electric Company. The corporate has been specializing in the collaboration of advanced technology to its torches, which helps it observe a differentiated rating strategy, particularly in the new brazing torch markets
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Product Type 6.2. Cooling Method 6.3. Distribution Channel 6.4. Mode Of Operation 6.5. End Use Industry 7. Global Market Analysis and Forecast, By Product Type 7.1. MIG/MAG 7.2. TIG 7.3. Plasma 8. Global Market Analysis and Forecast, By Cooling Method 8.1. Water cooled 8.2. Gas Cooled 9. Global Market Analysis and Forecast, By Distribution Channel 9.1. Online 9.2. Offline 10. Global Market Analysis and Forecast, By Mode Of Operation 10.1. Manual 10.2. Automatic 11. Global Market Analysis and Forecast, By End Use Industry 11.1. Automotive 11.2. Construction 11.3. Demolition & Scrap 11.4. Heavy Equipment Manufacturing 11.5. Oil & Gas 12. Global Market Analysis and Forecast, By Region 12.1. North America 12.2. Latin America 12.3. Europe 12.4. East Asia 12.5. South Asia & Pacific 12.6. Middle East & Africa 13. North America Sales Analysis and Forecast, by Key Segments and Countries 14. Latin America Sales Analysis and Forecast, by Key Segments and Countries 15. Europe Sales Analysis and Forecast, by Key Segments and Countries 16. East Asia Sales Analysis and Forecast, by Key Segments and Countries 17. South Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries 18. Middle East & Africa Sales Analysis and Forecast, by Key Segments and Countries 19. Sales Forecast by Product Type, Cooling Method, Distribution Channel, Mode Of Operation, and End Use Industry for 30 Countries 20. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 21. Company Profile 21.1. Illinois Tool Works Inc. 21.2. ESAB 21.3. Panasonic Welding 21.4. SKS Welding Systems 21.5. EWM AG 21.6. Parweld Ltd 21.7. Tweco, Miller Electric Mfg. LLC 21.8. Fronius International GmbH 21.9. Abicor Binzel USA Inc. 21.10. Tokin Corporation 21.11. Tregaskiss, Bernard 21.12. Uniarc Ltd 21.13. Oximig Do Sul 21.14. SUMIG USA Corporation 21.15. DINSE Inc. 21.16. Lincoln Electric Company 21.17. TBi Industries GmbH 21.18. Tokin Corporation
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Brazing Torch Market
