Market Overview:
The global TIG torches market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for TIG torches in various applications, such as mechanical equipment, industrial and others. Additionally, factors such as technological advancements and rising demand for TIG torches from emerging economies are also contributing to the growth of this market. On the basis of type, air-cooled TIG torches held a major share of the global market in 2017. This segment is projected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030 owing to its high performance and low maintenance requirements.
Product Definition:
The Tungsten Inert Gas (TIG) welding process uses a non-consumable tungsten electrode to produce the weld. The electrode is attached to the end of a torch and is used to start the arc. A shielding gas (usually argon) is then used to protect the weld from contaminants.
Air-Cooled:
Air-cooled TIG (TIG Air) is a process of welding with no cool down period. It saves energy and costs compared to water-cooled (WCT) or oil-cooled (OCT) welding processes. Air-Cooled TIG has higher deposition rates, faster travel speeds, and more consistent welds than Water Cooled TIG and Oil Cooled TIG.
Water-Coolled:
Water-coolled (WCO) is a type of arc welding process that uses water as a coolant and it allows for better control over the heat input than air-cooled (AWC) or gas-cooled (GWC) systems. The WCO system provides advantages such as narrow spatter, reduced filler material usage, and low smoke generation.
Application Insights:
The global demand for industrial applications was valued at USD 4.5 billion in 2017 and is expected to witness significant growth over the forecast period. The rising need for process improvement, automation, and technological advancement in manufacturing industries across the world is anticipated to propel the product demand over the coming years.
Mechanical equipment application segment accounted for a major market share of more than 30% in 2017 on account of extensive usage in various industries including oil & gas, construction, mining etcetera. The product has been witnessing growing adoption due to its ability to produce high-quality welds with low consumables thereby proving itself as an efficient alternative compared to other welding processes such as MIG or TIG welding processes.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing rapid growth in several industries, such as construction, automotive, marine & naval, aerospace & defense. This growth is attributed to increasing demand for industrial goods and components across various end-use industries.
The growing manufacturing sector across emerging economies of Asia Pacific including China and India coupled with expanding infrastructure activities are anticipated to drive the regional market over the forecast period. In addition, rising awareness regarding fire safety standards is projected to further propel product demand in this region during the forecast years from 2018 to 2030 (USD).
Europe accounted for a significant share of revenue generated by TIG torches globally due to high penetration of welding technology across numerous applications sectors including automotive manufacturing facilities along with other metalworking shops throughout Europe countries such as Germany Italy France UK Russia etc., which resulted into higher sales volume compared others regions worldwide (2017).
Growth Factors:
- Increasing demand for TIG torches from the automotive and aerospace industries due to the rising popularity of lightweight vehicles and aircrafts.
- Growing demand for TIG torches from the construction industry as they are used in welding various types of metals including aluminum, magnesium, and copper alloys.
- Rising demand for TIG torches in the manufacturing sector as they are used in fabricating products such as medical devices, kitchen appliances, and power tools.
- Increasing use of TIG torches in repair and maintenance activities owing to their ability to provide high-quality welds without any distortion or contamination.
Scope Of The Report
Report Attributes
Report Details
Report Title
TIG Torches Market Research Report
By Type
Air-Cooled, Water-Coolled
By Application
Mechanical Equipment, Industrial, Others
By Companies
Grainger, EWM Group, Esabna, Miller Electric, Abicor Binzel, CK Worldwide, Panasonic, Deca, Sumig, Everlast Power Equipment, Wanshida Welding, Autogen-Ritter GmbH, Stahlwerk, Techniweld USA
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
221
Number of Tables & Figures
155
Customization Available
Yes, the report can be customized as per your need.
Global TIG Torches Market Report Segments:
The global TIG Torches market is segmented on the basis of:
Types
Air-Cooled, Water-Coolled
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Mechanical Equipment, Industrial, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Grainger
- EWM Group
- Esabna
- Miller Electric
- Abicor Binzel
- CK Worldwide
- Panasonic
- Deca
- Sumig
- Everlast Power Equipment
- Wanshida Welding
- Autogen-Ritter GmbH
- Stahlwerk
- Techniweld USA
Highlights of The TIG Torches Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Air-Cooled
- Water-Coolled
- By Application:
- Mechanical Equipment
- Industrial
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the TIG Torches Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
TIG torches are a type of welding torch that uses a tungsten electrode to heat up the metal being welded. They are popular for welding heavy metals, such as steel, because they produce a high-quality weld without having to use an arc.
Some of the key players operating in the tig torches market are Grainger, EWM Group, Esabna, Miller Electric, Abicor Binzel, CK Worldwide, Panasonic, Deca, Sumig, Everlast Power Equipment, Wanshida Welding, Autogen-Ritter GmbH, Stahlwerk, Techniweld USA.
The tig torches market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 TIG Torches Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 TIG Torches Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 TIG Torches Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the TIG Torches Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global TIG Torches Market Size & Forecast, 2020-2028
4.5.1 TIG Torches Market Size and Y-o-Y Growth
4.5.2 TIG Torches Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Air-Cooled
5.2.2 Water-Coolled
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Mechanical Equipment
6.2.2 Industrial
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global TIG Torches Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 TIG Torches Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Air-Cooled
9.6.2 Water-Coolled
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Mechanical Equipment
9.10.2 Industrial
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Air-Cooled
10.6.2 Water-Coolled
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Mechanical Equipment
10.10.2 Industrial
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Air-Cooled
11.6.2 Water-Coolled
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Mechanical Equipment
11.10.2 Industrial
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Air-Cooled
12.6.2 Water-Coolled
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Mechanical Equipment
12.10.2 Industrial
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Air-Cooled
13.6.2 Water-Coolled
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Mechanical Equipment
13.10.2 Industrial
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 TIG Torches Market: Competitive Dashboard
14.2 Global TIG Torches Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Grainger
14.3.2 EWM Group
14.3.3 Esabna
14.3.4 Miller Electric
14.3.5 Abicor Binzel
14.3.6 CK Worldwide
14.3.7 Panasonic
14.3.8 Deca
14.3.9 Sumig
14.3.10 Everlast Power Equipment
14.3.11 Wanshida Welding
14.3.12 Autogen-Ritter GmbH
14.3.13 Stahlwerk
14.3.14 Techniweld USA
