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3. The Lincoln Electric Company (US) and ESAB Corporation (US) are Leading Players in the Arc Welding Torch Market

The arc welding torch market size is projected to grow from USD  2.7 billion in 2024 and is projected to reach USD  3.5  Billion by 2029, at a CAGR of 4.7%. The global arc welding torch market has seen notable growth, primarily due to several key factors. Firstly, the expansion of the steel industry has been a significant driver, with arc welding torches being essential in steel fabrication processes. Additionally, increasing demand from end-use sectors like automotive and construction has boosted market growth, particularly in emerging economies such as China and India. These countries' rapid industrialization and infrastructure development have further fueled demand. Moreover, the rise in offshore wind power generation capacities has provided another avenue for market expansion, with arc welding torches being crucial in the fabrication of wind turbine components. Overall, these factors combined have contributed to the market's promising trajectory, with continued growth expected in the coming years.

The key market players are The Arc welding torch market comprises key manufacturers such as are The Lincoln Electric Company (US), ESAB Corporation (US), Illinois Tool Works Inc. (US), Linde Plc (Ireland), Panasonic Corporation (Japan), Fronius International GmbH (Austria), ABICOR BINZEL (Germany), Kemppi Oy (Finland), Tokin Corporation (Japan), and Migatronic A/S (Denmark) among others. These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch, and contract & agreement between 2019 and 2024, to enhance their market shares and expand their global presence.

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The Lincoln Electric Company specializes in producing arc welding equipment, consumable welding products, and associated cutting tools. Its operations are divided into three main segments: Americas Welding, International Welding, and The Harris Products Group.

The Americas Welding segment focuses on welding activities in North and South America, while the International Welding segment handles welding operations across Europe, Africa, Asia, and Australia. The Harris Products Group oversees global cutting, soldering, and brazing operations, as well as managing its retail business in the US.

With a global footprint, the company operates 71 manufacturing facilities and joint ventures in 20 countries across the Americas, Europe, Asia Pacific, the Middle East, and Africa. In fiscal year 2022, the company's capital expenditure totaled USD 71,883 million, representing 18.74% of its revenue, and marking a 15.0% increase year-over-year.

ESAB Corporation is a leading provider of fabrication technology and gas control solutions, catering to a diverse array of industries worldwide. Their comprehensive offerings encompass cutting-edge equipment, consumables, robotics, and digital solutions tailored to meet the unique needs of sectors ranging from general industry to renewable energy, medical, transportation, construction, and energy infrastructure. ESAB's welding consumables encompass a variety of electrodes, cored and solid wires, and fluxes utilizing specialty materials, while their cutting consumables include electrodes, nozzles, shields, and tips. From portable welding machines to large-scale customized automated cutting and welding systems, ESAB delivers solutions that optimize productivity and enable seamless remote monitoring and documentation of welding operations through innovative software and digital platforms.

Illinois Tool Works Inc. (ITW) is a worldwide manufacturer of industrial products that categorizes its operations into seven segments based on the products offered and their respective end markets. These segments include Automotive OEM, Food Equipment, Test & Measurement and Electronics, Specialty Products, Polymers & Fluids, Welding, and Construction Products. The Welding segment produces a wide variety of arc welding equipment, consumables, and accessories for industrial and commercial use. These products are designed to meet the needs of different industries, such as fabrication, shipbuilding, energy, construction, automotive OEMs, and industrial capital goods.

In FY 2022, the Welding segment contributed USD 1,894 million in revenue, which accounted for 11.9% of ITW's total revenue. The subsidiaries under this segment include Hobart Brothers LLC, Bernard, Miller Electric Mfg. LLC, Orbitalum, E.H. Wachs, and Tregaskiss.

Geographically, ITW operates in five regions: the US, Europe, the Middle East & Africa, Asia Pacific, and Canada/Mexico, with respective revenue contributions of 47.8%, 24.6%, 18.8%, 6.9%, and 2.0% in FY 2022.

• On March 2024, ESAB and EWI joined forces to advance arc-DED additive manufacturing and SAW processes. This partnership involves ESAB providing robotic and submerged arc welding systems to EWI in Columbus, Ohio. EWI is renowned for its expertise in arc welding processes, particularly arc-directed energy deposition (DED), an advanced additive manufacturing method that uses a robotic arm and different energy sources, such as arc, electron-beam, or laser-beam processes with powder or wire for intricate metal builds. The collaboration aims to improve welding technologies and propel applications across various industries, demonstrating a strong dedication to innovation and progress in welding and fabrication.
• On September 2023, Miller Electric Mfg. LLC launched the Millermatic 142 MIG welder, a lightweight machine in the 140-amp class. This portable MIG welder runs on a standard 120-volt household current and features Auto-Set technology, eliminating the need to manually set voltage and wire feed speed. The Millermatic 142 is suitable for welding applications in various industries like racing, farming, manufacturing, welding education, and training.
• On May 2023, Lincoln Electric acquired Powermig Automação e Soldagem Ltda, a Brazilian engineering company specializing in automation and welding technology. This acquisition is part of Lincoln Electric's strategy to expand its global footprint and enhance its capabilities in the welding and automation sectors. The acquisition will help Lincoln Electric serve its customers better in the Brazilian market and beyond.
• On March 2022, Lincoln Electric announced that it had acquired Kestra Universal Soldas Indústria e Comércio, Importação e Exportação Ltda. (“Kestra”). Kestra is a manufacturer of specialty welding consumables, wear plates, and maintenance and repair services for alloy and wear-resistant products commonly used in mining, steel, agricultural, and industrial mill applications.

Related Reports:

Arc Welding Torch Market by Wear Parts (Gas Nozzles, Contact Tips, Electrodes), Cooling Type (Air-Cooled, Water-Cooled), End-Use Industries (Automotive, Construction, Power Generation), And Region - Global Forecast to 2029

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