Research Nester’s recent market research analysis on “Brazing Torch Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitor’s analysis and a detailed overview of the global brazing torch market in terms of market segmentation by Product type, end-user, and by region.
Expansion of Aerospace and Defence Industry & Sustainable and Environmental Concerns to Promote Global Market Share of Brazing Torch
The market for brazing torch is predicted to witness considerable opportunities by the growth of the aerospace and defense industries. The construction and maintenance of brazing engines must be of the highest caliber and dependability. The demand for brazing torches that can meet the demanding quality and safety standards of the sector will rise as the aerospace and defense industries develop.
Additionally, one of the most recent factors influencing the brazing torch industry is the increased emphasis on sustainability and environmental issues. Demand for brazing torches that are eco-friendly, generate fewer greenhouse emissions, and are constructed from sustainable materials is rising. To develop brazing torches that are more environmentally friendly and have a lower carbon footprint, manufacturers are spending money on research and development.
Some of the major growth factors and challenges that are associated with the growth of the global brazing torch market are:
- Technology improvements in brazing torches such as the integration of sensors and Internet of Things capabilities.
- The prospect of innovation in the brazing torch is offered by growing R&D activities to improve the brazing process and to develop new materials.
Challenges:
The initial cost of setting up a brazing torch, the scarcity of qualified workers in brazing activities, intense competition on the market, stringent government rules related to occupational safety and air quality control as well as increased costs for compliance with those requirements are also high are some of the major factors anticipated to hamper the global market size of brazing torch in the upcoming years.
Access our detailed report at: https://www.researchnester.com/reports/brazing-torch-market/5354
By end-user, the global market for brazing torch is fragmented into automotive, construction, demolition & scrap, heavy equipment manufacturing, and oil & gas. Amongst these, automotive segment is anticipated to hold the majority of the market share over the forecast period. On the other hand, the construction segment is also to experience significant market growth in the coming years, owing to an increase in construction globally backed by a rising population and robust technical advancements in the past few years. According to our analysis, the global construction industry's total value was approximately USD 11 trillion as of 2020.
By Region, the brazing torch market in Europe is set to attain substantial market value over the forecast period. This region is emerging as a manufacturing hub and witnessing increased demand for brazing torches in various applications. The region's manufacturing capacity in the fields of automotive, aerospace, and industrial machinery are contributing to the market’s growth. In the period from 2017 to 2021, according to our analysis, machine tool production represented a value of USD 23 billion.
This report also provides the existing competitive scenario of some of the key players of the global brazing torch market which includes company profiling of Illinois Tool Works Inc., ESAB SKS Welding Systems GmbH, EWM GmbH, Parweld LTD, Miller Electric Mfg. Co., Fronius International GmbH, ABICOR BINZEL USA, Inc., TBi Industries GmbH, DINSE Inc and others.
