Robotic Welding Market to Hit USD 8.31 Billion by 2027;

2022-05-27 22:46:53 By : Ms. sandra Zhang

November 23, 2020 12:09 ET | Source: Fortune Business Insights Fortune Business Insights

Pune, Nov. 23, 2020 (GLOBE NEWSWIRE) -- The global robotic welding market size is expected to gain momentum by reaching USD 8.31 billion by 2027 while exhibiting a CAGR of 7.6% between 2020 and 2027. This is attributable to the increasing adoption of automation in the manufacturing process that propels the demand for advanced robotic welding machines across the globe. This information is published by Fortune Business Insights, in its latest report, titled, “Robotic Welding Market Size, Share & COVID-19 Impact Analysis, By Type (Arc, Spot, MIG/TIG, Laser, Others (Plasma etc.)), By Payload Capacity (Low (6-22 kg), Medium (30-60 kg), High (80-300kg)) By Industry (Automotive, Aerospace & Defense, Construction, Mining, Railway & Shipbuilding, Electrical & Electronics, Others) and Regional Forecast, 2020-2027.” The report further observes that the market stood at USD 4.66 billion in 2019 and is likely to experience significant growth in the forthcoming years.

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COVID-19 Surges Adoption of Automation Services across Manufacturing Industries

The lockdown imposed by several government agencies has led to the shutdown of manufacturing units owing to a reduced workforce across the globe. This has led to unprecedented economic loss across several industrial applications such as automotive, electronic, construction, and others. However, to bring back the economy on track, the companies are focusing on adopting automation services that have several advantages over manual labor. This is expected to boost the demand for automated robotic solutions in the forthcoming years.

The growing focus on reducing manual intervention in challenging manufacturing operations is driving the demand for advanced robotic welding machines globally. The major companies are either developing or adopting advanced industrial robots to significantly increase productivity while reducing costs.

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What does the Report Include?

The global market for ophthalmic devices report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market that would affect its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by the companies to maintain market stronghold between 2020 and 2027. 

Increasing Adoption of Automation in Manufacturing to Promote Growth

The emergence of modern technology has positively affected the manufacturing sector across the globe. Several major industrial sectors are experiencing a paradigm shift by adopting advanced automated welding services. The adoption of automation has brought upon several advantages such as improved efficiency and accuracy, reduced uptake time, and a high level of productivity. This is expected to favor the demand for advanced robotic welding systems across the manufacturing processes. Additionally, the rising automotive sector is expected to contribute to the growth of the global robotic welding market during the forecast period.

China Arc Segment Held 38.5% Market Share in 2019

The arc welding segment, based on type, held a market share of about 38.5% across China in 2019. The segment is likely to gain momentum owing to the increasing adoption of robotic welding systems across the automotive, electronics, construction, and shipbuilding sectors in China during the forecast period.

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Asia-Pacific to Remain Dominant; Increasing Adoption of Industry 4.0 to Aid Growth

Among all the regions, Asia-Pacific is expected to remain dominant and hold the highest position in the global welding robots market during the forecast period. This dominance is attributable to the increasing adoption of Industry 4.0 robotic welding techniques by the manufacturers to speed up industrial operations and improve efficiency in the region. Asia-Pacific generated USD 1.64 billion in terms of revenue in 2019.

North America, on the other hand, is expected to hold the second position in the market in the forthcoming years. This is ascribable to factors such as presence of prominent players in countries such as the U.S. that are adopting automation services rather than manual welding processes in the region between 2020 and 2027.

Product Launches by Major Companies to Strengthen Their Market Positions

The global welding robotic market is consolidated by the presence of major companies that are focusing on introducing advanced robotic welding machines to cater to the growing demand for automation services in manufacturing operations. Other key players positioned in the market are striving to maintain their presence by adopting strategies such as collaboration, partnership, and facility expansion that will boost the growth of the market during the forecast period.

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