The robotic welding market was valued at US$ 4,397. 73 million in 2021 and is projected to reach US$ 11,316. 45 million by 2028; it is estimated to register a CAGR of 14. 5% from 2021 to 2028.
New York, Feb. 24, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Robotic Welding Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type, Payload, and End User” – https://www.reportlinker.com/p06232597/?utm_source=GNW
Laser welding technology offers high welding speeds, reduces rework, provides high reliability, ensures increased weld quality, and offers high precision in producing medium- and large-batch sizes of output products at a low unit cost.When welding projects require accuracy for a high volume of parts, laser welding is the preferred metal joining method.
Small parts, such as jewelry or medical components, often use laser welding.This technology allows narrow welds that require minimal changes to the welded items.
It can also be used in high-volume applications that require increased accuracy in automotive & transportation, electrical and electronics, and aerospace & defense industries.
Plasma welding offers the most significant degree of flexibility because the operator can easily change the speed of gas passing through the nozzle and the temperature.Plasma welding technology can be used in automotive & transportation and electrical & electronics industries, wherein flexibility is essential as velocity and temperatures can be easily adjusted.
Thus, the emergence of laser and plasma welding processes is expected to create lucrative growth opportunities for welding robot manufacturers in the market during the forecast period.
COVID-19 Impact on Robotic Welding Market
Due to the COVID-19 pandemic, most manufacturing facilities and robotics system integrators were either operating with a partial workforce or were closed, and the supply chain of raw materials and components was disrupted.Further, owing to the weaker demand from end users, the deployment of robotic welding witnessed lower deployment numbers, which affected the robotic welding market growth in 2020.
However, according to the Association for Advancing Automation from Q1 of 2021, procurement of robotics was 86% higher by metal manufacturers, 72% by life sciences, pharmaceuticals, and biomed manufacturers, 32% by food and consumer goods manufacturers, and 12% by other nonautomotive manufacturers compared to Q1 of 2020 in North America. Thus, weaker demand from end users affected the deployment of industrial robotics, including welding robotics, in 2020; however, due to the nonautomotive manufacturers’ growing inclination toward automation, the demand for industrial robotics, including welding robotics, gained positive momentum.
The global robotic welding market has been segmented into five major regions – North America, Europe, APAC, Middle East & Africa, and South America.In 2020, APAC accounted for the largest share in the global robotic welding market.
APAC is a global hub for the manufacturing and export of technologically advanced consumer goods, including cellular phones, laptops & computers, radio sets & sound systems, televisions & television sets, and other critical electronic equipment and small and large household appliances.Several government bodies across the region are increasingly promoting the manufacturing industries through increasing foreign direct investments (FDIs), tax-rebates, subsides, and other fund allocations to attract new regional production set-ups.
Some of the major initiatives across the region are Made in China 2025 and Make in India by the respective government bodies. Rising investments across manufacturing sectors such as electronics and machinery are expected to propel the demand for robotic welding during the forecast period.
The key players operating in the global robotic welding market profiled in the market study include ABB; FANUC; IGM ROBOTERSYSTEME AG; Kawasaki Heavy Industries, Ltd; KUKA AG; NACHI-FUJIKOSHI CORP; OTC DAIHEN Inc.; Panasonic Corporation; Novarc Technologies; and Yaskawa America, Inc.
The overall global robotic welding market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the robotic welding size market.
The process also serves the purpose of obtaining an overview and forecast of the robotic welding market size with respect to all the segments.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic.
The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the robotic welding market.
Read the full report: https://www.reportlinker.com/p06232597/?utm_source=GNW
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