Global Robotic Welding Market Size, Growth Drivers, and Industry Outlook
Global Robotic Welding Market Size, Growth Drivers, and Industry Outlook
According to a new report published by Allied Market Research, titled, “Robotic Welding Market by Type, End User, and Payload: Global Opportunity Analysis and Industry Forecast, 2019–2026,” The global robotic welding market size was valued at $5.4 billion in 2018, and is projected to reach $10.7 billion by 2026, growing at a CAGR of 8.7% from 2019 to 2026. Rapid growth in automation demand coupled with reduction of duties on refurbished goods in Asia-Pacific, fuel the robotic welding market growth. The key factor accelerating the robotics welding market is growing industrialization around the globe. Electronics is a key area for penetration of robotics welding and is witnessing growth at an increasing rate.
The robotic welding market is expected to be driven by growth in adoption of welding robots in the automotive & metal industry, and increase in advancement in robotics technologies. Key market players in robotic welding market aim to explore new technologies and products to meet the increase in customer demands. Product launch and business expansion are expected to enable them to expand their product portfolios and penetrate into different regions. Emerging economies provide lucrative opportunities to market players for growth and expansion. For instance, in March 2017, Fanuc Corporation launched Arc Mate 100iD welding robot. It supports several intelligent functions such as built-in vision systems like the Fanuc-developed iRVision system. Sensors and parts such as additional seam tracking sensors, cameras, and gripping devices are also compatible with the new robot.
Asia-Pacific dominated the global market in 2018, in terms of revenue, accounting for around 58.2% share in the global robotic welding market, followed by Europe. Based on type, the spot welding is largest segment in 2018, owing to increase in its usage currently in the emerging automotive sectors.
Based on end user, the automotive & transportation segment accounted for the highest share in the overall global market in 2018. However, uncertain raw material prices are expected to restrain the growth of the market.
The major players such as Yaskawa Electric Corporation, Fanuc Corporation, and DAIHEN Corporation in the global robotic welding industry are focusing on developing new products to strengthen their presence in the market. Moreover, these companies expand their business to sustain the intense competition. For instance, in June 2019, Yaskawa Electric Corporation launched Universal Weldcom interface for arc welding. It enables easy control of any weld process or parameter, including voltage, amperage, and wire feed speed through a common user interface.
The key market players profiled in the robotic welding market report include ABB, Ltd., DAIHEN Corporation, Denso Corporation, Fanuc Corporation, Kawasaki Heavy Industries, Ltd., KUKA AG, Nachi-Fujikoshi Corp., Panasonic Corporation, Siasun Robot & Automation Co Ltd., and Yaskawa Electric Corporation.
Many players have adopted product development and expansion as its key developmental strategies to improve its product portfolio. For instance, in September 2017, KUKA AG announced its plan to invest more than $100 million for the expansion and modernization of its Augsburg headquarters. The new construction has a two-level production hall, a training center, an office tower, and a new parking garage.
Key Finding of The Robotic Welding Market:
- The report provides an extensive analysis of the current and emerging robotic welding market trends and dynamics.
- Depending on type, the spot-welding segment dominated the market, in terms of revenue in 2018 and the arc welding segment is projected to grow at a CAGR 9.2% during the forecast period.
- By end-user, the automotive and transportation segment led the robotic welding market in 2018.
- Asia-Pacific is projected to register the highest growth rate in the coming years.
- Key market players within the robotic welding market are profiled in this report, and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the robotic welding industry.
- The report provides an extensive analysis of the robotic welding market trends and emerging opportunities of market.
- In-depth robotic welding market analysis is conducted by constructing estimations for the key segments between 2018 and 2026.
- The global robotic welding market forecast analysis from 2018 to 2026 is included in the report.
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