Robotic Welding Market to Hit USD 8.31 Billion by 2027; Growing Automotive Sector to Stimulate Demand: 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.Click here to get the short-term and long-term impact of COVID-19 on this market.
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COVID-19 Surges Adoption of Automation Services across Manufacturing IndustriesThe 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. DRIVING FACTORSIncreasing Adoption of Automation in Manufacturing to Promote GrowthThe 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.SEGMENTATIONChina Arc Segment Held 38.5% Market Share in 2019The 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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REGIONAL INSIGHTSAsia-Pacific to Remain Dominant; Increasing Adoption of Industry 4.0 to Aid GrowthAmong 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.COMPETITIVE LANDSCAPEProduct Launches by Major Companies to Strengthen Their Market PositionsThe 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.Industry Development:July 2019 – Yaskawa Motoman announced the launch of three new products across the robotic welding systems space. The company introduced an advanced extended-reach industrial robot, an updated work cell for production environment, and a new application for arc welding.List of the Companies Profiled in the Global Market for Robotic Welding Market:Kemppi Oy (Finland)ABB (Switzerland)Panasonic Corporation (Japan)OTC DAIHEN Inc (U.S.)FANUC Corporation (Japan)Kuka AG (Germany)Yaskawa America (United States)Fanuc (Japan)DENSO CORPORATION (Japan)Kawasaki Heavy Industries, Ltd. (Japan)The Lincoln Electric Company (U.S.)Miller Electric Mfg. LLC (U.S.)IGM ROBOTERSYSTEME AG (Austria)Acieta LLC (U.S.)
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Major Table of Content:IntroductionDefinition, By SegmentResearch ApproachSourcesExecutive SummaryMarket DynamicsMacro and Micro Economic IndicatorsDrivers, Restraints, Opportunities and TrendsImpact of COVID-19Short-term ImpactLong-term ImpactCompetition LandscapeBusiness Strategies Adopted by Key PlayersConsolidated SWOT Analysis of Key PlayersPESTLE AnalysisPorter’s Five Force AnalysisGlobal Robotic Welding Market Share Analysis and Matrix, 2019Key Market Insights and Strategic RecommendationsProfiles of Key Players (Would be provided for 10 players only)OverviewKey ManagementHeadquarters etc.Offerings/Business SegmentsKey Details (Key details are subjected to data availability in public domain and/or on paid databases)Employee SizeKey FinancialsPast and Current RevenueGross MarginGeographical ShareBusiness Segment ShareRecent DevelopmentsPrimary Interview ResponsesAnnexure / AppendixGlobal Robotic Welding Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027By Type (Value)ArcSpotMIG/TIGLaserOthers (Plasma etc.)By Payload Capacity (Value)Low (6-22 kg)Medium (30-60 kg)High (80-300kg)By Industry (Value)AutomotiveAerospace & DefenceConstructionMiningOil & GasRailway & ShipbuildingElectrical & ElectronicsOthers (Steel Plant, Wind Turbines etc.)By Region (Value)North AmericaSouth AmericaEuropeMiddle East & AfricaAsia PacificTOC Continued..
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