Press release
Robotic Welding Market 2022- Industry Analysis, By Key Vendors, Segmentation, Growth Factor And Forecast Till 2029
Robotic Welding Market
New study report" Robotic Welding Market 2022 Market Opportunities, Challenges, Strategies, and Forecasts 2029″ has been added to Fortune Business Insights.
Market Overview:
At the beginning of a recently published report on the Robotic Welding Market 2022-2029, extensive analysis of the industry has been done with an insightful explanation. The overview has explained the potential of the market and the role of key players that have been portrayed in the information that revealed the applications and manufacturing technology required for the growth of the Robotic Welding market.
The robotic welding market size is projected to grow from USD 5.80 billion in 2022 and reach USD 9.76 billion by 2029, exhibiting a CAGR of 7.7% during the forecast period. The market stood at USD 5.42 billion in 2020.
Various segments of the market have been divided into different divisions. They have been depicted maximum share and profit maximization of the market during the forecasting period of 2022 to 2029. This is mentioned in the report too. Depending on the information, it has been recognized with different data and figures offered by the analysis of the overall understanding of the market place and value. Various distinctive features involve the market's knowledge based on the factors like the demographic changes, market dimensions, historical details, and market overviews. The research is also included in the strategic movements that are undertaken by the top-notch markets. Moreover, these key players affect the market growth and the profit rate of the overall market. In this report, the internal dimensions and assessments of the Robotic Welding market are revealed. The study of the Robotic Welding market's description has been taking place during the 2022 period and the last year of the foreseen period that extends to 2029.
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List of Key Players Covered in the Robotic Welding Market Report:
FANUC Corporation
Kuka AG
Kemppi Oy
Yaskawa America
ABB
Panasonic Corporation
OTC DAIHEN Inc.
DENSO CORPORATION
Kawasaki Heavy Industries, Ltd.
The Lincoln Electric Company
Miller Electric Mfg. LLC
IGM ROBOTERSYSTEME AG
Abhisha Technocrats Pvt. Ltd.
Acieta LLC
COVID-19 Impact:
The shutdown of Manufacturing Plants and Raw Material Shortage to Impede Market Progress
This market is expected to be negatively affected during the COVID-19 because of the restrictions placed on production activities. The sudden spike in COVID-19 infections has led to the closure of industries and manufacturing firms. Further, restrictions placed on transport have led to the shortage of raw materials required for the production of advanced welding equipment. However, the adoption of reduced capacities, part-time shifts, and production machinery may enable manufacturers to recover costs. These factors are likely to fuel the growth of the industry during the pandemic.
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Drivers & Restraints:
Increased Adoption of Automated Welding Equipment to Boost Market Growth
Several industries are rapidly utilizing automated systems to meet deadlines and boost production capacity. The incorporation of automation reduces time consumption and improves accuracy. The incorporation of robotics improves precision and reduces hiccups caused by manual labor. It improves speed and enables manufacturers to meet their deadlines. Robotic welding equipment improves productivity and enhances the quality of products. The emergence of several industries and the adoption of automation are likely to fuel demand. Further, the incorporation of artificial intelligence and machine learning is expected to improve operational efficiency. These factors are likely to drive the robotic welding market growth.
However, high investment costs and safety concerns are likely to hinder market progress.
Market Segmentation:
By type, the market is segmented into laser, MIG/TIG, spot, arc, and others.
As per payload capacity, it is classified into high (80-300kg), medium (30-60kg), and low (6-22 kg).
Based on industry, it is categorized into electronics & electrical, shipbuilding and railway, oil & gas, mining, construction, aerospace & defense, automotive, wind turbines, steel plant, and others.
Regionally, it is clubbed into Europe, North America, Asia-Pacific, Middle East & Africa, and South America.
Regional Insights:
Progressing Manufacturing Industry to Boost Market Growth in Asia-Pacific
Asia-Pacific is likely to dominate the robotic welding market share because of the progressing manufacturing industry and increasing industrial automation. The market in Asia-Pacific was USD 1.90 billion in 2020 and is projected to grow significantly in the upcoming years. Further, the adoption of industrial 4.0 welding technologies is likely to fuel the industry's progress. The emergence of several manufacturing facilities is expected to bolster market progress. For example, OLA chose ABB as one of its partners in February 2021 for the opening of its Scooter's mega factory in India. In addition, the presence of several established companies in China is likely to fuel market growth.
In North America, the presence of several prominent players is likely to fuel the demand for the robotic types of welding. In addition, significant investments in robotic welding's adoption are likely to fuel the market development.
In Europe, rapid adoption of automated systems is likely to fuel automatic welding's adoption. These factors are likely to fuel market growth.
Key Industry Development:
September 2020: SEO JIN Industrial opted for KUKA AG for the delivery of approximately 185 robots from the KR QUANTEC series for the adoption in handling and welding tasks in Korea. The company shall use the robots for the manufacturing of car components for Hyundai and Kia.
Major Table of Content:
Introduction
Executive Summary
Market Dynamics
Key Insights
Robotic Welding Market Analysis, Insights and Forecast, 2022-2029
North America Robotic Welding Market Analysis, Insights and Forecast, 2022-2029
Europe Robotic Welding Market Analysis, Insights and Forecast, 2022-2029
Asia Pacific Robotic Welding Market Analysis, Insights and Forecast, 2022-2029
Middle East and Africa Robotic Welding Market Analysis, Insights and Forecast, 2022-2029
Latin America Robotic Welding Market Analysis, Insights and Forecast, 2022-2029
Market Share Analysis, By Key Players, 2022
Competition Matrix
Company Profile
Continue….
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𝐂𝐨𝐧𝐭𝐚𝐜𝐭:
Name: Ashwin Arora
Email: sales@fortunebusinessinsights.com
Phone: US +1 424 253 0390 / UK +44 2071 939123 / APAC: +91 744 740 1245
𝐀𝐛𝐨𝐮𝐭 𝐔𝐬
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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