Painting Robots Market Expected to Reach $3,209.0 Million, Globally, By Top Key Players: Kawasaki Robotics, ABB, Durr Systems, Fanuc, Yaskawa, Kuka Robotics, CMA Robotics, Staubli, Epistolio S.r.l, and Krautzberger, have adopted new product launch and bus

The painting robots market is projected to witness significant growth in Asia-Pacific in the coming years, owing to increased demand in automotive industry. The automotive sector has strong manufacturing base and supply network in Asia-Pacific, which increase the requirement of these robots to facilitate efficient painting. In addition, these robots help overcome the need for highly skilled painters and also, help paint the desired area within the optimized time. The explosion proof arms used in the development of painting robots provide safety at workplace.

Painting Robots Market by Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2016-2023", the painting robots market accounted for $1,614.0 million in 2016, and is expected to reach $3,209.0 million by 2023, growing at a CAGR of 10.4% from 2017 to 2023. In 2016, Asia-Pacific dominated the global market, in terms of revenue, accounting for more than 50% share of the global market, followed by Europe.

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Painting robots are used for painting and are programed to apply paint material or coating on an object in an efficient way. The demand for painting robots has increased in the automotive industry as these robots apply paint in a consistent way without wasting materials in optimized time. In addition, it reduces the requirement of highly skilled painters and paints large parts with more accuracy. These factors increase the demand for painting robots in the market. However, high product and installation cost restricts the market growth.

The automotive segment secured the highest share of 51.4% in the painting robots market in 2016 and it is expected to grow at a CAGR of 9.3% during the forecast period. In terms of applications, interior painting segment is expected to contribute the highest market share in the coming years, as these robots have wide demand for interior painting in automotive, machinery, aerospace, construction, metal, and plastic industries. There is high demand for the floor-mounted robots as these robots are easily available in the fast-emerging economies, owing to the presence of several local and regional manufacturers. The construction industry accounted for around 16% share in the painting robots market.

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Asia-Pacific is anticipated to dominate the painting robots market during the forecast period, owing to the presence of key companies and strong manufacturing base of widely growing automotive sector. Moreover, Europe and North America are expected to witness moderate growth in the painting robots market during the forecast period.

The major players, such as Kawasaki Robotics, ABB, Durr Systems, Fanuc, Yaskawa, Kuka Robotics, CMA Robotics, Staubli, Epistolio S.r.l, and Krautzberger, have adopted new product launch and business expansion as their key strategies to expand their market foothold.

Key Findings of the Painting Robots Market:

• In 2016, the automotive segment dominated the global painting robots market, in terms of revenue, and is projected to grow at a CAGR of 9.3% during the forecast period.
• The interior painting segment is anticipated to grow at a CAGR of 9.7% during the forecast period.
• Asia-Pacific is estimated to exhibit the highest CAGR during the forecast period. Countries such as China, Japan, Republic of Korea, India, and Taiwan are expected to drive the painting robots market in the coming years.

Analyst Review:

Painting robots are widely used for painting or coating efficiently on interior or exterior parts or equipment. Therefore, these robots are majorly used in the automotive, aerospace, construction, and machinery industries. The robots are workplace safe as they are developed using explosion proof arm and these robots can paint the desired area within the optimized time with reduced requirement of workers. These factors result in an increase in demand for painting robots in the automotive industry. Furthermore, the painting robots apply paints and coating equally on every part, which reduces the expenditure on materials and wastage.

The market players focus on developing new products to achieve high efficiency and performance. For instance, Yaskawa Motoman introduced two new high-speed painting robots-MPX1150 and MPX2600 for the automotive industry. These newly introduced 6 axis robots create smooth, consistent finishes for painting and dispensing applications.

Painting robots are used for painting or spraying paints and coatings in different industries. Asia-Pacific secured the highest share in the painting robots market in the past years and is expected to dominate the market during the forecast period, owing to rapid urbanization, presence of emerging economies, and increase in manufacturing and construction activities in the automotive & commercial sectors.

Key players in the global painting robots market include Kawasaki Robotics, ABB, Durr Systems, Fanuc, Yaskawa, Kuka Robotics, CMA Robotics, Staubli, Epistolio S.r.l, and Krautzberger. Market players adopt product launch as their key developmental strategy to keep pace with the demands of end users. Acquisitions and expansions are the other strategies adopted by market players to expand their offerings and boost their production processes. These strategies also help companies to develop efficient products as well as expand their sales across different geographies.

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