Robotic Welding Market Worth $6.77 Billion by 2029

Meticulous Research®-leading global market research company published a research report titled, 'Robotic Welding Market by Component (Robots, End of Arm Tooling, Controllers), Welding Process, Payload (Less than 25 kg Payload, 25 kg to 100 kg Payload, More than 100 kg Payload), End-use Industries, and Geography-Global Forecast to 2029.'

According to this latest publication from Meticulous Research®, the Robotic Welding Market is expected to reach $6.77 billion by 2029, at a CAGR of 6.2% from 2022 to 2029. By volume, this market is expected to reach 163.3 thousand units by 2029, at a CAGR of 11.2% from 2022 to 2029.

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The growth of the robotic welding market is driven by the increasing adoption of industry 4.0 principles and the rising adoption of welding robots in the automotive industry. However, the high initial cost of installing welding robots is expected to restrain the growth of this market.

Government initiatives to support digital transformation in Asia-Pacific and the emergence of laser & plasma welding technologies are expected to provide significant growth opportunities for stakeholders in this market. However, the lack of skilled workers for operating welding robots is expected to pose a major challenge to the growth of this market.

The robotic welding market is segmented based on component, welding process, payload, end-use industry, and geography. The study also evaluates industry competitors and analyzes the market at the country level.

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Based on component, the robotic welding market is segmented into robots, end of arm tooling (EOAT) devices, controllers, and software. The robots segment is further subsegmented into articulated robots, cartesian robots, cylindrical robots, SCARA robots, collaborative robots, delta robots, and other robots. Furthermore, the end of arm tooling (EOAT) devices segment is subsegmented into welding torches, vision systems, sensors, feeder systems, plasma flow controllers, and other EOAT devices.

In 2022, the robots segment is expected to account for the largest share of the robotic welding market. The large market share of this segment is attributed to the wide usage of robots across various industries, including automobile, oil & gas, manufacturing, and defense. These robots are highly flexible in their configurations, enabling users to adjust their speed, precision, stroke length, and size. Additionally, this segment is slated to register the highest CAGR during the forecast period.

Based on welding process, the robotic welding market is segmented into resistance spot welding, arc welding, laser welding, plasma welding, ultrasonic welding, and other welding processes. In 2022, the arc welding segment is expected to account for the largest share of the robotic welding market. Arc welding robots offer increased welding accuracy and reduced labor costs. These robots require low space and offer convenience and extensive applicability with minimal maintenance. Thus, such benefits contribute to their increased market demand in arc welding applications. However, the resistance spot welding segment is slated to register the highest CAGR during the forecast period.

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Based on payload, the robotic welding market is segmented into less than 25 kg payload, 25 kg to 100 kg payload, and more than 100 kg payload. In 2022, the less than 25 kg payload segment is expected to account for the largest share of the robotic welding market. Robots with less than 25 kg payload are extensively used for arc and spot welding in the automotive & transportation, metals & machinery, and construction industries. Thus, the increased demand from these industries contributes to the large market share of this segment. However, the 25 kg to 100 kg payload segment is slated to register the highest CAGR during the forecast period.

Based on end-use industry, the robotic welding market is segmented into automotive & transportation, oil & gas, electrical, construction, aerospace, mining, shipbuilding, heavy engineering equipment manufacturing, defense, and other end-use industries. In 2022, the automotive & transportation segment is estimated to account for the largest share of the robotic welding market. The large market share of this segment is attributed to the benefits offered by welding robots in the automotive industry's manufacturing process, such as cost-effectiveness, high efficiency, safety, and speed & precision, resulting in the increased adoption of these welding robots. Furthermore, using robots allows car & automotive component manufacturers to accelerate production, reduce costs, improve quality, and ensure workers' safety. Additionally, this segment is slated to register the highest CAGR during the forecast period.

Based on geography, the robotic welding market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific is estimated to account for the largest share of the robotic welding market. This regional market is also slated to register the highest CAGR during the forecast period. The high market growth in Asia-Pacific is attributed to the increasing labor costs, driving manufacturers to automate the manufacturing processes to maintain their cost advantage.

Furthermore, Asia-Pacific is poised to retain a strong market position in the welding robots market due to cheap manufacturing costs attributable to the availability of cheap labor, high safety standards, and government initiatives to accelerate foreign direct investments (FDIs).

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Key Players:

The key players operating in the robotic welding market are ABB Ltd (Europe), FANUC Corporation (Japan), KUKA AG (Germany), Yaskawa Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd. (Japan), DAIHEN Corporation (Japan), Stäubli International AG (Switzerland), EVS Tech Co., Ltd (China), Panasonic Corporation (Japan), Estun Automation Co., Ltd. (China), United ProArc Corporation (Taiwan), Nachi-Fujikoshi Corp. (Japan), igm Robotersysteme AG (Austria), and Universal Robots A/S (Denmark).

Key questions answered in the report:

Which are the high-growth market segments in terms of component, welding process, payload, end-use industry, and country?
What was the historical market for the global robotic welding market across the globe?
What are the market forecasts and estimates for the period 2022-2029?
What are the major drivers, restraints, opportunities, and trends in the global robotic welding market?
Who are the major players and their shares in the global robotic welding market?
How is the competitive landscape in the global robotic welding market?
What are the recent developments in the global robotic welding market?
What are the different strategies adopted by the major players in the global robotic welding market?
What are the key geographic trends and which are the high-growth countries?

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This release was published on openPR.