Press release
Meticulous Research® Forecasts Robotic Welding Market to Surpass $6.77 Billion by 2029
[Redding, California, March 15, 2024] - Meticulous Research®, a premier provider of strategic market insights, unveils its latest report titled "Transforming Industries: Global Robotic Welding Market Analysis & Forecast 2022-2029". This comprehensive analysis anticipates the global robotic welding market to achieve a remarkable valuation of $6.77 billion by 2029, driven by a compelling CAGR of 6.2% from 2022 to 2029. Additionally, the market is poised to witness robust growth in volume, with an anticipated CAGR of 11.2% during the same period, reaching 163.3 thousand units by 2029.Download Free Research PDF @ https://www.meticulousresearch.com/download-sample-report/cp_id=5303
Pioneering Automation: Revolutionizing Industries with Robotic Welding
Robotic welding emerges as a pivotal technology, revolutionizing industries worldwide with its transformative capabilities. Advancements in industry 4.0 principles and the automotive sector's burgeoning adoption of welding robots propel market growth, promising enhanced efficiency and precision in manufacturing processes. However, challenges such as the high initial investment pose notable hurdles to market expansion.
Navigating Through Turbulent Times: COVID-19's Impact
The COVID-19 pandemic precipitated unprecedented disruptions across industries, reverberating through global supply chains and manufacturing operations. The stringent lockdown measures and transportation restrictions engendered widespread economic downturns, significantly impacting technology and component supply chains. Despite these challenges, the market exhibited resilience, driven by the imperative need for automation solutions to mitigate operational disruptions.
Browse in depth @ https://www.meticulousresearch.com/product/robotic-welding-market-5303
Unveiling Market Dynamics
Based on component, 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, heavy engineering equipment manufacturing, and defense. These robots are highly flexible in their configurations, enabling users to adjust their speed, precision, stroke length, and size. In addition, this segment is slated to register the highest CAGR during the forecast period.
Based on welding process, 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.
Based on payload, 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 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.
Geographical Landscape:
Asia-Pacific emerges as the epicenter of market growth, driven by escalating labor costs and a conducive regulatory landscape fostering automation adoption. Notably, the region is poised to witness the highest CAGR during the forecast period, underscoring its pivotal role in shaping the market trajectory.
Top 10 Companies: https://meticulousblog.org/top-10-companies-in-robotic-welding-market/
Pioneering Innovations: Industry Leaders
Industry stalwarts including ABB Ltd, FANUC Corporation, and KUKA AG spearhead market innovation, driving technological advancements and fostering industry collaboration to propel market expansion and cater to evolving consumer demands.
Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- sales@meticulousresearch.com
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
We are the trusted research partners for leading businesses around the world, providing market intelligence focused towards building revenue transformation strategies. Our research is used by Fortune 500 organizations to attain success by scouting next generation revenue opportunities well ahead of their competition.
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