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Fiberglass Cutting Robots Market Latest Advancements Growing At a CAGR of 8.1% By 2032

06-05-2024 11:49 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Fiberglass Cutting Robots Market

Fiberglass Cutting Robots Market

Growth Factors:

Fiberglass cutting robots are specialized machines designed to cut and shape fiberglass materials with precision. They are widely used in industries such as wind energy, boat and shipbuilding, and consumer goods manufacturing, contributing to the efficient production of fiberglass components, including wind turbine blades, sporting equipment, and household items.

A primary factor driving the market for fiberglass cutting robots is the rapid increase in global industrial output. Industrialization in developing countries like India, China, and various African nations is expected to propel the growth of the fiberglass cutting robots market.

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Top Impacting Demands:

The Fiberglass Cutting Robots Market size was valued at $19 million in 2022, and is estimated to reach $40.8 million by 2032, growing at a CAGR of 8.1% from 2023 to 2032.

fiberglass cutting robots industry is expected to be used in alternative application areas in growing markets. Automotive is a key area for penetration of fiberglass cutting equipment and is witnessing growth at an increasing rate. Another key application of fiberglass cutting robots is in the marine industry.

The types of robots considered in the report include 3-axis to 5-axis robots and 6-axis to 7-axis robots. The 6-axis to 7-axis robots segment accounted for 83.5% share in 2022, owing to increase in their usage currently in emerging industries such as wind energy, marine, and other.

However, 3-axis to 5-axis robots, such as SCARA and linear robots, are expected to grow at a significant pace in the future, due to their rise in demand in industrial sectors in Asia-Pacific. The 3-axis to 5-axis robots segment is estimated to grow at a CAGR of 8.4%.

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Driving Demands:
The fiberglass cutting robots market forecast is divided into construction, automotive and transportation, pipe and tank, wind energy, and other. The automotive and transportation segment dominated the market in 2022 with $ 8365.5 thousand; however, it is expected to witness high growth owing to increase in demand for automotive goods over the past years with a CAGR of 8%.

The construction segment is expected to witness the highest growth rate of 9.1%, owing to high demand for fiberglass insulating products in the construction sector. Moreover, increase in need and customized solutions to make the process faster, especially in unexplored regions such as Brazil, Argentina, and South Africa, is expected to drive the growth in the wind energy and other industry.

Rapid growth in automation demands coupled with the reduction of duties on goods also boosts the market growth. Similarly, North America and Europe collectively accounted for over 33% of the fiberglass cutting robots market share, as these regions have been continually focusing on R&D activities and have been using fiberglass cutting robots for the same.

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Top Players:
The major players profiled in the fiberglass cutting robots market ABB, Comau, Daihen Corporation Co., Ltd., Denso Corporation, Fanuc Corporation, Seiko Epson Corporation, Kawasaki Heavy Industries, Ltd., KUKA AG, Universal Robots A/S, and Yaskawa Electric Corporation.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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