CHICAGO, May 21, 2021 /PRNewswire/ -- According to the new market research report "Robotic Welding Market with COVID-19 Impact Analysis by Type (Spot Welding Robots, Arc Welding Robots), Payload (>150 kilograms, 50-150 kilograms), End user (Automotive and Transportation, Electrical and Electronics), Geography - Global Forecast to 2026", published by MarketsandMarkets™, the market size is projected to reach USD 11.7 billion by 2026 from an estimated USD 7.1 billion in 2021, at a CAGR of 10.5% from 2021 to 2026. Ongoing penetration of 5G in industrial manufacturing and principles and the increasing adoption of welding robots in the automotive and transportation industries are among the factors driving the growth of the robotic welding market.
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By type, the other segment is projected to witness growth at the highest CAGR during the forecast period
Robotic laser welding is an inherently precise and versatile welding approach. It offers accurate, clean, and flexible output products, which require less touchups or reworks. Similarly, plasma welding robots offer accuracy and high repeatability, as well as reduce operating cycle time. They prevent errors during welding. Owing to their features, the others segment is projected to witness growth at the highest CAGR during the forecast period.
By industry, automotive and transportation segment accounted for the largest share of robotic welding market in 2020, and a similar trend is likely to continue in the near future
Robotic welding is capable of fulfilling different requirements of the automotive and transportation industry. Thus, automotive manufacturers are investing significantly in the deployment of smart manufacturing technologies in their plants. For instance, in April 2020, Germany-based automotive company, BMW AG signed a framework agreement with KUKA AG to supply 5,000 robots for new production lines and factories. These robots are expected to be used across the world at the international production sites of the BMW Group for manufacturing current and future generation models of BMW vehicles. In addition, the rising demand for vehicles, especially from emerging economies, has encouraged automotive manufacturers and OEM to opt for automation of their processes to increase their production volume. This has contributed to the demand for welding robots in the automotive and transportation industry.
Browse in-depth TOC on "Robotic Welding Market"
183 – Tables
62 – Figures
229 – Pages
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By region, APAC to hold the largest share of the robotic welding market throughout the forecast period
APAC is projected to account for the largest share of the overall robotic welding market in 2026. The market in this region is projected to grow at the highest CAGR from 2021 to 2026. The key factor contributing to the growth of the robotic welding market in APAC is the emergence of countries such as China, Japan, India, and South Korea as manufacturing hubs for electronic equipment, devices, and components. These countries also have flourishing automotive and other industries. These industries require robots for increasing their production volume and reducing their overall production time.
FANUC Corporation (Japan), YASKAWA Electric Corporation (Japan), KUKA AG (Germany), ABB (Switzerland), Kawasaki Heavy Industries, Ltd. (Japan), Panasonic Corporation (Japan), DAIHEN Corporation (Japan), NACHI-FUJIKOSHI CORP. (Japan), Comau S.p.A. (Italy), and Hyundai Robotics (South Korea) are some of the key players in the robotic welding market.
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