The global robotic welding market was valued at USD 3.59 billion in 2017 and is expected to grow at a CAGR of 8.91%, during the forecast period, to reach USD 5.96 billion by 2023.
Northrook, IL -- (SBWIRE) -- 11/26/2019 -- According to the new market research report "Robotic Welding Market by Type (Arc Spot), End-User (Automotive & Transportation, Electricals & Electronics, Aerospace & Defense, Metals & Machinery), Payload (<50 kg, 50–150 kg, and >150 kg), and Region - Global Forecast to 2023" The robotic welding market is expected to grow from an estimated USD 3.89 billion in 2018 to USD 5.96 billion by 2023, at a CAGR of 8.91%, from 2018 to 2023. This market growth worldwide is driven by the increasing implementation of Industry 4.0, which focus on full automation of manufacturing process through Internet of Things (IoT) and big data concept.
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The spot welding segment is expected to hold the largest share of the robotic welding market, by type, during the forecast period.
The spot welding segment is expected to be the largest market for robotic welding, by application, in 2018. Spot welding robots are high-payload robots, which are expensive and widely used in various end-user industries. Major end-user industries include automotive & transportation, which accounts for approximately half of the market share. Increasing vehicle demand in emerging economies such as China, India, and Brazil would contribute to the growth of the spot welding market. Increasing focus on adopting electric vehicles would also act as a driving factor for the market.
The >150 kg segment is expected to hold the largest share of the robotic welding market, by payload, during the forecast period.
Welding robots which have more than 150 kg of payload are expected to dominate the market due to their application in automotive & transportation and other industries. These robots are high in demand due to the increasing demand for vehicles.
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Asia Pacific is expected to be the fastest-growing robotic welding market.
In this report, robotic welding market has been analyzed with respect to 4 regions, namely, North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific is expected to be the largest and the fastest growing market, by region, during the forecast period. Increasing adoption of automation by developing economies would drive the growth of the robotic welding market in the region. Major countries driving the market in the Asia Pacific region are China, India, and Taiwan. Rest of the World is expected to be the second fastest growing market for robotic welding. To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the robotic welding market including Yaskawa (Japan), Kuka (Germany), Fanuc (Japan), ABB (Switzerland), and Panasonic (Japan).
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