The Future of the Robotic Welding Market Growth, And Research Report Breakdown
Posted by edwardzmusso on June 29th, 2022
The robotic welding market (with peripherals) 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. The intensifying adoption of Industry 4.0 principles and ongoing penetration of 5G in industrial manufacturing are among the factors driving the growth of the robotic welding market.
Robotic laser welding is an inherently precise and versatile welding approach. It enables the development of accurate, clean, and flexible products, which require less touch-ups or reworks. Similarly, plasma welding robots offer high welding accuracy and repeatability. They reduce operating cycle time, thereby preventing errors during welding. Owing to these features, the robotic laser and plasma welding segment is expected to grow at the highest CAGR during the forecast period.
The automotive and transportation segment is expected to capture the largest share of the robotic welding market during the forecast period based on end user. This segment is also projected to grow at the highest CAGR during the forecast period. The growth of the automotive and transportation segment can be attributed to the surging global demand for increasing automobile production volume in less time. Robotic welding helps increase the speed and accuracy of the vehicle-building process. Thus, the rising demand for high-quality and technologically advanced vehicles drives the growth of the robotic welding market worldwide.
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APAC is anticipated to holds the largest share of the robotic welding market throughout the forecast period. This dominance is attributed to technological developments in countries such as China, Japan, India, and South Korea. According to the Ministry of Industry and Information Technology (MIIT) of China, the country accounted for a share of ~30% of the global manufacturing output in 2020. China has maintained its position of being the largest manufacturing hub in the world. Thus, the key players operating in the robotic welding market are expanding their business in the country. Moreover, it houses key companies such as YASKAWA Electric Corporation, Kawasaki Heavy Industries, Ltd., Panasonic Corporation, NACHI-FUJIKOSHI CORP., Shanghai STEP Electric Corporation, and Siasun Robot Automation Co., Ltd. operating in the robotic welding market.
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Joined: February 8th, 2021
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