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Robotic Welding Market To Register Capital Expenditure Of $5.96 Billion By 2023
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The robotic welding market is expected to grow at a CAGR of 8.91%, from 2018 to 2023, to reach a market size of USD 5.96 billion by 2023. Increasing implementation of Industry 4.0 revolution and rising need for scalability in manufacturing units in developing economies to meet the growing demand for various products would contribute to the growth of the robotic welding market.
Browse 67 market data Tables and 31 Figures spread through 115 Pages and in-depth TOC on "Robotic Welding Market by Type (Arc Spot), End-User (Automotive & Transportation, Electricals & Electronics, Aerospace & Defense, Metals & Machinery), Payload (150 kg), and Region - Global Forecast to 2023"
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The robotic welding market is dominated by players with established brand names and wide regional presence and local and regional players in emerging economies. The leading global players in the robotic welding industry include Kuka (Germany), Fanuc (Japan), Yaskawa (Japan), ABB (Switzerland), and Kawasaki (Japan).
The 50–150 kg segment is estimated to be the fastest growing robotic welding market, by payload, from 2018 to 2023. This segment is driven by factors such as high demand for robots having this payload by various end-user industries. These robots can perform arc as well as spot welding.
Based on end-user, the robotic welding market has been segmented into automotive & transportation, electricals & electronics, aerospace & defense, metals & machinery, and others. The automotive segment is expected to grow at the fastest rate during the forecast period and become the largest market segment by 2023. This growth can be attributed to factors such as the increasing demand for vehicles in developing economies. The world’s focus toward electric vehicles would also boost the growth of this segment.
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The robotic welding market has been segmented, by region, into Asia Pacific, Europe, North America, and Rest of the World. Asia Pacific is projected to grow at the fastest rate, from 2018 to 2023, followed by Rest of the World. China, which is highly focused on automation, dominates the robotic welding market in Asia Pacific. It is also expected to be the fastest growing market for robotic welding. Europe, which is the second largest segment regionally, holds Germany and Spain as the largest contributors to the demand. But Europe would witness moderate growth rate for robotic welding during the forecast period owing to the maturity of the market.
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