Global Foundry Robots Market Highlights Over 2022 - 2031
The global foundry robots market is estimated to garner a sizeable revenue by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed largely to the rapidly growing industrialization in emerging economies, coupled with rising output of manufacturing sector in those nations. According to the Center for International Knowledge on Development, China, the country’s industry added value reached USD 4,742.99 billion in 2018, which is 56.7 times that of 1978. Along with this, increasing demand for foundry robots as they can reduce production cost while offering high efficiency is also expected to drive market growth in the upcoming years. Furthermore, escalating adoption of robots in industries ascribing to their ability to withstand harsh environments and handle heavy work pieces is projected to offer profitable opportunities to the market in the near future.
The market is segmented by application into automotive, metal foundry, semiconductor foundry, and others, out of which, the automotive segment is anticipated to hold the largest share in the global foundry robots market. This can be accounted to the increasing usage of foundry robots for performing tasks such as inspecting parts, moving materials, and spraying paint onto the cars. Apart from these, rising adoption of network-controlled robots in the automotive industry to perform repetitive tasks with precision tirelessly is also predicted to boost the market segment growth in the future. Additionally, on the basis of the type, the electric drive robots segment is assessed to acquire the largest share during the forecast period ascribing to the large range of speed, torque and power of these robots, and their ability to operate efficiently in hash environmental conditions. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Global Foundry Robots Market Regional Synopsis
Regionally, the global foundry robots market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the rising adoption of advanced technologies in Japan, China and Taiwan. In Japan alone, the software sector accounted for sales of more than USD 100 billion as of 2018, whereas the sales of ICT were estimated at more than USD 420 billion that same year.
In addition, rapidly growing industrialization, and increasing investments in automation are also expected to boost the market growth in the region in the coming years. Moreover, the market in North America is projected to grab the largest share during the forecast period owing to the high adoption of foundry robots in manufacturing units, and strong presence of major market players in the region.
The global foundry robots market is further classified on the basis of region as follows:
Our in-depth analysis of the global foundry robots market includes the following segments:
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are rapidly growing industrialization in emerging economies, and rising output of manufacturing sector in developing nations.
The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022-2031.
Asia Pacific will provide more business opportunities for market growth owing to the high installation cost of foundry robots.
The major players in the market are ABB, Ltd., Arburg GmbH + Co KG, Alfa Industrial Group, The Yaskawa Electric Corporation, Omron Adept Technology, Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, and by region.
The automotive segment is anticipated to hold largest market size and is estimated grow at a notable CAGR over the forecast period and display significant growth opportunities.
High installation cost of foundry robots is estimated to hamper the market growth.
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