The global industrial welding robot market is estimated to grow at a CAGR of ~12% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the technological advancement and new breakthroughs in robotics and automation technology, along with growing adoption of robots in industrial application. Use of robots reduces the risk of workplace accidents, which is estimated to primarily drive the market growth. According to the International Labor Organization (ILO), 2.3 million work-related accidents or diseases occur every year around the world. Welding is a high-risk work, which requires accuracy and precision. This is easier to achieve through automation. Such factors are estimated to boost the market growth. The up-surge in industrial IoT is further projected to promote the market growth.
The market is bifurcated by type into spot welding robots, and arc welding robots, out of which, the arc welding robots segment is anticipated to hold the notable share in the global industrial welding robot market over the forecast period on account of growing demand for low space and less maintenance robots. Moreover, the achievement of higher accuracy is another factor estimated to boost the segment growth. On the basis of end-user industry, the automotive segment is forecasted to hold a significant market share over the forecast period, owing to the growing production and repairing activities of vehicles, backed by high demand for vehicles. CLICK TO DOWNLOAD SAMPLE REPORT
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.
On the basis of geographical analysis, the global industrial welding robot market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the rising adoption of robotics and automatic technology, along with higher labor cost in the region. Moreover, growing construction activities, and automobile manufacturing in the region, are estimated to boost the regional market growth.
The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of the presence of many robotic manufacturing companies in China and Japan, along with rising industrial development in the region. On the other hand, the market in Europe is projected to grow owing to the rising trends for industry 5.0 and for the surge in advancements from industry 4.0 concepts.
The global industrial welding robot market is further classified on the basis of region as follows:
Our in-depth analysis of the global industrial welding robot market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The growing adoption of robots and automation technology is estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~12% over the forecast period, i.e., 2022 – 2030.
Availability of cheap labor in low-income countries is estimated to hamper the market growth.
The market in the North America is expected to provide maximum growth opportunity over the forecast period, owing to the growing manufacturing industry in the region.
The major players in the market are Kawasaki Heavy Industries, Ltd., Panasonic Corporation, DAIHEN Corporation, Nachi-Fujikoshi Corp., Comau S.p.A., Hyundai Robotics, ABB Ltd., 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, payload, end-user industry, and by region.
The spot-welding robot segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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