The new report by Expert Market Research titled, ‘Global Robotic Welding Market Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the Global Robotic Welding Market, assessing the market based on its segments like type, payload, end user and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2021): USD 7.12 billion
- Forecast CAGR (2023-2028): 10.45%
- Forecast Market Size (2027): USD 12.92 billion
The growing adoption of Industry 4.0, which entirely automates the manufacturing process without human interference, is driving the global market for robotic welding. The industrial internet of things (IIoT) is accelerating adoption of robotic welding in industries such as machinery, automotive, and electronics, among others. Robotic welding produces precise and speedy outcomes with minimal errors, resulting in increased productivity.
Furthermore, for safety against flashes, fumes, sparks, and heat produced by welding, which are detrimental to human health, robotic welding has become a more favoured choice over manual welding, resulting in market growth. High installation and maintenance costs, complex hardware and software technology, and a lack of knowledge, on the other hand, are hindering the market’s growth. Nonetheless, established industry companies are adopting robot welding due to its accuracy, which is positively affecting market growth.
Industry Definition and Major Segments
Robotic welding is a more advanced form of automated welding in which robots with the help of powerful digital software technologies perform the welding procedure.
Based on type, the market can be broadly divided into:
- Spot Welding Robots
- Arc Welding Robots
The robotic welding market can be broadly divided based on its payload into:
- Less than 50 Kg
- 50-150 Kg
- More than 150 kg
Market segmentation on the basis of end user:
- Automotive and Transportation
- Electrical and Electronics
- Metals and Machinery
- Aerospace and Defence
On the Basis of region, the market can be divided into:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The increased use of laser welding technology for various industrial applications is driving growth in the worldwide robotic welding market. Laser welding is well-known for its high speed, higher accuracy, better dependability, and improved precision, all of which contribute to the market’s growth. Robotic welding has become indispensable in heavy industries that rely heavily on laser welding procedures, such as machinery and automotive, due to its time-saving features.
Short welds with curved surfaces that are otherwise difficult to access are quickly completed with the laser welding technology. With the development of advanced digital technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT) to raise productivity and arrive at precise findings, the industry is projected to profit in the future. Robotics are more productive, produce fewer errors, and can significantly increase industry production. As a result, in the approaching years, such factors are expected to fuel market expansion.
Key Market Players
The major players in the market are Fanuc Corporation, Yaskawa Electric Corporation, Kuka AG, ABB Ltd., Kawasaki Heavy Industries, Ltd., Panasonic Corporation, Daihen Corporation and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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