Robotic Welding Market to Reach $10.78 Bn, Globally, by 2026 at 8.7% CAGR Allied Market Research
Emergence of Industry 4.0 rise in adoption of welding robots in the automotive industry, and surge in usage of robots to improve efficiency in welding fuel the growth of the global robotic welding market
PORTLAND, Oregon, Dec. 11, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Robotic Welding Market by Type (Spot Welding, and Arc Welding), End User (Automotive & Transportation, Electrical & Electronics, Metals & Machinery, and Others), and Payload (Less Than 50 kg, 50-150 kg, and More Than 150 kg): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global robotic welding industry generated $5.45 billion in 2018, and is expected to reach $10.78 billion by 2026, registering a CAGR of 8.7% from 2019 to 2026.
Drivers, restraints, and opportunities
Emergence of Industry 4.0 rise in adoption of welding robots in the automotive industry, and surge in usage of robots to improve efficiency in welding drive the growth of the global robotic welding market. However, high initial cost of installation for small manufacturing units hinders the market growth. On the other hand, rise in investments for research & development activities create new opportunities in the market.
The spot-welding segment to maintain its highest share throughout the forecast period
Based on type, the spot-welding segment held nearly three-fifths of the total share of the global robotic welding market in 2018 and is expected to maintain its highest share throughout the forecast period. This is due to ease and quickness in welding provided by this type along with absence of dangerous and hazardous open flame that enables safety. However, the arc welding segment is expected to register the fastest CAGR of 9.2% from 2019 to 2026, owing to its advantageous features including less distortion and high welding speed.
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The automotive & transportation segment to retain its lead position by 2026
Based on end user, the automotive & transportation segment accounted for the largest market share in the global robotic welding market, contributing to more than two-fifths of the total share in 2018, and is estimated to retain its lead position during the forecast period. This is due to designing and manufacturing of monocoque chassis, modular frame chassis, and ladder chassis with lighter material for lighter vehicles. On the other hand, the metals & machinery segment is expected to register the highest CAGR of 10.0% from 2019 to 2026. This is due to manufacturing of high-precision components with high demand for micro-machined parts and components.