Rising Benefits of Robotic Welding to Boost Robotic Welding Market Share During 2021–2028
According to our latest market study on “Robotic Welding Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Payload, and End-User,” the market was valued at US$ 4,397.73 million in 2021 and is projected to reach US$ 11,316.45 million by 2028; it is expected to grow at a CAGR of 14.5% from 2021 to 2028.
Automation has stirred the industrial sector by drastically changing the way of production and reducing the manufacturing time and production cost, owing to which robotic welding market players are shifting toward networked and intelligent production of Industry 4.0-compatible robots. For instance, in July 2020, ABB India opened a new robotics facility to offer benefits of Industry 4.0 such as digitalization technologies and industry-leading robotics to Indian industries across automotive & transportation and electrical & electronics sectors. Additionally, players in the robotic welding market take various strategic initiatives toward advanced Industry 4.0-ready solutions. For instance, in October 2020, Fujitsu, FANUC Corporation, and NTT Communications established DUCNET Co., Ltd. to offer a cloud service for supporting digital transformation (DX) in the machine tool industry and the broader manufacturing industry. However, the rise in need for automation across industries, coupled with significant technological growth, is expected to fuel the robotic welding market growth.
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Based on type, the global robotic welding market is categorized into spot welding, arc welding, and others. In 2020, the spot-welding segment led the robotic welding market and accounted for the largest market share. Spot welding is a resistance welding process that uses a large electrical current to join two or more metal sheets in a single location. Spot welding technology has evolved through its extensive use in automobile manufacturing using articulated robots. It is among the earliest welding procedures that are used in several applications. It is employed in a vast selection of businesses and has been widely used in welding sheet steel automobile bodies. Moreover, the increasing product development by robotic welding market players will drive the growth of robotic welding market size as spot welding continues to be a major application area in automotive and electronics manufacturing. For instance, Yaskawa Motowan, one of the key robotic welding market players, is actively collaborating with automotive OEMs to develop innovative robots to improve the overall body shop productivity.
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Impact of COVID-19 Pandemic on North America Robotic Welding Market
Due to the COVID-19 pandemic, most of the manufacturing facilities and robotics system integrators were either operating with a partial workforce or were closed, and the supply chain of raw materials and components was disrupted. robotic welding market players in North America. Further, owing to the weaker demand from end users, the deployment of robotic welding witnessed lower deployment numbers, which affected the robotic welding market growth in 2020. However, according to the Association for Advancing Automation from Q1 of 2021, procurement of robotics was 86% higher by metal manufacturers, 72% by life sciences, pharmaceuticals, and biomed manufacturers, 32% by food and consumer goods manufacturers, and 12% by other nonautomotive manufacturers compared to Q1 of 2020 in North America. Thus, the weaker demand from end users affected the robotic welding market growth in 2020; however, the growing inclination to automation by nonautomotive manufacturers fueled the growth of the robotic welding market size from 2021.
The key players operating in the global robotic welding market include ABB; FANUC; IGM ROBOTERSYSTEME AG; Kawasaki Heavy Industries, Ltd; KUKA AG; NACHI-FUJIKOSHI CORP; OTC DAIHEN Inc.; Panasonic Corporation; Novarc Technologies; and Yaskawa America, Inc. Several other robotic welding market players have been analyzed to understand the robotic welding market
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