Robotic Welding Market to Progress with 7.35% CAGR during 2022-2028

Triton Market Research presents the Global Robotic Welding Market report segmented by Welding Type (Spot, Arc {MIG, TIG}, Laser, Plasma, Other Welding Types), by Payload Capacity (Less Than 50 KG, 50 KG To 150 KG, More Than 150 KG), by Industry Vertical (Metals & Machinery, Electrical & Electronics, Automotive & Transportation, Other Industry Verticals), by Geographical Region (Europe, North America, Asia-Pacific, Middle East and Africa, Latin America), discussing Market Summary, Industry Outlook, Market Drivers, Market Challenges, Market Opportunities, Competitive Landscape, Research Methodology & Scope, and Global Market Size, Forecast, & Analysis (2022-2028).

According to the study by Triton Market Research, the Global Robotic Welding Market is likely to develop with a CAGR of 7.35% during the forecast years from 2022 to 2028.

The popularity of welding robots is on the rise in several end-user industries due to their high efficiency. For arc welding operations, these robots show 75% efficiency compared to human workers, which has significantly bolstered their demand.

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In addition, welding robots are capable of working for longer periods, thus providing a major advantage to welding companies. Owing to the aforementioned factors, the global market for robotic welding is expected to witness notable growth in the coming years.

Welding robots are generally programmed using hi-tech technologies that aid in their efficient functioning. As a result, high costs are incurred for installing and maintaining them, which is likely to impede market growth.

The Asia-Pacific leads the global market, and accounted for the largest revenue share in 2021. The region is a global hub for manufacturing and exporting technologically advanced consumer goods, such as smartphones, laptops, tablets, computers, television sets, radio sets & sound systems, household appliances, and other electronic equipment.

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Besides, initiatives such as 'Made in China 2025' and 'Made in India' by the government authorities of the respective nations have provided a further boost to their manufacturing sectors. The rising investments in the manufacturing sector, for electronics and machinery, among others, are boosting the adoption of welding robots across the Asia-Pacific.

Kemppi Oy, Yaskawa Electric Corp, Panasonic Corporation, Nachi-Fujikoshi Corp, Hyundai Motor, Kawasaki Heavy Industries Ltd, Lincoln Electric Holdings Inc, ABB Ltd, Miller Electric Mfg LLC, FANUC Corporation, Daihen Corporation, Denso Corporation, Siasun Robot & Automation Co Ltd, Kuka AG, and IGM Robotersysteme AG are some of the notable players in the robotic welding market.

The threat of substitution in this market is low, as the technology used is unique and necessary for all kinds of manufacturing activities in terms of metals and plastics used. In addition, the threat of new entrants is also moderate in the industry. This is because the initial investment required is moderate and the legal barriers for manufacturing welding robots are also low. Also, several governments have implemented policies offering loans and subsidies to new entrants, which also encourages aspiring players to set foot in the market.

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This release was published on openPR.