According to our latest market study on "Robotic Welding Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type, Pay Load, 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.
Robotic welding is a process in which a programmable robot automates the welding procedure by handling the item and performing the welding operation at the same time. These welding robots are widely used in the automotive industry to weld parts of interior and exterior car components. The use of welding robots leads to increased productivity with fewer severe labor injuries, faster and more accurate order completion, and improved uptime at lower costs. Additionally, robotic welding improves working space efficiency in end-user industries and enhances supply chain performance, driving the growth of the market share. The growth of the robotic welding market is further fueled by the widespread adoption and implementation of Industry 4.0, which brings numerous benefits compared to manual welding.
Impact of COVID-19 Pandemic on APAC Robotic Welding Market Size:
Countries such as China, Japan, India, South Korea, and India have a large number of electronics and automotive manufacturers and end users. Despite the economic impact of 2020, the deployment of industrial robots in APAC increased by 7% to 249,598 units from the previous year. End users from countries like China, South Korea, Singapore, Japan, Taiwan, and Malaysia saw growth in the adoption of industrial robotics, including welding robots, in 2020, while end users from countries like India, Thailand, and Vietnam experienced a decrease in deployment. The automotive industry had weaker adoption in APAC in 2020. The electronics and semiconductor industry heavily invested in robotic welding in 2020 and this trend is expected to continue, driving growth in the robotic welding market.
Key Findings of Study:
Europe holds a significant share in the global robotic welding market, thanks in part to its thriving automotive industry. The region has seen a rise in the number of vehicles manufactured, with over 4.3 million and 3.5 million vehicles produced in 2019 and 2020 respectively. Major companies such as PSA Group, BMW Group, Daimler, Opel Group, Ford of Europe, Hyundai Motor Europe, Iveco, Fiat Chrysler Automobiles, Jaguar Land Rover, and Renault Group are involved in automotive manufacturing. These companies have increased their investment in automation solutions, contributing to the growth of the robotic welding market.
North America is forecasted to see the highest growth in the global robotic welding market. Industries such as metals, pharmaceuticals, and consumer goods have increased their adoption of robotic processes. In Q1 of 2021, the metal and food & consumer goods industries saw an 86% and 72% increase in procurement of industrial robots respectively. These factors are expected to drive growth in the robotic welding market in the region during the forecast period.
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