Robotic Welding Market Size
The global robotic welding market was valued at USD 6.52 billion in 2021 and estimated to reach value of USD 13.76 billion by end of 2029 growing at a CAGR of 9.8% between 2022 and 2029.
Robotic Welding Market Overview
Robotic welding is an automated process in which mechanized programmable tools are used to handle industry equipment that helps robots to perform the welding process. Robotic welding machines are increasingly being used for quick completion, error-free and increased security. It has more versatility as it can weld intricate and accurate lines. Robotic welding is becoming more popular as a way to boost productivity, reduce dependency and cut short-term costs. Because of its higher productivity and time-saving properties, robotic welding is vital for heavy industries and the automotive industry. According to the International Federation of Robotics, the number of industrial robots in use is growing each year and is expected to continue to grow in the future.
In 2020, the COVID-19 outbreak had a negative impact on the robotic welding market, resulting in lower shipments of welding robots and associated peripherals. As a result, the revenue earned by them has decreased. The market's growth decreased significantly in the first half of 2020. This pattern persisted until the first quarter of 2021. The demand for welding robots is expected to surge as the production volume and the demand for industrial products such as automobiles, electronic devices, industrial machines, etc., In addition to this, the US-China trade war also affected the growth of the market in 2019 and 2020.
Robotic Welding Market Dynamics
Industry 4.0 completely automates industrial processes with minimal to negligible human intervention. The industrial internet of things (IIoT), cloud robotics cyber-physical systems, big data and cloud computing are all areas where it can help. As a result, welding robot manufacturers are moving toward the manufacturing of Industry 4.0-compatible robots that are networked and cognitive.
Many end-user industries, including aerospace and defense, metals and machinery, electrical and electronics and automotive and transportation have begun to incorporate Industry 4.0 concepts into their manufacturing processes in order to reap the benefits of increased productivity, flexibility, and safety, as well as better quality, reduced consumables and lower production costs. The end-user industry giants are partnering with robotic welding market players to put out innovative Industry 4.0-ready solutions.
Robotic Welding Market Drivers
- Ongoing penetration of 5G in industrial manufacturing
- Increasing implementation of industry 4.0
- Utilization of automated welding equipment to favor market growth
- Increasing adoption of welding robots in automotive and transportation industries
Robotic Welding Market Restraints
- High initial costs associated with installation of welding robots for SME
- Perceived notion of losing jobs due to automation
Robotic Welding Market Opportunities
- Government initiatives to support digital transformation in APAC
- Increase in investment in R&D activities
Robotic Welding Market Segmental Analysis
The global Robotic Welding market is segmented based on Type, Payload, Industry, and region.
Robotic Welding Market, By Type
Arc welding type segment dominated the market in 2021
On the basis of type robotic welding market is categorized into spot welding Laser, MIG/TIG, arc welding and others. Arc welding dominated the market in 2021 by accounting for more than 30% of the global robotic welding market. This high share is due to the growing demand for this type in the automotive and other similar industries which require repeatability and a higher accuracy. Apart from this, due to its low cost, extensive applicability and its usage convenience are contributing to the increased market demand.
Spot welding robots take up less space and require less maintenance and are hence anticipated to grow with the fastest CAGR during the forecast period of 2022 to 2029. They provide better welding precision for heavy-duty applications. High-payload spot welding robots are mostly employed in the automotive and transportation, construction and metals and machines industries. By end of forecast period, the spot-welding robots’ segment is expected to account for the majority of the robotic welding market.
Robotic Welding Market, By Payload
More than 150 kg payload to be most lucrative segment in the coming years
On the basis of payload robotic welding market has been categorized into less than 50 kg, 50-150 kg and more than 150 kg. During the forecast period, more than 150 kilograms payload segment is expected to account for the greatest share of the robotic welding market. The rising demand for high-payload arc and spot-welding robots in the, metals and machinery, automotive and transportation and construction industries can be linked to the rise of this segment.
Due to the employment of welding robots with payloads greater than 150 kilograms in the automotive and transportation industries for welding heavy-body panels, this industry is the largest end user of welding robots with payloads greater than 150 kilograms. Moreover, the growing demand for automobile is driving the expansion of the robotic welding market’s more than 150 kilograms payload segment.
Robotic Welding Market Regional Analysis
Asia Pacific to hold dominance in the market owing to rapid industrial transformation and digitization
Asia Pacific accounted for the largest percentage of revenue in 2021. The demand for welding robots in this region is due to the increase in the adoption of automated systems in the automotive and other sectors, enhanced and safe working conditions and technical breakthroughs. The robot’s sector in China has grown at a rapid pace. The country has been substantially investing and deploying 100,000 industrial robots in a variety of industries, for boosting the demand for welding robots.
Also, China, South Korea, India, Japan have long been manufacturing hubs for electronic devices, equipment and components, flourishing automotive and other industrial sectors. For large scale production, these industries require robots to reduce production time and improve efficiency which aids in robotic welding market growth. Scalability or expansion of existing manufacturing capacities is another major factor that supports the robotic welding market growth in this region.
Robotic Welding Market Key Players Analysis
The report provides key player analysis along with company revenue shares in order to give a broader overview of the market players in the Robotic Welding market.
- Yaskawa Electric Corporation
- FANUC Corporation
- Panasonic Corporation
- The Lincoln Electric Company
- Miller Electric Mfg. LLC
- Kuka AG
- DENSO Corporation
- IGM Robotersysteme AG
- DAIHEN Corporation
- Kawasaki Heavy Industries, Ltd.
- NACHI-FUJIKOSHI CORP.
- Hyundai Robotics
- Comau S.p.A.
Global Robotic Welding Market Report
|Market Size in 2021||USD 6.52 billion|
|Market Size in 2029||USD 13.76 billion|
|CAGR (%)||9.8% from 2022 to 2029|
|Historic Period||2018 – 2020|
|Forecast Period||2022 – 2029|
|Segments Covered||Type, Payload, Industry|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Key Companies Profiled||ABB, Yaskawa Electric Corporation, FANUC Corporation, Panasonic Corporation, The Lincoln Electric Company, Miller Electric Mfg. LLC, Kuka AG, DENSO Corporation, IGM Robotersysteme AG, DAIHEN Corporation, Kawasaki Heavy Industries, Ltd., NACHI-FUJIKOSHI CORP., Hyundai Robotics, Comau S.p.A. and Others|
Global Robotic Welding Market Segmentation
Global Robotic Welding Market, By Type
- Spot Welding
- Arc Welding
Global Robotic Welding Market, By Payload
- Less than 50 kg
- 50-150 kg
- More than 150 kg
Global Robotic Welding Market, By Industry
- Electrical & Electronics
- Aerospace & Defense
- Railway & Shipbuilding
- Automotive & Transportation
- Electrical & Electronics
Global Robotic Welding Market, By Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa