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Global Robotic Welding Market To Grow At A CAGR Of 8.7% And Reach $10,784.4 Million By 2026 
global robotic welding market is projected to reach $10,784.4 million by 2026, growing at a CAGR of 8.7% from 2019 to 2026.
PORTLAND, UNITED STATES, UNITED STATES, May 9, 2023 /EINPresswire.com/ — Robotic welding is an automated welding process that utilizes automated technology and robots to weld metal parts together. It is used to improve efficiency, reduce cost, and improve quality in welding operations. Robotic welding is used in many industries, including automotive, aerospace, construction, shipbuilding, and consumer goods. The global robotic welding market is expected to grow at a CAGR of 10.1% from 2019 to 2026.
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Market Dynamics
The global robotic welding market is driven by several factors, such as increasing demand from the automotive industry, rising labor costs, and technological advancements. The automotive industry is the largest consumer of robotic welding equipment, as it requires high precision, repeatability, and speed. Furthermore, the rising cost of labor is driving manufacturers to adopt robotic welding equipment to reduce costs. Technological advancements in robotic welding systems, such as improved programming, improved welding speed and accuracy, and the development of advanced welding materials, are also driving the growth of the global robotics welding market.
Market Segmentation
The global robotic welding market is segmented on the basis of application, type, component, and region. On the basis of application, the market is segmented into automotive, aerospace, construction, shipbuilding, and consumer goods. On the basis of type, the market is segmented into arc welding, spot welding, and laser welding. On the basis of component, the market is segmented into hardware, software, and services.
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Regional Analysis
The global robotic welding market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the largest market for robotic welding, followed by Europe. The growth of the market in North America is driven by the presence of several major automotive companies in the region. The market in Asia Pacific is expected to witness significant growth, due to the increasing demand for robotic welding in the automotive industry in countries such as China, Japan, and India.
Competitive Landscape
The global robotic welding market is highly competitive, with several large players operating in the market. The major players include ABB Ltd., FANUC Corporation, Yaskawa Electric Corporation, KUKA AG, Panasonic Corporation, and Lincoln Electric Company.
Conclusion
Robotic welding is an automated welding process that utilizes robots and automated technology to weld metal parts together. The global robotic welding market is expected to grow at a CAGR of 10.1%
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David Correa
Allied Analytics LLP
+15038946022 ext.
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