ResearchAndMarkets.com has recently released a report titled “Global Robotic Welding Market 2022-2028”, which states that the global market for robotic welding is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.35% in the evaluated phase of 2022-2028. The report notes that the key driver for this growth is the increased preference for robots for welding due to their high efficiency.
Furthermore, the implementation of Industry 4.0 for quality improvement, productivity, and flexibility, and improvements in working speeds are expected to contribute to the growth of the robotic welding systems. However, the report also notes that the high initial costs required for installing automated robots pose a significant challenge to the growth of this market.
The report highlights the presence of a robust automotive industry and an increase in passenger cars and commercial vehicle manufacturing as the primary factors aiding the demand for robotic welding systems in the Asia-Pacific region, which is expected to observe the fastest growth rate in the global market over the forecast period.
On the other hand, North America is the leading region in the global market, accounting for the largest share in 2021, as a majority of Fortune 500 manufacturing companies have their presence in this region. As a result, the adoption of automation, including robotic welding systems, across the manufacturing sector is significantly high.
ABB is one of the key players in the market for robotic welding systems. The company offers a range of products, solutions, systems, and services to enhance productivity, increase power reliability, and improve energy efficiency. ABB holds a dominant position in various end-user markets, serving electric, gas, and water utilities, as well as commercial and industrial customers.