Robotic welding market projected to grow at a CAGR of 8.91% through 2023

Yaskawa Motoman's ArcWorld® 2000 welding workcell modular solution was designed for robotic welding of large workpieces. Photo courtesy of Yaskawa.

The global robotic welding market, valued at $3.59 billion in 2017, is expected to grow at a CAGR of 8.91% from 2018 to 2023, according to a new report from Dublin-based Research and Markets.

The automotive and transportation industry is expected to grow at the highest CAGR during the forecast period. Growth in this segment is spurred by increasing vehicle demand in emerging economies and increasing adoption of electric vehicles worldwide.

Asia Pacific is projected to dominate the global robotic welding market during the forecast period because of increased automation in China. The country, the largest market in Asia Pacific, is focused on adopting welding robots in all possible industries. Other key markets in Asia Pacific are Japan, South Korea, Taiwan, India, and Thailand.

Leading players in the robotic welding market include Yaskawa (Japan), Kuka (Germany), Fanuc (Japan), ABB (Switzerland), and Panasonic (Japan).

For more information, visit www.researchandmarkets.com/publication/metdusb/4591042.