Global Foundry Robots Market Growth to be Propelled by a CAGR of ~5% throughout 2022 – 2031
Global Foundry Robots Market Growth to be Propelled by a CAGR of ~5% throughout 2022 – 2031 Owing to the Rapid Rise in Industrialization in Emerging Economies Around the World
Research Nester published a report titled “Foundry Robots Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global foundry robots market in terms of market segmentation by type, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global foundry robots market is estimated to occupy a sizeable amount of revenue by growing at a CAGR of ~5% during the forecast period, i.e., 2022 – 2031, ascribing to the increasing rate of industrialization in developing nations, and growing manufacturing output in those countries. Along with these, rising adoption of robots in industries resulting from their ability to withstand harsh environments and handle heavy work pieces effectively are also expected to accelerate the growth of the market in the forthcoming years.
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The market is segmented by type and application. Based on type, the electric drive robots segment is anticipated to acquire the largest share during the forecast period on the back of the exceptionally high range of speed, torque and power of these robots. Additionally, by application, the automotive segment is projected to grab the largest share over the forecast period attributing to the escalating utilization of foundry robots for performing tasks such as inspecting parts, moving materials, and spraying paint onto the cars.
Geographically, the global foundry robots market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Asia Pacific is evaluated to witness noteworthy growth in the market during the forecast period attributing to the surging adoption of advanced technologies in Japan, China and Taiwan. Moreover, the market in North America is assessed to acquire the largest share over the forecast period ascribing to the high implementation of foundry robots in manufacturing units, and strong presence of prominent market players in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Rapidly Growing Industrialization in Emerging Economies to Drive Market Growth
With rapidly rising urbanization and industrialization in emerging economies, large number of manufacturing units are extensively being set up in those regions. This is giving rise to the adoption of robotics in these facilities that are able to perform tedious tasks effectively without any error at lower production costs, which in turn is predicted to boost the market growth significantly in the near future.
However, high cost of installing foundry robotsis expected to operate as key restraint to the growth of the global foundry robots market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global foundry robots market which includes company profiling ofABB, Ltd.,Arburg GmbH + Co KG, Alfa Industrial Group, The Yaskawa Electric Corporation, Omron Adept Technology, Inc., KUKA AG, Tecnomatic S.P.A., Stäubli International AG, Yamaha Motor Company, iRobot Corporation, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global foundry robots market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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