Global Painting Robots Market Witnessed to Exhibit Y-o-Y CAGR of 10.1% to Attain a Worth of US$ 2.9 Bn in 2021 & is Projected to Cross Revenue of US$ 7.65 Bn by year 2031-end | Future Market Insights, Inc.
Amid Growing Demand in Construction & Aerospace Industries Painting Robots Market will reach US$ 7.65 Bn in 2031. The U.S. Painting Robots Market is expected to create an absolute dollar opportunity of US$ 334 Mn from 2021-2031
NEWARK, Del, Dec. 06, 2022 (GLOBE NEWSWIRE) -- The global painting robots market is expected to reach a valuation of US$ 7.65 Bn in 2031, with sales growing at a stellar CAGR of 10% from 2021 to 2031. Valued at US$ 2.7 Bn in 2020, the target market is driven by swift expansion of the automobile, aerospace, consumer goods, and electronics sector. Increasing application by the construction industry will bolster the growth of the painting robots market during the forecast period.
Factors such as surging number of industrial clusters, digital investments, green infrastructure, talent reskilling, and high-value food industries are expected to act as major growth drivers for the painting robots market, particularly in ASEAN countries which are swiftly emerging as the popular hub for robotics and automation. In addition to this, the rapidly advancing automobile, aerospace, consumer products, and electronics sectors has further encourages these countries to adopt modern technology which includes robotic painting.
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More and more industries are leaning towards complete automation. With automation systems becoming increasingly adaptive and intelligent; capable of changing their behavior on their own to raise productivity or lower unit costs, industries are increasingly keen on these automation systems. Due to advancements in artificial intelligence and sensor technology, automated painting robots are expected to better handle a greater amount of task-to-task unpredictability. All of these considerations are likely to propel the painting robots market during the forecast period.
“Increasing adoption of painting robots in aerospace and the construction sector along with other industries is expected to spearhead the global growth of the painting robots market over the forecast period,” - says an FMI analyst.
The painting robots market in Europe will generate an incremental opportunity of US$ 983 Mn.
The U.S.A’s painting robots market will create a growth opportunity of US$ 334 Mn during the forecast period.
The painting robots market in Germany will expand at a CAGR of 12.7% during 2021-2031.
By type, robotic arms will hold 60% of the global painting robots sales.
On the basis of payload, the upto 5 kg segment will generate a growth opportunity of US$ 1.93 Bn.
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FANUC Corporation, ABB Ltd, KUKA AG, Yasakawa Global, Kawasaki Heavy Industries, Ltd., DÜRR Group, and Staübli International AG among others are some of the major players in the painting robots market profiled in the full version of the report.
In a highly consolidated market, key market participants are focusing on entering new markets to expand their geographical footprints. These businesses are keen on working closely with OEMs, establishing new and advanced facilities, and engaging in strategic partnerships and collaborations.
More Insights into Painting Robots Market Report
In its latest report, FMI offers an unbiased analysis of the global painting robots market, providing historical data from 2016 to 2020 and forecast statistics for 2021 to 2031. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (pedestal robots, robotic arms), payload (upto 5 Kg, upto 15 Kg, upto 45 Kg), function (painting (waterborne, solventborne, UV cured), painting, spraying & coating), reach (upto 1,000 mm, upto 1,500 mm, upto 2,000 mm, upto 2,500 mm, upto 3,000 mm), configuration (6 axis, 7 axis), application (atomizer, air gun), end use (transportation (automotive, railways, 2 & 3 wheelers, aerospace), consumer appliances, foundry & casting, furniture, textiles, construction, heavy engineering equipment, HVAC & refrigeration, sanitaryware, others), and region.
According to the latest FMI reports, based on segmentation, the transportation segment will likely contribute significantly to the overall growth of the target market. This segment is expected to generate an absolute dollar opportunity of US$ 2 Bn during 2021-2031. In terms of application, the atomizer segment will dominate the global marketplace with an incremental opportunity of US$ 2.43 Bn while the 7 axis configuration segment will create a growth opportunity of US$ 2.8 Bn during the projected period.
Based on region, the painting robots market in the United States will present considerable growth during 2021-2031. Generating an absolute dollar opportunity of US$ 334 Mn during this period, the target market in this country will be driven by strong presence of OEMs and higher demand for the target product in industrial verticals like construction and transportation. Apart from the U.S., countries like Germany and China are anticipated to exhibit remarkable growth in the painting robots market during the forecast period.
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Key Market Segments Covered
Upto 5 Kg
Upto 15 Kg
Upto 45 Kg
Painting, Spraying & Coating
Upto 1,000 mm
Upto 1,500 mm
Upto 2,000 mm
Upto 2,500 mm
Upto 3,000 mm
By End Use Sector:
2 & 3 Wheelers
Foundry & casting
Heavy Engineering Equipment
HVAC & Refrigeration
Middle East & Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product innovation & Diversification Read Full TOC…
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