The size of the global welding robot market is currently estimated at US$7.6 billion, but is expected to nearly double by 2027, with a projected size of US$14 billion. This is evident from the report “Global Robotic Welding Industry”.
Spot welding, one of the segments analyzed in the report, is expected to grow at an annual rate of 8.5% and reach $8.4 billion by the end of the analysis period. Taking into account the ongoing recovery from the pandemic, growth in the Arc Welding segment is adjusted to a revised CAGR of 9.4% for the next 7-year period. The US market is estimated at $2.3 billion, while China is expected to grow at 8.5% CAGR
The US welding robot market is estimated to reach $2.3 billion in the year 2020. China, the second largest economy in the world, is expected to reach a market size of $2.4 billion by the year 2027, with a CAGR of 8.5% over the analysis period 2020 to 2027. Other notable markets include Japan and Canada, both of which are expected to grow by 8.5% and 7.4% respectively over the period 2020-2027. Within Europe, Germany is expected to grow at approximately 7.4% CAGR.
In the global ‘Other Types’ segment, the US, Canada, Japan, China and Europe will drive the estimated CAGR of 11.8% for this segment. These regional markets, which accounted for a combined market size of US$537.2 million in the year 2020, are expected to reach US$1.2 billion by the end of the analysis period. China remains one of the fastest growing countries in this cluster of regional markets.
