The Metal Casting Robots Market is being driven by a number of factors, including the growing emphasis on safety and quality, the requirement for higher production and efficiency, and the rising cost of labour. Furthermore, the market for Metal Casting Robots is being driven by the rising use of Industry 4.0 technologies. Additionally, to enhance their production processes, the automotive and aerospace sectors are progressively implementing metal-casting robots.
The increased emphasis on safety and quality, the need for greater productivity and efficiency, and the rising cost of labour are the main factors driving the need for metal-casting robots. Additionally, during the anticipated period, possibilities for the expansion of the metal casting robots market are anticipated to arise from the rising demand from the automotive and aerospace industries.
The Metal Casting Robots Market has a number of benefits, including the fact that they are less prone to accidents and can perform longer shifts without becoming tired than human employees. They may also work in conditions that are too hot or cold for human employees and even handle dangerous materials. They also require less upkeep and are less likely to make mistakes than human employees.
Robots used for metal casting are referred to as metal casting robots in the market definition. These robots are utilised in a variety of industries, including aerospace, semiconductor, automotive, and metal casting.
It is anticipated that from 2021 to 2031, the global market for metal casting robots would expand at a CAGR of 14.5%. In 2020, the market was worth USD 1,277.1 million, and by 2031, it is anticipated to be worth USD 3,832.3 million.
The market for metal casting robots is being constrained by issues like high startup costs and a shortage of experienced workers. Additionally, the metal casting industry's slow adoption of Industry 4.0 technologies is impeding the market's expansion for metal casting robots.
Nevertheless, possibilities for the market expansion of metal casting robots are anticipated to be created throughout the forecast period by the rising demand from the automotive and aerospace industries.
FANUC Corporation (Japan), Yaskawa Motoman Robotics Division (Japan), ABB Ltd. (Switzerland), KUKA AG (Germany), Trumpf Group (Germany), Robert Bosch GmbH (Germany), Mitsubishi Electric Corporation (Japan), and Hitachi, Ltd. (Japan) are the major companies in the metal casting robots market.
The Fully Automatic Type to Emerge as the Most Lucrative Segment
The Metal Casting Robots Market is divided into Semi-Automatic and Fully Automatic based on type. Fully Automatic robots are predicted to experience the largest growth during the projected period of all of these. Fully Automatic robots are anticipated to experience the largest growth over the course of the projected period because of the rising demand for improved productivity and efficiency. The second-highest growth is anticipated for semi-automatic robots during the projection period.
The Most Popular Application Segment in Automobile Industry
The market for metal casting robots is divided into four categories based on applications: metal castings, the automotive industry, semiconductors, aerospace, and others. The automotive industry is predicted to experience the biggest growth of these during the projection period. because there is a growing need for casting robots in the automobile industry for a variety of uses, including engine blocks, cylinder heads, gearbox cases, and suspension components. The second-highest growth throughout the forecast is anticipated for the Metal Castings application. due to the demand for casting robots in a variety of applications, including gravity casting, sand casting, investment casting, and die casting.
North American region to render Adequate Financing Avenues
North America, Europe, Asia Pacific, South America, and Middle East & Africa make up the five geographic segments that make up the global market for metal casting robots. During the projection period, North America is anticipated to be the metal-casting robot largest market. One of the key factors fuelling the growth of the metal casting robots market in this area is the abundance of metal casting producers in the US and Canada. During the projected period, Europe is anticipated to be the second-largest market for metal-casting robots. One of the key factors fueling the growth of the Metal Casting Robots market in this area is the abundance of automotive and aerospace manufacturers in Germany, France, and the UK. During the projected period, the Metal Casting Robots market is anticipated to develop at the quickest rate in Asia Pacific. One of the key factors boosting the market for metal-casting robots is the rising demand from China and India.
COVID-19 Impact and Market Status
The global Metal Casting Robots market has been negatively impacted by the COVID-19 outbreak. Due to the slowdown in the automobile and aerospace industries brought on by the pandemic, there is a decline in the need for Metal Casting Robots. Due to factory closures brought on by the pandemic, the manufacturing of Metal Casting Robots has also decreased. Additionally, because to limitations put in place by various nations, the pandemic has led to a decline in the import and export of Metal Casting Robots. The industry is anticipated to rebound in 2021 as the aerospace and automotive sectors are anticipated to resume production. Additionally, as the metal casting industry adopts industry 4.0 technologies, the demand for Metal Casting Robots is anticipated to rise.
Latest Innovations in the Global Metal Casting Robots Market: A Snapshot
• FANUC Corporation introduced the new FANUC C200iA/350 palletizing robot in January 2019. The new robot has a 350 kg payload capacity and is intended for high-speed applications.
• Yaskawa Motoman Robotics Division introduced the new EH600SC arc welding robot in February 2019. The new robot has a 600 kg payload capacity and is intended for high-speed applications.
• ABB Ltd. introduced the IRB 8700 foundry robot in May 2019. The new robot has a payload capacity of 700 kg and is intended for heavy-duty tasks.
Metal Casting Robots Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||USD 3,832.3 million|
|Growth Rate||CAGR of 14.5% during 2021-2031|
|Segment Covered||by Type, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||FANUC Corporation (Japan), Yaskawa Motoman Robotics Division (Japan), ABB Ltd. (Switzerland), KUKA AG (Germany), Trumpf Group (Germany), Robert Bosch GmbH (Germany), Mitsubishi Electric Corporation (Japan), and Hitachi, Ltd. (Japan)|
Key Segment of Global Metal Casting Robots Market
By Type Overview 2021-2031, (USD Million)
• Fully Automatic
By Application Overview 2021-2031, (USD Million)
• Metal Casting
• Automobile Industry
By Region Overview 2021-2031, (USD Million)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa