As per Future Market Insights analysis, the painting robots market is projected to be valued at ~US$ 2.9 Bn in 2021, expanding at a CAGR of ~10.1% over the forecast period of 2021-2031.
The painting robots market will register increasing growth as a result of high demand from various industries including HVAC, furniture, sanitary ware, textiles and heavy engineering equipment.
Industries are exhibiting high demand for flexibility in automation systems to move beyond traditional manufacturing processes, especially for automotive and electronics manufacturing. The application of painting robots is expected to grow in the automotive sector as a result of higher electric vehicle production.
According to the study, Germany, the U.S., and Japan are likely to emerge as a highly lucrative market for painting robots. Surging automotive sales in Germany will remain a chief growth driver.
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Key Takeaways of Painting Robots Market Study
Painting robots market size will reach US$ 2.92 Bn in 2021 The U.S. will emerge as a highly lucrative market, creating absolute dollar opportunity of US$ 334 Mn by 2031 Demand for painting robots will grow by 12.7% CAGR in Germany China will lead sales of painting robots in East Asia. Demand for painting robots in China will grow by 7.3% CAGR between 2021 and 2031 Japan and South Korea are expected to account for 16% of sales in painting robots market in 2021.
“With manufacturing sector exhibiting high demand of painting robots, market players are expected to focus on customizing features to cater to specific industry requirements. Besides this, they are expected to use diverse marketing platforms for product positioning,” said a FMI analyst.
During the forecast period, the painting robots market is expected to be aggressively driven by demand for automation. With the positive influence from industry 4.0 and the rising applications of quality management systems to enhance efficiency of operations and reduction of error rate, there will be surge in sales of painting robots in the coming years.
Competitive Landscape
The global market for painting robots is identified to be extremely consolidated, with the top manufacturers controlling about 75-80% of the overall market. Market players are competing to increase their global footprints and collaborate directly with end users.
By providing speed and scalability through their goods, they are producing economic solutions and addressing production issues for their customers. The major players are also focusing on value added services to establish robust service network.
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Furthermore, painting robot manufacturers are adopting key supply trends such as easy integration of robots into customers’ systems, easily programmable robots, and flexible deployment to gain a competitive edge. Some of the leading players in the market are Dürr AG, ABB Ltd, Kuka AG, Fanuc Corporation, Kawasaki Heavy Industries Ltd, and Yaskawa Global.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
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