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 expand due to high demand from various industries such as HVAC, furniture, sanitary ware, textiles, and heavy engineering equipment.
Industries, particularly automotive and electronics manufacturing, have a high demand for flexibility in automation systems to move beyond traditional manufacturing processes. The use of painting robots in the automotive industry is expected to increase as electric vehicle production increases.
According to the research, Germany, the United States, and Japan are likely to emerge as highly profitable markets for painting robots. Rising automotive sales in Germany will continue to be a major growth driver.
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Key Takeaways of Painting Robots Market Study
The market for painting robots will be worth $2.92 billion USD in 2021. The United States will emerge as a highly profitable market, with a $334 million absolute dollar opportunity by 2031. Painting robot demand in Germany will grow at a CAGR of 12.7 percent. East Asian painting robot sales will be dominated by China. China’s demand for painting robots will grow at a CAGR of 7.3 percent between 2021 and 2031. Japan and South Korea are expected to account for 16% of the painting robots market in 2021.
“With high demand in the manufacturing sector for painting robots, market players are expected to focus on customising features to meet specific industry requirements.” Aside from that, an FMI analyst expects them to use a variety of marketing platforms for product positioning.
Demand for automation is expected to drive the painting robots market aggressively during the forecast period. Sales of painting robots will skyrocket in the coming years due to the positive impact of Industry 4.0 and the increasing applications of quality management systems to improve operational efficiency and reduce error rate.
Competitive Landscape
The global market for painting robots has been identified as highly consolidated, with the top manufacturers controlling approximately 75-80 percent of the total market. Market participants are vying to expand their global footprints and collaborate directly with end users.
They produce economic solutions and address production issues for their customers by providing speed and scalability through their goods. The major players are also focusing on value-added services in order to build a strong service network.
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Furthermore, to gain a competitive advantage, painting robot manufacturers are adopting key supply trends such as easy integration of robots into customers’ systems, easily programmable robots, and flexible deployment. Dürr AG, ABB Ltd, Kuka AG, Fanuc Corporation, Kawasaki Heavy Industries Ltd, and Yaskawa Global are some of the market’s leading players.
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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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