The global robotic welding market size is expected to gain momentum by reaching USD 8.31 billion by 2027 while exhibiting a CAGR of 7.6% between 2020 and 2027. This is attributable to the increasing adoption of automation in the manufacturing process that propels the demand for advanced robotic welding machines across the globe.
This information is published by Fortune Business Insights, in its latest report, titled, “Robotic Welding Market Size, Share & COVID-19 Impact Analysis, By Type (Arc, Spot, MIG/TIG, Laser, Others (Plasma etc.)), By Payload Capacity (Low (6-22 kg), Medium (30-60 kg), High (80-300kg)) By Industry (Automotive, Aerospace & Defense, Construction, Mining, Railway & Shipbuilding, Electrical & Electronics, Others) and Regional Forecast, 2020-2027.”
The report further observes that the market stood at USD 4.66 billion in 2019 and is likely to experience significant growth in the forthcoming years.