Global Foundry and Forging Robots Market to Reach US$ 475.0 Million by 2032, Fostered by Escalating Demand for Premium Quality Products

April 03, 2023 | Heavy Industry

According to the latest report by IMARC Group, titled "Foundry and Forging Robots Market by Type (Electric Drive Robots, Hydraulic Robots, and Others), Application (Automotive Industry, Metal Foundry Industry, Semiconductor Foundry Industry, and Others), and Region 2024-2032," the global foundry and forging robots market size reached US$ 275.4 Million in 2023. Foundry and forging robots are advanced robotic systems designed to automate the manufacturing process in foundry and forging industry. They are equipped with specialized end-effectors, such as tongs and ladles, to handle molten metal safely and efficiently. They can withstand heat, pollution, and noise as they are designed to work in hot and hazardous environments. Additionally, these robots can withstand dust, exposure to chemicals, and high-pressure arrays. They automate entire forging processes and thus increase productivity, availability of products, and efficiency. They are essential in improving the safety, productivity, and efficiency of manufacturing processes in foundries and forging industries. They also help to reduce the need for manual labor, improve product quality, and increase overall profitability. As a result, they are typically used in applications, including pouring, ladling, and delegating, which are labor-intensive tasks that require precision and accuracy.

Global Foundry and Forging Robots Market Trends:

The growing adaptation of the six-sigma during the production process to reduce the production cost, improve efficiency, minimize waste products, timeliness, and accuracy is creating a positive outlook in the global market. Moreover, the increasing demand for quality products at a cheap rate in developing countries is significantly supporting the market across the globe. In line with this, the rising demand for automation as it helps leading manufacturers to increase efficiency and productivity, thus turning to automation technologies, such as robots to automate their production processes, which, in turn, is propelling the market. Additionally, the development of advanced robotics technologies, including machine learning, artificial intelligence, and sensor technology, is making robots more capable and versatile, thereby providing a boost to the demand. Furthermore, the growing demand for metal products, such as automotive parts, aerospace components, and construction materials, is augmenting the need for increased production in foundry and forging facilities. Other factors, such as rapid industrialization, considerable growth in the semiconductor industry, and extensive research and development (R&D) activities, are projected to propel the market further. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 475.0 Million by 2032, exhibiting a growth rate (CAGR) of 6.06% during 2024-2032.

Market Summary:

  • On the basis of the type insights, the market has been divided into electric drive, hydraulic, and other robots. Currently, electric drive robots represented the largest market segment.
  • Based on the application insights, the market has been segmented into the automotive, metal foundry, semiconductor foundry, and other industries. Among these, metal foundry exhibits a clear dominance in the market.
  • On the basis of the regional insights, the market has been categorized into North America (the United States, and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. Presently, North America holds the leading position in the market.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include ABB Ltd., BGR NEO Limited (BGR Group), Difacto Robotics and Automation Pvt. Ltd., Fanuc America Corporation (FANUC Corporation), irobotics GmbH, Kawasaki Heavy Industries Ltd., Kruger Industrieautomation GmbH, KUKA AG and Yaskawa America Inc. (Yaskawa Electric Corporation).

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Types Covered Electric Drive Robots, Hydraulic Robots, Others
Applications Covered Automotive Industry, Metal Foundry Industry, Semiconductor Foundry Industry, Others
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered ABB Ltd., BGR NEO Limited (BGR Group), Difacto Robotics and Automation Pvt. Ltd., Fanuc America Corporation (FANUC Corporation), irobotics GmbH, Kawasaki Heavy Industries Ltd., Kruger Industrieautomation GmbH, KUKA AG, Yaskawa America Inc. (Yaskawa Electric Corporation), etc.
Customization Scope 10% Free Customization
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Global Foundry and Forging Robots Market to Reach US$ 475.0 Million by 2032, Fostered by Escalating Demand for Premium Quality Products
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