PUBLISHER: Allied Market Research | PRODUCT CODE: 1414747
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414747
According to a new report published by Allied Market Research, titled, "Fiberglass Cutting Robots Market," The fiberglass cutting robots market was valued at $19 million in 2022, and is estimated to reach $40.8 million by 2032, growing at a CAGR of 8.1% from 2023 to 2032.
Increase in demand for fiberglass and the need for automation in non-conventional areas, such as
1) micro-electronics, aerospace, and marine have fostered the market growth. Hence, an auxiliary channel utilizing fiberglass cutting robots has surfaced in recent years. The manufacturing sector drives the demand for fiberglass cutting robots. The global fiberglass cutting robots market is impacted by several factors such as
1) usage of fiberglass cutting robots in the manufacturing industry, increase in demand for automation activities in the industry, reduction in custom duties, and the evolving robotics & AI industry.
Rapid changes in the factors, such as
1) industrial growth, consumer preference, wireless technologies, and others, have resulted in continuous improvements in specifications and features of fiberglass cutting robots. Funding from various private and government organizations to support R&D drives the fiberglass cutting robots market growth.
Furthermore, initial investment and maintenance costs of employing robotics systems are high due to the integration of high-quality hardware coupled with efficient software control systems. The high cost of fiberglass cutting robots solutions is a major restraint for the market growth.
The report provides the market share analysis of the industry participants. The key players have also been profiled along with company overview, financial overview, business strategies, SWOT analysis, and recent developments in the field of fiberglass cutting robots. The major market participants profiled in this report include KUKA Robotics, Denso, Fanuc, Mitsubishi, and Universal Robots.
The fiberglass cutting robots market is segmented into product type, application, payload, reach, and region. By product type, the market is classified into 3-axis to 5-axis robots and 6-axis to 7-axis robots. By application, the market is divided into construction, automotive and transportation, pipe and tank, wind energy, and other. By payload, the market is divided into light, medium, and heavy. By reach, the market is divided into up to 2000 mm and more than 2000 mm.
Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
In 2022, Asia-Pacific was the key shareholder in the market; however, LAMEA is anticipated to secure a leading position during the forecast period.
Emerging economies in Asia-Pacific and LAMEA have adopted fiberglass cutting robots solutions for various professional uses, which is expected to facilitate faster growth in terms of efficiency. Such factors are expected to offer numerous opportunities for the market growth during the forecast period.
COMPETITION ANALYSIS
The key companies profiled in the fiberglass cutting robots market report include ABB, Comau, Daihen Corporation Co., Ltd., Denso Corporation, Fanuc Corporation, Seiko Epson Corporation, Kawasaki Heavy Industries, Ltd., KUKA AG, Universal Robots A/S, and Yaskawa Electric Corporation.
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