Press release
What will be the upcoming growth in the Foundry And Forging Robots market?
Foundry And Forging Robots
A foundry is a factory which manufactures metal castings. Various metals such as aluminum, cast iron, steel, magnesium, and zinc are used for castings. Forge is a type of hearth used for heating metals or it refers to a workplace where such a hearth is located.
Forging and foundry robots can withstand heat, pollution, and noise as they are designed to work in hot and hazardous environments. In addition, robots can withstand dust, exposure to chemicals, and high pressure arrays. It automates entire forging processes and thus increases productivity, availability of products, and efficiency.
Forging and foundry robots can perform various functions such as die casting, gravity casting, sand casting, finishing, chemical cleaning or water cleaning, and forging. In addition, flexible positioning capabilities and responsive software programming allows foundry and forging robots to be redeployed to handle different objectives for production.
Growing industrialization and increasing focus on quality products with low cost
Increasing industrialization in developing economies is creating demand for metal components. This in turn increases the demand for forging robots as it can reduce the production cost and offer high efficiency. In addition, a growing manufacturing sector in economies such as China and India is increasing the adoption of industrial robots.
Foundry operators are competing on the cost of production for ferrous and non-ferrous metal castings in developing economies. Therefore, adoption of heat resistant robots is increasing, which can withstand harsh environments and handle heavy work pieces.
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Costs associated with installation of foundry and forging robots
The cost of installation of foundry as well as forging robots is high. The high maintenance charges, and cost of manufacturing of robots may affect the market growth in developing economies. Also, the presence of cheap labor in developing economies can impact the installation of forging and foundry robots. However, developed countries are increasingly investing in automation.
Maximum Growth to be observed in the Asia Pacific Market
In terms of region, the global foundry and forging robots market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
The foundry and forging robots market in Asia Pacific is anticipated to expand at the maximum CAGR during the forecast period.
This growth is attributed to a wide range of applications in automobile, and other industries, adoption of advanced technologies in countries such as Japan, Taiwan, and China, and increasing investment in automation and rising industrialization. These factors are expected to increase the demand for foundry and forging robots.
The foundry and forging robots market in North America and Europe is also likely to witness high growth rate due to increasing competition among players and focus on cost of production. The market in Middle East & Africa is projected to show slow growth rate.
Key Players in the Global Market
The global foundry and forging robots market was highly concentrated. Prominent players operating in the global market are focusing on product launch and technological developments to meet the growing demand.
Key players operating in the global foundry and forging robots market include:
Motoman
Fanuc
KUKA
ABB
Global Foundry and Forging Robots Market: Research Scope
Global Foundry and Forging Robots Market, by Type
Electric Drive Robots
Hydraulic Robots.
Others
Global Foundry and Forging Robots Market, by Application
Automotive Industry
Metal Foundry Industry
Semiconductor Foundry Industry
Others
Global Foundry and Forging Robots Market, by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Russia & CIS
Rest of Europe
Asia Pacific
China
Japan
India
ASEAN
Rest of Asia Pacific
South America
Brazil
Mexico
Rest of South America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
Customer Experience Maps
Insights and Tools based on data-driven research
Actionable Results to meet all the business priorities
Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
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The following regional segments are covered comprehensively:
North America
Asia Pacific
Europe
Latin America
The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
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