Global Painting Robots Market Analysis & Industry Forecast 2016-2023, With an Expected CAGR of 10.4% - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jul 9, 2018--The “Painting Robots Market by Type, Application, and End User - Global Opportunity Analysis and Industry Forecast, 2016-2023” report has been added to ResearchAndMarkets.com’s offering.
The painting robots market accounted for $1,614.0 million in 2016, and is expected to reach $3,209.0 million by 2023, growing at a CAGR of 10.4% from 2017 to 2023.
Painting robots are used for painting and are programed to apply paint material or coating on an object in an efficient way. The demand for painting robots has increased in the automotive industry as these robots apply paint in a consistent way without wasting materials in optimized time. In addition, it reduces the requirement of highly skilled painters and paints large parts with more accuracy. These factors increase the demand for painting robots in the market. However, high product and installation cost restricts the market growth.
The automotive segment secured the highest share of 51.4% in the painting robots market in 2016 and it is expected to grow at a CAGR of 9.3% during the forecast period. In terms of applications, interior painting segment is expected to contribute the highest market share in the coming years, as these robots have wide demand for interior painting in automotive, machinery, aerospace, construction, metal, and plastic industries.
Asia-Pacific is anticipated to dominate the painting robots market during the forecast period, owing to the presence of key companies and strong manufacturing base of widely growing automotive sector. Moreover, Europe and North America are expected to witness moderate growth in the painting robots market during the forecast period.
Companies Mentioned:Kawasaki Robotics ABB Durr Systems Fanuc Yaskawa Kuka Robotics CMA Robotics Staubli Epistolio S.r.l Krautzberger
Key Topics Covered:
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Painting Robots Market, By Type
Chapter 5: Paiting Robots Market, By Application
Chapter 6: Painting Robots Market, By End User
Chapter 7: Painting Robots Market, By Region
Chapter 8: Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/x7v5n2/global_painting?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180709005331/en/
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SOURCE: Research and Markets
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PUB: 07/09/2018 05:08 AM/DISC: 07/09/2018 05:08 AM