New York, NY, Feb. 22, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Robotic Cutting, Deburring, and Finishing Market by Product Type (6 Axis and 7 Axis and 3 Axis to 5 Axis), By Robot Type (Articulated Robots, SCARA Robots, Parallel Robots, Cartesian Robots, and Other Robots), By Process Type (Cutting, Finishing, Deburring, and Grinding), By Installation Type (New, Replacement, and Retrofit) For Application (Automotive Industry, Metal Industry, Electronics Industry, Chemicals and Plastics Industry, and Others): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2024”.
According to the report, the global robotic cutting, deburring, and finishing (CDF) market was valued at around USD 500 million in the year 2016 and it is expected to reach more than USD 1,300 million by 2024. The global robotic cutting, deburring, and finishing market is expected to exhibit a CAGR of more than 13% between 2017 and 2024.
Browse through 8 Tables & 20 Figures spread over 150 Pages and in-depth TOC on "Global Robotic Cutting, Deburring, and Finishing Market Research Report and Forecast 2016 – 2022”.
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Market Report Highlights
- Increasing human labor costs and aging labor are expected to drive the growth of Global Robotic Cutting, Deburring, and Finishing Market
- Increasing adoption of automation and artificial intelligence in manufacturing process across different industries is expected to boost the demand for CDF robots
- Emerging economies such as China, Brazil, and India are expected to experience a significant market growth owing to increasing investment in manufacturing industries
- CDF Robots with up to 5-axis have leading share, however, 6-axis and 7-axis CDF robots are gaining more traction owing to their multitasking skills, dynamic approaches, and competence to mimic complex movements such as human hand, arm, and wrist among others
- Due to their versatility, adaptability, and a large work envelope, Articulated CDF robots are the most widely adopted CDF robot type
- CDF robots are widely used for cutting process since it improves precision, accuracy, speed and reduces errors and material waste during operations
- New installations of CDF Robots dominate the market, however, retrofitting of CDF robots would be in huge demand since it facilitates cost-effective installation of specialized tools rather than making a purchase of altogether new CDF Robot
- Automotive industry is the leading application segment of CDF robots since they provide superior rate of production and quality over traditional manufacturing processes prevalent in the industry
- The Asia Pacific holds the dominant position in the Global Robotic Cutting, Deburring, and Finishing Market with more than 60% share in 2016
- China, Japan, and South Korea are the leading countries in the Global Robotic Cutting, Deburring, and Finishing Market in the Asia Pacific
- North America and Europe together constitute for more than 35% share of the Global Robotic Cutting, Deburring, and Finishing Market in terms of volume
- Increasing adoption of CNC machines and threat of loss of jobs are expected to affect the market growth negatively
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The major factors that will boost the growth of the robotic cutting, deburring, and finishing market are increasing human labor costs and aging labor, rising need for precision and sequential output in manufacturing coupled with growing awareness and adoption of AI and automation in manufacturing and other industries.
According to the analysts and insights shared by industry experts during primary research, rising need for precision and sequential output in manufacturing is expected to provide ample opportunities for Global Robotic Cutting, Deburring, and Finishing Market during the forecast period.
Browse the full " Robotic Cutting, Deburring, and Finishing Market by Product Type (6 Axis and 7 Axis and 3 Axis to 5 Axis), By Robot Type (Articulated Robots, SCARA Robots, Parallel Robots, Cartesian Robots, and Other Robots), By Process Type (Cutting, Finishing, Deburring, and Grinding), By Installation Type (New, Replacement, and Retrofit) For Application (Automotive Industry, Metal Industry, Electronics Industry, Chemicals and Plastics Industry, and Others): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2024" report at https://www.zionmarketresearch.com/report/data-quality-tools-market
In the product type segment, CDF Robots with up to 5-axis hold major share. CDF robots with up to 5-axis have numerous applications including manufacturing and other industrial functions. Cost of these types of CDF robots is lower as compared to other CDF robots with a higher number of axes. However, multitasking ability and robust capabilities to do advanced and complicated jobs have boosted the demand for 6-axis and 7-axis CDF robots since they could imitate complex movements coupled with convoluted 360-degree movements. 6-axis and 7-axis CDF robots segment are expected to grow at highest CAGR of more than 25% from 2017 to 2024. Most of the leading manufacturers are focusing on innovating and developing 6-axis and 7-axis CDF robots to capitalize on the growing trend of demand for 6-axis and 7-axis CDF robots.
Many types of CDF robots are required in many of the applications to ensure the accuracy, precision, and repeatability of processes and operations in various industries. Among them, the product type that is dominating the market is the articulated CDF robots. Around 8,000 units of articulated CDF robots were ordered in 2016 across the globe. Articulated robotic systems usually have four to six axes, but could also have up to 10. This type of robots has more degrees of freedom than any other robots on the market, which provides the end-user more versatility, adaptability, and makes them more appealing. Articulated CDF robots can be used for several different applications and have a large work envelope which has boosted its demand across different industries. Due to its popularity and longevity, articulated CDF robot systems are plummeting in price, making them more affordable which would further boost its demand across the globe during the forecast period.
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The market is developing at a rapid rate in the developing regions. The major market share for the Robotic Cutting, Deburring, and Finishing market was contributed by the Asia Pacific. The Asia Pacific dominates the market which is followed by Europe. There is a rising awareness in the Asia Pacific regarding the benefits of CDF robots in the manufacturing process of various industries such as automotive, metals, electronics, chemicals, and plastics industry among others. All these factors have boosted the demand for CDF robots in the region. As the prices of CDF robots are expected to fall in years to come, the adoption rate of CDF robots is expected to increase in this region. China, Japan, and South Korea are some of the leading countries in the Asia Pacific to adopt CDF robots.
The major market players in the Robotic Cutting, Deburring, and Finishing market are ABB, FANUC, Kawasaki Heavy Industries, and KUKA among others.
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Global Robotic Cutting, Deburring, and Finishing Market: Product Type Segment Analysis
- 6-Axis and 7-Axis
- 3-Axis to 5-Axis
Global Robotic Cutting, Deburring, and Finishing Market: Robot Type Segment Analysis
- Articulated Robots
- SCARA Robots
- Parallel Robots
- Cartesian Robots
- Other Robots
Global Robotic Cutting, Deburring, and Finishing Market: Process Type Segment Analysis
- Cutting
- Finishing
- Deburring
- Grinding
Global Robotic Cutting, Deburring, and Finishing Market: Installation Type Segment Analysis
- New
- Replacement
- Retrofit
Global Robotic Cutting, Deburring, and Finishing Market: Application Segment Analysis
- Automotive Industry
- Metal Industry
- Electronics Industry
- Chemicals and Plastics Industry
- Other Industries
Global Robotic Cutting, Deburring, and Finishing Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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