Wilmington, Delaware , Oct. 08, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Robotics Sanding And Polishing Market by Technology (Surface Polishing, Edge Polishing and Precision Polishing), Distribution Channel (Online Sales, Direct sales and Independent Distributors), Application (Automotive, Electronics, Hardware & Tool, Household Products, Aerospace and Medical Devices): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the robotics sanding and polishing market was valued at $240.5 million in 2023, and is estimated to reach $750.0 million by 2032, growing at a CAGR of 13.5% from 2024 to 2032.
Prime determinants of growth
These robots offer increased productivity, consistency in finish quality, and reduced labor costs. Moreover, the demand for flawless surfaces in end products fuels market expansion. In addition, the integration of AI and IoT further enhances capabilities, fostering the market's growth trajectory.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size in 2023 | $240.5 million |
| Market Size in 2032 | $750.0 million |
| CAGR | 13.5% |
| No. of Pages in Report | 250 |
| Segments covered | Technology, Distribution Channel, Application, and Region |
| Drivers | Increase in demand for automation in manufacturing processes Increase in competition among manufacturers |
| Restraints | High Initial investment |
| Opportunities | Surge in demand for customized surface finishes |
The surface polishing segment to maintain its leadership status throughout the forecast period
Based on technology, the surface polishing segment held the highest market share in 2023, due to the growing demand for high-quality surface finishes in industries such as automotive, aerospace, and electronics. The adoption of robotic solutions enhances precision, consistency, and efficiency while reducing labor costs and time. These factors drive the preference for robotic surface polishing, contributing significantly to its dominant market share.
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The direct sales segment to maintain its leadership status throughout the forecast period
Based on distribution channel, the direct sales segment held the highest market share in 2023, due to factors like direct access to customers, enabling personalized interactions and tailored solutions. This approach allows manufacturers to establish strong relationships, understand customer needs, and provide efficient after-sales support. Moreover, direct sales facilitate quicker decision-making processes and effective communication channels, contributing to higher market share compared to indirect sales channels.
The automotive segment to maintain its leadership status throughout the forecast period
Based on application, the automotive segment held the highest market share in 2023, accounting for more than three-fifths share and is estimated to maintain its leadership status throughout the forecast period, due to the sector's stringent quality standards, driving demand for precise surface finishing. In addition, continuous innovation in automotive manufacturing processes, coupled with the integration of advanced robotic technologies, further solidifies the segment's leadership position, sustaining its growth momentum throughout the forecast period.
Asia-Pacific to maintain its dominance by 2032
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2023, accounting for more than two-fifths share owing to rapid industrialization, particularly in countries like China, Japan, and South Korea. This region witnesses extensive adoption of automation technologies across various industries, including automotive, electronics, and manufacturing, driving the demand for robotic sanding and polishing solutions. In addition, supportive government initiatives and investments in automation further boost the market growth in Asia-Pacific.
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Leading Market Players: -
- ABB Ltd.
- Fanuc Corporation
- KUKA AG
- Yaskawa Electric Corporation
- Kawasaki Heavy Industries, Ltd.
- Comau S.p.A.
- Epson Robots
- Stäubli International AG
- Omron Corporation
- Mitsubishi Electric Corporation
The report provides a detailed analysis of the key players operating in the global robotics sanding and polishing market. These players have adopted different strategies such as product launch, acquisition, agreement and partnership to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." Allied Market Research has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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