Global metal casting robots market is anticipated to witness an exponential growth in the forecast period. Metal casting robots render work-related protection. Metals are used in different forms. Metal castings are required to mold metals into varied sizes and shapes as per the requirements. Heavy equipment and transportation account for most of the molding products.
The factors that propel the growth of the market include advantages over conventional metal casting methods, technological advancement to lessen the incorporation of metal casting robots, increased preference for metal casting robots, and increasing acceptance of X-ray casting defect recognition rises productivity.
On the other hand, there are factors that may hamper the growth of the market including high initial investment, and high energy consuming technology rises overall manufacturing costs. Metal casting robots market is anticipated to expand at a significant CAGR of 14% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Get Sample Copy of this Report @
The advantage over traditional metal casting producers is an emerging trend in the market. The technological innovations ease the integration of metal casting robots. Besides, technical inventions do ease integration of metal casting robots through several methods such as off-line programming, virtual commissioning and simulation.
Metal casting robots market could be explored by type, application, and geography. Market could be explored by type as Fully Automatic and Semi-Automatic. The “Fully Automatic” segment led the market in 2017 and will continue to lead in the forecast period. The key application that could be explored in the market include Automobile Industry, Metal Casting, Aerospace, Semiconductor and Other.
APAC accounted for the major share of the market in 2017 and will continue to lead in the forecast period. The factors that could be attributed to growth include the presence of power, construction, chemicals, oil and gas, and other manufacturing segments, and technological advancement in the region.
Some of the key players that fuel the growth of the metal casting robots market comprise Berkshire Hathaway (Precision Castparts), Alcoa, Dynacast, Buhler, TOSHIBA MACHINE and ThyssenKrupp. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
Browse Related Category Market Reports @
Comments