Portland, OR, Aug. 02, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global robotic paint booth market generated $3.09 billion in 2021, and is projected to reach $10.68 billion by 2031, growing at a CAGR of 12.7% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $3.09 billion |
| Market Size in 2031 | $10.68 billion |
| CAGR | 12.7% |
| No. of Pages in Report | 315 |
| Segments covered | Type, sales type, robot type, end-user industry, and region |
| Drivers | Increase in the adoption of management tools |
| Rapid industrialization | |
| Opportunities | Growth of the automotive industry |
| Extensive applications in aeronautics and defense | |
| Restrains | Hugh installation costs |
| High maintenance costs of paint booths |
COVID-19 Scenario:
- The outbreak of COVID-19 has had a negative impact on the growth of the global robotic paint booth market, owing to the occurrence of lockdowns in various countries across the globe. Lockdowns resulted in the closure of various manufacturing facilities including those of robotic paint booth. This, in turn, adversely decreased the demand.
- These restrictions on eliminating or limiting workforce and overall factory operations were mainly due to the stringent restrictions imposed by the governments to curb the spread of the virus during the pandemic.
- Thus, the robotic paint booth market is expected to focus on protecting its workforce, operations, and supply chains to respond toward immediate crises and find new ways of working post COVID-19 pandemic.
- In addition, ban on import and export of raw materials further aggravated the growth of the market. However, the market is expected to recoup soon.
The report offers a detailed segmentation on the global robotic paint booth market based on type, sales type, robot type, end-user industry and region.
Based on type, the 6 axis segment is expected to cite the fastest CAGR of 13.5% during the forecast period. The report also offers analysis of segments such as 4 axis and others.
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Based on sales type, the hardware segment held the largest market share in 2021, holding nearly four-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The service segment, on the other hand, is predicted to cite the fastest CAGR of 13.1% during the forecast period.
Based on robot type, the traditional industrial robots segment held the dominating market share in 2021, holding more than 94% of the global market, and is expected to maintain its leadership status during the forecast period. The collaborative robots segment, on the other hand, is predicted to cite the fastest CAGR of 13.5% during the forecast period.
Based on end-user industry, the aviation segment is expected to cite the fastest CAGR of 13.6% during the forecast period. The report also offers analysis of segments including automotive and others.
Based on region, the market across Asia-Pacific region held the largest market share in 2021, garnering more than half of the global market, and is expected to maintain its leadership status during the forecast period. The LAMEA region, on the other hand, is predicted to cite the fastest CAGR of 14.2% during the forecast period. The report also offers analysis of other regions such as Europe and North America.
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Top Players:
The key players analyzed in the global robot paint booth market report include Kawasaki Heavy Industries Ltd., KUKA Aktiengesellschaft, Staubli International AG, BB, CMA Robotics Spa, Durr AG, Epistolio Robot, Fanuc America Corporation, Graco Inc., Eisemann Inc., Giffin Inc., Junair, Fanuc Automation, and Varnish.Tech S.r.l, Yaskawa Electric Corporation., Fujitronics KK, Crocodile Paint Booth.
The report analyzes these key players of the global robotic paint booth market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players of the market.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR 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.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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