Metal Casting Robots Market Size, Share, Growth, and Industry Analysis, By Type (Semi-Automatic, Fully Automatic and Others), By Application (Metal Castings, Automobile Industry, Semiconductor, Aerospace and Others), Regional Insights, and Forecast To 2031

Updated On: 15 April 2024

Metal Casting Robots Market REPORT OVERVIEW

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global metal casting robots market size was USD 7365.1 million in 2022 and market is projected to touch USD 21087.51 million by 2031 at CAGR 12.4% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the metal casting robots market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Metal casting robots can precisely and consistently pour molten metal into moulds, minimising human error and assuring product homogeneity. Metal casting robots were already being used in a variety of sectors due to their productivity, precision, and safety benefits. Metal casting is a manufacturing method that involves pouring molten metal into a mould to form a certain shape. To automate and optimise various elements of metal casting, robots are progressively being integrated into the process. Robot integration in metal casting operations increases productivity, lowers labour costs, and improves overall product quality. However, technology is always improving, and there may be more sophisticated breakthroughs or enhancements in the field of metal casting robots after my last update.

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market

During the COVID-19 pandemic in 2020, the global market experienced significant slowing due to the temporary halt in most industrial activities, particularly those related to construction, manufacturing, industrial solutions and other industries/sectors. However, in 2021, the start of large-scale vaccination efforts eased the lockdown and travel restrictions, allowing manufacturing operations to resume. These factors are projected to boost the market during the forecast period.

LATEST TRENDS

"The Artificial Intelligence and IoT Connectivity to Soar Up Market Potentially"

Metal casting robots are becoming smarter as AI and machine learning algorithms are integrated. These technologies allow robots to adapt and optimise their performance based on real-time data, resulting in increased efficiency, quality, and predictive maintenance.Connecting metal casting robots to the Internet of Things enables real-time monitoring and data collecting, allowing for remote management, predictive maintenance, and continuous process optimisation.

Metal Casting Robots Market SEGMENTATION

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• By Type

Based on type the market is classified as semi-automatic, fully automatic and others.

The part semi-automatic is the leading of the type segment.

• By Application

Based on application the market is classified as metal castings, automobile industry, semiconductor, aerospace and others.

The part metal casting is the leading part of the application segment.

DRIVING FACTORS

"Rising Robot-Based Automation to Reinforce the Market Growth "

Collaborative robots, or cobots, are intended to work securely alongside human operators. These robots can help employees handle large moulds, load and unload parts, and perform delicate operations that need human skill in the context of metal casting. Metal items frequently require deburring and finishing after casting to eliminate superfluous material and improve surface quality. These duties can be handled efficiently by robots equipped with the necessary tools. Robots equipped with modern sensors and visual systems may inspect cast pieces for flaws and guarantee they satisfy quality standards. Robots can handle and stack the finished cast pieces for additional processing or transportation.

"Green, Sustainable and Hybrid Casting System to Witness Tremendous Market Growth"

Eco-friendly casting techniques, such as employing more sustainable materials, lowering energy use, and reusing waste materials, are becoming increasingly important. Robots can help to optimise these operations for the least amount of environmental effect. Some industries are implementing hybrid methods that combine traditional metal casting with other manufacturing processes such as forging or machining. Robots are utilised to seamlessly shift between various processes.

RESTRAINING FACTORS

"Initial Set-Up Cost and Design Limitations to Obstruct the Market Growth"

While metal casting technologies provide numerous advantages, there are also limitations and obstacles to be aware of. Setting up a metal casting system can necessitate large initial investments in equipment, moulds, furnaces, and safety precautions. These expenditures may be too expensive for small-scale firms or startups.Due to mould design limits, many complicated or complex geometries may be difficult to create by metal casting. Undercuts, narrow walls, and intricate interior features can all complicate the casting process. As a result, the cost factor and the limitations with the design are projected to impede the metal casting robots market growth over the forecast period.

Metal Casting Robots Market REGIONAL INSIGHTS

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"Asia Pacific Region to Dominate the Market with Major Production and Multiplying Manufacturers"

By 2029, the Asia Pacific market for Metal Casting Robots is predicted to grow faster than the rest of the world. As a result of the significant FDI cash inflow in the automotive industry, rise in the middle class, and young population, many multinational firms have boosted their investments in countries such as India, China, Malaysia, and Vietnam, among others. Several automakers have begun investing heavily in various aspects of the industry in recent months in order to meet rising demand. The industry attracted US$ 25.40 billion in foreign direct investment (FDI) between April 2000 and December 2021, according to data provided by the Department for Promotion of Industry and Internal Trade. (DPIIT). All these factors combined are significantly contributing in the region’s growth for metal casting robots market share.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The market is highly competitive, with both international and domestic players. Major players are involved in the launch of new and improved products, collaborations, mergers and acquisitions, joint ventures, and other tactics. The research is an in-depth examination of a list of market participants who promote market growth. The data is a compilation of the most recent manufacturing industry trends, mergers and acquisitions, market research, and technology breakthroughs. To comprehend market share, product growth, revenue growth, and other variables over the forecast period, additional criteria such as regional and segmental analysis are considered.

List of Market Players Profiled

• FANUC (Japan)
• KUKA (Germany)
• Yaskawa (Japan)
• ABB (Switzerland)
• Kawasaki Heavy Industries (Japan)
• Nachi Robotic Systems (U.S.A)
• Shanghai STEP Electric Corporation (China)
• EFORT Intelligent Equipment (China)
• Universal Robotics (Denmark).

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of a number of factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions.