Foundry Robots Market Size

Foundry Robots Market size is projected to grow at around 5.1% CAGR during the forecast period i.e., between 2024-2036. The growth of the market can be attributed largely to the rapidly growing industrialization in emerging economies, coupled with rising output of manufacturing sector in those nations. According to the Center for International Knowledge on Development, China, the country’s industry added value reached USD 4,742.99 billion in 2018, which is 56.7 times that of 1978. Along with this, increasing demand for foundry robots as they can reduce production cost while offering high efficiency is also expected to drive market growth in the upcoming years. Furthermore, escalating adoption of robots in industries ascribing to their ability to withstand harsh environments and handle heavy work pieces is projected to offer profitable opportunities to the foundry robots market in the near future.