Robotic Welding Market Size

Robotic Welding Market size was over USD 8.41 billion in 2023 and is anticipated to reach USD 28.35 billion by 2036, growing at around 9.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of robotic welding is estimated at USD 9.07 billion. The growth of the market can be attributed to the technological advancement and new breakthroughs in robotics and automation technology, along with growing adoption of robots in industrial application. Use of robots reduces the risk of workplace accidents, which is estimated to primarily drive the market growth. According to the International Labor Organization (ILO), 2.3 million work-related accidents or diseases occur every year around the world. Welding is a high-risk work, which requires accuracy and precision. This is easier to achieve through automation. Such factors are estimated to boost the market growth. The up-surge in industrial IoT is further projected to promote the market growth.