Published Date : Feb 13, 2017
ALBANY, NY, Feb 13, 2017: The research study on report, titled “Global Robotic Paint Booth Market 2017-2021” provides a detailed insight into drivers and restraints, current market trends, emerging technological landscape, strategic dynamics, and key offerings of market players. The reports covers the impact of major dynamics on the competitive landscape scenario and the prominent strategies adopted by them to consolidate their presence across major regions. The report provides current and estimated market share and size of the key segments and makes an elaborate assessment of the factors likely to stir up the demand for robotic paint booths in various end-use industries, particularly the automotive industry.
The research study tracks the recent developments related to automation in technology. Modernization of existing manufacturing facilities that are expected to boost the global robotic paint booth market are highlighted in the study. The global robotic paint booth market is forecast to rise at a CAGR of 4.93% from 2017 to 2021.
Productivity improvements in discrete manufacturing, demand for automated technologies in the production line to streamline the processes, and increased focus on safety of industrial workers are expected to drive the growth of the robotic paint booth market. Optimum finish quality attained with the help of robotic paint systems along with significant reduction in costs—direct as well as overhead—are crucial factors fuelling the market growth. Furthermore, the increased adoption of automated paint technologies among manufacturers to enhance operational efficiency has stimulated the demand for robotic paint booths.
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However, the growth of the market is likely to be restrained by various operational challenges faced by the end users to implement robotic paint booth systems. On the other hand, the advanced features incorporated by the manufacturers and a variety of customization options for the end users are anticipated to create ample growth opportunities for the vendors.
The Asia Pacific region is rapidly emerging as the most lucrative avenue for the market players to capitalize on. The region is estimated to witness significant market growth along the forecast period. The growth is attributed to technological advancements in the automotive industry and considerable modernizing initiatives for different manufacturing units, coupled with ceaseless demand for automation technologies in major countries, such as India, South Korea, China, Taiwan, and Indonesia.
Key vendors are actively focusing on delivering a wide spectrum of innovative solutions to garner a competitive edge in the robotic paint booth market. Prominent market players profiled in the report include ABB, Durr, FANUC, Yaskawa, and Eisenmann.
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