Foundry and Forging Robots Market: Introduction
- A foundry is a factory which manufactures metal castings. Various metals such as aluminum, cast iron, steel, magnesium, and zinc are used for castings. Forge is a type of hearth used for heating metals or it refers to a workplace where such a hearth is located.
- Forging and foundry robots can withstand heat, pollution, and noise as they are designed to work in hot and hazardous environments. In addition, robots can withstand dust, exposure to chemicals, and high pressure arrays. It automates entire forging processes and thus increases productivity, availability of products, and efficiency.
- Forging and foundry robots can perform various functions such as die casting, gravity casting, sand casting, finishing, chemical cleaning or water cleaning, and forging. In addition, flexible positioning capabilities and responsive software programming allows foundry and forging robots to be redeployed to handle different objectives for production.
Growing industrialization and increasing focus on quality products with low cost
- Increasing industrialization in developing economies is creating demand for metal components. This in turn increases the demand for forging robots as it can reduce the production cost and offer high efficiency. In addition, a growing manufacturing sector in economies such as China and India is increasing the adoption of industrial robots.
- Foundry operators are competing on the cost of production for ferrous and non-ferrous metal castings in developing economies. Therefore, adoption of heat resistant robots is increasing, which can withstand harsh environments and handle heavy work pieces.
Costs associated with installation of foundry and forging robots
- The cost of installation of foundry as well as forging robots is high. The high maintenance charges, and cost of manufacturing of robots may affect the market growth in developing economies. Also, the presence of cheap labor in developing economies can impact the installation of forging and foundry robots. However, developed countries are increasingly investing in automation.
Maximum Growth to be observed in the Asia Pacific Market
- In terms of region, the global foundry and forging robots market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- The foundry and forging robots market in Asia Pacific is anticipated to expand at the maximum CAGR during the forecast period.
- This growth is attributed to a wide range of applications in automobile, and other industries, adoption of advanced technologies in countries such as Japan, Taiwan, and China, and increasing investment in automation and rising industrialization. These factors are expected to increase the demand for foundry and forging robots.
- The foundry and forging robots market in North America and Europe is also likely to witness high growth rate due to increasing competition among players and focus on cost of production. The market in Middle East & Africa is projected to show slow growth rate.
Key Players in the Global Market
The global foundry and forging robots market was highly concentrated. Prominent players operating in the global market are focusing on product launch and technological developments to meet the growing demand.
Key players operating in the global foundry and forging robots market include:
Global Foundry and Forging Robots Market: Research Scope
Global Foundry and Forging Robots Market, by Type
- Electric Drive Robots
- Hydraulic Robots.
Global Foundry and Forging Robots Market, by Application
- Automotive Industry
- Metal Foundry Industry
- Semiconductor Foundry Industry
Global Foundry and Forging Robots Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.