Foundry and Forging Robots Market by Type (Electric Drive Robots, Hydraulic Robots, and Others), Application (Automotive Industry, Metal Foundry Industry, Semiconductor Foundry Industry, and Others), and Region 2024-2032

Foundry and Forging Robots Market by Type (Electric Drive Robots, Hydraulic Robots, and Others), Application (Automotive Industry, Metal Foundry Industry, Semiconductor Foundry Industry, and Others), and Region 2024-2032

The global foundry and forging robots market size reached US$ 275.4 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 475.0 Million by 2032, exhibiting a growth rate (CAGR) of 6.06% during 2024-2032. The escalating demand to produce premium quality products involving lower operational costs, the rising complexity of numerous foundry and forge applications, and the increasing adoption of the six-sigma in manufacturing processes represent some of the key factors driving the market

Foundry is a type of factory where metal castings are made from a variety of metals while forging refers to a manufacturing process of giving desired shapes to the heated metal by using compressive forces. Forging and foundry robots refer to the technology that automates entire forging processes and thus increases productivity, availability of products, and efficiency. These robots are made to operate in hot and dangerous conditions so they can tolerate heat, pollution, and noise. Robots are specifically designed to endure exposure to toxic chemicals, high pressure environments, and dust, and do the job precisely. As it is a physically challenging job in a harsh environment, it is less desirable for human operation. Using these robots provides several advantages, such as a reduction in operational costs, no additional expenditures on training and healthcare, and enhanced worker safety. Forging and foundry robots can perform various functions, such as die casting, gravity casting, sand casting, finishing, chemical cleaning or water cleaning, and forging.

Foundry and Forging Robots Market Trends:
The escalating demand to produce premium quality products involving lower operational costs, particularly in the developing economies, is a significant factor driving the market growth. This can be attributed to the rapid industrialization resulting in the growing need for metal components. In line with this, with continual technological advancements, the complexity of numerous foundry and forge applications is increasing, which, in turn, is providing an impetus to the market. Additionally, numerous product innovations, such as responsive software programming, integration of artificial intelligence (AI), and flexible positioning and point precision, are creating lucrative growth opportunities in the market. Besides this, the increasing adoption of the six-sigma in the production process in various manufacturing facilities is resulting in a higher product uptake in industrial operations. However, the high cost associated with the installation and maintenance of foundry and forging robots is a major factor that is hindering the growth of the market. Conversely, fierce competition among the foundry operators on the production cost of ferrous and non-ferrous metal castings, leading to the augmenting demand for heavy-duty and heat-resistant robots, is fueling the market. Some of the other factors contributing to the market include rapid industrialization, inflating disposable income levels, considerable growth in the semiconductor industry and extensive research and development (R&D) activities.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global foundry and forging robots market, along with forecasts at the global, regional, and country level from 2024-2032. Our report has categorized the market based on type and application.

Type Insights

Electric Drive Robots
Hydraulic Robots
Others

The report has provided a detailed breakup and analysis of the foundry and forging robots market based on the type. This includes electric drive robots, hydraulic robots, and others. According to the report, electric drive robots represented the largest segment.

Application Insights

Automotive Industry
Metal Foundry Industry
Semiconductor Foundry Industry
Others

A detailed breakup and analysis of the foundry and forging robots market based on the application has also been provided in the report. This includes automotive industry, metal foundry industry, semiconductor foundry industry, and others. According to the report, metal foundry industry accounted for the largest market share.

Regional Insights:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, North America was the largest market for foundry and forging robots. Some of the factors driving the North America foundry and forging robots market include fierce competition among the key players on the production cost of ferrous and non-ferrous metal castings, numerous product innovations, rapid industrialization, etc.

Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global foundry and forging robots market. Detailed profiles of all major companies have also been provided. Some of the companies covered include ABB Ltd., BGR NEO Limited (BGR Group), Difacto Robotics and Automation Pvt. Ltd., Fanuc America Corporation (FANUC Corporation), irobotics GmbH, Kawasaki Heavy Industries Ltd., Kruger Industrieautomation GmbH, KUKA AG, Yaskawa America Inc. (Yaskawa Electric Corporation), etc.

Key Questions Answered in This Report:
How has the global foundry and forging robots market performed so far and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global foundry and forging robots market?
What are the key regional markets?
Which countries represent the most attractive foundry and forging robots markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the application?
What is the competitive structure of the global foundry and forging robots market?
Who are the key players/companies in the global foundry and forging robots market?