May 11, 2022
According to the recent research report titled ‘Global Industrial Assembly Equipment Market (2021 Edition) - Analysis by Type (Fastening Equipment, Assembly Equipment), End User, By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)’ available with MarketStudyReport, global industrial assembly equipment market was valued at USD 136.25 billion in 2020 and is expected to garner substantial gains by 2026.
The global industrial assembly equipment market growth is predominantly driven by factors such as increasing demand for energy due to the rapid expansion of SMEs, increasing number of manufacturing facilities for automobiles and consumer electronics, and growing demand for automated solutions while manufacturing products.
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The marketplace is segmented on the basis of type, end-user spectrum, and regional analysis.
By type, global industrial assembly equipment industry is divided into assembly equipment and fastening equipment segments. The assembly equipment segment has grown at a significant rate in recent years and is expected to continue to do so during the analysis period, primarily due to the crucial function of assembly robots during the assembling and manufacturing process. The demand for industrial assembly equipment is expected to grow as government laws in various regions become more stringent.
In terms of the end-user landscape, the market is divided into consumer electronics, automobiles, food & beverage, and others. The automobile segment is poised to capture a prominent market share during the forecast duration. Meanwhile, the consumer electronics segment is anticipated to have robust growth in terms of revenue in the ensuing years.
The regional landscape of the global industrial equipment industry spans across Europe, Asia Pacific, the Middle East & Africa, Latin America, and North America. Among these, Asia Pacific is expected to acquire the largest market share during the forecast analysis due to the growing urban population, high demand for automated manufacturing units and assembly points, increase in consumer disposable income, and growing manufacturing activities at the country level.
The competitive landscape of global industrial equipment business sphere is defined by companies such as Keller Technology Corporation, Kinematic Automation Inc., AeroGo Inc., Hitachi High-Tech Corporation, Flexicon Corporation, Indufit Machine, ARaymond, RNA Automation, Rockwell Automation Inc., and Atlas Copco.