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Metal fabrication robot to reach US$12.07B by 2031

Source:Growth Market Reports Release Date:2023-01-26 709
Industrial MetalworkingMetalworkingIndustrial Robots & Automation EquipmentMetal Materials
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According to a recent market study published by Growth Market Reports, the metal fabrication robot market size was valued at US$4.64 billion in 2022 and is expected to reach USD$12.07 billion, expanding at a CAGR of 11.20% by the end of 2031. 

Key Takeaways from the Study:

The rapid adoption of industrial robots to enhance productivity and improve work efficiency can drive the global market.The growing adoption of advanced automated technologies for efficient industrial operations is projected to create lucrative opportunities for market players in the coming years.Technological advancements in robotics to make robotics systems smarter and support the removal of traditional obstacles to automation can create new opportunities for the global market during the forecast period.The rising demand for novel developed industrial robots is largely influenced by their superior attributes such as multi-functional, autonomous, flexible, and mobile.Key manufacturers deploy metal fabrication robot machines to perform multi-tasking, especially repetitive activities, or processes in an industrial operation.

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