Global Used and Refurbished Robots Market Outlook to 2028 – By Type, Application and Region – Astute Analytica

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CHICAGO, USA, Oct. 28, 2022 /EINPresswire.com/ — The global used and refurbished robot market size was US$1,737.2 million in 2021, and is expected to reach US$3,618.9 million USD by 2028. The robot market is expected to grow at a compound annual growth rate (CAGR) of 11.1% during the forecast period, i.e. 2022-2028. In terms of volume, the global used and refurbished robot market is expected to grow at a CAGR of 10.8%.

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Various operations are performed on refurbished robots to make them compatible with end-use applications. Inspections are carried out on these robots, followed by disassembly and cleaning. In addition, worn or defective parts, as well as grease, wiring and cables, are checked and replaced to enable high performance. Various companies are involved in the development of industrial robots, which could meet user demands in material handling and logistics, assembly lines, welding, painting, etc.

The refurbished robots segment, based on type, is expected to show the highest CAGR due to the steady growing demand for these robots. In terms of application, the assembly line segment is expected to acquire the highest market share due to the constantly increasing applications of refurbished robots mainly in the assembly line, while the welding segment will show the highest growth rate because robotic welding can accelerate productivity. of the workspace. Based on region, the used and refurbished robot market in Asia-Pacific leads with the highest market share owing to the presence of a large number of industry players .

Market dynamics and trends
Drivers
The increasing industrial automation and financial advantages of used and refurbished robots are mainly shaping the scope of the global used and refurbished robots market. Rising industrial automation will open up many growth opportunities for the used and refurbished robot market as businesses are rapidly transforming with the growing era of digitalization. Apart from this, an increasing number of initiatives aimed at accelerating the productivity of manufacturing facilities will present attractive prospects for market growth over the study period.

Used and refurbished robots are ideal for small manufacturers due to their low cost advantages. Large manufacturers can also leverage the advantages of used and refurbished robots to reduce costs, which would delimit the scope of the market. Additionally, governments of various countries are making a significant contribution by investing heavily in improving domestic manufacturing capabilities, which would drive the growth of the used and refurbished robot market.

Constraints
The high expense associated with maintaining used and refurbished robots can limit the adoption of these robots. Compared to new robots, used and refurbished robots require high costs for overall maintenance, which is the main reason to challenge the market.

Regional analysis
Used and Refurbished Robots Market in North America –
In the used and refurbished robot market in North America, the United States holds the highest market share as the country is witnessing a substantial increase in investment and growing growth in the automotive industry. Mexico, on the other hand, will show the highest growth rate of the used and refurbished robot market in North America. Based on type, the refurbished robot segment holds the highest market share and will exhibit the highest growth rate over the analysis period.

Used and Refurbished Robots Market in Europe –
In the European market for used and refurbished robots, Germany leads with the highest revenue share, while Poland is expected to show the highest growth rate. Based on applications, the assembly line segment holds the highest share in the European used and refurbished robot market due to the wide applications of refurbished robots, mainly in the line function assembly, while the welding segment will show the highest growth rate.

Used and Refurbished Robots Market in Asia-Pacific –
In the used and refurbished robots market in Asia-Pacific, China leads with the highest revenue share, while India will show the highest growth rate in the used and refurbished robots market. Used and Refurbished in Asia Pacific. By typology, the refurbished robots segment retains its lead in this regional market.

Middle East and Africa (MEA) Used and Refurbished Robots Market –
In the MEA used and refurbished robots market, Turkey will show the highest CAGR, while the welding segment, on the basis of application, will register considerable growth by registering the highest CAGR, mainly due to the expansion of knowledge about the advantages of the automated welding system. , such as their constant cycle time, the absence of interruptions associated with production and the high quality of the welds.

Used and Refurbished Robots Market in South America
In South America used and refurbished robot market, Brazil leads with the highest market share, while based on type, refurbished robot type segment will show the Highest CAGR due to reasons such as the growing adoption of these robots in South America, as well as with the high number of vendors present in the region.

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Competitive overview
Some of the major analyzed industry players operating in the global used and refurbished robots market include Eurobots, Global Robots, Kuka, Autotech Robotics, CyberWeld, Surplex, IRSA ROBOTICS, and others.

Introduction to Segmentation
The global used and refurbished robots market is segmented on the basis of type, application and region. The industry trends in the global used and refurbished robots market are sub-divided into different categories to get a holistic view of the global market.
Here are the different segments of the global used and refurbished robot market:
By type:
Used Robots
Refurbished Robots

Per application:
Handling and logistics
Assembly line
Welding
Paint

By region:
North America
United States
Canada
Mexico

Europe
Great Britain
Germany
France
Italy
Spain
Poland
Russia
The rest of Europe

Asia Pacific
China
India
Japan
Taiwan
South Korea
ASEAN
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Rest of ASEAN
Australia and New Zealand
Rest of Asia-Pacific

Middle East and Africa (MEA)
United Arab Emirates
Saudi Arabia
Turkey
Rest of MEA

South America
Argentina
Brazil
Rest of South America

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About Astute Analytica
Astute Analytica is a global analytics and consulting company that has built a solid reputation in a short time, thanks to the tangible results we have delivered to our clients. We pride ourselves on generating unrivaled, thorough and incredibly accurate estimates and projections for our highly demanding clients spread across different verticals. We have a long list of satisfied and repeat customers from a wide range including Technology, Healthcare, Chemicals, Semiconductors, FMCG and many more. These satisfied customers come to us from all over the world. They are able to make well-calibrated decisions and take advantage of highly lucrative opportunities while overcoming fierce challenges, all because we analyze for them the complex business environment, existing and emerging opportunities by segment, technology formations , growth estimates and even the strategic choices available. . In short, a complete package. All of this is possible because we have a team of highly qualified, knowledgeable and experienced professionals including business analysts, economists, consultants and technology experts. In our list of priorities, you, our patron, come first. You can be sure of the best cost-effective and value-added package from us, should you decide to engage with us.

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