Outlook on the Global Used And Refurbished Robots Market to 2028 – by Type, Application and Region - Astute Analytica

CHICAGO, UNITED STATES, October 28, 2022 /EINPresswire.com/ -- The global used and refurbished robots market size was US$ 1,737.2 million in 2021, which is expected to grow to US$ 3,618.9 million by 2028. The global used and refurbished robots market is expected to exhibit 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 robots market is expected to grow at a CAGR of 10.8%.

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Various operations are performed on the refurbished robots to make them compatible with end-use applications. Inspections are performed on these robots, followed by stripping down and cleansing. Additionally, worn or faulty parts, along with the grease, wiring, and cables, are checked out and replaced to enable high performance. Various companies are involved in the development of industrial robots, which could cater to the demands of the users in terms of material handling and logistics, assembly lines, welding, painting, etc.

The refurbished robot segment, based on type, is expected to exhibit the highest CAGR due to the steadily upscaling demand for these robots. In terms of application, the assembly line segment is expected to garner the highest market share due to the steadily growing applications of refurbished robots, majorly in the assembly line, while the welding segment will exhibit the highest growth rate as robotic welding can accelerate the productivity of the workspace. On the basis of region, the Asia-Pacific used and refurbished robot market leads with the highest market share due to the presence of a large number of industry players.

Market Dynamics and Trends
Drivers
Growing industrial automation and cost benefits of used and refurbished robots are primarily shaping the scope of the global used and refurbished robots market. Growing industrial automation will unfurl ample growth opportunities for the used and refurbished robots market as companies are fast transforming with the growing age of digitalization. Apart from that, a rising number of initiatives in a bid to accelerate productivity in manufacturing facilities will present attractive prospects for market growth during the study period.

Used and refurbished robots are ideal for small manufacturers due to their low-cost benefits. Large manufacturers can also leverage the benefits of used and refurbished robots for cost savings, which would outline the scope of the market. Additionally, governments of various countries are making a significant contribution by investing highly in enhancing domestic manufacturing capabilities, which would boost the growth of the used and refurbished robots market.

Restraints
The high expense associated with the maintenance of used and refurbished robots may limit the adoption of these robots. Compared to new robots, used and refurbished robots require high costs for overall maintenance, which is the major reason for challenging the market.

Regional Analysis
North America Used & Refurbished Robots Market –
In North America used and refurbished robots market, the US garners the highest market share as the country is witnessing a substantial rise in investments and escalating growth of the automotive industry. Mexico, on the other hand, will exhibit the highest growth rate in North America used and refurbished robots market. On the basis of type, the refurbished robots segment garners the highest market share and will exhibit the highest growth rate during the analysis period.

Europe Used & Refurbished Robots Market –
In Europe's used and refurbished robots market, Germany leads with the highest revenue share, while Poland is likely to exhibit the highest growth rate. On the basis of application, the assembly line segment garners the highest share in Europe used & refurbished robot market due to the expansive applications of refurbished robots, majorly in assembly line function, whereas the welding segment will exhibit the highest growth rate.

Asia Pacific Used & Refurbished Robots Market –
In the Asia-Pacific used and refurbished robots market, China leads with the highest revenue share, while India will exhibit the highest growth rate in the Asia-Pacific used and refurbished robot market. On the basis of type, the refurbished robots segment is maintaining its lead in this regional market.

Used & Refurbished Robots Market of the Middle East and Africa (MEA) –
In the MEA used and refurbished robots market, Turkey will exhibit the highest CAGR, while the welding segment, on the basis of application, will record tremendous growth by registering the highest CAGR, majorly owing to the expanding knowledge about the benefits of automated welding system, such as their consistent cycle time, zero disruptions associated with production, and high weld quality.

South America Used & Refurbished Robots Market
In South America used and refurbished robots market, Brazil leads with the highest market share, while on the basis of type, the refurbished robots type segment will exhibit the highest CAGR because of the reasons like the growing adoption of these robots in South America, along with the high number of vendors present in the region.

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

Segmentation Overview
Global Used and Refurbished Robots Market is segmented based on type, application and region. The industry trends in the global used and refurbished robot market are sub-divided into different categories in order to get a holistic view of the global marketplace.
Following are the different segments of the Global Used and Refurbished Robots Market:
By Type:
Used Robots
Refurbished Robots

By Application:
Material Handling and Logistics
Assembly Line
Welding
Painting

By Region:
North America
The U.S.
Canada
Mexico

Europe
The UK
Germany
France
Italy
Spain
Poland
Russia
Rest of Europe

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

Middle East & Africa (MEA)
UAE
Saudi Arabia
Turkey
Rest of MEA

South America
Argentina
Brazil
Rest of South America

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