The Insight Partners
Increasing Prospects in Manufacturing Industries to Drive Rotary Indexer Market Growth During 2021–2028
NEW YORK, UNITED STATES, March 31, 2023 /EINPresswire.com/ — According to our latest market study on “Rotary Indexer Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, End-Use Industry, and Geography,” the market is expected to grow from US$ 654.90 million in 2021 to US$ 883.96 million by 2028; it is estimated to grow at a CAGR of 4.4% from 2021 to 2028.
Report Coverage – Rotary Indexer Market
Report Coverage Details
Market Size Value in US$ 654.90 million in 2021
Market Size Value by US$ 883.96 million by 2028
Growth rate CAGR of 4.4% from 2021 to 2028.
Forecast Period 2021- 2028
Base Year 2021
No. of Pages 195
No. of Tables 82
No. of Charts & Figures 88
Historical data available Yes
Segments Covered Type, Application, and End-Use Industry
Regional scope North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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A rotary indexer is rotary motion equipment that uses a collet system to hold the material put on it and is generally used for drilling hole patterns in round materials. In an indexing table, the work is generally done on parts that are not moving compared to the rotary table, where parts are continuously rotating. A rotary indexer is an important type of motion in various areas of application such as mechanical engineering, precision measuring, machine assembling, and inspection. Surging demand for rotary indexers in various applications is one of the prominent factors driving the rotary indexer market growth.
Rotary indexer is used in many industries such as automotive manufacturers, bottling companies, microchip manufacturers, pharmaceutical makers, and consumer products companies. It is also used in other industries in numerous applications such as assembly, machining, testing, printing, positioning and transfer, and parts separation. Rotary indexers are most widely adopted in automated welding, medical packaging, and assembly cutting systems. The rotary indexer market is expected to grow at robust growth during the forecast period due to development in the automotive and electronics industries worldwide, including India. There has been an increase in the trend toward automated welding solutions across the industries mentioned above, which has been fuelled by a boom in demand for welding goods from end-use sectors worldwide. These factors mentioned above are further fueling the rotary indexer market growth
North America has the highest acceptance and development rate of emerging technologies globally due to favorable government policies to boost innovation and reinforce manufacturing capabilities. Therefore, any impact on industries is projected to influence the region’s economic development negatively. Notably, the US is one of the world’s worst-affected countries, and the crisis led to a cascading impact on multiple industries, including automotive and consumer electronics. Further, automotive production across the region came to a halt during the peak periods of the COVID-19 pandemic. For instance, in March 2020, General Motors, Ford, and Fiat Chrysler planned to close all US factories owing to the pandemic temporarily. In addition, Daimler announced the shutting down of its two factories in the US.
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Key Findings of Study:
The rise in the sale of automotive assembly units and growth in the aerospace industry is driving the sales of rotary indexers in this region. The surge in the uptake of automated welding from various end-use industries is also propelling the rotary indexer market growth in North America. Asia Pacific holds potential demand for rotary indexers due to the rise in the production of the automotive industry, pharmaceutical industry, and consumer electronics industry.
Countries in North America are significantly focused on adopting automation in manufacturing processes due to its advantages. Manufacturing industries are embracing large-scale automation, human-robot collaboration, and connectivity to push Industry 4.0 forward. As per the Association for Advancing Automation (A3), the number of robots sold in North America set a record in 2021, with 39,708 units sold at a value of $2 billion, which increased by 28% from 2020. Thus, industries are focusing on adopting robotics to improve productivity which helps drive the market. In Europe, the application of industrial robots in the welding process is a growing trend owing to state-of-the-art technologies. Approximately 77% of industrial robots are used in welding, assembling, and manufacturing the automotive industry in Europe. Thus, the manufacturing and automotive industries’ growth prospects are further propelling the rotary indexer market size.
Rotary Indexer Market: Competitive Landscape and Key Developments
Colombo Filippetti S.p.A, Nabtesco Corporation, FIBRO India, Haas Automation, Inc, TUNKERS Maschinenbau GmbH, Goizper Group, Camfield Engineers, Motion Index Drives Inc., Nexen Group, Inc., and Packam Controls are among the key players profiled in the report on the rotary indexer market. Several other market players were also analyzed to get a holistic view of the rotary indexer market and its ecosystem.
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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, and Chemicals and Materials.
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Originally published at https://www.einpresswire.com/article/625312298/rotary-indexer-market-to-hit-us-883-96-million-globally-by-2028-at-4-4-cagr-the-insight-partners