According to the 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 anticipated to witness significant growth during the forecast timespan 2021-2026.
 

Increasing production of automobiles and consumer electronics, as well as growing demand for solutions for fastening and assembling equipment are largely driving the global industrial assembly equipment market growth.
 

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Moreover, rising energy consumption, increasing number of SMEs in several nations, and escalating demand for automated manufacturing processes to increase quality by eliminating errors and reducing variability are slated to enhance the industry outlook in the upcoming years. Besides, critical role of assembly robots in manufacturing and assembly process along with stringent government laws will also continue simulating the industry growth.
 

The industry is fragmented on the basis on type (assembly equipment, and fastening equipment), and end user (consumer electronics, automotive, food & beverage, and others). Among these, consumer electronics segment is likely to experience strong gains as owing to increasing digitalization.
 

From a regional perspective, worldwide industrial assembly equipment market size spans across North America (U.S., Canada), Europe (UK, Germany, France, Italy), Asia Pacific (Japan, China, India), and Latin America (Mexico and Brazil).
 

Among the aforementioned geographies, Asia Pacific market will hold the largest market share by 2026, attributable to growing urban population, rising disposable income, proliferating manufacturing operations, and surging demand for automated manufacturing and assembly processes.
 

With respect to competitive landscape, Indufit Machine, Keller Technology Corp., Kinematic Automation, Flexicon Corp., AeroGo Inc., Hitachi High-Tech Corp., RNA Automation, Araymond, Rockwell Automation Inc., and Atlas Copco are the major competitors in the global industrial assembly equipment market.