BANGALORE, India, Sept. 4, 2020 – The major factors expected to increase the industrial robot market size are technological developments, labor shortages, and increased manufacturing requirements.
The global Industrial Robots market size was 11300 Million USD in 2018 and is expected to 24500 Million USD by the end of 2025, growing at a CAGR of 10.2% between 2019 and 2025.
The Industrial Robots Market report studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors, and Porter’s Five Forces Analysis.
TRENDS INFLUENCING THE INDUSTRIAL ROBOTS MARKET SIZE
The rapid expansion of the automotive industry around the world, and the rising adoption of robotics in the non-automotive sector, including food & beverage, chemicals, rubber & plastics, and electronics / electrical, are boosting the growth of industrial robots market size.
Consumer’s preference for shopping online is improving the e-commerce industry. Distribution centers, manufacturers, distributors, and facilities owners are now underlining the incorporation of automated robotic solutions. The integration of industrial robots to the e-commerce industry will help achieve on-time delivery, reduce labor costs, and increase efficiency and productivity. This increasing use of automated robots in the e-commerce industry is expected to drive the industrial robot market size.
Another factor driving the growth of industrial robots market size is the growing penetration of collaborative robots in various industries. Collaborative robots allow robots and humans to work effectively together in open or uncaged environments. Using collaborative robots makes it possible to involve a human operator and robot in the same process together.
The coordination of management, output, and control is crucial for the smooth running of the workflow in the industrial sector. The current transition from manual to automation is increasing demand for such industrial robots. The market for these robots is catching up due to the development of small and medium-sized businesses, growing technology investments in manufacturing, and imposing tight government restrictions on handling toxic materials and goods.
INDUSTRIAL ROBOTS MARKET SHARE ANALYSIS
The Healthcare & pharmaceutical segment is expected to witness the highest growth during the forecast period. The rapid growth is attributed to the growing trend of synergizing robots and humans to perform various medical activities. This involves helping surgeons conduct surgery, usually minimally invasive procedures. These robots are integrated with advanced 3D HD technology, enabling the operator’s spatial references for highly complex operations. Moreover, speed and accuracy characteristics are major factors that are expected to propel the growth of the industrial robot market size.
Based on the region, North America is expected to hold the largest market share due to the emergence of industry 4.0. The increasing adoption of robots, along with the introduction of smart factors, would increase the market share of industrial robots in the coming years.
Asia-Pacific is expected to witness the highest growth during the forecast period. This rapid growth of the region is attributed to the favorable government policy programs addressing R&D funding, tax incentives, loans, and investment in skills.
The key manufacturers in this market include
- FANUC(Japan)
- KUKA(Germany)
- ABB(Switzerland)
- Yaskawa (Motoman)(Japan)
- Nachi(Japan)
- Kawasaki Robotics(Japan)
- Comau(Italy)
- EPSON Robots(Japan)
- Staubli(Switzerland)
- Omron Adept Technologies(US)
- DENSO Robotics(Japan)
- OTC Daihen(Japan)
- Panasonic(Japan)
- Toshiba(Japan)
- Mitsubishi Electric(Japan)
- Yamaha(Japan)
- Universal Robots(Denmark)
- Hyundai Robotics(Korea)
- Robostar(Korea)
- Star Seiki(Japan)
- CLOOS(Germany)
- IGM(Australia)
- JEL Corporation(Japan)
- Foxconn(Foxbot)(China)
- Siasun(China)
- Anhui EFORT Intelligent Equipment(China)
- Estun Automation(China)
- Guangzhou CNC Equipment(China)
- STEP Electric Corporation
- Codian Robotics(Netherlands).
By the product type, the market is primarily split into
- Articulated Robots
- Parallel Robots
- SCARA Robots
- Cylindrical Robots
- Cartesian Robots.
By the end users/application, this report covers the following segments
- Automotive
- Electrical and Electronics
- Chemical, Rubber and Plastic
- Metal and Machinery
- Food, Beverages and Pharmaceuticals
- Other.
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