Industrial Robotics Market
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The industrial robotics market size is expected to grow at a CAGR 8.78% rate during the forecast period. Technological advancements and decreasing costs are making industrial robots more affordable to SMEs and are enabling seamless integration and programming. Shortage of labor and increasing manufacturing requirements is driving the need and acceptance for automation. Rising penetration of collaborative robots in various industries is another factor driving the market.
Traditional industrial robots to hold a larger market share in 2019. The automotive, electronics, and metal industries account for the major clients for the deployment of traditional industrial robots due to their high volume of production. As long as these industries continue to thrive, traditional industrial robots will hold a majority share of the market.
The market for processing application to grow at highest CAGR during the forecast period. As less number of workers are inclined to perform hazardous jobs in processing such as grinding and milling, manufacturers are looking into automation. With advances in software, force/torque sensors, and end-effectors, manufacturers are heavily automating these tasks using robots. Repetitive and strenuous tasks such as surface polishing can be automated for consistent results.
Automotive industry segment to maintain the highest share during 2019–2024. The automotive industry is one of the biggest users of industrial robots; although, it is gradually losing its share to other sectors. Automotive manufacturers strive for consistency and repeatability since any issue can stop the flow in a vehicle assembly line, significantly reducing production efficiency.
APAC is expected hold the largest market share. However, it lost its share to other regions compared to the previous year. A decrease in sales of industrial robots in countries like China due to the falling demand from the automotive sector and the effects of the US-China trade war is mainly responsible for the slowdown.
Key market players include ABB (Switzerland), YASKAWA (Japan), FANUC (Japan), KUKA (Germany), Mitsubishi Electric (Japan), Kawasaki Heavy Industries (Japan), DENSO (Japan), NACHI-FUJIKOSHI (Japan), EPSON (Japan), Dürr (Germany). Apart from these, Franka Emika (Germany), among others.
Key Questions Addressed by the Report
- As new companies enter the market, especially for collaborative robots, who will account for a larger market share in its category?
- How will the market value and growth of industrial robots change when the process of peripherals, software, and system engineering are taken into account?
- How will disruptive technologies such as AI, IoT, and 5G change the industrial robotics landscape in the future?
- What are the key market dynamics influencing market growth? How will it play into the strength and weaknesses of the company operating in the market space?
2. Research Methodology
Limitation and Assumptions
3. Executive Overview
4. Market Overview
5. Industrial Robotics Market, By Application
Assembling and disassembling
Welding and soldering
6. Industrial Robotics Market, By Industrial
Electrical and electronics
Plastics, rubber and chemicals
Precision engineering and optics
Metals and machinery
Food and beverages
Pharmaceuticals and cosmetics
7. Industrial Robotics Market, By Type
8. Industrial Robotics Market, By Region
Rest of Europe
Rest of APAC
Rest of Middle East
Rest of the World
9. Company Profiles
Kawasaki Heavy Industries
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