Madrona Venture Group made an investment of US$ 6.1 Mn for testing, hiring, and product development of industrial robots in May 2020. Companies are adopting several business strategies to cater to the market capitalization. This will fuel demand for industrial robots, which will subsequently boost the global industrial robots market. Fortune Business Insights in a new report, titled “Industrial Robots“ Market Size, Share and Global Trend By Robot Type (Articulated, SCARA, Cylindrical, Cartesian/Linear, Parallel, Others), By Application (Pick and Place, Welding & Soldering, Material Handling, Assembling, Cutting & Processing, Others), By End Use Application (Automotive, Electrical & Electronics, Healthcare & Pharmaceutical, Food & Beverages, Rubber & Plastic, Metals & Machinery, Others) and Geography Forecast till 2026” highlights some of the industrial robots market trend prevailing between 2018 and 2026. As per the report, the global market for industrial robots was worth US$ 18.78 Bn in 2018 and is anticipated to reach US$ 59.99 Bn by 2026. Furthermore, the market is expected to rise at an exponential CAGR of 15.7% during the forecast years.
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Top Players Overview:
- Yaskawa Electric Corporation
- Denso Ten Solutions Philippines Corporation
- FANUC America Corporation
- KUKA Robots
- Kawasaki Robots
- Panasonic Avionics Corporation
- Nachi Robotic Systems, Inc.
- Industrial Robots
- Adept Technologies LLC
Market Landscape and Market Scenario Includes:
- Current market size estimate
- Revenues by players Top Companies
- Market size by product categories
- Market size by regions/country
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The surge in human labor has compelled manufacturers to replace humans with robots. The emergence of industry 4.0 has revolutionized technologies and introduced robots. Several industries are adopting robots to streamline their manufacturing processes and reduce errors. Industrial robots play a crucial role in manufacturing industries as majority of the operations are managed by these robots. Earlier, companies were highly dependent on manual functioning. With the emergence of automation, the demand for industrial robots is likely to increase, augmenting the industrial robots market growth. These robots ensure smooth functioning of the workflow across industries. Growing investments in automation and establishment of small and medium-scale enterprises are favoring the industrial robots market potential.
Companies such as ABB, Yaskawa Electric Corporation, and Mitsubishi Electric Corporation are dominating the global industrial robots market.
Important Features that are under Offering and Key Highlights of the Market Report:
- Detailed overview of Market Share
- Changing market dynamics of the industry
- In-depth market segmentation by Type, Application, etc.
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising market growth
Articulated Robots to Witness High Demand from Automotive, F&B, and Pharmaceutical
As per industry requirements, industries adopt different types of robots to maintain operational efficiency. The report witnesses demand for Selective Compliance Articulated Robot Arm or SCARA, articulated, cylindrical, parallel, cartesian/linear, and other types of robots. Of these, articulated robots were leading in the industrial robots market in 2018. The robot has ability to perform precise functions such as assembling and material handling. Its adoption is increasing in industries such as pharmaceuticals, food and beverages, and automotive. This, as a result, is widening the industrial robots market scope. Furthermore, the market reposts an increase in the adoption of SCARA robots, as they are designed to work in harsh environment. Moreover, these robots enhance the reliability and speed on tasks such as pick and place or sorting. These are lightweight robots which makes them ideal for crowded places. For instance, Douglas Machine recently announced the introduction of a single SCARA robotic arm in its shrink wrap multipack. Industries such as manufacturing, automotive, and food and beverages are increasingly adopting such robots.
Queries Addressed In Market Report:
- What opportunities are present for the market players to enhance their business footprint?
- What manufacturing techniques are being implemented in the development of advanced Construction Equipment?
- Which segment is witnessing huge traction from the consumers?
- For what purposes, is the market being utilized?
- How many units are estimated to be sold in 2020?
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1. By Robot Type
- Others (Collaborative, etc.)
2. By Application
- Pick & Place
- Welding & Soldering
- Material Handling
- Cutting & Processing
- Others (Painting, etc.)
3. By End Use Industry
- Electrical & Electronics
- Healthcare & Pharmaceutical
- Food & Beverages
- Rubber & Plastic
- Metals & Machinery
- Others ( Construction, Defense, Logistics)
4. By Region
- North America (The U.S. and Canada)
- Europe (UK, Germany, France, Italy, Spain, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
- Latin America (Brazil, Mexico and Rest of Latin America)
Rising Automation in Japan and China to Accelerate Growth in Asia Pacific
Among regions, Asia Pacific is expected to maintain its dominance in the global industrial robots market between 2018 and 2026, by covering US$ 6.52 Bn in 2018. The growth is primarily driven by rising automation and manufacturing industry in countries such as China, India, and Japan. The growing consumption of consumer goods and rising per capita income among consumers are further supplementing the industrial robots market share. The demand for specialized machinery is increasing, spurring the industrial robots market revenue. This emerges the need for fast production capacity and high precision. Hence, the adoption of industrial robots is surging to map with the demand. Industrial robotics is likely to soar in India as it is the most appropriate tool to time and money. Invento Robotics designed a humanoid called Mitra with an aim to transform the Indian education system.
North America is projected to drive the global industrial robots market by 2026 as the market was worth US$ 5.01 Bn in 2018. The growth is attributable to the emergence of industrial revolution 4.0 and introduction of smart factories. In addition to this, the rising demand for customized robotic systems is fueling demand for such robots across different industries. Following North America, the market is expected to grow in Europe too.
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Key Features of Market Research Report:
- This report provides detail analysis of the market and have a comprehensive understanding of the market and its commercial landscape.
- Learn about the various market strategies that are being adopted by leading companies.
- It provides a five-year forecast assessed based on how the market is predicted to grow.
- It provides insightful analysis of changing competition dynamics and keeps you ahead of competitors.
- To understand the future scope and outlooks for the market.
- Market Forecast by regions, type and application, with sales and revenue, from 2020 to 2026.
- Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.
- Market Size (sales, revenue) forecast by regions and countries from 2020 to 2023 of industry.
- The global market Growth is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2023. In 2020, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
- Market Trend for Development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.
- Market Report also mentions market share accrued by each product in the market, along with the production growth.
Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
Table of Content
5. Global Industrial Robots Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Size Estimates and Forecasts
5.2.1. By Robot Type (Value and Volume)
6. North America Industrial Robots Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.1.1. By Robot Type (Value and Volume)
7. Europe Industrial Robots Market Analysis, Insights and Forecast, 2015-2026
7.1. Key Findings / Summary
7.1.1. By Robot Type (Value and Volume)
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