Industrial Robotics Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

Report ID: GMI1729

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Industrial Robotics Market size is expected to witness an exponential increase in growth over the forecast period. Benefits such as improved productivity, cost reduction, and demand from emerging countries are expected to drive the industrial robotics market over the forecast time frame.
 

The increase in the demand for the industrial robots is credited to the introduction of the new electrical & electronic products and equipment in the market. It is also due to the intricacy of engineering processes, increase in the productivity of high volume manufacturing lines such as manufacturing of vehicles & electronic devices that perform compound tasks, and the need to meet the customer requirements which will drive the industrial robotics market growth.
 

Industries which are executing the robotic skills are gathering massive financial benefits due to the increasing flexibility, productivity, waste reduction, and reduced overheads. The introduction of advanced tools and self-programming robots are projected to drive the demand for industrial robotics market in the coming years. Moreover, robots with integrated touch and vision are coming in the industry fueling the demand. These factors are predicted to have a positive impact on the industrial robotics market because of their proficiency of delivering systems and their skill to enhance speed.
 

Use of labor has been replaced with self-programming robots owing to cost-effectiveness and efficiency due to their capacity to understand the environmental changes through the addition of advanced sensors. The increase in measures owing to the safety rights of labor is also expected to expand the industrial robotics market growth.
 

High installation costs and the unavailability of skilled labor & technicians are predicted to pose a challenge for the companies. These issues may make industries in developing countries cautious of adopting robots that may hinder the growth of the industrial robotics market Furthermore, the rise in cost reduction, operation rate, size reduction, and improvement in the quality & growing manufacturing efficiency and flexibility are important aspects hindering the market demand.
 

Based on its product type, the industrial robotics market can be segmented into articulated, cartesian, cylindrical, SCARA, parallel, and linear robots. Articulated robots accounted for a majority of the market share. This is because of the operational & structural competencies of the articulated arm and these are widely used in the electrical & electronics and automotive industry.
 

Industrial robotics market based on component type includes the robotic arm, controllers, end-effector, drives, and sensors. The cost-effectiveness, reliability, scalability, and sensitivity provided by the MEMS sensor technology has given multiple opportunities for sensor applications in the industrial robotics market. Moreover, the inertial and pressure sensors such as accelerometers and gyroscopes are the most projecting types of MEMS sensor technology used in the industry. As this sensor technology helps robots gain sensual information to make decisions and perform the actions in an independent and versatile manner, thereby influencing the overall demand.
 

Industrial robotics market based on applications include drilling & fastening, material handling, welding, inspection, and painting & coating. Material handling contributed maximum revenue owing to its ability to handle critical machine and equipment. Industrial robotics market based on end user includes electrical & electronics manufacturing, food & beverage, machinery, metal, chemical & plastics, and rubber industry. Electrical & electronics manufacturing vertical has contributed significantly to the overall rise in the revenue. The rising demand for automating production and new electronic products in developing countries were the driving factors for the boost in industrial robotics market sale. According to an IFR (International Federation of Robotics) report in 2016, the sale of industrial robots to the electrical & electronics industry such as radio, computers, TVs among others were significantly up in 2015 by 41% thus establishing a new peak.
 

An amplified demand from the automotive sector and the mounting labor costs has subsequently encouraged the industrial robotics distribution in manufacturing. Increasing quality importance to survive in the competitive manufacturing industry is likely to drive the industrial robotics market. The growth in embracing of robots in applications such as chemicals, electronics, and food & beverages has unlocked new roads for the industry development in the coming years.
 

The U.S., Japan, China, Germany, and South Korea are the major appealing regions in the industrial robotics market. As per the 2016 IFR report statistics, Japan is the top market for industrial robotics, which is followed by China. The major driver for the Asia Pacific industrial robotics market growth is the demand from SMEs in Japan, India, South Korea, and China. In India, the growth in investments is boosting the manufacturing market under the project of ‘Make in India’. Furthermore, the governmental policies in Asian countries such as South Korea, Taiwan, and China over programs addressing investment in skills, R&D funding, tax incentives, and loans are projected to drive the industrial robotics industry growth positively.
 

An increase in demand from the Australian automotive industry is projected to have an effective impact on the industry growth. A strong focus on developing manufacturing techniques alongside revolutionizing factories to improve productivity is one of the aspects which is responsible for robotic installations in countries such as Brazil and the U.S. The key industry players operating in the industrial robotics market are KUKA AG, FANUC Corp, ABB Ltd, Denso Corporation, ESPON Electronics, Mitsubishi Electric, Yaskawa Electric, Kawasaki, Yamaha, Panasonic, and Toshiba.
 


What Information does this report contain?

What was the historic market data from 2013 to 2016, what is the industry growth forecast from 2017 to 2024?
A detailed analysis of regulatory trends, growth drivers, industry pitfalls, challenges and opportunities for participants
Which are the leading market products, applications & regions and how will they perform by 2024?
What are the technology & innovation trends, how will they evolve by 2024?
Which companies lead the industry, how are they positioned in the market in terms of sustainability, competency, production capacity and strategic outlook?

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