Industrial Robotics Market share research by applications and regions for 2017-2024
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.
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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.
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.
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.
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.
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.
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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.
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