The industrial robotic market (including the prices of peripherals, software, and system engineering) is expected to grow from USD 42. 2 billion in 2021 and is projected to reach USD 75. 3 billion by 2026; it is expected to grow at a CAGR of 12.
New York, June 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Industrial Robotics Market with COVID-19 Impact Analysis by Type, Component, Payload, Application, Industry And Region - Global Forecast to 2026" - https://www.reportlinker.com/p05012871/?utm_source=GNW
3% during the forecast period. The factors such as incentives offered by the government of various countries worldwide and public-private companies to the industrial sectors to mitigate the impact of COVID-19 pandemic coupled with growing demand for collaborative robots across all the industries to enable automation are driving the growth of the market. However, the reduction of the jobs of general laborers due to adoption of industrial robots in the manufacturing sector for automating the production lines is of the key factors limiting the growth of the market.
Market for collaborative robots to grow at higher CAGR during the forecast period
Collaborative robots, also known as cobots can directly and safely interact with humans in a shared workspace.These robots are not operated inside cages or safety enclosures.
Distinctive features of collaborative robots include rounded edges, embedded impact, and proximity sensors, as well as a lightweight design.They are majorly adopted by the SMEs for automation given the fact that they require limited investment capital and are easier to deploy as compared to the traditional industrial robots.
Their flexibility to easily adapt to different tasks makes them appealing to many industries and enable faster return on investment (ROI).Apart from SMEs these robots are also being considered for automation in large-scale, traditional industries such as automotive.
Hence, the market for collaborative robots is expected to grow at a faster rate during the forecast period.
Food & Beverages industry for the industrial robotics market to record highest CAGR during the forecast period
Food & Beverages industry is estimated to have the highest growth for the industrial robotics market during the forecast period.Primary food processing mandates a high degree of sanitation.
Under this, industrial robots are used for automation of several tasks such as picking and placing fruits and vegetables, cutting and slicing meat, de-panning bakery items such as bread and cakes, and packaging the final product. These robots also need to be water-resistant or IP67 certified. . For instance, the HE (Humid Environment) series articulated and SCARA robots from Stäubli (Switzerland) are suitable for use in humid environments. Secondary processing, end-of-line packaging and palletizing are the most common operations where industrial robots have witnessed growth in this industry. As majority of the processes involved in food & beverages manufacturing are automated, this industry needs to deploy industrial robots on a large scale, as a result of which the industry is estimated to have the fastest growth for the industrial robotics market.
Industrial robotics market for processing application to grow at the highest CAGR during the forecast period”.
Processing application is expected to be the fastest-growing segment of the industrial robotics market.The processing application includes sub-types such as surface processing, polishing, deburring which involves adoption of industrial robots for their implementation.
Automotive industries have begun to invest more in polishing assembly lines, which is expected to fuel the growth of the market for processing applications.SMEs predominantly undertake these processing applications in their manufacturing plants.
As SMEs have a faster rate of growth compared to the large-scale industries, the adoption of industrial robots for automating the processing applications would also expect a rise during the forecast period. Hence the existing companies or SMEs in the industrial market can target the industries wherein processing application is undertaken in manufacturing, so in order to increase their revenues.
Europe to hold a significant share of the industrial robotics market during the forecast period
Europe is expected to hold a significantly large market for industrial robots during the forecast period.In Europe, industrial robots are not only relevant for large enterprises, but for smaller enterprises as well.
Germany is the largest market in Europe for industrial robotics both for traditional as well as collaborative robots.The automotive sector which is highly prominent in Germany is the largest contributor in the demand for industrial robots.
With the advent of electric and hybrid vehicles, collaborative robots are being introduced in the automotive industry.The second-largest contributor in the demand for industrial robots is the electrical & electronics industry in Germany.
This strong manufacturing sector is expected to accelerate the growth of industrial robotics market in the country. Additionally, government initiatives, such as the Industry 4.0 and Made in China 2025, and the penetration of IoT and AI are expected to boost the sales of industrial robots in the coming years.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the industrial robotics market space. The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 – 40%, Tier 2 – 40%, and Tier 3 – 20%
• By Designation: C-level Executives – 50%, Directors – 30%, and Others – 20%
• By Region: North America –40%, APAC– 30%, Europe – 20%, and RoW – 10%
The report profiles key players in the industrial robotics market with their respective market ranking analysis. Prominent players profiled in this report are ABB (Switzerland), FANUC (Japan), YASKAWA (Japan), Kuka (Germany), Mitsubishi Electric (Japan), Kawasaki Heavy Industries (Japan), Denso Corporation (Japan), NACHI-FUJIKOSHI (Japan), Seiko Epson (Japan), DÜrr (Germany), Universal Robots (Denmark), Stäubli (Switzerland), Comau(Italy), B+M SURFACE SYSTEMS (Germany), ICR Services(US), IRS Robotics(Netherlands), Hyundai Robotics(South Korea), Siasun Robotics(China), RobotWorx(US), Techman Robot(Taiwan), Rethink Robotics(Germany), FrankaEmika (Germany), F&P Robotics (Switzerland), Bosch Rexroth (Germany).
This research report categorizes the industrial robotics market on the basis of type, component, payload, application, industry and geography.The report describes the major drivers, restraints, challenges, and opportunities pertaining to the industrial robotics market and forecasts the same till 2026 (including analysis of COVID-19 impact on the market).
Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the industrial robotics ecosystem.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the industrial robotics market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product developments and launches, partnerships, and mergers and acquisitions.
4. The analysis of the top 25 companies, based on the strength of the market rank as well as the product footprint will help stakeholders visualize the market positioning of these key players.
5. Patent analysis, trade data, and technological trends that will shape the market in the coming years has also been covered in this report.
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