Industrial Robotics Market Overview:
Global Industrial Robotics Market is expected to reach $41 billion by 2020 growing at a CAGR of 5.4% from 2013-2020.
Industrial robotics market is driven by factors such as surge in labor charges worldwide, which in turn has enforced manufacturers to replace human labor with machines. Asia and Europe are the key growth regions of the world, with leading players, namely ABB, Fanuc, KUKA, Kawasaki, and the Yaskawa Electric Corporation being based out in the region.
The global industrial production output has plummeted in the recent years, but, is expected to witness significant growth during the forecast period. The demand for industrial robotics dipped in conventional industries such as automobiles and heavy engineering. However, increased need for automation in non-conventional areas, such as micro-electronics, has increased the usage of industrial robotics. Hence, an auxiliary channel utilizing industrial robotics has surfaced in the recent years. The heavy engineering sector drives the demand for industrial robotics.
The global industrial robotics market is impacted by several factors such as usage of industrial robotics in the manufacturing industry, increased demand for automation activities in the industry, reduction in custom duties, and evolving robotics & artificial intelligence (AI) industry. Furthermore, high cost of industrial robotics solutions is a major hindrance for the market growth.
The types of robots considered in the report are articulated robots, cylindrical robots, SCARA robots, Cartesian robots, and others. The articulated robots segment accounted for the maximum share in the global market in 2012, owing to increased usage of these robots in the packaging and healthcare sectors of the emerging economies. However, the cylindrical robots and others segment comprising customized and refurbished robots, are expected to grow at a significant pace in the near future, owing to their increasing demand in industrial sectors in the Asia-Pacific region.
Industrial robots are used in various industries such as automotive, electrical & electronics, chemical, rubber & plastics, machinery, metals, food & beverages, precision & optics, and others. The automotive industry is the largest end user of industrial robots. However, the growth in the segment is expected to plummet, owing to projected slowdown in the automotive industry during the forecast period. The food and beverages segment is expected to witness the highest growth rate in the near future, owing to spiraling food and beverages industry across the globe.
The market is segmented based on function into soldering & welding, materials handling, assembling & disassembling, painting & dispensing, milling, cutting, & processing function, and others. In the functions segment, materials handling subsegment contributed the highest revenue in the global industrial robotics market. The Asia-Pacific region generated the highest revenue in the global market in 2012.
Top Impacting Factors
The following illustration determines the impact of factors on the market growth.
Fig. 1 top Impacting Factors
Surge in use of industrial robotics in manufacturing industries
Emerging economies have witnessed surge in demand for various products, which in turn has increased the demand for robots in the manufacturing process. Automotive, food & beverages, and pharmaceutical are some of the industries utilizing these robots. Innovations in the sectors in terms of adoption of nonmaterial to 3-D printing to advanced robotics present lucrative potential for industrial robotics players in the coming years.
Fig. 2 Industrial Robots Deployment in Manufacturing Sector, 2011-2013
The above graph depicts the increase in the adoption of industrial robots in the manufacturing sector during the period of 2011-2013.
Industrial robots facilitating optimization and flexibility of production processes
Industrial robots have optimized production processes, and improve their flexible in the automotive electrical & electronics, machinery, food & beverages, and other sectors. The deployments of robots have helped industry players to design the overall process in smooth and process-oriented manner. Flexibility is one of the prominent factors in the industrial sectors such as food & beverages, packaging, and others to bridge the demand-supply gap.
Emerging Market in Bric Countries
Industrial sectors, such as automobile, plastics, and cement in the BRIC countries, Middle East, and Turkey have witnessed unprecedented growth in the recent years. Thus, the need for automation systems, such as robots, has burgeoned in the region. The government in these regions have imposed less excise taxes or custom duty to promote the adoption of the robots. This has helped the industry players to boosts the deployment of robots.
Key Benefits for Stakeholders
- This study provides the analytical depiction of the global industrial robotics market along with the trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to gain stronger coverage in the market.
- The report presents information regarding key drivers, restraints, and opportunities along with detailed impact analyses.
- Quantitative analysis of the market for the period of 2014-2022 is provided to determine its financial competency.
- Porters five forces analysis of the industry illustrates the potency of buyers and suppliers in the industrial robotics industry.
Industrial Robotics Market Key Segments
The industrial robotics market is segmented based on type, industry, function, and geography.
- Electrical & Electronics
- Chemical, Rubber & Plastics
- Food & Beverages
- Precision & Optics
- Soldering and Welding
- Materials Handling
- Assembling & Disassembling
- Painting and Dispensing
- Milling, Cutting and Processing
- North America
Key Market Players
- Daihen Corporation
- Denso Corporation
- Epson America, Inc.
- Fanuc Ltd.
- Kawasaki Heavy Industries Ltd.
- KUKA Robotics Corporation
- Mitsubishi Electric Corporation
- Nachi Robotic Systems, Inc.
- Panasonic Corporation
- Universal Robotics
- Yaskawa Electric Corporation
Other Companies Operating in the Industry
- ABB Ltd.
- Kobelco Paint Robot
- Kobe Steel Limited