Press release
Industrial Robotic Motors Market Growth Drivers and Challenges: CAGR of 13.4% and US$ 2.7 Billion Forecasted by 2029
Industrial Robotic Motors Market
The global industrial robotic motors market is anticipated to reach US$ 1.1 billion in 2022 and is expected to grow at a CAGR of 13.4% from 2022 to 2029. The installation of robots in a variety of service applications, such as healthcare, agriculture, and defence, as well as the use of contemporary robotic solutions, are major drivers of this growth.
The industrial robotic motors market is the subject of a recent market research study by Future Market Insights. The report analyses the global industry from 2014 to 2021 and evaluates market opportunities from 2022 to 2029. The study looks into the industrial robotic motors market and offers important predictions for the period from 2022 to 2029.
As per the findings of the report, the global industrial robotic motors market is anticipated to experience substantial growth over the forecast period, due to multiple driving factors such as, high demand for robots across end-use industries, rapid growth of automation, and implementation of global energy-efficient norms.
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The ongoing need for non-delay operations in a number of industries, in the view of rising product demand and shrinking workforce, has led to an incessant rise in the adoption of robotic technology, and the result is likely to lead to an increased demand for industrial robotic motors, according to the FMI analyst.
East Asia Continues to Offer Considerable Growth Opportunities
Growth prospects of the industrial robotic motors market are high in East Asia. The market in China has particularly been on a significant rise, owing to the fact that the robots are being incorporated in solutions as well as services. Substantial growth of the robot industry has been an eminent factor in the enhancement of industrial robotic motors in different sectors for South Korea. The rapid decrease in the workforce and the restricted influx of immigrants provide a strong incentive for robotics in Japan.
The inclination of these countries toward industrial robotic motors, fuelled by major technology developments, is amplifying the market. In terms of growth, South Asia & Pacific region is estimated to project maximum growth rate in the coming years, owing to rapidly increasing automation in several manufacturing industries actively operating in the developing countries.
Market Growth Underpinned by Rapid Adoption of Robotics Across Numerous Industrial Sectors
The global industrial robotic motors market has been segmented based on the different types of Motor, Robots, Fit type, and regions such as East Asia, South Asia Pacific, Europe and Middle East & Africa and the Americas.
• Servo motor, under the motor category is expected to have the paramount share of market in the upcoming years. The segmental growth is followed by DC and stepper motors for handling certain procedures including pick and place where accuracy is not a prior parameter taken into consideration in the manufacturing operation.
• Based on robot, articulated robot is expected to account for a prominent share of the global industrial robotic motors market. This line of growth is followed by SCARA, Cartesian/Gantry, Dual arm, Collaborative and Delta robots respectively which are expected to have a fair portion in the market development.
• Based on fit type, first fit segment is expected to have a dominant share in the industrial robotic motors, owing to increasing rate of new installation of robots across the globe. The estimated life span of a motor used in industrial robots is around 5 years, therefore retro fit segment, is expected to account for a minimal in the market.
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Industrial Robotic Motors Market: Vendor Insights
The report highlights some of the prominent market players, who have established themselves as leaders in the global industrial robotic motors market. Few examples of key players in the market are Nidec Corporation, FAULHABER Group, PMDM Group, HDD, Aurotek Corporation, Kollmorgen, Fanuc Corporation, ABB Group and Kawasaki Heavy Industries among others. The global industrial robotic motors market is considerably dominated by prominent market participants. These players are indulging into strategic collaborations, alliances, mergers and acquisitions. For instance, Nidec Corporation announced its establishment to form a joint venture to manufacture automotive traction motors with a subsidiary of China-based Guangzhou Automobile Group Company.
Industrial Robotic Motors Market By Category
Motor Type:
• Servo Motor
• DC Motor
• Stepper Motor
Robot Type:
• SCARA Robot
• Delta Robot
• Cartesian/Gantry Robot
• Articulated Robot
• Collaborative Robot
• Dual Arm Robot
Fit Type:
• First Fit
• Retro Fit
Region:
• Americas
• East Asia
• South Asia & Pacific
• EMEA
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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