Press release
Industrial Robotics Market to strengthen the manufacturing sector by improvising productivity.
Industrial robots are a multifaceted technological innovation that has transformed the industrial landscape around the world. Industrial robots are programmable machines that can perform a wide variety of tasks in industrial surroundings. They are much more efficient and effective than human labor: an industrial robot can work 24/7 with little to no aberration, and can perform a variety of tasks with equal competence.Due to the steady push for automation in several industries, the industrial robotics market is rising at a strong pace, according to leading market intelligence firm Transparency Market Research. According to research recently presented by the company, the global industrial robotics market, worth US$28.9 bn in 2013, is expected to exhibit a CAGR of 6.20% from 2014 to 2020. At this steady growth rate, the market is expected to be valued at close to US$44.5 bn by 2020.
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Articulated Industrial Robots Lead Global Industrial Robotics Market
The various types of robots on offer in the industrial robotics market include articulated robots, Cartesian robots, cylindrical robots, and SCARA (selective compliant assembly robot arm). Among these, articulated industrial robots, which contain a rotary joint, lead the demand from the global industrial robotics market.
Due to the versatility of industrial robots, the global industrial robotics market receives demand from a wide variety of end-use industries. The major end-use segments of industrial robotics are the automotive industry, the electrical and electronics industry, rubber and plastics, chemicals, metals and metallurgy, the food and beverages industry, and the precision and optics industry. These industries mainly utilize industrial robots for processes such as materials handling, assembling and disassembling, cutting and processing, soldering and welding, milling, and painting. Among these, the application of industrial robots is the highest in materials handling.
The automotive industry is the largest end user of industrial robots, accounting for close to a quarter of the global industrial robotics market in 2013. While the growing automation of automotive manufacturing procedures will keep the automotive industry among the leading end users of industrial robots, precision and optics and food and beverages are expected to emerge as strong end-use segments of the global industrial robotics market.
Excellent Growth Prospects for Industrial Robotics Market in Asia Pacific SMEs
The global industrial robotics market could total more than 1.3 mn units by 2018, according to a recent report from the International Federation of Robotics. While definitive 2015 figures are not available yet, the global supply of robots is expected to increase by about 15% in 2015, with the majority of them being for industrial use. Fanuc, the leading supplier of industrial robots, recently announced cumulative global sales of 400,000, an industry record that is sure to be broken sooner than later, considering the growing demand for industrial robots from Asia Pacific as well as developed regions such as North America and Europe.
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The rising use of industrial robots in small and medium enterprises has been a prominent driver for the industrial robotics market in Asia Pacific. Many emerging and economically powerful countries in APAC, such as China, India, Singapore, Australia, and Japan are increasingly adopting automation in industrial activities, propelling the regional industrial robotics market. This is expected to remain a prominent hallmark of the growth trajectory of the global industrial robotics industry in the coming years.
Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
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