Industrial Robotics Market to 2024 Top Business Vendors ABB, DENSO, Epson America Inc., Kawasaki Heavy Industries, Ltd., Mitsubishi Electric US, Inc., Panasonic Welding Systems Co. Ltd., Universal Robots A/S, Yamaha Motor Co., Ltd.

Industrial Robotics Market size is set to exceed USD 80 billion by 2024. Growing trend of adoption of ‘lights out’ production concept in modern manufacturing is expected to drive the industrial robotics market growth. In ‘lights out’ production, the manufacturing activities are handled using automation. The companies are adopting the technology to reduce human involvement in the repetitive, uncreative & dangerous tasks, eliminate errors, and cut manufacturing costs. For instance, at Fanuc plant in Japan, only four workers supervise the production of industrial robots by industrial robots. Furthermore, since 2013, Canon began phasing out the human labor.

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Industrial robotics market is expected to grow at a significant pace, owing to the continuing trend of automation across several end-use industries. Robots are being increasingly adopted by the companies to perform repetitive or risky tasks such as deburring, grinding, part inspections, and bin-picking. Automation through this equipment enhance efficiency of several processes ranging from raw material handling to the packaging of the finished product. The adoption of this technology across industries has enabled the companies to increase competitiveness based on price, offerings, and business reach, thus propelling the industrial robotics market growth.

Market Growth Drivers: -

1. Rising labour costs and inconveniences of employing manual workforce in North America and Europe
2. Government initiatives aiding the growth of the local manufacturing in South-East Asia
3. Rise in SMEs and their growing demand for automation in Europe and Asia Pacific
4. High growth of automation across the automotive and electronic industries in Asia Pacific
5. Low robot density in the Asia Pacific

Although, the technology performs tasks accurately, requires high degree of expertise and technical training for initial setup. The end-users require expertise and service package from the system manufacturers to ensure error-free setup. Furthermore, the performance of these systems highly depends on the performance of the surrounding systems such as conveyor systems, grippers, and vision systems. This is expected to hamper the industrial robotics market growth over the forecast timespan.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. ABB
2. DENSO
3. Epson America Inc.
4. FANUC CORPORATION
5. Kawasaki Heavy Industries, Ltd.
6. KUKA AG
7. Mitsubishi Electric US, Inc.
8. Nachi-Fujikoshi
9. OTC DAIHEN, Inc.
10. Panasonic Welding Systems Co. Ltd.
11. Rethink Robotics
12. Stäubli AG
13. Universal Robots A/S
14. Yamaha Motor Co., Ltd.
15. Yaskawa Electric Corporation

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Industrial robotics market is projected to witness surge in demand from the automotive industry, owing to the increasing adoption by the car manufacturers to improve precision and efficiency of the production lines. According to the Robotics Industry Association, more than 50% purchases of robots in North America in recent years are made by the automotive industries. Technological advancements such as robotic vision, collaborative robots, and robotic hand are encouraging more automakers to implement the technology in their production plants, thus positively impacting the industrial robotics market growth.

The German industrial robotics market strength is driven by a combination of the region’s proven engineering tradition, position as a leader in technological development, and its highly diversified industrial base. Germany is witnessing immense innovations which are helping bridge the gap between robotics and several industrial sectors. Stakeholders are organized in multiple regional organizations such as the Automation Valley Northern Bavaria. The country’s specific strength in the development and manufacturing of industrial robots is further strengthened by the existence of specialized organizations such as the Robotics and Mechatronics Center at the German Aerospace Center (DLR).

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Growing need for automation in manufacturing pharmaceutical units has led to the growth of the Japan industrial robotics market. The units are used for easy and quick accomplishment of medical tasks. Companies in Japan are increasingly using collaborative robots such as UR3 ROBOT by Universal Robots A/S, which are assisting the workers in injection molding, conducting lab analysis, and picking & placing drugs.

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