Industrial Robotics Market Analysis and Forecast 2020: By Keyplayers Daihen Corporation, Yaskawa Motoman Robotics, Denso Corporation, Universal Robots, Epson America, Inc., Panasonic Corporation, Epson America, Inc., Nachi Robotic Systems, Inc., FANUC Ltd

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Market Overview

An industrial robot is a system used for manufacturing. These robots are automated, programmable, and can move on three or more axes. They can assist in material handling, product inspection & packaging, labeling, and testing. The demand for industrial robots across major application segments such as automotive and electrical and consumer electronics combined with its increasing usage across other sectors.
The global industrial robotics market is estimated to account for US$ 69.1 Mn in terms of value by the end of 2027.

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Competitive Section

Major companies operating in the global industrial robotics market are Daihen Corporation, Yaskawa Motoman Robotics, Denso Corporation, Universal Robots, Epson America, Inc., Panasonic Corporation, Epson America, Inc., Nachi Robotic Systems, Inc., FANUC Ltd., Mitsubishi Electric Corporation, Kawasaki Heavy Industries Ltd., and KUKA Robotics Corporation.

Market Dynamics- Drivers

1. Increasing demand for automation as labor gets expensive is expected to drive growth of the global industrial robotics market during the forecast period

Emerging economies such as India and China are highly labor incentive and has witnessed a rise in labor costs. As a result of this, it is becoming more economically viable to opt for automation. According to Coherent Market Insights’ analysis, the average wage per hour in countries such as India has increased significantly from US$ 3.5 in 2007 to US$ 5.1 in 2014. Increasing conversion rate and currency fluctuations have also impacted the overall market, resulting in increased labor costs as labor cost is directly linked with inflation. Hence there is a huge demand for industrial automation so that these industries can maintain productivity and cost-efficiency. Therefore, these factors are expected to drive growth of the global industrial robotics market during the forecast period.

1. Access to new industries and adoption of robotics in SMEs is expected to propel the global industrial robotics market growth over the forecast period

Previously, robotics was mainly related to heavy manufacturing such as the automotive and energy industries. However, over the years, the advent of precision robotics along with miniaturization of robots has found new markets such as electronics and instrumentation. Besides the introduction of nanorobotics has allowed industrial robotics to enter industries such as healthcare, which was previously untapped. Moreover, industries such as testing and packaging have continually shown great promise and have been key industries for the industrial robotics market. Industries such as auto components, which are SME based industries, are now adopting industrial robotics. Therefore, these factors are expected to propel the global industrial robotics market growth over the forecast period.

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Statistics:

APAC held dominant position in the global industrial robotics market in 2019, accounting for 54.1% share in terms of value, followed by North America and Europe respectively.

Market Opportunities

1. Major use in manufacturing sector can present lucrative growth opportunities in the global industrial robotics market

Industrial robots are optimizing production processes and making them more flexible not only in the automotive sector but also in other application segments such as electrical and electronics, machinery, and food & beverages. Deployment of robots has helped industry players to design the overall process in a smooth and development-oriented manner. Flexibility is one of the prominent factors in the industrial sector as segments such as food and beverages, packaging, etc. and this is also well served with the usage of industrial robotics. The work occurs in more than two shifts in these sectors to meet the demand-supply gap of the product. Thus, the robots have helped the industry players to achieve the demand-supply gap with the help of high speed, accuracy, and precision offered over humans.

1. Strategic expansion can provide major business opportunities in the global industrial robotics market in the global industrial robotics market

Manufacturers are focusing on both developed and developing regions to cater to the demand of industrial robotics across different application sectors. For example, Denso Corporation received iF Design Award in September 2011 for the new series of 6 axis compact robots. These robots are the world’s fastest robots with the slimmest arms and the company plans to market them in North America, Europe, and Asia through its existing sales offices and through Denso FA distributors in Japan. Moreover, KUKA Robotics is opening a new production facility in China to cater to the growing demand. The new production facility will help in the production of 5000 robots.

The global industrial robotics market was valued at US$ 49.0 Mn in 2019 and is forecast to reach a value of US$ 69.1 Mn by 2027 at a CAGR of 6.4% between 2020 and 2027.

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Market Trends

1. Mergers and acquisitions among market players

Major companies in the market are focused on mergers and acquisitions, in order to enhance the market presence. For instance, in February 2014, Daihen Corporation acquired VARSTROJ d.d. VARSTROJ d.d. was primarily engaged in the production, sale, and development of robot systems and welding equipment in Slovenia. The acquisition helped the company to further strengthen its product portfolio as well as geographic reach.

1. Research and development activities among key market players

Major companies are focused on research and development activities in order to expand the product portfolio. For instance, in May 2012, Denso Corporation introduced a series of six-axis articulated robots. The new series of VS robots offer the highest speed and precision. In August 2013, Epson introduced the Epson C4 and Epson C4L 6 Axis robots. These robots operate with faster speed and have more payload capability.
The value chain for industrial robotics covers all the stages of manufacturing, setting up these systems and its end-use applications. The manufacturing of Industrial robotics requires primary raw materials such as iron, aluminum, silica, steel, and the overall electrical and electronic hardware. All these sub-products are manufactured from procured raw materials such as steel, iron, oil, silica and aluminum. The EPA (Environmental Protection Agency) continuously supervises the basic raw materials utilized in robotics production. All the procured sub-products are assembled to form a complete entity. The products are designed and optimized according to requirement.

 Global Industrial Robotics Market - Impact of Coronavirus (Covid-19) Pandemic

Due to Covid-19 pandemic, many industries witnessed significant shift in their business. The ongoing COVID-19 pandemic has adversely affected many industries in the countries. This is due to lockdown imposed by several countries to stop the spread of coronavirus. Increased demand for medical equipment’s is expected to drive the growth of industrial robotics in the equipment manufacturing industry. Increasing demand for ventilators and respirators have increased the demand of industrial robots. For instance, in April 2020, Vecna Robotics, U.S. based robotics and Technology Company and sister companies VecnaCares and Vecna Healthcare have launched Ventiv, automated manual resuscitator used for combating the shortage of ventilators caused by coronavirus pandemic.

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