Press release
Industrial Robotics Market to Experience a Decline in Growth Rate as a Result of Shutdowns across Nations
Research Dive
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Technological Impact
Social Impact
Investment Opportunity Analysis
Pre- & Post-COVID Market Scenario
Infrastructure Analysis
Supply Side & Demand Side Impact
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According to a new report published by Research Dive, the global industrial robotics market is anticipated to generate a revenue of $85.2 million by 2026, at a CAGR of 8.8% in the forecast time from 2019 to 2026. The global market segmentation has been done on the basis of type, application, industry and region. The report provides detailed information about drivers, opportunities, restraints, segmental analysis and competitive players of the market.
Factors Affecting the Market Growth
As per our analysts, improving the product at a most cost effective manner is predicted to drive the industrial robotics market in the estimated timeframe. Moreover, heavy installation cost is required to setup the industrial robot which is predicted to be the biggest restraints for the market in the estimated timeframe.
Traditional Industrial Robot is predicted to have the highest market share
On the basis of type, the industrial robotics market is further classified into collaborative industrial robots and traditional industrial robots. Traditional industrial robot generated a revenue of $26.8 million in 2018 and is estimated to rise with a CAGR of 8.0% in the estimated timeframe. Due to the lesser cost involved in the production is predicted to drive the segment in the estimated timeframe.
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Assembling and Disassembling Is Predicted To Have the Maximum Market Share
On the basis of application, the industrial robotics market is classified into handling, assembling and disassembling, welding & soldering, dispensing and processing.
Assembling and Disassembling segment generated a revenue of $14.7 million in 2018 and is estimated to rise with a CAGR of 7.1% in the estimated timeframe. Most of the manufacturing unit prefers the industrial robots for assembling and dissembling as most of the work cannot be performed by the normal human being due to which It is predicted that the assembling and disassembling segment in the estimated timeframe.
Automotive segment is predicted to have the Highest Market Share
On the basis of application, the industrial robotics market is classified into automotive, electrical & electronics, plastics, rubber & chemicals, precision engineering & optics, metals & machinery, food & beverage, pharmaceuticals & cosmetics and others. Automotive segment generated a revenue of $10.4 million in 2018 and is estimated to rise with a CAGR of 7.8% in the estimated timeframe. The segment is predicted to grow due to increase in the production with the help of industrial robots as compared to humans. The industrial robots can figure out many complication where a normal human cannot due to which the automobile segment uses the industrial robots at a large extent.
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Regional Breakdown of the Market
On the basis of region, the Industrial robotics market is further classified into North America, Europe, Asia Pacific, and LAMEA. Asia-Pacific region market generated a revenue of $20.7 million in 2018 and is estimated to rise with a CAGR of 8.7% in the estimated timeframe. With the presence of large number of manufacturing unit of various end use industry is predicted to drive the region market in the forecast period.
Top 9 major key players in the industrial robotics market are -
1. Mitsubishi Electric Corporation
2. Yamaha Motor Co., Ltd.
3. KUKA AG
4. Denso Corporation
5. Yaskawa Electric Corporation
6. Panasonic Corporation
7. Daihen Corporation
8. Kobelco Paint Robot
9. Kobe Steel Limited
Mr. Abhishek Paliwal
Research Dive
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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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