Industrial Robots Market Top Key Players- ABB, YASKAWA, KUKA, FANUC, Mitsubishi Electric, Kawasaki Heavy Industries

The Global Industrial Robotics Market is estimated to grow at 4% CAGR between 2021-2026. It is estimated to reach $36B by 2026. Due to the surge in global demand for electrical and electronic products, the installation of robots in related sectors of the industry is increasing. Electric Electronic Robots Industry Grows at 5% CAGR between 2021-2026.

Industrial robots are better for business as they help minimize waste and produce high-quality products. The industry has experienced tremendous growth since the 1960s and is expected to continue growing in the future.

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INDUSTRIAL ROBOTS DRIVERS

The following factors are driving the demand for Industrial robots:

• Cost reduction of industrial robots for wider application. More engineers today have the know-how needed to produce these robots, reducing the cost of hiring professionals. Over time, costs are expected to be even lower as production takes place in areas where labor costs are cheaper.

• Increased venture capitalist investment to improve robot design, technology and functionality.

• Government regulations and regulations in many countries require the safe handling and disposal of hazardous substances.

• Due to labor shortages and high labor costs, the tendency to move to automated robots with the use of human labor. Robots are preferred over human labor because they help speed up processes.

• Increased consumption of consumer goods will lead to more production and help this market grow.

INDUSTRIAL ROBOTS MARKET SEGMENTATION

By Robot Type

Them main robots used by different industries are mainly
• Articulated
• Cartesian Coordinate Robots
• Cylindrical Coordinate Robots
• Spherical coordinate robots
• SCARA Robots
• Delta Robots
• Serial manipulators
• Parallel architecture
• Others (Collaborative, Autonomous Guided Vehicles, exoskeletons)

By Application
The different areas of applications of industrial robots are
• Pick and place
• Welding and Soldering
• Material Handling
• Assembling
• Cutting and Processing
• Others

By Industry
• Automotive
• Electronics
• Healthcare
• Food and beverages
• Rubber and plastic
• Metals
• Machinery
• Others

By Region
The region wise segmentation of the market is as follows:
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

CHALLENGES IN INDUSTRIAL ROBOTICS MARKET

Though there is higher adoption and increase in investment in the industry, there are a few roadblocks which may hinder the growth of industrial robots. Some of these are:

• High cost of robots in terms of purchase, integration, programming, and maintenance

• Uniformity of programming platform

• Regional and industry-wide work integration shortage

• No prior experience for automation tasks

• Limited mods Option

• Insufficient availability of suitable robots, required for specific applications

COMPETITIVE LANDSCAPE

• The technological development of industry by manufacturers is to provide more opportunities for growth. Currently, the use of artificial intelligence and sensors is being observed in this area.

• Today's manufacturers are adopting a variety of growth strategies, including acquisitions, to maintain market share.

COMPANIES PROFILED

Some of the prominent players in Industrial robotics market are:
• ABB
• YASKAWA
• KUKA
• FANUC
• Mitsubishi Electric
• Kawasaki Heavy Industries

Read More Information: https://mobilityforesights.com/product/industrial-robots-market/

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This release was published on openPR.