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. Automation is the future of manufacturing, and industrial robots help businesses transform from labor-intensive factories to smart factories.

Industrial robots help businesses produce high quality products with minimal waste, which is a business advantage. The industry has experienced tremendous growth since the 1960s and is expected to continue to grow.

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INDUSTRIAL ROBOTS MARKET DRIVERS

The following factors are driving the demand for Industrial Robots Market:

• Reduce the cost of industrial robots enabling a wide range of applications. More engineers than ever in the past are cutting the cost of hiring professionals with the know-how needed to build these robots. Over time, it is expected that the cost of production will come down further to regions where labor is cheaper.

• Increased venture capital investment to improve the design, technology, and functionality of robots.

• Government rules 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.

• More types of robots of various sizes and capacities can be used, suitable for various application fields.

INDUSTRIAL ROBOTS MARKET SEGMENTATION

By Robot Type
Them main robots used by different industries are mainly

1. Articulated
2. Cartesian Coordinate Robots
3. Cylindrical Coordinate Robots
4. Spherical coordinate robots
5. SCARA Robots
6. Delta Robots
7. Serial manipulators
8. Parallel architecture
9. Others (Collaborative, Autonomous Guided Vehicles, exoskeletons)

The articulated, cartesian, delta and SCARA robots currently dominate the market due to their extensive use in the automobile and electronics industry and presence in the market for many years. They are also known as traditional or stand alone robots collectively.

On the other hand, collaborative robots which are new in the market are expected to show growth in the coming years. The collaborative robots do not require safety features to operate which reduces its installation costs. They are also simpler to use and run making them lucrative. However, the main reasons why they are not being adopted at a large scale are lower speed, accuracy and payload capacity.

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 purchasing, integration, programming and maintaining

• Absence of uniformity in the programming platforms

• Lack of integrators working across regions and industries

• No prior experience in working with automation

• Restricted retrofitting options

• Lack of availability of apt robots needed 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.

• FANUC is in conflict with the United States, mainly investing in the Chinese market. However, the company is restructuring its investment proposals for FY 2021. By 2020,

• FANUC & Yaskawa Electric installed more than 400k and 360k industrial robots worldwide, respectively.

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.