Cartesian Robot Market Size Worth US$ 15,007.9 Million By 2027 | CAGR 11.9%: The Insight Partners

The Insight Partners published the latest research study on "Global Cartesian robot Market to 2027 - Analysis and Forecasts by Axis Type (1-Axis, 2-Axis, 3-Axis, 4-Axis); Industry Verticals (Manufacturing, Automotive, Electrical and Electronics, Food and Beverages, Chemicals and Petrochemicals, Others), The global Cartesian robot market is accounted to US$ 5,840.3 Mn in 2018 and is expected to grow at a CAGR of 11.9% during the forecast period 2019 - 2027, to account to US$ 15,007.9 Mn by 2027. The report includes the key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.

According to Moore's law, the size of the Integrated Circuits (IC) is shrinking every 2 years, thus felicitating the usage of Cartesian robots to work on nanostructures. Creating circuit boards, inserting parts into injection molding, final assembly applications, CNC processes, and metal stamping are among the processes that are likely to be automated by electronics manufacturers. For effective automation, these processes need great flexibility, speed, and precision through a robot system. However, ROI still acts as a hindrance to the market growth in the electronics industry. With the decreasing prices of Cartesian robots, the market is anticipated to gain pace during the coming years.

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The electrical & electronics industry is characterized by a high amount of fragility and requires the highest levels of precisions during the manufacturing process. Cut-throat competition in consumer electronics has driven manufacturers to produce the highest quality equipment with lower errors and minimal losses. Volatile consumer electronics markets and dynamic changing demands from consumers have left little or no room for errors for consumer electronics manufacturers. Therefore, consumer electronics manufacturers look for high-precision instruments and processes to be integrated into their manufacturing processes. Further, the rising demand for smartphones, laptops, tablets, smartwatches, and consumer electronic products has intrigued the manufacturing industry to increase its production capacity.

The Cartesian robot market operates in a highly-competitive marketplace. As leading companies in this market continue to broaden their addressable market, by expanding their current product portfolio, diversifying their client base, and developing new applications and markets, all the prominent players face an increasing level of competition, both from regional players as well as the leading global companies across the world. Companies such as ABB, KUKA AG, Epson, Fanuc, and Yamaha Motor are aggressively investing in next-generation robotics technology.

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Government support for the development and deployment of robotics

The government of several nations worldwide are taking initiatives to support and promote the development and adoption of the Cartesian robot in their respective countries. For instance, the government of Singapore, under its Industry Transformation Programme, has announced several measures to facilitate companies and industries to innovate, automate, expand overseas and obtain financing. The Singapore government, in 2015, introduced the 'National Robotics Programme' for the development and deployment of robotics in various sectors including, healthcare, manufacturing, construction, and logistics. Further, in the year 2016 budget of Singapore's government, a new three-year 'Automation Support Package' was introduced. Under this, the government enhanced the 'National Robotics Programme' by providing over US$ 450 Mn for the development and adoption of robotics.

Rapid Expansion in Manufacturing Industry

The global manufacturing industry is rapidly expanding as more and newer regions are investing in adopting manufacturing plants in their localities. As per the China Federation of Logistics and Purchasing (CFLP), the global manufacturing purchasing managers' index (PMI) accounted for 55.1 in October 2017, which was down from 55.9 in September 2017 however, still at a comparatively high level. The PMI index remained above 53.5 since the beginning of 2017, signifying a substantial recovery of the manufacturing sector in developed countries, increasing industrial advancement in emerging market economies, and intensifying commodities prices on the global market. This expansion in the manufacturing industry is expected to embrace technological advancements to enhance plant productivity, maintain an edge with the customers, and gain a competitive advantage.

The List Companies: Cartesian Robot Market

The market for the global cartesian robot is concentrated with some very well-established players. Some of the key players in the global cartesian robot market include ABB Ltd., Aerotech Inc., Akribis Systems, Bosch Rexroth AG, Denso Corporation, Epson America Inc., Gudel Group AG, KUKA AG, MKS Instruments Inc., Suruga, and Yamaha Motor Co., Ltd., among others. Several other players are also functioning in the market worldwide, contributing significant revenue shares year on year.

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2019: Launch of Motion Control Motor for 3-axis Cartesian Robot

2018: ABB Ltd. announced an investment of US$ 150 Mn in Shanghai, China

2019: Epson Signs Smith Power Systems as Distributor in South Central U.S.

2018: Bosch Rexroth introduced the EcoLift EL 2

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical devices, Technology, Media and Telecommunications, Chemicals, and Materials.

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