Cartesian robot Market to Reach US$ 45,840.3 Mn at a CAGR of 11.9% in 2027 | The Insight Partners

Latest market 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 key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments. Increase in use of the cartesian robot in consumer electrical and electronics industry is projected to escalate the cartesian robot market at a CAGR of 11.9%.

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Key Companies: 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.

The Cartesian robot market operates in a highly-competitive marketplace. As leading companies in this market continue to broaden its addressable market, by expanding its current product portfolio, diversifying its 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.

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 the 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. According to Moore's law, the size of the Integrated Circuits (IC) is shrinking in 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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Market Insights
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 innovate, automate, and 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 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 competitive advantage.

Strategic market initiatives such as product news, merger and acquisition, and expansion have positively impacted the growth of the global cartesian robot market. The recent development in the global cartesian robot market is listed below:

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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