Industrial Robotics Market Overview
Increasing focus on automation in industries, growing demand for industrial robots from small and medium enterprises (SMEs), and enhanced operational efficiency offered by industrial robots are the key factors driving the market growth, globally. Moreover, high labor costs, lack of skilled human workforce, and increase in investments in R&D activities by government are some of the other factors contributing to growth of the market.
An industrial robot is an automatically controlled, reprogrammable, multipurpose manipulator programmable in three or more axes, which may be either mobile or fixed used for industrial automation applications. Industrial robots are designed to move materials and perform varied programmed tasks in manufacturing industry.
Based on offering, the industrial robotics market can be segmented into hardware, software, and services. Among these, hardware category held the largest share in the market. The hardware category is further segmented into controllers, sensors, drives, robotic arm, and end effector. Among these, end effector is expected to register fastest growth in the market, supported by its increasing use in consumer electronics assembly.
In terms of type, the industrial robotics market can be categorized into articulated, cartesian, cylindrical, polar, selective compliance assembly robot arm (SCARA), delta, and others; wherein ‘others’ include linear and dual-arm robots. Among these, articulated robot category expected to register fastest growth in the market. This can be attributed to the increasing use of articulated robots in various industrial applications, such as welding, assembly, sealing, and cutting.
Based on payload, industrial robotics market has been classified into small-medium payloads, large payloads, and extra-large payloads. Of these, small-medium payload robots are used in assembling watches or cameras, while large payload robots are used in automotive, transportation, and other heavy industries for material handling.
In terms of application, the industrial robotics market is segmented into material handling, welding, assembling, material removal, painting, inspection, machine tending, sealing/dispensing and others; wherein ‘others’ include milling, ironing, and coating. Among these, material handling applications held the largest share in the market; owing to increase in demand for industrial robots from automotive industry for handling heavy materials used in automobiles.
On the basis of industry, industrial robotics market is classified into automotive, electrical & electronics, chemicals, healthcare, rubber & plastics, metal & machinery, food & beverage, e-commerce, pharmaceuticals and others; wherein ‘others’ include construction, semiconductor, aerospace, agriculture, and oil & gas. Automotive industry held the largest share in the market in 2017, owing to growing demand for robots in assembly of vehicles. However, the market for food and beverage is expected to grow faster in the forecast period.
Based on geography, Asia-Pacific (APAC) held the largest share in the industrial robotics market and is expected to continue to hold the largest share during the forecast period. This can be attributed to increasing adoption of industrial robots by small and medium scale manufacturers in the region. During the forecast period, continued increase of robot installations expected in countries such as India, China, South Korea, and Japan. For instance, it has been recorded that in 2017, China purchased 141,000 industrial robots, an increase of 58.1% year-on-year.
Industrial Robotics Market Dynamics
Growth Drivers
The key factors driving the industrial robotics market include need for automation in manufacturing industry to reduce labor costs and enhance productivity, lack of skilled human workforce, and increase in investments in R&D activities by governments. Nowadays, there is huge requirement for automation in manufacturing industries, especially in automotive and electrical and electronics manufacturing. Automation helps to reduce production cost, increase production rate, and improve the quality of products manufactured. Further, R&D investment is increasing in countries such as the U.K., India and China. For instance, China is expected to spend around $29 billion on robotic systems including industrial robots by 2020.
Opportunities
One of the key opportunities in the industrial robotics market is the use of artificial intelligence (AI) to improve productivity and accuracy through predictive maintenance. Applying AI to industrial robots create opportunities for manufacturers in order to maximize productivity and efficiency. Most of the large industrial robot manufacturers offer customer services using AI to analyze data from robots in real time to predict when a robot requires maintenance, that enables the manufacturers to avoid machine downtime.
Industrial Robotics Market Competitive Landscape
The intensity of rivalry in industrial robotics market is high, with several market players increasingly focusing on launching products in market. With rise in automation, the demand for robots is high in manufacturing industry. Robots are increasingly being used for assembly of aircraft engine components, packaging of commercial products, and in agriculture.
Moreover, client win is another major activity in industrial robotics market. For instance, in October 2018, KUKA AG received contract from the U.S. automotive company to install highly flexible manufacturing system to produce body components for mid-size vehicle in sport utility car segment.
Some of the other key players operating in the industrial robotics market include ABB Ltd., FANUC Corporation, Yaskawa Electric Corporation, Kawasaki Heavy Industries Ltd., Mitsubishi Electric Corporation, Panasonic Welding Systems Co. Ltd., Toshiba Machine Co. ltd., and OMRON Corporation.
The report will also provide a country-wise analysis. Some of the major countries that are covered in the report include the U.S., Canada, China, Japan, India, South Korea, Saudi Arabia, U.A.E., Italy, Germany, U.K., Spain, France, Russia, Brazil, Mexico, Turkey, South Africa.
