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Industrial Robotics Market 2019 Demand Status, Size, Share, Business Plans, New Technologies, Types, Applications, and Forecast by Growth Rate till 2024

Industrial Robotics

The “Industrial Robotics Market” Report 2019-2024 has adopted a systematic way to evaluate the dynamics of the overall market. Industrial Robotics Market reports offers detailed assessment of the Industrial Robotics including enabling technologies, key trends, market drivers, challenges, market landscape, opportunities and competitor strategies.

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Market Overview:

  • The global industrial robotics market was valued at USD 18.05 billion in 2018 and is expected to reach USD 40.75 billion by 2024, at a CAGR of 14.11% over the forecast period (2019 – 2024). Industrial robots play a crucial role in industrial automation, with many core operations in industries being managed by robots. With economic growth across regions, the growth of e-commerce, electronics, and the automotive industry, among others has been on the rise.
  • With the increased demand across economies, product manufacturers are adopting robots to automate some of the repetitive processes. According to the Robotic Industries Association, more than 250,000 industrial robots had been installed in the United States alone, which gives an estimate of the penetration of industrial robots.
  • Robots have been employed in manufacturing units across most of the industries, because of their ability to take up complicated, repetitive tasks with accuracy, even in hazardous environments.
  • Although automating tasks in the industrial set up would replace human labor, the need for people who can manage the robotics and maintain them will be on demand. Industrial workforce, who can maintain hardware and software, apart from designing the automation process, is also required
  • Rising penetration of the IoT and investments in robotics across regions have been major contributors to the growth of the market. For instance, the “Made in China 2025†announcement was aimed at broadly upgrading the Chinese industry by moving toward quality focused and innovation-driven manufacturing.

    Industrial Robotics Market Covers the Following Manufacturers:

  • ABB Ltd.
  • Yaskawa Electric Corporation
  • Denso Corporation
  • Fanuc Corporation
  • KUKA AG
  • Kawasaki Robotics
  • Toshiba Corporation
  • Panasonic Corporation
  • Staubli Mechatronics Company
  • Yamaha Robotics
  • Epson Robots
  • Comau SPA
  • Adept Technologies
  • Nachi Robotic Systems Inc.

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    Key Market Trends:

    Automotive End-User Industry to Hold Major Share

    The growing adoption of automation in the automotive manufacturing process and involvement of digitization and AI are the primary factors driving the demand for industrial robots in the automotive sector.
    In 2017, more than 170,000 robots took part in the production process in the European automotive industry. The growing presence of robots and automation in the European automotive industry is expected to fuel the market for industrial robots further in the region.
    According to the Robotic Industries Association (RIA), in the first quarter of 2018 shipments to the automotive OEM sector were down by 43%, while units shipped to the automotive component industry increased by 42% in North America.
    China has also become, both the world’s largest car market and the world’s largest production site for cars, including electric cars, with much growth potential. There are 27 automotive manufacturing and assembly plants in Malaysia. The growing automotive industry in Asia is also creating a massive opportunity for the global industrial robots market.
    The shifting of the automotive industry toward autonomous and electric vehicles is also creating a massive opportunity for industrial robots.

    North America Region to Hold Significant Share

    According to the Association for Advancing Automation (A3), the North American automation market had set new records very recently. For the first nine months of 2017, 27,294 orders of robots, valued at approximately USD 1.473 billion, were sold in North America.
    Modern manufacturing facilities in North America are relying on new technologies and innovations to produce higher quality products at faster speeds with lower costs. In order to survive in the current competitive scenario, they are implementing more intelligent software and hardware.
    With over five heavy-duty assembly plants, over 540 OEM parts manufacturers, 400 dealerships, and many other automotive-related industries, Canada is the 9th largest vehicle producer in the world, and the automotive sector is the biggest contributor to the manufacturing industry of the country.
    According to the government of Canada, the country’s automotive suppliers export parts globally and are integral to Canada’s automotive sector, which accounts for over USD 34 billion in sales annually.
    The manufacturing industry is estimated to contribute approximately 11% to the Canadian GDP. The manufacturing sector is the largest investor in research and development (R&D) and implementation of new technologies in Canada. The government has also taken many initiatives, such as lowering taxes for new investments, various trade agreements with other countries, investments in new technologies, and many skill-training programs, which have helped the manufacturing sector to boom in Canada.

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    Scope of the Report:

  • An industrial robot is a robot system used for manufacturing. Industrial robots are automated, programmable, and capable of movement on three or more axis. Typical applications of robots include welding, painting, assembly, pick and place for printed security boards, packing and labeling, palletizing, product inspection, and testing, all accomplished with high endurance, speed, and precision.

    Important Points Covered in Industrial Robotics Market Report:

    • Industrial Robotics market gives assessments for the regional level analysis with Production, Consumption, Imports, and Exports.
    • Industrial Robotics market forecasts for a minimum of five years of all the mentioned segments.
    • Industrial Robotics market shares drivers, constraints, opportunities, threats, challenges, investment opportunities.
    • Share constraints for the new entrants in Industrial Robotics market
    • Include manufacturing process, suppliers, price, production and consumption analysis.

    This report covers the following questions:

    • What are the difficulties to showcase development?
    • What will the market estimate be in 2024 and what will the improvement rate be?
    • Who are the major key venders in this market space?
    • What are the drivers and opportunities of Industrial Robotics market?

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    Industrial Robotics Market Covers Following Points in TOC:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Increased Emphasis on Workplace Safety
    4.3.2 Emerging Technologies in Industrial Robots
    4.4 Market Restraints
    4.4.1 Lack of Skilled Workforce
    4.5 Value Chain Analysis
    4.6 Industry Attractiveness Porter’s Five Forces Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Product Type
    5.1.1 Articulated Robots
    5.1.2 Linear Robots
    5.1.3 Cylindrical Robots
    5.1.4 Parallel Robots
    5.1.5 SCARA Robots
    5.1.6 Other Product Types
    5.2 By End-user Industry
    5.2.1 Automotive
    5.2.2 Chemical and Manufacturing
    5.2.3 Construction
    5.2.4 Electrical and Electronics
    5.2.5 Food and Beverage
    5.2.6 Machinery and Metal
    5.2.7 Pharmaceutical
    5.2.8 Other End-user Industries (Rubber, Optics)
    5.3 Geography
    5.3.1 North America
    5.3.2 Europe
    5.3.3 Asia-Pacific
    5.3.4 South America
    5.3.5 Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 ABB Ltd.
    6.1.2 Yaskawa Electric Corporation
    6.1.3 Denso Corporation
    6.1.4 Fanuc Corporation
    6.1.5 KUKA AG
    6.1.6 Kawasaki Robotics
    6.1.7 Toshiba Corporation
    6.1.8 Panasonic Corporation
    6.1.9 Staubli Mechatronics Company
    6.1.10 Yamaha Robotics
    6.1.11 Epson Robots
    6.1.12 Comau SPA
    6.1.13 Adept Technologies
    6.1.14 Nachi Robotic Systems Inc.

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

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