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Industrial Robotics Market Size & Share to Touch USD 119 billion by 2030

Jan 9, 2021 10:12 PM ET

Industrial Robotics Market Size & Share to Touch USD 119 billion by 2030

An industrial robot is a robot device that is employed in manufacturing. Industrial robots are designed, programmed such as it is free to function on three axes or more. Standard robotic applications involve welding, painting, assembly, disassembly, pick-and-place for integrated circuits, labeling and packaging, stacking pallets, material inspection, and testing. All performed with strong endurance, speed, and precision. They can aid in handling materials. Typically industrial robots come in the form of a manipulator’s arm fitted with an end-effector and different sensors. Most commercial industrial robots have very minimal sensory abilities, and activity sequences are set but reprogrammable. For such robots, several specific programming languages are adapted or even created. The focus of current research and development is on activities such as automatic assembly, automatic scheduling, visual guidance, and recovery of errors.

The covid-19 effect on the size of the industrial robotics market is projected to rise from USD 45 billion in 2020 to USD 119 billion by 2030.

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It is anticipated to expand at a CAGR of 15% over the forecast period of 2020-2030. The 2025 forecast is expected to be down by about 3 percent relative to the pre-COVID-19 prediction. The dearth of qualified labor and government and public-private partnerships offering proposals to reduce the adverse effects of COVID-19 are the main driving forces for the industry. While the COVID-19 pandemic hurts market growth until Quarter 2 and Quarter 3 of 2020,  the market is anticipated to rise from 2021 onwards as players on the industrial robotics sector is expected to be able to clear their backlogs until then and begin with new orders. For example, KUKA’s business division Robotics (Germany) had order backlogs totaled US $ 309 million (EUR 276 million) for the year 2019.

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In comparison with other types of industrial robots, articulated robots are in use in a greater range of industries. As their manufacturing processes are highly automated, the automotive sector contributes to the biggest share of articulated robots. Though most companies are affected by the COVID-19 pandemic, during the forecast period, articulated robots are still projected to maintain the largest proportion of the industrial robotics market. Certain robots, such as SCARA and parallel robots, are more complex and specialized than articulated robots and are not as flexible in terms of payload and scope.

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Industrial Robotics Market: Market Dynamics

Driver

Rising demand for collaborative robots

Collaborative robots allow human beings and robots to work efficiently together in open or uncaged conditions. By utilizing collaborative robots, it is possible to involve a human operator and robot in the same system together. Technical specifications ISO 10218 and ISO / TS 15066 describe the requirements for the design of collaborative robots. Collaborative robots are built to ensure protection so that there is no chance of injury and disruption. The absence of cages decreases the space necessary to deploy the robots. Collaborative robots have become more accessible to inexperienced users and are easily manageable.

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Restraint

High deployment costs particularly for small and medium-sized companies

A robot automation program can be daunting, especially for businesses with no previous experience. High capital costs are needed not only for robot purchasing but also for installation, programming, and upkeep. A custom implementation may be required in some cases which further pushes up the total cost. Companies cannot always have the capacity and infrastructure required to deploy the robots. As small and medium-sized enterprises typically engage in low volume production, return on investment (ROI) may pose a problem. The presence of companies engaged in seasonal or inconsistent production schedules further raises the problem. Rapidly evolving customer tastes would require regular reprogramming of robots, as goods need to be revised on an average annually. It results in cost overruns, as product lines and market demand alter dramatically over time and many machines became redundant or obsolete. Over-automation can be troublesome, too.

Top Market Players:

  • Mavenir (US)
  • ABB (Switzerland)
  • YASKAWA (Japan)
  • FANUC (Japan)
  • KUKA (Germany),
  • Mitsubishi Electric (Japan)
  • Kawasaki Heavy Industries (Japan)
  • DENSO (Japan)
  • NACHI-FUJIKOSHI (Japan)
  • EPSON (Japan)
  • Dürr (Germany)
  • Universal Robots (Denmark)
  • Omron Adept (US)
  • b+m Surface Systems (Germany)
  • Stäubli (Switzerland)
  • Comau (Italy)
  • Yamaha (Japan)
  • Franka Emika (Germany)
  • CMA Robotics (Italy)
  • Rethink Robotics (Germany)
  • Techman Robots (Taiwan)
  • Precise Automation (US)
  • Season (China)

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