Dublin, Oct. 09, 2019 (GLOBE NEWSWIRE) -- The "Industrial Robotics Market by Type (Articulated Robots, Collaborative Robots), Application (Handling, Processing, Dispensing), Industry (Automotive, Electrical & Electronics, Metals & Machinery, Food & Beverages) and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The industrial robotics market size (including the prices of peripherals, software, and system engineering) is expected to grow from USD 48.7 billion in 2019 and is projected to reach USD 75.6 billion by 2024; it is expected to grow at a CAGR of 9.2% during the forecast period.
- This research report categorizes the global industrial robotics market based on type, application, industry, and geography.
- The report describes the major drivers, restraints, challenges, and opportunities pertaining to the industrial robotics market and forecasts the same till 2024.
- Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the industrial robotics ecosystem.
- It also includes pricing information about the key segments and various products offered.
A shortage of skilled labor, especially in developed countries, is driving the further use of automation, and the growing popularity of collaborative robots is driving the industrial robotics market. This is also driving the need for collaborative robots across all industry segments; ranging from established industries such as automotive, as well as small and medium enterprises (SMEs). Thus, manufacturers are turning to automation to drive down manufacturing costs and to keep their cost advantage in the market.
Automation in the electronics industry presents an excellent growth opportunity for both traditional and collaborative industrial robots in the coming years, especially in the APAC region where manufacturers are looking to automate their production processes further.
Collaborative industrial robots market to grow at higher CAGR during the forecast period
Collaborative robots can be programmed offline by hand guidance. The ease of use and low cost of deployment compared to traditional industrial robots is attracting small businesses engaged in low volume production who have limited investment capital. Their flexibility to easily adapt to different tasks makes them appealing to many industries and enable faster return on investment (ROI).
Collaborative industrial robots are gaining traction not only in SMEs but are replacing traditional industrial robots in a few cases. Rising wages, shortage of skilled workers, and tighter margins pushing SMEs to automate and the ease of deployment of collaborative robots is contributing to its huge growth. Most of the new and emerging players in the marketspace are focusing on collaborative robots
Market for food and beverages industry to grow at the highest CAGR from 2019 to 2024
As food manufacturing gets increasingly complex, both industrial and collaborative robots are being used for both primary and secondary processing applications such as handling, sorting, packaging, and palletizing. As manufacturers aim to become more competitive and look into automation for higher productivity, the market for robots in this industry is expected to grow at a faster rate. Also, due to increasing food safety regulations, manufacturers are looking further into automating various steps of their production process.
Advancements in the end effectors such as soft grippers and specialized vacuum grippers are enabling operations such as handling irregularly shaped objects such as food and vegetables, automated cutting of various meat items and dispensing for confectionaries. Many industrial robot manufacturers now offer food-grade certificates and IP67 rated robots for use on the food industry, which is also helping to facilitate the market growth further.
The market in APAC to grow at highest CAGR during the forecast period
Before 2018, the market in APAC was growing at the fastest rate. However, 2018 saw a decrease in sales on industrial robots due to countries like China seeing a fall in demand in the automotive sector and the adverse effects of the US-China trade war. However, the market in APAC is still expected to grow at the highest CAGR during 2019-2024. Although major countries contributing to the APAC market, such as China experienced a slowdown in growth in 2018, their market share is still significant.
On the other hand, 2018 has witnessed the penetration and sales of industrial robots in developing APAC countries such as India and Taiwan. The electrical and electronics industry is an important driver for industrial robots in APAC, owing to the rising demand for electronic products around the world. Components like computer chips, batteries, and displays that are small and sensitive need to be handled with high speed and high precision. APAC also houses a major number of strong global players in the industrial robotics market.
Apart from APAC, the growth of industrial robots in Europe has remained steady through the years. In Europe, industrial robots are not only relevant for large enterprises, but smaller enterprises as well. Germany remains the largest market in Europe for industrial robots. Government initiatives like Industrie 4.0 and the penetration of IoT and AI are expected to boost robot sales in the coming years.
Key Topics Covered
1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.3.1 Years Considered
1.4 Currency
1.5 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Major Secondary Sources
2.1.1.2 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primaries
2.1.3 Secondary and Primary Research
2.1.3.1 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.2.3 Market Projections
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions and Limitations
2.4.1 Assumptions
2.4.2 Limitations
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in Industrial Robotics Market
4.2 Industrial Robotics Market, By Type
4.3 Traditional Industrial Robots Market, By Type
4.4 Collaborative Robot Market, By Application
4.5 Traditional Industrial Robotics Market in APAC, By Industry vs By Country
4.6 Traditional Industrial Robotics Market, By Country
5 Market Overview
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Growing Demand for Collaborative Robots Across All Industry Segments
5.1.1.2 Anticipated Shortage of Skilled Labor in Manufacturing Industries
5.1.2 Restraints
5.1.2.1 High Cost of Deployment, Especially for SMEs
5.1.2.2 Reduction of Jobs Due to Automation
5.1.3 Opportunities
5.1.3.1 Increasing Automation in the Electronics Industry
5.1.4 Challenges
5.1.4.1 Interoperability and Integration Issues With Industrial Robots
5.2 Value Chain Analysis
5.3 Technology Trends
5.3.1.1 Integration of Vision Systems With Industrial Robots
5.3.1.2 Penetration of IIoT and AI in Industrial Manufacturing
5.3.1.3 Penetration of 5G in Industrial Manufacturing
6 Industrial Robotics Market, By Type
6.1 Introduction
6.2 Traditional Industrial Robots
6.2.1 Traditional Industrial Robots Held Majority Market Share Compared With Collaborative Robots
6.2.2 Articulated Robots
6.2.2.1 Articulated Robots Held Largest Size of Industrial Robotics Market in 2018
6.2.3 Scara Robots
6.2.3.1 Scara Robots to Witness Highest Growth During Forecast Period
6.2.4 Parallel Robots
6.2.4.1 Parallel Robots are Ideal for Moving Small Payloads at Very High Speeds
6.2.5 Cartesian Robots
6.2.5.1 Cartesian Robots have Simple Movements and are Easy to Program
6.2.6 Others
6.2.6.1 Cylindrical Robots
6.2.6.1.1 Cylindrical Robots have Cylindrical Workspace
6.2.6.2 Spherical Robots
6.2.6.2.1 Many Modern Industrial Robots are Based on Principle of Spherical Robots
6.2.6.3 Swing-Arm Robots
6.2.6.3.1 Swing-Arm Robots Consist of Oscillating Arm and are Used for Low-Cost Applications
6.3 Collaborative Industrial Robots
6.3.1 Collaborative Robots have Huge Potential in Industries as They Can Operate Safely Alongside Humans
7 Industrial Robotics Market, By Application
7.1 Introduction
7.2 Handling
7.2.1 Handling Application to Dominate Industrial Robotics Market By 2019
7.3 Assembling and Disassembling
7.3.1 Assembly Application Requires Robots That Can Deliver Speed and Precision
7.4 Welding and Soldering
7.4.1 Robots With Hollow Wrist Designs are Used for Welding
7.5 Dispensing
7.5.1 Gluing
7.5.1.1 Automotive and Electronics Industries Require Highly Precise Adhesive Dispensers
7.5.2 Painting
7.5.2.1 Robots Used for Painting Must Be Explosion and Contamination Proof
7.5.3 Food Dispensing
7.5.3.1 Dispensing Robots Used in Food Industry Must Be Certified
7.6 Processing
7.6.1 Grinding and Polishing
7.6.1.1 Automated Grinding and Polishing Improve Consistency of Finish for Each Workpiece
7.6.2 Milling
7.6.2.1 Robotic Milling is Ideal for Large Workpieces
7.6.3 Cutting
7.6.3.1 Robotic Cutting is Employed in Variety of Industries
7.7 Others
7.7.1 Inspection and Quality Testing
7.7.1.1 Automated Inspection Enhances Repeatability of Inspection Procedures
7.7.2 Die-Casting and Molding
7.7.2.1 Foundry and Forging Robots are Used in Die-Casting and Molding Applications
8 Industrial Robotics Market, By Industry
8.1 Introduction
8.2 Automotive
8.2.1 Automotive Industry Accounted for the Largest Size of Industrial Robotics Market in 2018
8.3 Electrical & Electronics
8.3.1 Scara Robots are Extensively Used in Electrical & Electronics Industry for Handling Applications
8.4 Metals & Machinery
8.4.1 Metals & Machinery Industry to Witness Highest CAGR During Forecast Period
8.5 Plastics, Rubber, & Chemicals
8.5.1 Robotic Molding and Handling is Often Used in Plastics, Rubber, and Chemicals Industry
8.6 Food & Beverages
8.6.1 Food Grade and Ip67 Certified Robots are Often Used in Food & Beverages Industry
8.7 Precision Engineering and Optics
8.7.1 Robotic Buffing and Polishing are A Few Tasks Performed in Precision Engineering and Optics Industry
8.8 Pharmaceuticals and Cosmetics
8.8.1 Robots are Increasingly Being Used in Hospitals and Research Laboratories for Handling and Dispensing Applications
8.9 Others
8.9.1 Industrial Robots are Also Being Used in Small and Emerging Industries Such as Furniture and Sculpting
9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 US Held Largest Share of Traditional Industrial Robotics Market in North America in 2018
9.2.2 Canada
9.2.2.1 Canada is Focusing on Automating and Promoting Growth of Its Electrical & Electronics Industry Using Industrial Robots
9.2.3 Mexico
9.2.3.1 Traditional Industrial Robotics Market in Mexico is Expected to Grow at Highest CAGR During Forecast Period
9.3 Europe
9.3.1 Germany
9.3.1.1 Germany Held Largest Share of Traditional Industrial Robotics Market in Europe in 2018
9.3.2 Italy
9.3.2.1 Italy Held Second-Largest Share of Traditional Industrial Robotics Market in Europe in 2018
9.3.3 France
9.3.3.1 Electric and Hybrid Vehicles Expected to Drive Demand for Robots in Automotive Sector in France
9.3.4 Spain
9.3.4.1 Traditional Industrial Robotics Market in Spain is Projected to Witness Highest Growth in Europe During Forecast Period
9.3.5 UK
9.3.5.1 Political Uncertainty to Affect Import and Export in UK, Impacting Market for Industrial Robots
9.3.6 Rest of Europe
9.3.6.1 Although Having Smaller Market Share, Other Countries in Europe have Good Robot Density
9.4 APAC
9.4.1 China
9.4.1.1 China Held Largest Share of Traditional Industrial Robotics Market in APAC in 2018, Despite Decrease in Shipment in Comparison to 2017
9.4.2 South Korea
9.4.2.1 Electrical and Electronics Industry in South Korea to Drive Market for Industrial Robots
9.4.3 Japan
9.4.3.1 Japan Held Second-Largest Share of Traditional Industrial Robotics Market in APAC in 2018
9.4.4 Taiwan
9.4.4.1 Electrical & Electronics and Metals & Machining Industries in Taiwan to Drive Market for Industrial Robots
9.4.5 India
9.4.5.1 Indian Market for Traditional Industrial Robots is Expected to Grow at Highest CAGR During Forecast Period
9.4.6 Thailand
9.4.6.1 Government Initiatives in Thailand to Boost Demand for Industrial Robots
9.4.7 Rest of APAC
9.4.7.1 Other Countries in APAC have Begun to Embrace Automation and Robotics in Manufacturing
9.5 RoW
9.5.1 Middle East & Africa
9.5.1.1 Automation is Being Adopted Across Various Industries in Middle East & Africa
9.5.2 South America
9.5.2.1 Automotive Industry is Main Driver for Use of Industrial Robots in South American Countries
10 Components of Industrial Robotics System
10.1 Introduction
10.2 Robotic Arm
10.3 End Effector
10.3.1 Welding Gun
10.3.2 Gripper
10.3.2.1 Mechanical
10.3.2.2 Electric
10.3.2.3 Magnetic
10.3.3 Tool Changer
10.3.4 Clamp
10.3.5 Suction Cup
10.3.6 Others (Deburring, Milling, Soldering, Painting Tools, and Screwdrivers)
10.3.6.1 Deburring Tools
10.3.6.2 Milling Tools
10.3.6.3 Soldering Tools
10.3.6.4 Painting Tools
10.3.6.5 Screwdrivers
10.4 Drive
10.4.1 Hydraulic Drive
10.4.2 Electric Drive
10.4.3 Pneumatic Drive
10.5 Controller
10.6 Sensor
10.7 Power Supply
10.8 Motor
10.9 Others
11 Competitive Landscape
11.1 Overview
11.2 Market Share Analysis: Industrial Robotics Market, 2018
11.2.1 Traditional Industrial Robots Market Share Analysis, 2018
11.2.2 Collaborative Robots Market Share Analysis, 2018
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.2 Dynamic Differentiators
11.3.3 Innovators
11.3.4 Emerging Companies
11.3.5 Strength of Product Portfolio (25 Players)
11.3.6 Business Strategy Excellence (25 Players)
11.4 Competitive Situations and Trends
11.4.1 Product Launches
11.4.2 Partnerships and Collaborations
11.4.3 Expansions
11.4.4 Acquisitions
11.4.5 Contracts and Agreements
12 Company Profiles
12.1 Key Players
12.1.1 ABB
12.1.2 Yaskawa
12.1.3 Fanuc
12.1.4 Kuka
12.1.5 Mitsubishi Electric
12.1.6 Kawasaki Heavy Industries
12.1.7 Denso Corporation
12.1.8 Nachi-Fujikoshi
12.1.9 Seiko Epson
12.1.10 DRR
12.2 Other Key Players
12.2.1 Universal Robots
12.2.2 Omron Adept
12.2.3 B+M Surface Systems
12.2.4 Stubli
12.2.5 Comau
12.2.6 Yamaha
12.2.7 IGM
12.2.8 ST Robotics
12.2.9 Franka Emika
12.2.10 CMA Robotics
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