NEWARK, Del, Dec. 14, 2023 (GLOBE NEWSWIRE) -- According to a Future Market Insights (FMI) report, the global glass handling robot market is anticipated to reach a valuation of US$ 826.2 million in 2024, driven by customized solutions for small and medium enterprises. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 4.8% between 2024 and 2034, and reaching a total valuation of approximately US$ 1,270.9 million by 2034.
One of the major factors contributing to the growth of the market is expansion of the solar energy industry, which is expected to lead to increased demand for glass handling robots in the production of solar panels and related components, with the growing emphasis on renewable energy.
Continued emphasis on human robot collaboration and safety standards can drive the development of glass handling robots designed to work seamlessly with human operators in shared workspaces. Changes in the types of glass used in manufacturing, as well as advancements in glass production techniques, are anticipated to necessitate robots that can adapt to handle new materials and manufacturing processes.
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Government initiatives supporting the adoption of automation and robotics, along with financial incentives and subsidies for companies investing in advanced technologies, are expected to positively impact the growth of the glass handling robot market.
The integration of remote monitoring and predictive maintenance features in glass handling robots can enhance their reliability and reduce downtime, offering additional value to end users. The use of glass in electronic devices, such as smartphones, tablets, and displays, is on the rise. Glass handling robots may find applications in the manufacturing and assembly processes of these electronic devices.
The growing focus on green building standards may lead to increased use of energy efficient glass materials. Glass handling robots can contribute to the efficient handling and installation of these materials. Integration of glass handling robots with IoT technologies can enable real time monitoring, data analytics, and predictive maintenance, enhancing overall operational efficiency and reducing downtime.
Advancements in 3D printing technology for glass manufacturing can create opportunities for specialized glass handling robots capable of working with 3D printed glass components. The trend towards customized and personalized products, including glass products, is anticipated to propel the need for flexible and adaptable glass handling solutions to meet varying design specifications.
Key Takeaways from the Market Study:
- Global glass handling robot market was valued at US$ 789.6 million by 2023-end.
- From 2019 to 2023, the market demand expanded at a CAGR of 4.4%.
- The market in India is expected to expand at a CAGR of 5.5% through 2034.
- By product type, the articulated robot segment to account for a share of 28.0% in 2024.
- From 2024 to 2034, glass handling robot market is expected to flourish at a CAGR of 4.8%.
- By 2034, the market value of glass handling robot is expected to reach US$ 1,270.9 million.
“The adoption of the Robot as a Service model is expected to make glass handling robots more accessible to a wider range of businesses, particularly smaller enterprises that may prefer a subscription based model over upfront capital expenditures,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competitive Landscape:
Prominent players in the glass handling robot market are –
- ABB
- Yaskawa Electric Corporation
- Midea Group (Kuka)
- Fanuc Corporation
- Kawasaki Heavy Industries
- Epson Robots
- Stäubli
- Nachi Fujikoshi Corporation
- Comau
- Omron Adept Technology Inc.
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Recent Developments:
- In 2021, FANUC America, a prominent provider of CNCs, robotics, and ROBOMACHINEs, unveiled the LR Mate 200iD/14L, marking the tenth model iteration within the widely acclaimed LR Mate series of tabletop industrial robots. Introduced nearly 30 years ago, the LR Mate series has emerged as one of the top selling products of FANUC, with an impressive installation base exceeding 70,000 units globally.
- In 2020, Yaskawa Motoman introduced the HC20XP collaborative robot, featuring a substantial 20 kg payload capacity and a maximum reach of 1,700 mm. Tailored for diverse applications such as material handling, machine tending, and assembly tasks, the HC20XP is designed to offer versatility and efficiency. The HC20XP, as an IP67 rated cobot, is well equipped to operate continuously in environments prone to dampness or splashes
More Valuable Insights Available:
Future Market Insights offers an unbiased analysis of the global glass handling robot market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the glass handling robot market, the market is segmented on the basis of product type (articulated robots, gantry robots, delta robots, SCARA robots, and other types), and end use (automotive, electronics, and other end use), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
Glass Handling Robot Market Segmentation Analysis:
By Product Type:
- Articulated Robots
- Gantry Robots
- Delta Robots
- SCARA Robots
- Other Types
By End Use:
- Automotive
- Electronics
- Other End Use
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
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About the Industrial Automation Division at Future Market Insights:
The industrial automation team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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