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A new market research report by Future Market Insights on the industrial robotics market includes a global industry analysis 2014–2018 and an opportunity assessment 2019–2029. The report investigates the industrial robotics market and provides critical insights for the forecast period of 2019-2029.
As per the findings of the report, the global industrial robotics market is projected to indicate substantial growth over the forecast period due to multiple driving factors such as the adoption of the Internet of Things (IoT) in industries and the growing digitalization of the manufacturing industry across geographies.
https://www.futuremarketinsights.com/reports/sample/rep-gb-285
The global industrial robotics market was valued at ~US$ 17 Bn in 2018 and is estimated to increase at a CAGR of ~18% between the forecast periods of 2019 and 2029. This growth is driven by the increasing applications of industrial robotics in the automotive industry, electrical/electronics industry, and auxiliary industry, among others.
East Asia is estimated to hold a significant market share in terms of value in the global industrial robotics market. However, the South Asia market is projected to project lucrative growth in the global industrial robotics market over the forecast period of 2019-2029. This growth is propelled by the rapid growth in the factory automation rate in countries of South Asia and East Asia such as China, India, and Vietnam, among others. The economic condition of these countries has been evolving positively.
Furthermore, macroeconomic factors such as growing population, rapid industrialization, and urbanization, are some of the factors driving the growth of the industrial robotics market. The automotive industry in East Asia has gained a considerably positive momentum over the past years, which has increased the adoption of SCARA robots and articulated robots in the manufacturing process and is estimated to indicate the rewarding growth of the industrial robotics market in East Asia region.
Automotive Industry to Remain Key End-use Industry of Industrial Robotics
The global market of industrial robotics has been segmented on the basis of different types of industrial robots, their multiple applications, end use industries, and regions such as North America, South Asia, Europe, East Asia, and the Rest of the World.
By product type, the articulated robots segment is estimated to hold a significant share of the global industrial robotics market in terms of value. This has mainly resulted from the rising productivity in manufacturing processes and improving quality of products. On the basis of end use, the automotive industry is estimated to hold substantial market share of the industrial robotics market in terms of value. This is driven by digitalization of manufacturing processes. Moreover, it is expected that the application of industrial robotics in the electrical/electronics industry will be prominent throughout the forecast period.
On the basis of application, the handling operations segment is projected to consume majority share of the global industrial robotics market value. Also, the welding segment is estimated to project lucrative growth in the industrial robotics market over the forecast period.
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Industrial Robotics Market: Vendor Insights
The report indicates some of the prominent market players, who are recognized as leaders in the global industrial robotics market. These key market players in the global industrial robotics market are Yaskawa Electric Corporation, FANUC Corporation, Kawasaki Heavy Industries Ltd, Kuka AG, Mitsubishi Electric, Teradyne Inc. (Universal Robots), ABB Ltd., Yamaha Motor Co., Ltd., Hirata, Corporation, and Denso Wave Incorporated, among others.
Key players operating in the global industrial robotics market are focusing on research and development to improve their product portfolios. In addition to this, players are investing in collaboration, mergers, and acquisitions to expand their product portfolio and strengthen their global footprint. For instance:
Explore wide-ranging Coverage of FMI’s Industrial Automation Market Insights Landscape :-
Electric Motors Market :- The Electric Motor Market to exhibit year-on-year (YoY) growth of 4.2% in 2021 to total 1.2 billion units. As per the report, demand in the DC motors segment will grow by 2.2% to 339 million units in 2021, while the AC Motors segment was up 5.1% to 837 million units.
Stainless Steel Welded Pipes Market :- The stainless steel welded pipe market has been witnessing impressive growth since the past few years. This growth trend is projected to continue due to the increase in demand from the construction and automotive sectors.
Robotic Gripper Market :- Sales in the global robotic gripper market are slated to top US$ 1.6 Bn in 2022. Expanding at a healthy 9.8% CAGR, the market size is projected to total US$ 2.8 Bn by 2028.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End-Use over the next 10-years.
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The post Industrial Robotics Market manufacturers | ABB Ltd., Yamaha Motor Co., Hirata, Mitsubishi Electric appeared first on Future Market Insights.
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