Industrial Robotics Market Size is to Reach $40.00 Billion by 2020 | Million Insights

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Mar 13, 2018, 08:40 ET

FELTON, California, March 13, 2018 /PRNewswire/ --

The global Industrial Robotics Industry was estimated at USD 25.68 billion in 2013 and is expected to reach USD 40.00 billion by 2020. Growing concerns to reduce operational costs by many manufacturing companies is expected to drive the global market growth. Industrial robots are designed to control and automate processes including testing, assembly, packaging, welding, product inspection and painting. Human errors can be minimized, thereby increasing the process efficiency and reliability of the machinery. The growth of the market can be majorly attributed to the adoption of automation through robotics that ensures quality production while meeting market demand as well as the growing demand from small- and medium-scale enterprises in developing countries.

Rising labor costs in many mature economies including U.S. and UK is estimated to drive the global robotics market. Many heavy machinery manufacturers are expected to replace workforce with automation to reduce hiring costs and increase overall production. Automation involves the installation of advanced technologies and sensors, such as cloud communications and wireless, to monitor and control the entire facility throughout the day.

The prerequisite to comply with governmental regulations and to reduce costs has encouraged the use of industrial robots in heavy industries market. For example, the average labor costs in China have been rising by nearly 10% yearly. The use of robots in industries has helped to reduced workers idle time by 80% and save more than 50% of the production cost, leading to significant cost savings. The use of industrial robots for tasks such as welding and sheet handling in heavy industries has also proved the efficiency of the robotic systems in terms reduction in cycle time and raw material wastage.

Implementation of robotic in heavy industry sector is expected to increase the operational flexibility of end users for addressing various product requirements. Robots are used to handle repetitive tasks and are also ideal for multitasking. They are usually deployed in accident prone areas in different production lines.

Browse 141 page research report with TOC on "Global Industrial Robotics Market" at: https://www.millioninsights.com/industry-reports/industrial-robotics-market

Based on the application type, the global market has been segmented into industrial welding robots, material handling and assembly line robots. Material handling is expected to account for largest market share owing to increasing demand for efficient handling if heavy machinery under severe working conditions. These robots can handle heavy payloads and also are very useful in huge machine components which cannot be lifted manually. Welding robots can be attributed as the fastest growing segment and is widely used in automotive industry for arc welding.

On the basis of end user, the industrial robotics market can be segmented into construction machinery, metalworking machinery and other heavy machinery. The metalworking machinery is estimated to have the largest market. This segment involves conventional machine tools and computer numerical control machine manufacturing and is expected to collaborate with robot-machine for efficient and smooth functioning of machinery. Construction machinery is anticipated to have high growth rate over the forecast period owing to industrialization and globalization.

The other heavy machinery segment includes textile machinery, engineering machinery, F&B machinery, machinery for consumer durables and paper machinery. High costs, Lack of skilled labor and high necessity to improve production processes have led industries to opt for robots as a solution to their production problems.

There are various types of industrial robots, including Cartesian robots, articulated robots, cylindrical robots and SCARA robots. All The above robots are used in the heavy machinery industry for different processes, including soldering and welding, , assembling and disassembling, handling of materials and processing dispensing, painting, milling, cutting, and other processes. Rapid evolution of technology has also lead in invention of advanced robots such as collaborative robots. These robots are expected to be much safer to handle and can work along with humans, especially during assembly processes.

Global economic growth, rapid industrial development, and urbanization have led to the development of infrastructure projects and commercial establishments worldwide, particularly in Asia Pacific and the Middle East. The U.S. is expected to see highest growth rate over the forecast period. This rapid growth can be attributed to emissions that are expected to fuel the market growth, and the legislations regarding energy efficiency especially in the U.S., as robots are energy efficient and reduce the overall energy consumption and energy costs.

Key industry participants in the global market are Fanuc, ABB, Yaskawa and Kuka. Other Prominent Vendors include, Apex Automation and Robotics, Adept Technology, Denso Robotics, Kawasaki Robotics, Epson Robotics, Mitsubishi Electric, Rethink Robotics, TM Robotics, Nachi Robotic Systems and Universal Robots.

The manufacturing robotics market in the heavy industry is expected that robotics vendors usually take long lead-times to fulfill small-sized orders, and this deters companies from investing in robotics. Small-sized orders arise from customers that have limited cash flows, and this is a challenge for the market.

Browse more market research reports available with Million Insights:

Industrial Robotics Application Outlook (Volume, Thousand Units & Revenue, USD Billion; 2012 - 2020)

• Automotive

• Electrical/Electronics

• Metal/Heavy Machinery

• Chemical, Rubber & Plastics

• Food

• Others

Industrial Robotics Regional Outlook (Volume, Thousand Units & Revenue, USD Billion; 2012 - 2020)

• North America

• Europe

• Asia Pacific

• RoW

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