The SCARA robot market (including prices of peripherals, software, and system engineering) is expected to grow from USD 6.4 billion in 2019 to USD 10.4 billion by 2024, at a CAGR of 10.3%
NEW YORK, Nov. 6, 2019 /PRNewswire/ --
SCARA robot market projected to grow at a CAGR of 10.3% during 2019–2024
The SCARA robot market (including prices of peripherals, software, and system engineering) is expected to grow from USD 6.4 billion in 2019 to USD 10.4 billion by 2024, at a CAGR of 10.3%. One of the major driving factors for the SCARA robot market is the rising adoption of SCARA robots in the electronics industry. Also, due to the growing need to reduce human efforts and errors in the production process, demand for SCARA robots is increasing. However, high overall installation cost for low volume production acts as a key restraining factor for the market growth.
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Market for robots with payload capacity ranging 5.01–15.00 kg to grow at highest CAGR during forecast period
SCARA robots with payload capacity ranging 5.01–15.00 kg are mainly used for applications such as handling, assembly, and packaging. These robots are mainly adopted in the food & beverages; plastics, rubber, and chemicals; and precision engineering and optics industries. In the food & beverages industry, these SCARA robots are typically used in food processing applications as they help prevent food contamination. These robots are used for loading and unloading application, specifically to unload the molding machine in the plastics industry. Increasing demand from food & beverages; plastics, rubber and chemicals; and precision engineering and optics industries for food handling and packaging applications is expected to propel the demand for SCARA robots with payload capacity ranging 5.01–15.00 kg.
Processing application to grow at highest CAGR from 2019 to 2024
Processing application is expected to grow at the highest CAGR during the forecast period.SCARA robots are highly beneficial for various processing applications.
Processing adds value to the product so as to enhance its appearance and marketability.In robotic processing operations, a SCARA robot controls a tool through its arm to perform a process on the work part.
Also, SCARA robots are increasingly used in the medical industry for specimen processing applications. Many clinical laboratories are facing a shortage of trained microbiologists, which, in turn, offers opportunities for adopting SCARA robots in clinical laboratories; this is expected to propel the demand for SCARA robots in processing applications in coming years.
Market in Europe to grow at significant CAGR during forecast period
The market in Europe is expected to grow at the highest CAGR during the forecast period.In Europe, automotive is the leading industry adopting SCARA robots, along with other industries such as metals & machinery, food & beverages, and electrical & electronics.
One of the key factors driving the growth of the SCARA robot market is strong interdisciplinary research along the value chain of robotics in Europe. The growing demand from the automotive industry and improving electrical & electronics and metals & machinery sectors in Europe are expected to drive the SCARA robot market during the forecast period.
In the process of determining and verifying the market size for several segments and subsegments gathered through the secondary research, extensive primary interviews have been conducted with key industry experts in the SCARA robot marketspace. The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 = 40%, Tier 2 = 40%, and Tier 3 = 20%
• By Designation: C-level Executives = 35%, Directors = 25%, and Others = 40%
• By Region: North America = 40%, APAC = 30%, Europe = 25%, and RoW = 5%
The report profiles key players in the SCARA robot market with their respective market ranking analysis. Prominent players profiled in this report are Seiko Epson (Japan), Yamaha Motor (Japan), YASKAWA (Japan), Denso (Japan), Stäubli (Switzerland), Mitsubishi Electric (Japan), Kawasaki Heavy Industries (Japan), ABB (Switzerland), Toshiba Machine (Japan), Comau (Italy), Nachi-Fujikoshi (Japan), KUKA (Germany), FANUC (Japan), Omron Adept (US), Durr (Germany), Hiwin Technologies (Taiwan), Janome (Japan), Hirata (Japan), ADTECH (China), Delta Electronics (Taiwan), Fisnar (US), Gridbots (India), Japan Unix (Japan), GOOGOLTECH (Hong Kong), and Innovative Robotics (US).
Research Coverage:
This research report categorizes the global SCARA robot market based on payload capacity, application, industry, and geography.The report describes the major drivers, restraints, challenges, and opportunities pertaining to the SCARA robot market and forecasts the same till 2024.
Also, the report consists of our proprietary platform called Micro-Quadrant wherein we have analyzed the top 25 companies in the SCARA robot market, based on their business strategies and product offerings, and have placed them into four different quadrants, namely, Visionary Leaders, Innovators, Dynamic Differentiators, and Emerging Companies.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the SCARA robot market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product developments and launches, partnerships, and mergers and acquisitions.
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