[151
Pages Report] The articulated robot market (excluding the cost of robotic peripherals,
software, and system engineering) is expected to grow from USD 9.36 Billion in
2017 to USD 23.51 Billion by 2023, at a CAGR of 16.58% during the forecast
period. The growth of the market is driven by factors such as increasing
growing investments for automation in various industries and growing demand
from SMEs in developing countries. The objectives of the study also include:
Robots
with payload carrying capacity of up to 16.00 kg are expected to hold the
largest share of the articulated robot market in 2018 owing to increased
payload capacity, work envelope, reliability, and speed, articulated robots are
used in several applications, including welding, painting, assembly, packaging,
palletizing, depalletizing, machine tending, sealing, gluing, cutting,
cleaning, deburring, die casting, grinding, polishing, material handling, case
packing, pick and place, pre-machining, and press brake tending. However, the
market for robots with payload carrying capacity of 16.01–60.00 kg is expected
to grow at the highest rate during the forecast period.
Among
all industries, the metals and machinery industry has been among the versatile
industries for automation solutions. It performs several functions ranging from
small details to higher performance in complex tasks. With growing demand for
machines in industries, such as agriculture, packaging, and manufacturing, for
various applications, the articulated robots market for the metals and
machinery industry is expected to grow at the highest rate during the forecast
period. However, the automotive industry is expected to hold the largest share
of the articulated robot market in 2018.
Owing
to the high rate of adoption of articulated robots in the automotive industry
for handling heavy automotive parts and in the metal and machinery industry for
handling heavy metal sheets and components, the handling function is expected
to hold the largest share of the articulated robot market in 2018. However, the
market for processing function is expected to grow at the highest CAGR during
the forecast period.
Among
all the regions, APAC is expected to hold the largest share of the articulated
robot market in 2018; the market in this region is expected to grow at the
highest CAGR during the forecast period. Adoption of articulated robots by
countries such as China, India, Japan, and South Korea for a myriad of
industrial applications contribute to the growth of the market in APAC. Also,
the low cost of production enables various manufacturers to set up their
manufacturing units in APAC.
The
articulated robot market ecosystem comprises robot manufacturers such as ABB
(Switzerland), KUKA (Germany), Mitsubishi Electric (Japan), Fanuc (Japan),
Kawasaki Heavy Industries (Japan), Denso (Japan), Omron Adept Technologies
(US), Nachi-Fujikoshi (Japan), Yaskawa (Japan), and Seiko Epson (Japan).
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