According to the new
market research report "Articulated Robot Market by Payload (Up to 16.00 kg, 16.01–60.00
kg), Function (Handling, Welding, Dispensing, Assembly), Industry (Automotive,
Electrical & Electronics, Metal & Machinery, Food & Beverages), and
Geography - Global Forecast to 2023", on the articulated robot market, the market is
expected to grow from USD 10.92 Billion in 2018 to USD 23.51 Billion by 2023,
at a CAGR of 16.58% during the forecast period. The growth of the articulated
robot market is driven by factors such as increasing growing investments for
automation in various industries and growing demand from SMEs in developing
countries.
Robots with payload carrying capacity of up to
16.00 kg to capture largest share of articulated robot market in 2018
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.
Articulated robot market for metal and
machinery industry to grow at high rate during forecast period
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 robot market for the metals and machinery industry is expected
to grow at a high rate during the forecast period.
APAC to hold largest share of articulated
robot market during forecast period
Among the 4 regions
considered (North America, Europe, APAC, and RoW) in the report, APAC is
expected to hold the largest share of the articulated robot market during the
forecast period (2018–2023). 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 articulated robot market in APAC. Also, the low
cost of production enables various manufacturers to set up their manufacturing
units in APAC.
The articulated
robot market is currently dominated by players such as FANUC (Japan), ABB
(Switzerland), Yaskawa (Japan), KUKA (Germany), and Mitsubishi (Japan). CMA
Robotics S.p.A. (Italy), Anhui Efort Intelligent Equipment (China), Precise
Automation, Inc. (US), and F&P Robotics AG (Switzerland) are some of the
emerging players in the articulated robot market.
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