Market Research Report
Asia-pacific Industrial Robotics Market Forecast 2021-2028
|Asia-pacific Industrial Robotics Market Forecast 2021-2028|
Published: August 2, 2021
Content info: 170 Pages
Delivery time: 2-3 business days
The Asia-Pacific industrial robotics market is projected to record a CAGR of 10.87% during the forecast period, 2021-2028. The region is considered to be the strongest market in the world for industrial robots. Also, manufacturers are increasingly incorporating robotic automation to enhance output quality and productivity.
South Korea, Taiwan, Japan, China, Australia & New Zealand, Indonesia, Thailand, India, and Rest of Asia-Pacific are evaluated for the Asia-Pacific industrial robotics market growth analysis. According to the World Robotics Report-2020 by the International Robotic Federation (IRF), India was among the top ten countries with the highest industrial robots installations in 2020. For instance, Ola partnered with ABB in February 2021 for automation and robotics solutions for the electric scooter manufacture. Further, ABB established a new robotics facility in July 2020 to supplement the digital transformation of manufacturing in India.
In Taiwan, local manufacturers develop vertical coordinate robots and unitary axial robots but rely on foreign countries for higher-scale robots. These are required to complement the successful robot automation of the Taiwanese industry. Although few research institutes and manufacturers develop high-scale robots, the country imports essential components like decelerators, controllers, server motors, etc., from foreign countries. As a result, production costs are substantial.
Whereas Indonesia has increased the utilization of the industrial robot to surge the production capabilities and innovations in cutting-edge technologies. Moreover, the government is inclined to transform the country into an Industry 4.0 economy. Also, the country has a robust presence of corporations like Yaskawa Electric Indonesia and Epson Indonesia. Such factors contribute to the market growth of South Indonesia, Taiwan, and India.
Some of the eminent firms operating in the market include Kawasaki Heavy Industries Ltd, Nachi Fujikoshi Corporation, Mitsubishi Electric Corporation, Fanuc Corporation, Seiko Epson Corporation, etc.