PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250702
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250702
According to Stratistics MRC, the Global Articulated Robots Market is accounted for $21.94 billion in 2022 and is expected to reach $61.01 billion by 2028 growing at a CAGR of 18.58% during the forecast period. A robot that can be programmed and has rotary joints to enable full range of motion is referred to as an articulated robot. It is frequently used in a variety of industrial processes, including material handling, welding, dispensing, assembling, cutting, loading/unloading, and painting. Robots with articulation improve operational effectiveness while completing difficult tasks and are capable of handling bulky items that would be dangerous or challenging for a human to handle.
According to the International Federation of Robotics, the estimated annual industrial robots installation in the North American region reached 54,000 units in 2019 and is expected to reach 69,000 by 2022.
Increasing usage in automotive industry
The automotive industry uses articulated robots the most frequently because it handles a wide range of manufacturing and assembly tasks, including welding, cutting, painting, and other operations. Additionally, the use of these articulated robots is crucial for boosting output, efficiency, and productivity in the automotive sector as well as for lowering energy consumption. Automobile demand is continuously rising, and as disposable income rises in areas like Asia-Pacific, the need for automation also rises, fueling demand for articulated robots.
High cost of reconfiguring robots
Despite the widespread use of articulated robots in SMEs, barriers still stand in the way of their application to low-volume manufacturing. Robot reinstallation and reconfiguration are expensive for low-volume production. Robots that have been repaired, on the other hand, are less expensive. In addition, the requirements for reach, workspace, and payload restrictions change as robot usage develops. All of these issues raise the risk of market growth hindrance for low-volume manufacturing.
Emergence of collaborative robots
To protect workers, large industrial robots lift heavy payloads inside fences while working. Vendors are working extremely hard to improve these robots' ability to collaborate, which will lead to a rise in their popularity among business players. Several fittings, including paint-spray heads, mechanical grippers, welding heads, vacuum grippers, and electromechanical grippers, are included with these robots. As a result of these robots' lower price tags and growing popularity among industry players, the global market for articulated robots is expected to grow over the course of the forecast period.
Shortage of skilled labour
Robotic technology is a cutting-edge way to carry out industrial tasks precisely and more quickly. Collaboration between this technology and skilled industrial workers who can comprehend the data transfer between robots and the assembly line is necessary. Robotic systems and data acquisition systems are being increasingly integrated by manufacturers for data analysis. However, the workforce must be knowledgeable enough to draw conclusions in order to actually benefit from these systems. However, the actual benefit of such systems is limited by a lack of knowledge and expertise in data analysis, which is restricting the market's growth.
Due to COVID-19, the manufacturing sector has seen a significant drop in revenue and profits, which has resulted in significant staff reductions and a loss of overall industrial production activities. The pandemic had an impact on the local economy and supply chain operations in various end-user industries. Governments from different nations declared nationwide lockdowns to stop the spread of the disease, which led to the temporary closure of the production facilities of end-user industries like electrical and electronics, automobiles, and heavy machinery, which reduced the use of articulated robots.
The handling segment is expected to be the largest during the forecast period
Due to the widespread use of articulated robots in the metal and machinery sector for handling heavy metal sheets and components as well as the automotive industry for handling heavy automotive parts, the handling segment is anticipated to account for the largest share of the articulated robot market throughout the forecast period. Additionally, a major factor fueling the segment's expansion is the rising demand for electric vehicles on a global scale.
The automotive segment is expected to have the highest CAGR during the forecast period
The automotive segment is anticipated to experience the highest CAGR during the forecast period. Because it is used to build, install, and manage software robots that mimic human movements while interacting with digital systems and software, the automotive industry has been extremely helpful to the extent of the global articulated robot market. Additionally, the market is expected to experience tremendous growth owing to the booming automotive sector.
Region with largest share:
The North American region is estimated to hold largest market share for Articulated Robots over the forecast period. One of the world's biggest markets and one of the leading innovators and pioneers in the use of robotics is the North American region. In order to produce goods of a higher caliber more quickly and cheaply, modern manufacturing facilities in the North American region have been relying on new technologies and innovations. They are using more intelligent software and hardware to improve their production capabilities in order to survive in the current competitive environment. The widespread adoption of robots across various industries is the main driver of the market's expansion.
During the forecast period, Asia Pacific region is anticipated to grow at the highest CAGR. The rise in the market for articulated robots is largely attributed to the presence of seasoned rivals in the area, particularly in countries like China, Japan, and India. The low labour costs and low production costs also make it easier for different industries to set up manufacturing facilities, which will support the expansion of the articulated robot market in the region.
Some of the key players profiled in the Articulated Robots Market include ABB Ltd, Aurotek Corporation, Cassioli S.r.l , Daihen Corporation, Denso, Engel, Fanuc Corporation, GSK, HIWIN, Kawasaki Heavy Industries Ltd, KUKA Aktiengesellschaft, Mitsubishi Electric Corporation, Nachi-Fujikoshi, OMRON Corporation, Seiko Epson Corporation, SIASUN, Stubli International, Toshiba Machine Co. Ltd, Triowin, Yamaha Motor Co. Ltd and Yaskawa Electric Corporation.
In March 2022, Geek+, an autonomous mobile robot manufacturer, and Bosch Rexroth, a drive and control technology supplier, struck a strategic channel partnership for North America.
In March 2022, ABB is expanding its offering of big robots for challenging industrial applications with the addition of two new robot classes. ABB's IRB 5710 and 5720 robots deliver increased productivity and enhanced performance with higher uptime for applications such as electric vehicle (EV) manufacture, foundry, forging, rubber, plastics, and metal fabrication, thanks to improved speed, accuracy, flexibility, and a more robust design that includes integrated process cabling.
In January 2022, ABB, an automation specialist, and HASCO, China's biggest automotive components supplier, announced the formation of a joint venture to push China's automotive industry's next generation of smart production.
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