Market Research Report
Industrial Robots Global Market Report 2022
|Industrial Robots Global Market Report 2022|
The Business Research Company
Content info: 300 Pages
Delivery time: 2-10 business days
“Industrial Robots Global Market Report 2022” from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global industrial robots market.
This report focuses on industrial robots market which is experiencing strong growth. The report gives a guide to the industrial robots market which will be shaping and changing our lives over the next ten years and beyond, including the market's response to the challenge of the global pandemic.
Where is the largest and fastest growing market for the industrial robots? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The Industrial Robots market global report” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider industrial robots market, and compares it with other markets.
Major players in the industrial robots market are: ABB, Yaskawa, Kuka, Fanuc, Mitsubishi Electric, Kawasaki Heavy Industries, Denso, Nachi Fujikoshin, Epson, and Durr.
The global industrial robots market is expected to grow from $46.82 billion in 2021 to $49.93 billion in 2022 at a compound annual growth rate (CAGR) of 6.6%. The market is expected to grow to $64.56 billion in 2026 at a compound annual growth rate (CAGR) of 6.6%.
The industrial robots market consists of sales of robotic products and related services for the performance of a specific task. A robot is a programmable, mechanical device generally used in place of a person to perform dangerous or repetitive tasks with a high degree of accuracy. A robot has its control system and is not controlled by a machine.
The main types of industrial robots are articulated robots, linear robots, cylindrical robots, parallel robots, scara robots, and other robots. Linear robots are a form of industrial robot that has two or three main axes that move in a straight line rather than rotate and work at right angles to each other. The three sliding joints correspond to wrist movement: up and down, back and forth, and in and out. The various applications of industrial robots included pick and plane, welding and soldering, material handling, assembling, cutting and processing, and other applications. The various end-user industries involved are automotive, electrical and electronics, healthcare and pharmaceuticals, food and beverages, rubber and plastics, metals and machinery, and other end-user industries.
The Asia Pacific was the largest region in the industrial robots in 2021. Western Europe was the second largest region in the industrial robots market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The shortage of skilled workers is contributing to the growth of the industrial robots market. As there is an increase in production requirements and due to high demand manufacturers are not able to fulfill the supply due to a shortage of skilled labor. Shortage of skilled labor exists due to two main reasons, the presence of unskilled workers and skilled workers but not available for work. According to the Department of Labor, as of January 2020, the US economy had 7 million job openings, but only 5.6 million people were looking for work. Producers to maintain high supply are thus opting towards the installation of robots. Industrial robots increase the overall productivity, efficiency, and effectiveness of the company. Therefore, the shortage of labor gives rise to other opportunities for the addition of robots in the workforce.
High purchase and installation costs of industrial robots are expected to limit the growth of the industrial robots market. A robot installation is very costly as it is not only for the purchase of the robot but also for integration, programming, and maintenance. This is a major challenge for Small and Medium-size enterprises (SME) as they produce in low volumes and returns on investment will be a challenge. Moreover, fast-changing consumer preferences will also result in customization of a machine which will be again hard for SMEs to do so. According to RobotWorx, an industrial robot manufacturer's cost of an average new industrial robot ranges from $50,000 to $80,000 whereas it can go up to $100,000 to $150,000 as application specifics are added. Therefore, the high purchase and installation of industrial robots are expected to limit the growth of the industrial robots market.
Automated mobile robots (AMR) is one of the recent trends of the industrial robots market. AMR is a robot that is designed to move materials across a plant floor or through a warehouse without the aid and direction of a human worker. Floor cleaners, forklifts, pallet movers are examples of types of AMRs. For instance, Fetch Robotics, a California-based firm handles heavy loads in its warehouse by using AMR. Fetch Robotics cloud computing program enables an operator to scale and control all operations with the click of a button. It eliminates employee risk for injury and increases the efficiency of their overall operations.
In March 2021, Accenture, a multinational company having specializations in information technology and consulting, based out of Irelands has announced the acquisition of Pollux for an undisclosed amount. As a result of this acquisition, Accenture intends to witness the tangible benefits of full integration of information technology and operations technology, which will help Accenture's manufacturing clients. Pollux Robotics is a Brazilian company that creates industrial robots.
The countries covered in the industrial robots market are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.