Global Industrial Robotics Market Set for Rapid Growth, To Reach Around USD 42.0 Billion by 2020
Deerfield Beach, FL -- (SBWIRE) -- 04/24/2017 -- According to the report, global demand for industrial robotics was valued at USD 30.0 billion in 2014, and is expected to reach USD 42.0 billion in 2020, growing at a CAGR of 6.0% between 2015 and 2020.
Zion Market Research has published a new report titled "Industrial Robotics Market By Function (Materials Handling, Milling, Cutting & Processing, Soldering & Welding, Painting & Dispensing, Assembling & Disassembling and Others), By Type (Cartesian, Articulated, Cylindrical, SCARA and Others), for Electrical & Electronics, Automotive, Machinery, Chemical, Rubber & Plastics, Food & Beverages, Metals, Precision & Optics and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020."
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Industrial robots are fully automatic dynamic machines used in various industries such as drilling, material handling, wielding, and molding among others. These machines are multipurpose and programmed to control various huge and complex tasks. These machines are reprogrammable and have the ability to perform the difficult tasks as per programmed with very accurate and great speed. These robots are defined by ISO 8373 and they aid to save time, money and labors requirement. Industrial robots are widely used in various applications includes welding, painting, ironing, assembly, pick and place, palletizing, product inspection and testing.
Material handling was dominating segments and accounted for over 35% share of total market in 2014. Rapid growth in industrialization contributes to continue dominance of material handling segment within the forecast period. Soldering & welding was the second largest function segment contributing to the global industrial robotics market in the same year. Packaging, consumer electronics and electrical industry are expected to witness strong demand owing to increasing demand in Asia- Pacific and Asia Central region.
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Articulated robots were the leading segment and accounted for a notable share in the industrial robotics market in 2014 o 2014. Articulated robots are followed by Cartesian robots. The robots like SCARA robots and cylindrical robots are also anticipated to witness significant growth due to the rising demand for industrial robotics involved in various sectors during the years to come.
Automotive was the largest application market for industrial robotics in 2014. Automotive accounted for over 40% share of the total market revenue generated in 2014. Cost-effectiveness, job-efficiency, and safety are key factors for increasing the use of industrial robotics in this segment. Electrical & electronics manufacturing, food industry, chemical & plastics industry and rubber industry are also some of the important application segments of the global industrial robotics market that are expected to grow during the years to come.
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Asia Pacific was leading region in the industrial robotics market and accounted for over 50% share of the entire revenue generated by market in 2014. In addition, countries in Asia Pacific region like China, Japan and South Korea is emerging in the trade of industrial robotics. However, Japan is a leading market for industrial robotics and is followed by China. Europe and North America are also projected to grow substantially during the estimated period. Attributed to adoption of advanced technology and having strong potential to grow at varies sectors within the forecast period.
Some of the key players for global industrial robotics market includes Daihen Corporation, Denso Corporation, Epson America, Inc., FANUC Ltd., Kawasaki Heavy Industries Ltd., KUKA Robotics Corporation, Mitsubishi Electric Corporation, Nachi Robotic Systems, Inc., Panasonic Corporation, Universal Robots and Yaskawa Motoman Robotics.
The report segments the global industrial robotics market as:
Industrial Robotics Market: Function Segment Analysis
Milling, cutting & processing
Soldering & welding
Painting & dispensing
Assembling & disassembling
Industrial Robotics Market: Type Segment Analysis
Industrial Robotics Market: Application Segment Analysis
Electrical & electronics
Chemical, rubber & plastics
Food & beverages
Precision & optics
Industrial Robotics Market: Regional Segment Analysis
Middle East and Africa
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