The Inspection and Maintenance Robot Market Size was valued at US$ 2.4 billion in 2021 and is anticipated to reach at US$ 6.31 billion by 2028, with a healthy CAGR of 14.75%.
Pune, Maharashtra -- (SBWIRE) -- 08/09/2022 -- Inspection and Maintenance Robot Market Scope & Overview:
The Inspection and maintenance Robots are machines that analyze the operation of complicated systems in industries like cleaning, power generation, aviation, and ships. To test complex systems at several locations, test and repair robots may go via ship. Due to the rapid growth of technology, labor risks associated with hazardous regions, environmental and economic safety, and the growing desire for automation, there is an increasing market requirement for robot inspection and maintenance. Monitoring and care also require time-consuming, repetitive tasks. As a result, robots are used to save costs, reduce fatigue, and boost productivity.
As per the market research report by SNS Insider, the inspection and maintenance robot market is projected to cross USD 6.31 billion by 2028, with a CAGR of 14.75% during the forecast period of 2022–2028.
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Major Company profiles included in Inspection and Maintenance Robot Market report are:
- ULC Robotics
- JH Robotics, Inc.
- LEO Robotics
- Superdroid Robots, Inc.
- FARO Technologies, Inc.
- Cognex Group, Shell
- Aetos Group
- Ensign Bickford Industries
- GE inspection Robotics
- Gecko Robotics
- Genesis Systems Group
Drivers, Restraints, Opportunities, and Challenges
With the rising use of robots in emerging nations for safety reasons and the low cost of inspection utilizing robotic technology, the inspection and maintenance robot market is anticipated to expand rapidly during the projected period. The market for inspection and maintenance robots is anticipated to benefit from the increasing need for offshore drilling applications. Due to the increasing demand for inspection in dangerous environments and small places, the inspection and maintenance robot industry has grown significantly in importance.
Additionally, the robots are created in accordance with industrial standards so that they can function well in hazardous environmental conditions and tough dust environments. As a result, it contributes to protecting human life and the environment from negative side effects. However, the market's expansion is being constrained by concerns such as consumer resistance and robot sensitivity.
Impact of the COVID-19 Pandemic
The worldwide industrial economy has been significantly impacted by the COVID-19 outbreak. Statistics and reports continue to document how the COVID-19 pandemic has affected many economic sectors. The COVID-19 epidemic has also had an effect on the market for inspection and maintenance robots globally.
In terms of type, the autonomous segment has in the global inspection and maintenance robot market in the forecast period amassed the greatest market value. The autonomous robots can carry out a highly complex task without the need for human involvement. Therefore, it is primarily utilized for repetitive tasks that require cost- and effectiveness-saving efficiency.
Automation of important applications is a strategy chosen by end-user industries around the world, including the automotive and food and beverage sectors, to preserve operational efficiency. Earlier, manual inspection was used to complete duties; now, robotic inspection is used more and more.
Major Segments and Sub-Segment of Inspection and Maintenance Robot Market are Listed Below:
- Remotely Operated
- Oil & gas
- Food & beverage
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With a larger percentage, Europe dominated the world market for inspection and maintenance robots. The inspection and maintenance robot market is dominated by Europe, including the major nations like Germany, France, the U.K., and Spain. The oil and gas industry's anticipated recovery in the near future will also have an impact on the region's demand for inspection robots. One of the most popular methods among participants in the market for inspection robots is research and development. The goal of these research and development efforts is to upgrade the current products and create new robots with improved functionality and efficiency.
Competitive Landscape Outlook
Aetos Group, ULC Robotics, FARO Technologies, Oceaneering, Genesis Systems Group, Robotnik, Eddyfi, Ensign Bickford Industries, Superdroid Robots, Inc., Gecko Robotics, Cognex Group, and LEO Robotics are some of the prominent market players involved in the inspection and maintenance robot market.
Table of Contents – Major Key Points
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis
8. Global Inspection And Maintenance Robot Market Segmentation, By Type
9. Global Inspection And Maintenance Robot Market Segmentation, By Application
10. Global Inspection And Maintenance Robot Market Segmentation, By Component
11. Regional Analysis
12. Company Profiles
13. Competitive Landscape
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