The "Articulated Robot Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The articulated robot market is expected to register a CAGR of 12.63%, during the forecast period, 2021-2026.
The shift from manual production to automation has been one of the major factors driving the robotics market. The potential of articulated robots to aid in high payload lifting during the manufacturing of automobiles, customization in machinery, is furthering aiding the growth of the articulated robots.
Kawasaki Heavy Industries Ltd
Omron Adept Technology Inc.
Mitsubishi Electric Corporation
Seiko Epson Corporation
Staubli International AG
Key Market Trends
Automotive Industry is Expected to Register a Significant Growth
The automotive industry is the most common user of articulated robots, as it involves a wide variety of tasks such as manufacturing and assembly which involves operations such as welding, cutting, painting, etc. Moreover, the applications of such articulated robots play a vital role to increase productivity, production, efficiency and also for reduction of energy consumption in the automotive industry.
Moreover, articulated robots have been traditionally used for repetitive and dangerous jobs that humans can't handle. Manufacturing companies have adopted robots in their processes to improve productivity and enhance the quality of their respective vehicles. For instance, Ford Motor Company uses around 450 robots to paint vehicles and carry out processes for body construction at its Sanand plant in India. Further, Maruti Suzuki India makes use of 5,000 robots in one of its plants.
Demand for automobiles is increasing continuously and with the rising disposable income in the region such as Asia-Pacific, the need for automation increases, thus driving the demand for the articulated robots.
Further, automation is empowering small American businesses to compete with deep-rooted rivals around the world. The United States is also one of the largest automotive markets in the world and is home to over 13 major auto manufacturers. The automotive manufacturing has been one of the largest revenue generators for the country, in the manufacturing sector.
With over five heavy-duty assembly plants, over 540 OEM parts manufacturers, 400 dealerships, and many other automotive-related industries, Canada is the 9th largest vehicle producer in the world, and this sector is the biggest contributor to the manufacturing industry of the country.
According to the Government of Canada, the country's automotive suppliers export parts globally and are integral to Canada's automotive sector, which accounts for over USD 34 billion in sales annually.
North America Expected to Witness Significant Growth
The modern manufacturing facilities in the North American region have been relying on new technologies and innovations to produce higher quality products at faster speeds with lower costs. In order to survive in the current competitive scenario, they are implementing more intelligent software and hardware to enhance their production capabilities.
Industrial robots such as the articulated robots are providing manufacturers in North America with multiple prominent and measurable benefits, such as decreased operating costs and increased throughput of materials.
The North American region is one of the leading innovators and pioneers in terms of the adoption of robotics and is one of the largest markets across the globe. The primary reason for the growth of the market is the increasing adoption of robots across numerous industries.
According to the International Federation of Robotics, the estimated annual industrial robot installations in the North American region reached 54,000 units in 2019 and is expected to reach 69,000 by 2022.
The formation of the "Advanced Manufacturing Partnership (AMP)" is an initiative undertaken to make the industry, universities, and the federal government to invest in the emerging technologies. This has aided the country to significantly gain a competitive edge in the global economy. Moreover, the National Network for Manufacturing Innovation (NNMI), consists of developing regional hubs, which are expected to be involved in developing and adopting cutting-edge manufacturing technologies for making innovative products, to be implemented in the manufacturing sector.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increasing Investments Toward Industrial Automation
4.3.2 Support From Governments To Increase Workplace Safety
4.4 Market Restraints
4.4.1 High Initial Cost
4.5 Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.7 Assessment of COVID-19 impact on the industry
5 MARKET SEGMENTATION
5.1 End User Industry
5.1.2 Electrical and Electronics
5.1.3 Metals and Machinery
5.1.5 Food and Beverages
5.2.1 North America
5.2.3 Asia Pacific
5.2.4 Latin America
5.2.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 INVESTMENT ANALYSIS
8 FUTURE OF THE MARKET
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View source version on businesswire.com: https://www.businesswire.com/news/home/20210301005548/en/
Laura Wood, Senior Press Manager
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