LONDON--(BUSINESS WIRE)--Technavio research analysts are expecting positive growth for the global European industrial robotics market over the next four years. Between 2016 and 2020, many application segments of the market including material handling, welding, assembly/ disassembly, and painting, will see an increase in revenue during the forecast period.
With close to 16.2 million trucks, vans, cars, and buses entering the European market on a yearly basis, vehicle manufacturing is considered to be the backbone of the European economy. The automotive industry is the largest contributor of the European industrial robotics market and is predicted to reach USD 1.55 billion in 2020. Under the CARS Action Plan, the European Commission is planning to invest USD 2.2 billion to support and strengthen the automotive sector. In addition, low oil prices and monetary and investment policies of European Countries will prompt many automakers to incorporate industrial robots in their manufacturing units.
Apart from the automotive segment, the second most sought after end-user of industrial robotics in Europe is the food and beverage industry. The market is expected to reach around USD 1.17 million by the end of 2020. The large manufacturers of Europe are using automation and robotics technology into their production system to improve the quality and remain at par with other competitors from non-European countries.
“Manufacturers of industrial machinery for industries such as agriculture, construction, and infrastructure development constitute a key end-user segment for the European market. Industrial robots find extensive use in shaping individual pieces of equipment such as forging, stamping, bending, stamping, welding, forming, and machining. The equipment ranges from agricultural and food machinery, construction machinery, industrial process machinery to oil and gas equipment, and power transmission equipment,” said Brijesh Kumar Choubey, a lead analyst at Technavio for robotics research.
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Germany represents 20% of the industrial machinery equipment manufacturing in Europe. Its proximity to key supplying vendors from robotics, software, and electronics contributes to the growth of the market in the country. Germany is also among Europe's top FDI destinations for agricultural, construction, and mining machinery due to innovative business environments. These factors may contribute to the growth of industrial robotics, thereby prompting the overall European market to grow at a CAGR of over 8% until 2020.
Some of the key vendors in the European industrial robotics market include, ABB for welding, assembly, and cleaning; Comau for press shop for press-shop automation; FANUC for medical goods handling, food packing, error proofing, polishing, washing, and painting; KUKA for metalworking, foundry, consumer electronics; and Yaskawa Electric for the transfer of LCD panels and semiconductor wafers.
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