DUBLIN--(BUSINESS WIRE)--The "Articulated Robots Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The articulated robots market was evaluated at US$11.194 billion for the year 2019 growing at a CAGR of 17.10% reaching the market size of US$33.797 billion by the year 2026.
The articulated robots market is estimated to witness a healthy growth over the forecast period. Increase in the transformation of industries towards automation has led to increase in the demand for articulated robots. It has at least two rotary joints and is mostly used in different manufacturing procedures, such as handling components, welding, dispensing, assembling, loading/unloading, cutting and painting. Articulated robotics increase operating efficacy in complex activities, and can handle harsh or dangerous heavy goods or materials. These robots are also extremely robust and economical and require minimum rest. Owing to these advantages, they are commonly used in diverse industries like the automobile, aerospace and electronics industries.
Companies Mentioned
- ABB Ltd.
- KUKA AG
- FANUC CORPORATION
- DENSO Corporation
- Mitsubishi Electric Corp.
- Kawasaki Heavy Industries Ltd.
- Nachi-Fujikoshi
- Omron Adept Technologies
- Seiko Epson
- NIMAK GmbH
Impact of COVID-19 on the market
The outbreak of COVID-19 had a significant impact on the market of articulated robot. The lockdown restrictions across various countries affected the production activities. Fall in revenue and profits led to laying off various employees and factory workers. Decline in production in the End-user industries had a significant impact on the articulated robot market. Revival of the economies post COVID will lead to increase in the production activities thereby boosting the demand for articulated robot market
Market Drivers
- Articulated robots are used in various industries like painting, packaging, metal casting and various other industries.
- The use of articulated robots reduces the operation cost of the industry and provides operational efficiency thereby encouraging its use in various industries.
- There has been an increase in the investments by the automation industry in articulated robots. For tedious and risky tasks that people cannot perform, articulated robots are used. Manufacturing firms in their operations have used robotics to increase their vehicles' efficiency and quality. Companies, like Tesla and Ford are investing heavily in robots.
- The demand for automobiles has been increasing due to increase in the disposable income of the consumers thereby leading to increase in the production process and indirectly increasing the demand for articulated robots in the industry.
- The labor-intensive workload of the food and beverage industry provides perfect opportunities for industrial robotic use, particularly when robots are increasingly equipped to follow high standards of safety and health. The use of articulated robots will prevent the workers from doing repetitive tasks and getting injured, rather it will help them focus on value adding activities.
- According to FM&T there will be an increase in the investment of robotics in the foundries. In the year 2021, 16.5% of the metal casting operations plan to invest in advanced robotic technologies. The fact that human employees are subject to extreme heat, noise, and chemicals in this industry gives robotics a high added benefit. Robots, however, are specially designed for use in hot environments and are able to survive high-pressure sprays and chemical exposure.
- Initiatives taken by the government also help boost the market of articulated robots. For instance, Made in China 2025, this initiative has led to shift in the manufacturing industry from low end to a technologically innovative industry. There has been a push towards use of robotics, clean energy and information technology in various sectors.
Market Restraints
- The high cost of articulated robots and its complex installations are some of the factors that will hinder growth in the market.
- Complicated programming and kinematics can be a major block hindering the demand for articulated robots.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Articulated Robots Market Analysis, By Payload
5.1. Introduction
5.2. Up to 16 Kg
5.3. 16 - 60 Kg
5.4. 60 - 225 Kg
5.5. More Than 225 Kg
6. Articulated Robots Market Analysis, By Application
6.1. Introduction
6.2. Handling and assembly
6.3. Welding
6.4. Processing
6.5. Others
7. Articulated Robots Market Analysis, By End-User
7.1. Introduction
7.2. Automotive
7.3. Electrical & Electronics
7.4. Food & Beverages
7.5. Pharmaceutical
7.6. Others
8. Articulated Robots Market Analysis, by Geography
8.1. Introduction
8.2. North America
8.3. South America
8.4. Europe
8.5. Middle East and Africa
8.6. Asia Pacific
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/4xc16l
