LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global industrial robots power supply systems market to grow at a CAGR of close to 10% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global industrial robots power supply systems market for 2017-2021. The report also lists inverter power sources and batteries and accessories as the two major product segments, of which the inverter power sources segment accounted for more than 52% of the market share in 2016.
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global industrial robots power supply systems market:
- Increase in adoption of industrial robots due to deficit of skilled labor
- Adoption of inverter power sources for welding applications
- Technological innovations in batteries
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Increase in adoption of industrial robots due to deficit of skilled labor
Rapid industrialization in developed and emerging economies has led to an increased demand for labor, resulting in a hike in the average cost of labor and less availability of skilled workers in various industries. By 2050, the working-age population in the world is expected to decrease significantly, especially in countries such as China, Japan, Germany, Russia, and France. This has triggered the increased adoption of robots to reduce the dependency on human workers. The ability of robots to multitask and provide error-free work within a short span of time has also led to increased adoption of industrial robots.
“Securing sufficient production line capacity is becoming challenging for small and medium-sized enterprises. The labor shortages in countries, such as Japan, are expected to exacerbate the challenges. Thus, industrial players are expected to increase their investment in technologies, such as robots and automation. As the adoption of industrial robots increases across the world, it will drive the demand for industrial robots power supply systems as well,” says Raghav Bharadwaj Shivaswamy, a lead analyst at Technavio for robotics research.
Adoption of inverter power sources for welding applications
There has been an increase in the adoption of welding robots over the years, which form a major segment of the industrial robots market. To improve the efficiency of industrial robots for welding applications, end-users find inverter power sources as indispensable and opt for inverter power source that can be seamlessly integrated with industrial robots.
Vendors in the industrial robots power supply systems market have introduced inverter power sources that facilitate efficiency in applications such as pulsed MIG welding, TIG welding, and plasma welding. High-performance processors and high-speed buses are also being used to ensure that data is exchanged quickly for fast control loops.
Technological innovations in batteries
Vendors in the market are developing new technologies to be used in their power systems. There is an increase in innovation in the type of Li-ion batteries available in the market. For instance, lithium cobalt oxide batteries offer the advantage of high current densities. Their control circuit prevents overcharging and ensures that they are safe for use. Lithium manganese oxide batteries ensure high thermal stability and high-power output at lower currents. On the other hand, lithium nickel cobalt aluminum oxide and lithium titanate batteries are currently being used in electric powertrains and grid storage systems. However, they might see a surge in demand for industrial robots, leading to growth in the market.
“Vendors are focusing on developing new battery technologies that have superior specific energy, such as lithium batteries that use electrolytes made of polymer film. The forecast period will see the emergence of more power systems that are less reactive in air and have sufficient power densities,” says Raghav.
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