DUBLIN--(BUSINESS WIRE)--The "Articulated Robot Market by Payload (Up to 16.00 kg, 16.01-60.00 kg), Function (Handling, Welding, Dispensing, Assembly), Industry (Automotive, Electrical & Electronics, Metal & Machinery, Food & Beverages), and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The articulated robot market is expected to grow from USD 10.92 billion in 2018 to USD 23.51 billion by 2023, at a CAGR of 16.58% during the forecast period; the market is expected to register a shipment of 245,012 units in 2018 and is projected to reach 548,566 units by 2023, at a CAGR of 17.49% during the forecast period.
Major drivers for the articulated robot market are increasing adoption of automation and growing demand from small and medium-sized enterprises (SMEs) in developing countries. However, one of the major factors restraining the growth of the articulated robot market is the high overall cost of installation for low-volume production applications.
The articulated robot market for robots with payload carrying capacity of 16.01-60.00 kg is expected to grow at a significant rate between 2018 and 2023. The robots with payload carrying capacity of 16.01-60.00 kg are mainly adopted in the automotive industry for arc welding, spot welding, and painting applications, especially for compact 3- and 4-wheelers. Further, the growing demand for electric vehicles worldwide is the key factor that is expected to propel the growth of the market for articulated robots with payload carrying capacity of 16.01-60.00 kg.
Owing to the high rate of adoption of articulated robots in the automotive industry for handling heavy automotive parts and in the metal and machinery industry for handling heavy metal sheets and components, the handling function is expected to hold the largest share of the articulated robot market in 2018. However, the market for processing function is expected to grow at the highest CAGR during the forecast period.
- ACMI SAP
- CMA Robotics SAP
- Cassioli Srl
- Comau SAP
- Kawasaki Heavy Industries
- Mitsubishi Electric
- Seiko Epson
- Stubli International
- Toshiba Machine
- Yamaha Motor
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Articulated Robot Market, By Payload
7 Articulated Robot Market, By Function
8 Articulated Robot Market, By Industry
9 Geographic Analysis of Articulated Robot Market
10 Competitive Landscape
11 Company Profiles
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