DUBLIN--(BUSINESS WIRE)--The "SCARA Robot Market - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The SCARA robot market (including prices of peripherals, software, and system engineering) is expected to grow from USD 6.4 billion in 2019 to USD 10.4 billion by 2024, at a CAGR of 10.3%.
One of the major driving factors for the SCARA robot market is the rising adoption of SCARA robots in the electronics industry. Also, due to the growing need to reduce human efforts and errors in the production process, demand for SCARA robots is increasing. However, the high overall installation cost for low volume production acts as a key restraining factor for the market growth.
Market for robots with a payload capacity ranging 5.01-15.00 kg to grow at highest CAGR during the forecast period
SCARA robots with a payload capacity ranging from 5.01-15.00 kg are mainly used for applications such as handling, assembly, and packaging. These robots are mainly adopted in the food & beverages; plastics, rubber, and chemicals; and precision engineering and optics industries. In the food & beverage industry, these SCARA robots are typically used in food processing applications as they help prevent food contamination.
These robots are used for loading and unloading applications, specifically to unload the molding machine in the plastics industry. Increasing demand from food & beverages; plastics, rubber and chemicals; and precision engineering and optics industries for food handling and packaging applications is expected to propel the demand for SCARA robots with a payload capacity ranging 5.01-15.00 kg.
Processing application to grow at highest CAGR from 2019 to 2024
Processing application is expected to grow at the highest CAGR during the forecast period. SCARA robots are highly beneficial for various processing applications. Processing adds value to the product so as to enhance its appearance and marketability. In robotic processing operations, a SCARA robot controls a tool through its arm to perform a process on the work part.
Also, SCARA robots are increasingly used in the medical industry for specimen processing applications. Many clinical laboratories are facing a shortage of trained microbiologists, which, in turn, offers opportunities for adopting SCARA robots in clinical laboratories; this is expected to propel the demand for SCARA robots in processing applications in the coming years.
Market in Europe to grow at significant CAGR during the forecast period
The market in Europe is expected to grow at the highest CAGR during the forecast period. In Europe, automotive is the leading industry adopting SCARA robots, along with other industries such as metals & machinery, food & beverages, and electrical & electronics.
One of the key factors driving the growth of the SCARA robot market is strong interdisciplinary research along the value chain of robotics in Europe. The growing demand from the automotive industry and improving electrical & electronics and metals & machinery sectors in Europe are expected to drive the SCARA robot market during the forecast period.
Market Dynamics
Drivers
- Growing Need to Reduce Human Efforts and Errors in Production Process
- Increasing Adoption of SCARA Robots in the Electronics Sector
Restraints
- High Overall Installation Cost for Low Volume Production
Opportunities
- Rising Labor Costs in Developing Countries
- Growing Integration of SCARA Robots With AI and IoT Technologies
Challenges
- Increasing Demand for Collaborative Robots
- Interoperability and Integration Issues With SCARA Robots
Value Chain Analysis
Company Profiles
Key Players
- Seiko Epson
- Yamaha Motor
- Denso
- Yaskawa
- Stubli
- ABB
- Mitsubishi Electric
- Kawasaki Heavy Industries
- Toshiba Machine
- Comau
Right to Win
- Seiko Epson
- Yamaha Motor
- Denso
- Yaskawa
- Stubli
Other Players
- Nachi-Fujikoshi
- Kuka
- Fanuc
- Omron Adept
- Durr
- Hiwin Technologies
- Janome
- Hirata
- Adtech
- Delta Electronics
For more information about this report visit https://www.researchandmarkets.com/r/3c97k5
