Industrial Robotics Market

Industrial Robotics Market - Market Leadership

The industrial robotic market (including the prices of peripherals, software, and system engineering) is expected to grow from USD 42.2 billion in 2021 and is projected to reach USD 75.3 billion by 2026; it is expected to grow at a CAGR of 12.3% during the forecast period. The factors such as, incentives offered by the government of various countries worldwide and public-private companies to the industrial sectors to mitigate the impact of COVID-19 pandemic coupled with growing demand for collaborative robots across all the industries to enable automation, are driving the growth of the market. Collaborative robots can be integrated into existing production lines as they can work alongside humans. As these robots are easier to program, they can be reprogrammed for other activities once their use in a specific application is over. The collaborative robots are targeted towards both small and medium-sized enterprises (SMEs) and large enterprises and hence have a wide-scale adoption owing to their comprehensive adaptability, affordability and versatility.

Key strategies adopted by these players to enhance their product portfolios, increase their market share and expand their presence in the market mainly include new product launches and partnerships, collaboration & joint ventures.  For instance, in December 2019, FANUC (Japan) launched two new collaborative robots at the iREX 2019: the CRX-10iA and CRX-10iA/L. The new CRX Series robots are significantly lighter than the CR Series collaborative robots. They can be used for easy installation on a broad range of applications, such as driverless transport systems or AGVs. The robots also offer a new, intuitive programming interface suitable for users with little programming experience. In September 2020, KUKA announced its new SCARA robots under the KR SCARA line-up that excel in applications like in small parts assembly, materials handling and inspection tasks with a payload of 6 kg. The robots will be mainly offered to cost sensitive markets. In May 2020, Mitsubishi Electric collaborated with their [email protected] alliance partner Schaeffler (Germany) to offer two Smart Condition Monitoring (SCM) solutions – one based on an integrated PLC solution and the other using the intelligent functions of the 800 Series Variable Speed Drives.

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ABB is one of the market leaders for industrial robots and is planning to focus more on the industrial automation business in the future. In December 2018, ABB announced that it had sold its Power Grid business to Hitachi (Japan). The divestment is completed as of 2020. The company’s industrial robot business is well positioned to outgrow the market with the broadest portfolio of offerings, innovation strength, global footprint and deep domain expertise, supporting its customer’s transition towards robotics and automation in existing segments while driving growth through expansion into new customer segments. As ABB already has a broad portfolio of industrial robots, the company has mainly focused on collaboration, partnerships, and acquisitions to expand its reach for industrial robots. ABB has renewed its focus on existing segments such as the automotive industry, including electric vehicle manufacture, new automation solutions, including machine-centric robotics and flexible manufacturing concepts, and new markets including logistics and healthcare. Roughly 60 percent of revenue is already generated outside the automotive sector. To improve its parallel robot portfolio, the company acquired Codian Robotics (Netherlands) in 2020 as a part of its growth strategy. With the company’s growth towards healthcare, logistics, and retail sector, the company needs to have a greater focus on collaborative robots. The company currently does not have a strong portfolio of collaborative robots. The current portfolio of collaborative robots offered by the company are inherently collaborative type with a low payload of 0.5 kg. It does not feature any force/torque sensors along its joints like most modern collaborative robots manufactured by its competitors. ). In November 2020, ABB, and Ericsson (Sweden) announced a partnership to support ABB’s customers and enterprises in Thailand with Ericsson’s 5G solutions. The focus areas of the partnership include ABB’s Robotics & Discrete Automation, Industrial Automation, and Motion business segments.

YASKAWA aims to gain the largest share of the industrial robot market by 2025. Though the automotive industry is one of the important markets for industrial robots, the company has expanded its foothold in the food, pharmaceutical, cosmetics, and biomedical markets. Diversification into other markets will decrease the dependency on a single market and reduce unexpected losses due to geopolitical or market risks. The company is known for its high-quality robots featuring energy efficient designs. Like other key industrial robot companies, YASKAWA also offers information technology services for its industrial robots through its i3-Mechatronics digital data solution which will be a key competitive differentiator for top companies in the industrial robot marketspace in the future. YASKAWA primarily relies on organic growth strategies to stay relevant in the market. To achieve the company’s vision, the focus is primarily around making necessary investments in research and development activities as well as digital transformation. As such, the company has planned the construction of a new YASKAWA Technology Center which is expected to be operational by March 2021 as well as the development of an integrated robot controller also expected to be launched sometime in 2021. The company faces risk of increased competition due to rise of new manufacturers, especially in the collaborative robot marketspace as well as strategies undertaken by other top competitors. Establishing and expanding sales channels of collaborative robots is also a challenge currently faced by the company. Another internal weakness faced by the company is expected to be the decrease in added value for YASKAWA due to in-house production of parts and components by customers. In April 2020, YASKAWA has launched a new multipurpose robot under its articulated robots category, MOTOMAN-GP300R. The robot features a reinforced wrist shaft and is lighter in weight as compared with equivalent models.

Related Reports:

Industrial Robotics Market with COVID-19 Impact Analysis by Type (Articulated, Collaborative Robots), Component, Payload, Application (Handling, Processing), Industry (Automotive, Food & Beverages), and Region - Global Forecast to 2026

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Report Code
SE 2733
RI Published ON
6/21/2021
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