Industrial Robotics Market

Market Leadership - Industrial Robotics Market

The industrial robotics market size (including the prices of peripherals, software and system engineering) is expected to grow from USD 48.7 billion in 2019 to USD 75.6 billion by 2024, at a CAGR of 9.2%. Increasing demand for automation of repetitive & hazardous tasks, coupled with the decline of skilled labor workforce is pushing manufacturers to automate at a faster pace. Easier programmability and decreasing costs of industrial robots are enabling greater scale of automation and a faster return on investment (ROI). Growing demand for collaborative robots across all industry segments; ranging from established industries such as automotive, as well as small and medium enterprises (SMEs) is also expected to contribute to the growth of the market.

Although the industrial robotics market is growing at a steady pace, it is highly competitive owing to the presence of several key global players dominating the marketspace. Key strategies adopted by these players to enhance their product portfolios, increase their market share, and expand their presence in the market include product launches and partnership and collaborations. Many market players adopted product launches as a key business strategy.

To know about the assumptions considered for the study download the pdf brochure

  • In September 2018, YASKAWA (Japan) launched the heavy-duty MH900 6-axis articulated robot with a 900 Kg payload capacity with large horizontal and vertical reach, suited for heavy material handling applications.
  • In June 2018, FANUC (Japan) launched the CR-15iA collaborative robot with a maximum payload capacity of 15 Kg, designed for applications such as material handling, machine tending, inspection, and logistics.
  • Apart from this, players have also adopted partnership and collaboration strategies to enhance their product portfolio and geographical reach. For instance, in July 2018, KUKA (Germany) and Hyundai Heavy Industries (South Korea) signed an MOU for a strategic partnership. Hyundai Heavy Industries will act as a strategic sales and marketing partner for KUKA in South Korea, whereas KUKA will assist Hyundai Heavy Industries to broaden its industrial robots portfolio.

ABB (Switzerland) is a global leader in power and automation technologies, enabling utility, industry, and transport and infrastructure sectors to improve their performance while lowering the environmental impact. ABB’s operations are organized into three business divisions: Electrification Products, Industrial Automation, and Robotics & Motion.

  • On December 2018, ABB announced that it had sold its Power Grid business to Hitachi (Japan). The divestment is expected to be completed by 2020. This enabled ABB to offload its least profitable business division and focus more on industrial automation, while Hitachi (Japan) increases its global presence in the power grid industry.

ABB is a leading supplier of industrial robots and modular manufacturing systems and services. More than 300,000 ABB robots are estimated to be installed worldwide. ABB’s robotics solutions are used in industrial segments, such as automotive, metal fabrication, foundry, plastics, food and beverages, chemicals, pharmaceuticals, consumer electronics, solar, and wood. General industry applications where ABB’s robotics solutions are used include welding, material handling, painting, picking, packing, and palletizing. ABB operates in approximately 100 countries and is spread in four regions: Europe, the Americas, Asia, and the Middle East and Africa (MEA). Some of its major subsidiaries are ABB Holdings Limited, Warrington (UK), ABB Norden Holding AB (Sweden), ABB Ltd., Seoul (South Korea), ABB K.K., Tokyo (Japan), ABB (China) Ltd., ABB Ltda., Osasco (Brazil), and ABB AG, Mannheim (Germany).

FANUC (Japan) develops, produces, and sells factory automation and robotization systems. The company operates its business through 4 divisions: FA (Factory Automation), ROBOT, ROBOMACHINE, and Service. Industrial robots are offered under the ROBOT division. Robots offered by the company contribute to automation in the automotive, electric, food and beverages, and pharmaceutical industries, among others. With more than 100 different industrial robots offered, the company offers them for countless applications with a payload capacity ranging anywhere from 0.5 Kg to 2,300 Kg. More than 500,000 FANUC robots have been sold worldwide till 2018. Geographically, the company operates in Asia, the Americas, Europe, and other regions. It carries out sales and support services through an integrated network of central technical centers and branch offices and overseas group companies across the globe. FANUC has a presence in 108 countries and has 263 service locations worldwide. Some of its major subsidiaries are FANUC America Corporation, FANUC Europe Corporation, BEIJING-FANUC Mechatronics, SHANGHAI-FANUC Robotics, FANUC INDIA, TAIWAN FANUC, and KOREA FANUC CORPORATION.

Related Reports:

Industrial Robotics Market by Type (Articulated Robots, Collaborative Robots), Application (Handling, Processing, Dispensing), Industry (Automotive, Electrical & Electronics, Metals & Machinery, Food & Beverages) and Geography - Global Forecast to 2024

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Report Code
SE 2733
RI Published ON
10/1/2019
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Industrial Robotics Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2021 MarketsandMarkets Research Private Ltd. All rights reserved