A new market research study by Future Market Insights on the industrial robotic motors market contains global industry analysis 2014–2018 and opportunity assessment 2019–2029. The report investigates the industrial robotic motors market, and provides critical insights for the forecast period of 2019-2029. As per the findings of the report, the global industrial robotic motors market is anticipated to experience substantial growth over the forecast period, due to multiple driving factors such as, high demand for robots across end-use industries, rapid growth of automation, and implementation of global energy-efficient norms.
The global industrial robotic motors market was valued at ~US$ 680 Mn in 2018, and is projected to increase at a CAGR of ~ 13% during the forecast period. This growth is significantly driven by the progressing automation in factories, installation of robots in a wide spectrum of service applications including healthcare, agriculture and defense, and implementation of modern robotic solutions.
The ongoing need for non-delay operations in a number of industries, in the view of rising product demand and shrinking workforce, has led to an incessant rise in the adoption of robotic technology, and the result is likely to lead to an increased demand for industrial robotic motors, according to the FMI analyst.
East Asia Continues to Offer Considerable Growth Opportunities
Growth prospects of the industrial robotic motors market are high in East Asia. The market in China has particularly been on a significant rise, owing to the fact that the robots are being incorporated in solutions as well as services. Substantial growth of the robot industry has been an eminent factor in the enhancement of industrial robotic motors in different sectors for South Korea. The rapid decrease in the workforce and the restricted influx of immigrants provide a strong incentive for robotics in Japan. The inclination of these countries toward industrial robotic motors, fueled by major technology developments, is amplifying the market. In terms of growth, South Asia & Pacific region is estimated to project maximum growth rate in the coming years, owing to rapidly increasing automation in several manufacturing industries actively operating in the developing countries.
For More Detailed Insights on Industrial Robotic Motors Market
Market Growth Underpinned by Rapid Adoption of Robotics Across Numerous Industrial Sectors
The global industrial robotic motors market has been segmented based on the different types of Motor, Robots, Fit type, and regions such as East Asia, South Asia Pacific, Europe and Middle East & Africa and the Americas.
- Servo motor, under the motor category is expected to have the paramount share of market in the upcoming years. The segmental growth is followed by DC and stepper motors for handling certain procedures including pick and place where accuracy is not a prior parameter taken into consideration in the manufacturing operation.
- Based on robot, articulated robot is expected to account for a prominent share of the global industrial robotic motors market. This line of growth is followed by SCARA, Cartesian/Gantry, Dual arm, Collaborative and Delta robots respectively which are expected to have a fair portion in the market development.
- Based on fit type, first fit segment is expected to have a dominant share in the industrial robotic motors, owing to increasing rate of new installation of robots across the globe. The estimated life span of a motor used in industrial robots is around 5 years, therefore retro fit segment, is expected to account for a minimal in the market.
Industrial Robotic Motors Market: Vendor Insights
The report highlights some of the prominent market players, who have established themselves as leaders in the global industrial robotic motors market. Few examples of key players in the market are Nidec Corporation, FAULHABER Group, PMDM Group, HDD, Aurotek Corporation, Kollmorgen, Fanuc Corporation, ABB Group and Kawasaki Heavy Industries among others. The global industrial robotic motors market is considerably dominated by prominent market participants. These players are indulging into strategic collaborations, alliances, mergers and acquisitions. For instance, Nidec Corporation announced its establishment to form a joint venture to manufacture automotive traction motors with a subsidiary of China-based Guangzhou Automobile Group Company.
For additional insights on the Industrial Robotic Motors landscape, write to the analyst at [email protected]
About Industrial Automation & Equipment division of FMI
The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in analyzing the global machinery and industrial automation market. A range of FMI’s market research reports offer comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery used across manufacturing sector. The team also conducts distinctive analysis about installed base, consumables, replacement, and USP-feature application matrix, making us a prominent voice of authority in the industry. We are associates of choice for established as well as budding industry stakeholders and channel partners when it comes to sustain, grow, and identify new revenue prospects.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.