Towards the ‘Maturing’ Future of Manufacturing
The surging requirement of producing maximum units within limited timeframe is influencing manufacturers to bank on industrial robots such as, collaborative robots or cobots. Industrial robots exhibit the caliber to operate with mature manufacturing arrangements and operators, dismissing the need for further structural or infrastructural expenses. Industrial runners are incorporating industrial robots amongst the technicians and facilities owing to their small manufacturing footprint, eliminating the need for a separate chamber.
Automakers are implementing laser cutting operation and laser welding application at the plants with the assistance of industrial robots, on grounds of better positioning accuracy and higher speed. Robotic lasers adjust the beam focal length and working angle, resulting in faster laser welding at two laser stitches per second. Further, with the integration of sensor technology into industrial robots, industrial workers can detect moisture, or gas leakages in electric drive systems.
However, the number of skilled workforce is not able to equate the rising adoption of industrial robotics in automation bracket. Industry owners leveraging industrial robotics are observing concerns regarding personnel safety. Some robots, including fenced robots, can be dangerous if handled improperly due to human error, control error, unauthorized access, and mechanical failure. Presence of skilled and educated labor can mitigate these mishaps. Furthermore, the integrators are performing risk evaluation sessions during the initial stage of design and distributing as a document throughout the product life.
Industrial Robotics Market - Key Research Findings
- The global industrial robotics market size in 2018 was ~US$ 17 Bn.
- The industrial robotics market is expected to grow at a CAGR of ~17% during the forecast period of 2019-2029.
- Increasing demand for articulated robots for applications such as assembly, welding, and packaging has been recently driving the sales of industrial robots.
- East Asia is likely to account for half of the revenue shares in the industrial robotics industry by the end of 2029.
- East Asia, attributing to the rising automotive production will continue to be a prominent regional market for industrial robotic manufacturers.
- The automotive industry is expected to remain prominent end-use industry to invest in, for industrial robotics market players.
- The automotive industry has witnessed significant growth over the recent past.
- Noteworthy application potential of industrial robotics has been identified in handling operations, welding, and assembly/disassembly.
Key Factors Shaping the Industrial Robotics Market
Increasing Labor Costs Creating Demand for Industry Automation and Industrial Robots
The cost of labor is rising at a significant rate even in traditional LCC (Low Cost Carrier) countries such as, India and China. Owing to the increasing labor cost around the world, the payback for industrial robots and industry automation is gaining more traction in the market.
Furthermore, countries such as Germany, South Korea, Japan, etc., are also among the top 5 in the industrial robotics market owing to the significantly high labor costs for skilled personnel in the industry. The consistently increasing labor costs and decreasing prices of industrial robots are expected to drive the market over the forecast period.
Increasing Product Innovations in the Industrial Robotics Market
In an intense competitive environment, manufacturers are focusing on distinguished product offerings to stand out from other manufacturers. Manufacturers are continuously investing in research and development activities to develop robots for new application areas in several industries. They are also focusing on continuously developing new products for gaining a competitive advantage in the market.
- For instance, in April 2018, FANUC launched new robots with AI Bin Picking FIELD application, which is used to identify suitable picking order with a greater success rate.
- In April 2018, Kuka launched new KMR iiwa mobile robot for electronics and automotive industry.
- In September 2018, ABB launched a new ceiling mounted SCARA robot with improved flexibility.
Decreasing Prices of Industrial Robots
The industrial robotics market is growing at a significant rate globally. Owing to the significant demand and growing competition in the market, the cost of industrial robots is decreasing at a steady pace (~50% drop in average robotics cost since 1990). Manufacturers are focusing on decreeing the cost of production by increasing the production in low-cost regions. By doing so, manufacturers are offering industrial robots at the lowest possible price to increase their sales in the market. Moreover, due to the decrease in prices, tier 2 and tier 3 industry manufactures are also inclined towards the automation and installation of industrial robotics in their industries.
Next-Gen Industrial Robots on Rise in the Industrial Robotics Market
Industrial robots are predicted to transform manufacturing in the near future. As industrial robots become cheaper, faster, and smarter, they will perform evermore tasks. Industrial robots are bridging the gap between man and machine by inching closer to the former with abilities such as memory, trainability, dexterity, and sensing. Therefore, industrial robots are being utilized in inspection or testing products, assembly lines, and picking and packaging. Collaborative robots have begun to enter into the industrial robots market in the new era as they work hand-in-hand with laborers, who train them on the job. If the capabilities of industrial robots continue to rise at the present pace with a corresponding decline in prices, small and mid-size firms might well join the industrial robot bandwagon.
Long-term Partnerships and Collaboration with OEMs
As the industrial robotics market is growing at a significant rate, the competiveness in the market is also increasing. Manufacturers are focusing on the customer retention and acquiring contracts for automation of industries. To win an edge over other players in the market, industrial robot manufacturers are entering into long-term supply contracts with OEMs to ensure uninterrupted supply for long durations. Manufacturers are also offering integrated product and service packages such as systems, installation, services, maintenance, and training, to stand out from other players in the market.
Industrial Robotics Market Structure Analysis
- The global industrial robotics market represents a fairly consolidated competition landscape, where a majority of key players maintain their strategic focus on the development of solid distribution partnerships and joint ventures, targeting a firmer global footprint.
- The industrial robotics market has been relatively moderate in size, which remains a key factor for its dynamic competitive nature.
- Prominent manufacturers of industrial robotics are currently prioritizing R&D and new product launches in North America, Europe, and East Asia.
- Portfolio extension is also identified to remain one of the key developmental strategies adopted by manufacturers of industrial robotics.
- For a stronger foothold in target markets, industrial robotic manufacturers will continue to rely on inorganic strategies, such as mergers and acquisitions.
- Deeper understanding of the market trends and preferential shifts of end-use segments across various regions are likely to create a bottleneck for prominent players, looking forward to untapped opportunities in the industrial robotics market.
Placing Components with Great Precision despite High Initial Investments
Apart from the automotive sector, industrial robotics is creating space in warehouse robotics and electronic & electrical sector too following compact size, low cost, and high precision. Industrial robots are able to place large number of components per hour, outperforming human labor with respect to speed, and reliability. With electronic parts, for instance, batteries, semiconductors, and others, shrinking in size, industrial robots can place smallest electronic parts with optimum precision, quick speed, and miniaturization, enabling higher throughput and faster production.
Yet, installation of industrial robots is cost-intensive, compelling emerging market players to purchase limited number of industrial robots. Further, regular maintenance, high power consumption, and implementation of new-age solutions are still the pain points for small-scale manufacturers due to tight budgets.
Why are Participants Tapping the East Asian Countries?
With an upsurge in unmanned operations, East Asia remains to be the mecca of the industrial robotics market over the foreseeable timeframe, with South Asia showing tremendous growth. Under ‘Made in China 2025’ strategy, the local manufacturers are instructed to increase the yield of industrial robots from about 150, 000 in 2020 to 400, 000 by 2030. The cost of labor is escalating significantly in traditional LCC (Low Cost Carrier) countries such as, India, and China. In addition, the vehicle production in India and China is progressing at a healthy rate of 5.9% and 3.4% respectively, which is further complementing the growth of industrial robotics market.
* This data is only a representation. Actual data may vary and will be available in report.
Space-Age Solutions to Define Stakeholders’ Tactics
The global industrial robotics market is witnessing cut-throat competition with leading manufacturers, including Kuka AG, ABB Ltd., among others, accounting for about half of the total market revenue.
Robot makers are manufacturing end-of-arm-tools (EOAT) and end effectors, such as grippers, for handling large or delicate components. Key market participants are leveraging AI bin-picking technology for faster identification of suitable objects to be picked from a bin. Manufacturers are coming up with pepped-up robots for painting large work parts, such as automobile bodies, bumpers, or other construction equipment. In addition, major market contributors are designing hardware modules to access industrial robots via a machine controller.
Mature and emerging businesses are signing up for robots-as-a-service (RaaS) by leasing robotic devices and subscribing cloud-based services, thereby, initial investment and maintenance expenses. Further, manufacturers are turning to OLP (Offline Programming) for quicker deployment at a lower initial cost.
Market players are entering into mutually beneficial partnerships with their rivals for advanced automation and robotics incorporating human-robot interface for collaborative robots. Furthermore, market leaders and followers are cutting capital costs to penetrate into low and middle-income countries (LMIC), including India, and Vietnam, and witnessing the arrival of new markets.
Articulated robots most sought-after
SCARA robots gaining traction
Demand in automotive industry maximum
Demand in E&E industry significantly rising
Use in handling operations witnesses high growth
Application in welding increasing rapidly
How Growth will Unfold
Digital technologies, including to Internet of Things (IoT), among others, as well as increasing production of regulatory-approved automobiles in countries across the globe are set to be the gold mines of growth for industrial robotics market worldwide. The prominence of the Fourth Industrial Revolution or Industry 4.0 is enhancing the human-machine interaction with cutting-edge technologies for instance, artificial intelligence, blockchain, and industrial internet of things (IIoT), to drive predictive maintenance, inventory planning, and autonomous decision-making. Industrial robots are becoming commonplace in automobile bracket, with developed regions, such as Japan, and Europe, exhibiting vehicle production at a rate of about 5%. By next year, more than 3 million industrial robots are estimated to be employed globally, exceeding twice of that being used a couple of years ago. Furthermore, innovators have designed industrial robots that mimic the movements of dogs, cats, and humans with great accuracy.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Industrial Robotics Market Analysis 2019 - 2029
A recent market study published by FMI on the industrial robotics market includes the global industry analysis 2014-2018 & opportunity assessment 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historic as well as current growth parameters of the industrial robotics market, the growth prospects of the market are obtained with maximum precision.
Industrial Robotics Market Taxonomy
The global industrial robotics market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
By Product Type
- SCARA Robots
- Delta Robots
- Cartesian Robots/ Gantry Robots
- Articulated Robots
- Collaborative Robots (limited segments)
- Dual-arm Robots
By End Use
- Automotive Industry
- Electrical/Electronics Industry
- Rubber & Plastics Industry
- Metal & Machinery
- Food & Beverages
- Plastic & Auxiliary Chemical Products
- Auxiliary Industries
- Bulk Commodities & Materials
- Clean Room
- Handling Operations
- Painting & Coating
- General Applications
- North America
- South Asia
- East Asia
- Rest of the World
The report initiates with the executive summary of the industrial robotics market, which includes a summary of the key findings and statistics of the market. It also includes the demand & supply-side trends pertaining to the industrial robotics market.
In this chapter, readers can find the definition and a detailed taxonomy of the industrial robotics market, which will help them understand the basic information about the industrial robotics market. Along with this, comprehensive information about industrial robotics and its properties are provided in this section. This section also highlights the inclusions and exclusions, which help readers understand the scope of the industrial robotics market report.
The industrial robotics market report provides key market trends that are expected to significantly impact the market growth during the forecast period. Detailed industry trends are provided in this section.
This section includes the factors that have emerged as key successful factors and strategies adopted by key market participants.
This section explains the global market value analysis and forecast for the industrial robotics market between the forecast periods of 2019-2029. This chapter includes a detailed analysis of the historical industrial robotics market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019–2029). Along with this, pricing analysis of the industrial robotics market at the regional level has been provided in this section. This section also explains the global market volume analysis and forecast for the industrial robotics market between the forecast periods of 2019-2029.
This chapter explains the key macro-economic factors that are expected to influence the growth of the industrial robotics market over the forecast period. Along with the macroeconomic factors, this section also highlights the value chain, supply chain, forecast factors, Porter’s five forces analysis, and value chain analysis for the industrial robotics market. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the successive section.
Based on the product type, the industrial robotics market is segmented into SCARA robots, delta robots, Cartesian robots/gantry robots, articulated robots, collaborative robots, and dual-arm robots. In this chapter, readers can find information about the key trends and developments in the industrial robotics market and market attractiveness analysis based on the product type.
On the basis of end use, the industrial robotics market is segmented into automotive industry, electrical/electronics industry, rubber & plastics industry, metal & machinery, food & beverages, plastic & auxiliary chemical products, auxiliary industries, and bulk commodities & materials. In this chapter, readers can find information about the key trends and developments in the industrial robotics market and market attractiveness analysis based on the end use.
This chapter provides details about the industrial robotics market based on the application and has been classified into assembly/disassembly, clean room, dispensing, handling operations, processing/cutting, welding, painting & coating, and general applications. In this chapter, readers can understand the market attractiveness analysis based on the application.
This chapter explains how the industrial robotics market will grow across various geographic regions such as North America, Europe, East Asia, South Asia, and the Rest of the World.
This chapter includes detailed analysis of the growth of the North America industrial robotics market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find pricing analysis, regional trends, and market growth based on the applications and countries in North America.
Important growth prospects of the industrial robotics market based on its end users in several countries such as Germany, U.K., France, Spain, Italy, BENELUX, Russia, and the Rest of Europe are included in this chapter.
This chapter highlights the growth of the industrial robotics market in East Asia by focusing on China, Japan, and South Korea. This section also help readers understand the key factors that are responsible for the growth of the industrial robotics market in East Asia.
This chapter provides information about how the industrial robotics market will grow in major countries in the South Asia region such as India, Singapore, Indonesia, Vietnam, and the Rest of South Asia during the forecast period of 2019-2029.
This chapter provides the growth scenario of the industrial robotics market in countries such as Brazil, Mexico, Africa, and the Rest of World. Along with this, an assessment of the market across target segments has been provided.
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the industrial robotics market, along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the industrial robotics market, along with a detailed information about each company, which includes the company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Yaskawa Electric Corporation, FANUC Corporation, Kawasaki Heavy Industries Ltd, ABB Ltd., Kuka AG, Mitsubishi Electric, Teradyne Inc. (Universal Robots), Yamaha Motor Co., Ltd., Hirata, Corporation, and Denso Wave Incorporated, among others.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the industrial robotics market report.
This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the industrial robotics market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Product Managers
- Business Development Officers
- Production Managers
- Procurement Heads
- Sales Executives
- Raw Material Suppliers
- Industry Experts
- End Users
- Current market dynamics and challenges
- Yesteryear trends
- Market characteristics
- Market performance and growth quadrants
- Competition structure and market structure
- Strategic growth initiatives
- Near-term and long-term market growth prospects
- Market segment splits and authenticity
- Opinions on market projections and validity of assumptions
- Industry Publications
- Industry Associations
- International Trade Association
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits
Industrial Robotics Market Reports - Table of Contents
3. Key Market Trends
4. Key Success Factors
33. Assumptions and Acronyms Used
34. Research Methodology