888-776-0942 from 8 AM - 10 PM ET
NEW YORK , Sept. 19, 2022 /PRNewswire/ -- The "Articulated Robots Market by End-user and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the articulated robots market between 2021 and 2026 is USD 6.59 billion . To estimate the market size, Technavio has considered various aspects including recent developments in the industrial machinery industry, investments related to CAPEX in the industrial sector, revenue generated by industrial machinery manufacturing companies, GDP growth, commodity price fluctuations, and purchasing managers index (PMI) among others. Understand the scope of the full report by Downloading PDF Report Sample.
The market is driven by the growing demand for articulated robots in APAC. Rapid industrialization in countries such as India , Japan , China , North Korea , and South Korea has positively influenced the demand for articulated robots in APAC. In addition, governments in APAC are undertaking various initiatives to boost domestic manufacturing sector. Made in China 2025, Manufacturing 3.0 by South Korea , and Productivity 4.0 by Taiwan are some of the initiatives that are creating a lucrative market for articulated robots. Moreover, the thriving automotive, electrical and electronics, chemical, and food and beverage industries in APAC are expected to further influence the growth of the global articulated robots market during the forecast period.
In addition, the increasing demand from the automotive industry will have a positive impact on the growth of the market.
However, the shortage of skilled labor will challenge the growth of the market. Handling robotic technologies require a skilled workforce that understand data exchange between robots and the assembly line. The workers should be skilled enough to gain insights and analyze data. However, the lack of such skillset limits the benefits of advanced technologies such as articulated robots. In addition, the growing aging population in the workforce in European countries and in the US has created a demographic crunch, which is resulting in a shortage of skilled workers. All these factors will reduce the growth potential in the market.
The articulated robots market report is segmented by end-user (automotive, electrical and electronics, heavy machinery, metal, and others) and geography (APAC, Europe, North America , the Middle East and Africa , and South America ).
The automotive industry is the prime end-user in the market. The segment is driven by the increased use of articulated robots in various applications such as welding, palletizing, bearing assembly, brake line assembly, fuel injector assembly, mirror and glass assembly, and painting. In addition, factors such as the increasing complexity in the manufacturing of passenger cars, the rising popularity of electric vehicles, and growing concerns over labor safety will foster the growth of the segment during the forecast period.
APAC will dominate the market, occupying 39% of the global market share. The region is home to some well-established vendors such as FANUC, Yaskawa Electric, Kawasaki Heavy Industries Ltd. (Kawasaki Heavy Industries), Mitsubishi Electric Corp. (Mitsubishi Electric), Seiko Holdings Corp. (Seiko Holdings). In addition, the emergence of APAC as a major hub for automobile, electronics, and metal industries is driving the growth of the articulated robots market in APAC.
Key vendors identified in the report:
To gain access to more vendor profiles with their key offerings available with Technavio. Buy Full Report Now
Accelerate at a CAGR of about 10.12%
APAC, Europe, North America, Middle East and Africa, and South America
US, China, Japan, Germany, and UK
Leading companies, competitive strategies, consumer engagement scope
ABB Ltd., Comau Spa, DAIHEN Corp., DENSO Corp., Epson Europe B.V, FANUC AMERICA CORPO., HIRATA Corp., Hiwin Corpo., HYUNDAI ROBOTICS, IAI Industrieroboter GmbH, Kawasaki Heavy Industries Ltd., MIDEA Group Co. Ltd., Mitsubishi Electric Corp., NACHI-FUJIKOSHI CORP., NIMAK GmbH, OMRON Corp., Shibaura Machine Co. Ltd, Staubli International AG, Yamaha Motor Co. Ltd., and Yaskawa Electric Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email:[email protected] Website: www.technavio.com/
More news releases in similar topics
Cision Distribution 888-776-0942 from 8 AM - 9 PM ET