during the forecast period. The expected shortage of skilled labor in manufacturing industries and the increasing adoption of Industry 4.0 is one of the primary factors for the deployment of industrial robots among the factors driving the demand for industrial robots.
NEW YORK, Oct 17, 2022 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of the report “Industrial Robots Market by Type, Component, Payload, Application, Industry, and Region – Global Outlook to 2027” – https://www.reportlinker.com/p05012871/?utm_source=GNW
The advent of Industry 5.0 will enhance the growth potential of industrial robots in the coming years. Interoperability and integration issues with industrial robots and the high cost of deployment for SMEs will constrain market growth.
The application handling market will grow at a higher CAGR during the forecast period
The handling applications segment of the industrial robots market for traditional robots, in terms of freight, shows a trend similar to that of the market; It is expected to represent the largest market size and highest growth rate in the forecast period due to the integration of traditional low-weight industrial robots with Automated Guided Vehicles (AGVs) to make them mobile. And packing, loading and unloading are common and applicable in most industries.
Handling application includes many sub-applications such as material handling, machine care as well as box picking, which is currently thriving. Industry-wide handling application is used in diverse industries ranging from automotive, chemical, electrical, and electronics to food and beverage; Thus it was expected to account for about 45% of the industrial robots market for 2021.
Robot arm component market is growing at the highest CAGR during the forecast period
The degree of industrial automation has increased significantly in recent years due to increased productivity, reduced labor costs, increased efficiency in production processes, and improved product quality. Oil and gas will be more inclined towards automation due to intense competition in the market and the need to stay ahead of competitors by improving product quality and production speed.
Robots have transformed automation to a great extent, in recent years there has been a boom in the market for robot arms.
This demand is expected to escalate further during the forecast period from 2022 to 2027.
Asia-Pacific to create the highest growth opportunities for the Industrial Robots market among other regions during the forecast period
Asia Pacific countries are experiencing an increase in the demand for industrial robots and this demand is expected to grow at a significant rate during the forecast period as well, APAC is one of the major manufacturing centers in the world and is expected to provide significant growth opportunities for the industrial robots market.
Low production costs, ease of labor availability, lax safety and emissions standards, and government initiatives for foreign direct investment are key factors fueling the growth of this market in the Asia Pacific region. Rising labor costs, resulting in the increasing adoption of automation.
The increasing population is also attracting companies to invest in the Asia Pacific region, and China is expected to remain the largest market for both traditional and collaborative robotics.
The country imports industrial robots as well as manufactures them locally. The market for industrial robots in the automotive sector is expected to remain the largest for most countries in the Asia-Pacific region with the exception of Taiwan. The electrical and electronics industry is the second most important driver of industrial robotics market growth in the Asia Pacific region, due to the increasing demand for electronic products worldwide.
In the process of quantifying and verifying the market size of various segments and sub-segments collected through secondary research, extensive primary interviews were conducted with key industry experts in the field of Industrial Robots Market. The breakdown of the report’s primary participants is illustrated below:
• By company type: Level 1 – 40%, Level 2 – 40%, Level 20%
• By designation: C-level executives – 50%, managers – 30%, others – 20%
• By region: North America – 30%, Asia Pacific – 40%, Europe – 20%, Middle East – 5%, RoW – 10%
The report provides a glimpse of the major players within the Industrial Robots market with analysis of their market classification. The notable players featured in this report are FANUC Corporation (FANUC (Japan)), ABB (Switzerland), Yaskawa Electric (Yaskawa (Japan)), KUKA (Germany), Mitsubishi Electric (Japan), Kawasaki Heavy Industries (Japan), DENSO (Japan), Japan), Nachi-Fujikoshi (Japan), Seiko Epson (Japan), Dürr (Germany), among others.
This research report categorizes the Industrial Robots market on the basis of type, payload, component, application, end-use industry, and region, the report describes the main drivers, restraints, challenges, and opportunities related to the Industrial Robots market and predicts the same up to 2027.
Apart from that, the report also consists of driving mapping and analysis of all companies included in the industrial robotics ecosystem.
The main benefits of purchasing the report
The report will help market leaders/new entrants in this market with information on the earliest estimates of revenue figures for the overall Industrial Robots market and sub-segments, this report will help stakeholders to understand the competitive landscape and gain more ideas to improve their business position and plan appropriate market entry strategies.
The report also helps stakeholders to understand the pulse of the market and provides them with information on the major market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05012871/?utm_source=GNW
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