Global Industrial Robotics Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024 Industrial Robotics Market report contains a forecast of the next 5 years, starting 2019 and ending 2024 with a host of metrics like supply-demand ratio, Industrial Robotics market frequency, dominant players of Industrial Robotics market, driving factors, restraints, and challenges. The report also contains market revenue, sales, Industrial Robotics production and manufacturing cost that could help you get a better view on the market. The Report Focuses on the key Global Industrial Robotics manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
The global industrial robotics market was valued at USD 18.05 billion in 2018 and is expected to reach USD 40.75 billion by 2024, at a CAGR of 14.11% over the forecast period (2019 – 2024).
Top Companies in the Global Industrial Robotics Market: ABB Ltd., Yaskawa Electric Corporation, Denso Corporation, Fanuc Corporation, KUKA AG, Kawasaki Robotics, Toshiba Corporation, Panasonic Corporation, Staubli Mechatronics Company, Yamaha Robotics, Epson Robots, Comau SPA, Adept Technologies, Nachi Robotic Systems Inc. And others.
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Key Market Trends
Automotive End-User Industry to Hold Major Share
The growing adoption of automation in the automotive manufacturing process and involvement of digitization and AI are the primary factors driving the demand for industrial robots in the automotive sector.
In 2017, more than 170,000 robots took part in the production process in the European automotive industry. The growing presence of robots and automation in the European automotive industry is expected to fuel the market for industrial robots further in the region.
According to the Robotic Industries Association (RIA), in the first quarter of 2018 shipments to the automotive OEM sector were down by 43%, while units shipped to the automotive component industry increased by 42% in North America.
North America Region to Hold Significant Share
According to the Association for Advancing Automation (A3), the North American automation market had set new records very recently. For the first nine months of 2017, 27,294 orders of robots, valued at approximately USD 1.473 billion, were sold in North America.
Modern manufacturing facilities in North America are relying on new technologies and innovations to produce higher quality products at faster speeds with lower costs. In order to survive in the current competitive scenario, they are implementing more intelligent software and hardware.
With over five heavy-duty assembly plants, over 540 OEM parts manufacturers, 400 dealerships, and many other automotive-related industries, Canada is the 9th largest vehicle producer in the world, and the automotive sector is the biggest contributor to the manufacturing industry of the country.
According to the government of Canada, the country’s automotive suppliers export parts globally and are integral to Canada’s automotive sector, which accounts for over USD 34 billion in sales annually.
Regional Analysis For Industrial Robotics Market:
For comprehensive understanding of market dynamics, the Global Industrial Robotics market is analyzed across key geographies namely: North America (Global Canada, Mexico), Europe (Germany, UK, France, Rest of Europe), Asia Pacific (Global, Japan, Global Rest of Asia Pacific), Latin America (Global, Argentina, Rest of Latin America) And Rest of the World.
The report has 150 tables and figures browse the report description and TOC:
What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a Global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Industrial Robotics Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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