Global Industrial Robotics Market to Reach USD46 Billion by 2020
Increasing labor cost, rising focus on efficient production and
process automation, coupled with growing demand for better quality products to
drive global industrial robotics market
According
to a recently released TechSci Research report, “Global Industrial Robotics Market Forecast
and Opportunities, 2020”, global market for industrial robotics
is projected to reach USD46 billion by 2020. Growing adoption of industrial
robots across various industries including automotive, electrical/electronics,
food and beverage, among others, is the key factor driving the market for
industrial robotics. Consequently, industrial robot shipments in chemical,
rubber & plastics, and metal & machinery industries have been
witnessing robust growth over the last five years, with the trend expected to
continue in coming years as well.
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Global
industrial robotics market is dominated by Asia and Europe, with China, Japan,
Republic of Korea, Germany, France, Italy and the United Kingdom being the key
markets. These two regions are expected to cumulatively account for
three-fourths of global market in volume terms by 2020. Increase in labor and
manufacturing costs is compelling manufacturers to shift their manufacturing
facilities to cost effective destinations. Asia, being a cost effective and
demand driven region, has consequently emerged as a manufacturing hub and is
forecast to maintain its dominance in the market over the next five years.
China
is the most prominent market for industrial robotics, with a significant demand
chunk emanating from automotive industry. In 2013, China surpassed Japan in
industrial robots shipments to emerge as the largest industrial robotics market
across the globe. Major players in global industrial robotics market include
ABB Ltd., KUKA Aktiengesellschaft, Denso Wave Inc., FANUC Corporation, Kawasaki
Heavy Industries, Ltd. and Mitsubishi Electric Corporation.
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“Launch
of low cost, light weight and energy efficient robots is expected to surge
demand for industrial robotics from healthcare, pharmaceutical and food
industries in the coming years. Moreover, development of collaborative robots
is anticipated to increase penetration of industrial robots in SMEs, further
driving growth in the market.”, said Mr. Karan Chechi, Research Director with
TechSci Research a research based global management consulting firm.
“Global Industrial
Robotics Market Forecast and Opportunities, 2020” has
analyzed the future growth potential of industrial robotics market across the
globe. The report provides statistics and information on market structure,
size, share and consumer behavior. The report is intended to provide
cutting-edge market intelligence and help decision makers to take sound
investment evaluation. Besides, the report also identifies and analyzes the
emerging trends, along with essential drivers, challenges and opportunities in
global industrial robotics market.
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