According to a new market report published by Transparency Market Research titled “Articulated Robot Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018 – 2026,” the global articulated robot market is expected to reach US$ 22,939.2 Mn by 2026. The market is projected to expand at a CAGR of 14.22% during the forecast period from 2018 to 2026. According to the report, the global articulated robot market will continue to be influenced by a range of factors such as rising applications of articulated robots across automotive and electronic manufacturing services industries and increasing use of articulated robots by many enterprises to boost factory automation in order to ramp up the production. Asia Pacific will continue to be at the forefront of global demand, with the market in the region growing at above 15% through 2026.
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Hardware component segment is expected to be more lucrative for the global articulated robot market
The global articulated robot market is bifurcated by components into hardware, software, and services. Hardware based component segment is expected to surpass US$ 11,300.00 Mn by 2026. Articulated robots are being extensively used across all industry verticals especially across automotive, aerospace, electronics, and food & beverages around the globe, as it is used for various applications that include soldering, painting, assembly, and palletizing. Additionally, articulated robots can handle different payload applications ranging from 16Kg to 300Kg, which makes it very useful for performing various applications with higher precision and speed. Furthermore, rising trend of factory automation or “Industry 4.0” has increased the adoption of articulated robots around the globe.
High payload capacity segment is expected to dominate the articulated robot market around the globe
On the basis of payload capacity, the articulated robot market is segmented into low, medium, high, and heavy payload capacity. The high payload capacity articulated robot segment is expected to witness higher market share, due to rising demand across automated factories to deal with heavy load applications. High capacity payload articulated robots come with payload capacity of more than 300 Kg and they are also capable of performing applications such as welding, palletizing, sealing, and cutting and can handle very large amounts of payloads. These type of articulated robots are used in automated factories to perform all kinds of heavy work with greater precision, speed, and reliability, required for many industry verticals especially aerospace and automotive.
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Electronic manufacturing services (EMS) industry vertical segment is expected to expand at a significant growth rate during the forecast period
On the basis of industry vertical, the articulated robot market is segmented into automotive, aerospace, electronic manufacturing services, food & beverages, medical & pharmaceutical, and others. Others industry verticals segment includes chemical and metal industry. Articulated robots can be easily used and deployed across electronic manufacturing services (EMS) and that has subsequently reduced the installation time and cost of implementation of robotic solutions. Articulated robots can handle smaller electronic components and perform various functions such as palletizing, wielding, and many more with greater precision and speed. Additionally, articulated robots also help in delivering superior repeatability and positional capabilities.
Asia Pacific to continue to hold significant share in the overall market
Asia Pacific is expected to hold high market share for articulated robots during the forecast period. The growth is mainly due to the booming articulated robot marketplace with the presence of well-established players across the region, especially across countries such as China, Japan, and India. Asia Pacific is a home to many well-established players in the articulated robot domain including FANUC CORPORATION, YASKAWA Electric Corporation, Kawasaki Heavy Industries, Ltd., Mitsubishi Electric Corporation, Seiko Epson Corporation, and TOSHIBA MACHINE CO., LTD. Furthermore, Asia Pacific is witnessing higher adoption of articulated robots due to continuously rising electronic manufacturing services industry. Many companies across the region are innovating technologically advanced new generation articulated robots to fulfill the demand of various industries. In April 2017, Toshiba Machine Co., Ltd. started sale of their novel TVM series i.e. TVM900, TVM1200, and TVM1500 vertically articulated robots. The new robots will have a longer reach, accuracy, and higher payloads for handling various materials. Furthermore, it will also help in increasing the overall assembly productivity.
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ABB LTD., TOSHIBA MACHINE CO., LTD, FANUC CORPORATION, YASKAWA Electric Corporation, and Mitsubishi Electric Corporation among others are some of the major players operating within the articulated robot market profiled in this study. Details such as financials, SWOT analysis, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling. Various players are providing novel articulated robots to be deployed across automated factories to perform various tasks with higher speed and accuracy. Also, market players are establishing partnerships with global distributers to increase their product reach for additional revenue generation.
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