The COVID-19 Fallout: Industrial Robotics Market Key Growth Factors and Opportunities in 2020-2027

The market is predicted to witness a decline in 2020. As it has been noticed that most of the industries are shut down and the operational work of most of the industries are closed which have impacted the market adversely. Moreover, the initial investment for setting up of robots in the manufacturing site is very high which is predicted to hinder the market growth in the estimated timeframe. Moreover the market is predicted to get recover by Q2/Q3 2022. The market is predicted to grow due to the government initiative for implementing of industrial robots in various end use industry for increase in the production is predicted to be the major driving factor for the market in the estimated timeframe. During this coronavirus crisis situation, we are helping our clients in understanding the impact of COVID-19 on the industrial robotics market.

According to a new report published by Research Dive, the global industrial robotics market is anticipated to generate a revenue of $85.2 million by 2026, at a CAGR of 8.8% in the forecast time from 2019 to 2026. The global market segmentation has been done on the basis of type, application, industry and region. The report provides detailed information about drivers, opportunities, restraints, segmental analysis and competitive players of the market.

Factors Affecting the Market Growth

As per our analysts, improving the product at a most cost effective manner is predicted to drive the industrial robotics market in the estimated timeframe. Moreover, heavy installation cost is required to setup the industrial robot which is predicted to be the biggest restraints for the market in the estimated timeframe.

Traditional Industrial Robot is predicted to have the highest market share

On the basis of type, the industrial robotics market is further classified into collaborative industrial robots and traditional industrial robots. Traditional industrial robot generated a revenue of $26.8 million in 2018 and is estimated to rise with a CAGR of 8.0% in the estimated timeframe. Due to the lesser cost involved in the production is predicted to drive the segment in the estimated timeframe.

Assembling and Disassembling Is Predicted To Have the Maximum Market Share

On the basis of application, the industrial robotics market is classified into handling, assembling and disassembling, welding & soldering, dispensing and processing.

Assembling and Disassembling segment generated a revenue of $14.7 million in 2018 and is estimated to rise with a CAGR of 7.1% in the estimated timeframe. Most of the manufacturing unit prefers the industrial robots for assembling and dissembling as most of the work cannot be performed by the normal human being due to which It is predicted that the assembling and disassembling segment in the estimated timeframe.

Automotive segment is predicted to have the Highest Market Share

On the basis of application, the industrial robotics market is classified into automotive, electrical & electronics, plastics, rubber & chemicals, precision engineering & optics, metals & machinery, food & beverage, pharmaceuticals & cosmetics and others. Automotive segment generated a revenue of $10.4 million in 2018 and is estimated to rise with a CAGR of 7.8% in the estimated timeframe. The segment is predicted to grow due to increase in the production with the help of industrial robots as compared to humans. The industrial robots can figure out many complication where a normal human cannot due to which the automobile segment uses the industrial robots at a large extent.

Regional Breakdown of the Market

On the basis of region, the Industrial robotics market is further classified into North America, Europe, Asia Pacific, and LAMEA. Asia-Pacific region market generated a revenue of $20.7 million in 2018 and is estimated to rise with a CAGR of 8.7% in the estimated timeframe. With the presence of large number of manufacturing unit of various end use industry is predicted to drive the region market in the forecast period.

Top 9 major key players in the industrial robotics market are –

1. Mitsubishi Electric Corporation
2. Yamaha Motor Co., Ltd.
3. KUKA AG
4. Denso Corporation
5. Yaskawa Electric Corporation
6. Panasonic Corporation
7. Daihen Corporation
8. Kobelco Paint Robot
9. Kobe Steel Limited

Reference: https://www.researchdive.com/press-release/global-industrial-robotics-market.html

Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York
NY 10005 (P)
+ 91 (788) 802-9103 (India)
+1 (917) 444-1262 (US) Toll
Free : +1 -888-961-4454
Email: support@researchdive.com
LinkedIn: https://www.linkedin.com/company/research-dive
Twitter: https://twitter.com/ResearchDive
Facebook: https://www.facebook.com/Research-Dive
Blog: https://www.researchdive.com/blog
Follow us on: https://covid-19-market-insights.blogspot.com

Growth Outlook: Healthcare Gamification Market Expand their Businesses with New Investments

Download FREE Sample The healthcare gamification market share is predicted to grow at a CAGR of 11.9% by generating a revenue of $47,281.5 Million by 2026. Gamification includes applying the techniques used in game, mechanics of game, and game style in non-gaming applications to engage the audience and make the dull task into more fun and engaging. Basically it is an application of elements in video games, which helps to solve the everyday problem and enables the user to change the behavior, develop skills and enable innovation in health care. The goal of the gamification is to change the behavior of the patient. The increase in the wearables and health & wellness app with gamification is the strong sign that the people are liking it. The increase in the usage of digitalization and the technology adoption are expected to drive the healthcare gamification market. Many companies are using the digital platform for the people to check their health data. For...

COVID-19 Impact: What Challenges Hand Sanitizer Market May See In Next 5 Years?

Inquire Here Before Purchase and Get FREE Sample The communal transmission of COVID-19 has created a significant impact on the hand sanitizer market growth, throughout the projected timeframe. The growth of the global hand sanitizer market is mainly driven by the rising concern about personal safety among the customers. Furthermore, the extensively growing prevalence of viral disorders globally is also creating a huge demand for hand sanitizers, in the review period. Though the businesses across the globe have strictly imposed lockdown in order to reduce the impact of the pandemic spread, the global hand sanitizer industry has shown exponential growth. The ventures involved with hand sanitizer production are adopting numerous strategic steps like product & technology advancements, strategic tie-ups. For example, in June 2020, Procter & Gamble (P&G), has made an announcement to launch of newly invented ‘safeguard sanitizer’. In addition, the enterpris...

What are the Left Atrial Appendage Closure Devices Market Key Insights and COVID-19 Business Impact?

Download FREE Sample Connect with Analyst The COVID-19 outbreak has significantly affected the global left atrial appendage closure devices market. As per American Heart Association, people having high blood pressure, heart valve disease and congenital heart diseases are expected to develop severe coronavirus symptoms. Also, this virus can generate heart strokes through weakening of muscles of the heart. These fators will boost the demand for left atrial appendage closure divices and surge the market growth during the pandemic. Furthermore, the leading manufactures in the global market are adopting various strategies such as product innovations and partnerships to increase their market share in the overall industry. For example, in July 2020, Boston Scientific Corporation announced that the “Watchman FLX left atrial appendage closure device” has been approved by U.S. Food and Drug Administration, which is used to minimize the threat of heart stroke in patients. The stroke r...

MyTrade-Insights

Search This Blog