Articulated Robot Market to Touch USD 22,939.2 Million by 2026: Transparency Market Research

Articulated Robot Market to Touch USD 22,939.2 Million by 2026: Transparency Market Research

PR Newswire

ALBANY, New York, July 10, 2018

ALBANY, New York, July 10, 2018 /PRNewswire/ --

The global articulated robot market was valued at US$ 6,053.2 Mn in 2016 and is projected to register compound annual growth rate (CAGR) of over 14.22% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled "Articulated Robot Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 - 2026." The report suggests that rising use of articulated robots across automotive, medical & pharmaceutical, and food and beverages industries worldwide along with the increasing trend toward "Industry 4.0" or factory automation is likely to spur the demand for articulated robots in the coming years (2018 to 2026). As key players introduce new articulated robots in developed markets such as North America, Europe, and Asia Pacific, these regions are likely to account for dominant share of the global articulated robot market. Growing demand for articulated robots from the growing electronics manufacturing services industry in emerging markets such as China, Japan, and Republic of Korea is likely to boost growth of the Asia Pacific articulated robot market at a growth rate of around 15% from 2018 to 2026.

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Gantry type industrial robots as an alternative to articulated robots for heavy applications to affect the expansion of articulated robot's worldwide 

Articulated robots are very useful for different applications ranging from painting a car to soldering any component. However, sometimes it is not able to perform certain functions because of heavy load nature of certain applications. Industry verticals such as aerospace, and oil & gas, among others generally manufacture larger parts using industrial robots. Furthermore, many articulated robots such as KUKA Titan, and 6-axis articulated robots are very powerful and can move large steel girders.

Even though articulated robots can perform various functions including painting and welding and certain articulated robots can even handle higher payload, manufacturing companies sometimes need alternative solutions such as gantry robots for larger applications. These robots are heavily adopted across Europe and are expected to catch up slowly across the U.S.

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Articulated robots are significantly adopted across the automotive sector around the globe 

On the basis of industry verticals, 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 verticals. Automotive industry vertical is expected to hold a market share of 23.81% in 2026 and expand at a CAGR of over 13% during the forecast period. Articulated robots used in the manufacturing of cars give automotive players a competitive advantage. These robots not only improve quality but also help in making the process simple and protect workers during jobs which are hazardous and complex. Articulated robots are deployed across the assembly plants in a car manufacturing unit and used for many applications such as painting and spot welding. Furthermore, articulated robots help in reducing product inconsistency and never get tired or distracted; hence, every function is performed in a similar manner. Additionally, these robots can handle payloads ranging from low to high without affecting the precision and speed.

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Asia Pacific is the leading contributor to the articulated robot market 

In terms of value, Asia Pacific was the leading contributor to the global articulated robot market in 2017. The contribution is primarily due to the booming articulated robot marketplace with the presence of well-established players across the region, especially across China, Japan, Republic of Korea, and India. Asia Pacific is home to many well-established players from 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 among others. 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 from various industries. In April 2017, TOSHIBA MACHINE CO., LTD. started sale of its novel TVM series i.e. TVM900, TVM1200, and TVM1500 vertically articulated robots. The new robots will have a longer reach, accuracy, and higher payloads to handle various materials. Furthermore, it will also help in increasing the overall assembly productivity.

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Key Players such as ABB LTD., TOSHIBA MACHINE CO., LTD, FANUC CORPORATION, YASKAWA Electric Corporation, and Mitsubishi Electric Corporation are likely to lead the global articulated robot market

ABB LTD., TOSHIBA MACHINE CO., LTD, FANUC CORPORATION, YASKAWA Electric Corporation, and Mitsubishi Electric Corporation among others are some of the major players operating in the articulated robot market profiled in this study. Various players are providing novel articulated robots to cope with the continuously changing technology. For instance, in 2017, Kawasaki Heavy Industries, Ltd. announced the launch of its compact multi-axis vertically articulated robots named "RS007N" and "RS007L." These compact articulated robots with payload capacity of 7Kg with 6-axis will fulfill the increasing demand from the electronics and food industry.

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The global articulated robot market has been segmented as follows:

Global Articulated Robot Market, by Components 

Global Articulated Robot Market, by Payload Capacity 

Global Articulated Robot Market, by Industry Verticals 

Global Articulated Robot Market, by Geography 

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