A new market research study by Future Market Insights on the industrial robotic motors market contains global industry analysis 2014–2018 and opportunity assessment 2019–2029. The report investigates the industrial robotic motors market, and provides critical insights for the forecast period of 2019-2029. As per the findings of the report, the global industrial robotic motors market is anticipated to experience substantial growth over the forecast period, due to multiple driving factors such as, high demand for robots across end-use industries, rapid growth of automation, and implementation of global energy-efficient norms.
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The global industrial robotic motors market was valued at ~US$ 680 Mn in 2018, and is projected to increase at a CAGR of ~ 13% during the forecast period. This growth is significantly driven by the progressing automation in factories, installation of robots in a wide spectrum of service applications including healthcare, agriculture and defense, and implementation of modern robotic solutions.
- The global industrial robotic motors market size in 2019 is estimated to reach ~US 774
- The industrial robotic motors market is anticipated to grow at a CAGR of ~13% during the forecast period of 2019-2029.
- The articulated robot segment is expected to remain prominent and most preferred robot type segment in the industrial robotic motors market, owing to its high efficiency and improved productivity.
- The growth of this particular segment plays a significant role in the growth of the global industrial robotic motors market.
- East Asia is likely to account for more than half of the market shares in the industrial robotic motors industry by the end of 2029.
- The East Asia market will continue to be a prominent market for industrial robotic motors manufacturers and distributors, owing to the growing number of end-use industries and increasing preference for automation in these industries.
- The servo motor segment is likely to continue as the prominent motor type, which creates significant growth opportunities for industrial robotic motors market players.
- Servo motors are the most sophisticated motion control devices and it has witnessed significant growth over the recent past. The increased demand for precise dimensional tolerance, advance design methods, and high-force magnet material offered by of servo motors, is expected to propel the demand for servo motors in the industrial robotic motors market.
- Noteworthy application potential of servo motors such as quick reversing, exceptional performance, and high accuracy positioning are creating an upswing in the industrial robotic motors market.
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By Segment:
By Motor Type
- Servo Motor
- DC Motor
- Stepper Motor
By Robot Type
- SCARA Robot
- Delta Robot
- Cartesian/Gantry Robot
- Articulated Robot
- Collaborative Robot
- Dual Arm Robot
By Fit Type
- First Fit
- Retro Fit
By Region
- Americas
- EMEA
- South Asia & Pacific
- East Asia
Regional Analysis:
The steady increase in labor wages in the U.S., UK and Germany and increasing adoption of advanced technologies such as collaborative, cloud-base robots, and AI integrated technologies is contributing towards the substantial industrial robotics market revenue. Also, owing to the rising focus on the safety of workers in countries such as the U.S., the operations that involve dangerous tasks such as high-temperature welding is assigned to robotic systems.
Presence of government initiatives promoting the adoption of these systems fueling the Asia Pacific industrial robotics market size expansion. Various economies in the region such as China, India, Malaysia, and Japan are providing grants to regional players. The Japanese government, for instance, has funded and developed a new robotic strategy that supports SMEs to engage and enable new advance manufacturing capabilities. In addition, the region has a low and constantly declining working-class population which comprises 60% of the general population. In such a case, industrial robots are highly beneficial in boosting production output and meeting the global and regional demand.
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Uptick in demands for industrial robots across numerous industries, is set to guide the industrial robotic motors market to an impressive growth over the predefined timeframe. As the quest for ‘compact’ system intensifies, direct drive industrial robotic motors are set to gain immense application in industrial robots. Escalating prominence of Industry 4.0 is motivating manufacturers to staunchly shift towards ethernet communication in fieldbus level factory networking.
Rising labor costs across European countries, including the UK, Norway, and others, are influencing industrial operators to turn to collaborative robots or cobots, thereby potentially raising the demand for industrial robotic motors. Furthermore, government bodies are offering incentives to establishments adopting automation in the form of customs duty reduction, which is likely to work to the advantage of the market players.
Market Key Players:
Companies operating in the industrial robotics market include Denso Corporation, Fanuc Corporation, Kawasaki Heavy Industries Ltd., KUKA AG, Yamaha Motor Co., Ltd., and Mitsubishi Electric Corporation.
These market leaders are investing heavily in creating compact, light-weight robotic designs. These aid manufacturers to boost production times as they are designed to improve the speeds. Design compactness allows developers to provide lower overall costs of the robots by swapping heavy materials such as iron used in the robot body with lighter-weight materials such as aluminum and composites.