Expanding demand for industrial robotics to maintain reliability and sustainability of the industries prompts numerous developments in this sector. Recovery in automotive industry and sustained momentum from food sector will be key to industrial robots recovery in 2021, finds new edition of the widely cited report on Industrial Robots by Future Market Insights (FMI). According to the study, demand for industrial robots witnessed a deceleration in 2020, however, as economic recovery has commenced, manufacturers can look forward to opportunities to emerge.

The latest edition (2021-2031) of the study builds upon the previous version, recalibrating market estimates for COVID-19 impact. The competitive landscape of the section has also been expanded to include changes in market structure, including M&As, divestures, and new forays.

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“Investment in industrial robots was looking up before COVID-19 crisis. Although a sudden deceleration occurred in 2020, the long-term prospects of the market remain strong,” says an FMI analyst.

Key Takeaways

• Industrial robot sales to rebound after a period of deceleration in 2020, as manufacturing industries look for resumption of activities
• End-users are likely to ramp up demand for customized machinery, which will influence manufacturing activity
• Asia Pacific continues to be one of the leading markets for industrial robots, as many economies in the region have been relatively less impacted
• Growing emphasis on factory automation and IIoT will create positive sentiment on industrial robots

Prominent Drivers

• Manufacturing industry is readying for the future of manufacturing, creating substantial opportunities for market players
• Broader focus on improving plant efficiency continues to create opportunities
• Rise of e-commerce during the COVID-19 pandemic has created additional requirement for industrial robots in warehouse management

Key Restraints

• The high cost of deployment of robots continues to be a deterrent, especially among small and medium enterprises
• Technical know-how and scheduled periodic maintenance continues to inhibit new sales
• Lack of adequate infrastructure for incorporating industrial robots remains a key challenge

Competitive Landscape

Some of the players profiled in the industrial robots market include Denso Corporation, Kawasaki Heavy Industries, Brenton, LLC, Krones AG, Mitsubishi Electric Corporation, YASKAWA Electric Corporation, KUKA AG, Fanuc Corporation, ABB Limited among others.

December 2019 – Fanuc has delivered collaborative robotics CRX-10iA and CRX-10iA/L (long arm adaptation) that set new standards for reliability, unwavering efficiency, and well-being. The new robots were unveiled by FANUC at the INTERNATIONAL ROBOT EXHIBITION 2019, Dec. 18-21 in Tokyo.

June 2019-The world’s first regular interface for cooperative robotics was made by ABB and Kawasaki as their big projects. In many firms, the normal interface is ready to better fix the shortage of talented laborers.

March 2020 – The launch of the HC20XP collaborative robot was done by Yaskawa Motoman. The 20 kg payload HC20XP cooperative robot highlights hand-guided preparation for the use of a robot framework and is ideal for applications where robots need to operate comfortably or near humans.

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More Valuable Insights on Industrial Robots Market

Future Market Insights, in its new offering, provides an in-depth analysis of the global Industrial Robots Market, displaying data on historical demand (2016-2026) and forecast data for the period, 2021-2031. The study provides readers with essential insights on the Industrial Robots Market on the basis of applications Material Handling, Welding & Soldering, Assembly & Disassembly, Painting & Dispensing across 6 key regions (North America, Latin America, Europe, Japan, APEJ, and MEA).