$40 billion US industrial robotics market by 2020Click image to enlargeThe global industrial robotics market is expected to exceed USD 40 billion by 2020, according to a new study by Grand View Research, Inc.

Increased demand from the automotive industry, coupled with growing labor costs has consequently encouraged industrial robots' deployment in manufacturing. Increased emphasis on production quality in order to ensure survival in the competitive manufacturing sector is expected to drive the industrial robotics market. Growing measures pertaining to laborers' safety have resulted in substitution of manual labor in industries by robots, thereby augmenting industrial robotics demand.

Growing adoption of robots in non-automotive applications such as electronics, chemicals, and food & beverages has opened up new avenues for industrial robotics in recent years. High installation costs may make industries in developing markets circumspect about the adoption of robots, which may hinder market growth. Unavailability of skilled labor and technicians is expected to pose a challenge to companies operating in the market.

Further key findings from the study suggest:

  • Automotive robots accounted for the highest market volume share in 2013 and are expected to dominate the market over the forecast period owing to the opening up of avenues through new markets and technologies. Adoption of robots in food processing and heavy machinery industries is expected to grow at a high rate throughout the forecast period.
  • Asia Pacific constituted a key regional market in 2013, which can be primarily attributed to significant investments by automotive manufacturing companies in their pursuit of extending global influence. China, Japan, and Korea dominated industrial robotics installation in 2013, whereas India, Taiwan, and Singapore are expected to show high growth potential. Modernization of factories, coupled with increase in production capacities has accelerated the pace of robot installations in North America. Substantial investments in robotics by automotive industries in Europe resulted in several robots being installed, with Germany leading the number of installations.
  • The global industrial robotics market is characterized by the presence of several Japanese suppliers such as Fanuc, Denso, and Motoman. Europe consists of major specialized industrial robotics companies such as Comau and Kuka, as well as renowned conglomerates having a significant presence in the industrial robotics market space such as ABB and BAE Systems. Prominent robot clusters comprising suppliers, R&D and education institutions have been formed worldwide. For instance, U.S. based iRobot comprises a cluster of spin-out companies, research institutes, and suppliers.

Global Industrial Robotics Market

Similar Articles

Manufacturing group forms Jim Flaherty bursary

Canadian Manufacturers and Exporters (CME) has unveiled the Jim Flaherty bursary for students enrolled in manufacturing programs at the University of Ontario Institute of Technology (UOIT)

Manufacturing Day improves industry profile: survey

Manufacturing Day 2015 events across North American have helped to improve the perception of industry among the public, according to a Deloitte survey.

Manufacturing spurs Canada's biggest job gains in 7 months

A surge in employment in the manufacturing sector helped Canada's economy gain 58,000 jobs in May, the biggest gain in employment in seven months, according to the latest figures from Statistics Canada.

Federal government supports advanced manufacturing

Canadian Manufacturers and Exporters (CME) and Siemens are getting a helping hand from the Federal government to support a project for training and certification for youth for careers in advanced manufacturing fields.

Canada, Ontario support auto investment

The Federal and Ontario governments have created a sub-committee under the Canadian Automotive Partnership Council (CAPC) to promote investments in automotive manufacturing in Ontario.

Stay In Touch

twitter facebook linkedIn