?Along its trajectory, the market is expected to cross $37 billion by 2018.?
The global industrial robotics market is expected to grow at a CAGR of 5.4 percent through to 2020, reaching a market size of $37B in 2018 and then $41B in 2020.
In 2012, the market was valued at $26.8B.
Rapid growth in automation demands, coupled with reduction of duties on refurbished goods in Asia Pacific region, has fueled the growth of this market.
Industrial robotics is expected to be used in alternative application areas in growing markets. The key area such as electronics, which is still growing at an increasing rate, has witnessed penetration of industrial robotics in a significant manner. Another key application that industrial robotics might find penetration is healthcare.
Nanorobotics is gaining importance in the field of industrial robotics. It is gaining momentum in health care and other niche markets. Nanorobots help in mixing the right compound as per instructions and result in decreasing lead time, which in turn helps the company to meet the demand of these medicines from the consumer.
More specifically, we need to follow the demand stream.
The global demand anticipates that over the next five years, the bulk of the demand for industrial robots will come from China, closely followed by the United States, Japan, South Korea and Germany, reported Tech & Innovation Daily.
But as emerging markets continue to grow, countries like Brazil, India, Russia and Indonesia are emerging as new manufacturing hubs. So their demand will rise, too.
Among major robot types i.e. articulated robots, cylindrical robots, SCARA robots, and cartesian robots; articulated robots is the largest segment, accounting for $12.9B in 2012, owing to increasing usage of these robots currently in emerging industries such as packaging and healthcare sectors.
However, cylindrical robots and other types of robots such as customized and refurbished robots are expected to grow at significant pace in the coming years due to their increasing demand in industrial sectors in Asia Pacific region. Cylindrical and other types of robots are estimated to grow at a CAGR of 6.5 percent and 7.5 percent, respectively, over the forecasted period.
Based on industries served, the market is segmented into automotive industry, electrical and electronics; chemical, rubber and plastics; machinery; metals industry; food and beverages; precision and optics, etc. Among these, automotive industry segment dominated the market in 2012 at $7B.
However, the segment is expected to witness low growth owing to slow down in the automotive industry. The food and beverages segment is expected to witness highest growth rate of 6.9 percent over the forecast period owing to rising food and beverages industry.
Moreover, the rising need and customized solutions to make the process faster especially in unexplored regions such as Brazil, Argentina, and South Africa is expected to drive the growth in food and beverages industry.
On the basis of functions performed by such robots, the market is segmented into soldering and welding; materials handling; assembly and disassembly, painting and dispensing, cutting and processing, milling, and others.
Materials handling is the largest segment by function in the industrial robotics market.
In 2012, Asia Pacific was the largest revenue generator that accounted for 49 percent of the total market share.
The dominance of Asia Pacific is attributed to growth in number of countries such as China, India, Japan, Taiwan and Australia among others investing heavily in research and development infrastructure developments.
Similarly, North America and Europe collectively accounted for over one-third of the market share, as these regions have been continually focusing on research and development and have been using industrial robotics for the same.
