Articulated Robot Market is expected to rise from its initial estimated value of USD 11.09 billion to an estimated value of USD 38.17 billion by 2026, registering a CAGR of 16.71% in the forecast period of 2020-2026. Articulated robots are those industrial robots with rotatory joints so that they can perform any movement correctly and repeatedly.
They are usually used in the manufacturing industry so that they can perform function like welding, sealing, picking, assembling, painting etc. they are usually powered by electric motors. Growth in the manufacturing industry is the major factor fuelling the growth of this market.
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Major Market Competitors/Players: Global Articulated Robot Market
Few of the major competitors currently working in the global articulated robot market are ABB, Omron Corporation, Comau, DAIHEN Corporation, DENSO WAVE INCORPORATED, Ellison Technologies, Inc., Epson America, Inc., FANUC CORPORATION, Genmark Automation, Inc., Kawasaki Heavy Industries, Ltd., Mitsubishi Electric Corporation, NACHI-FUJIKOSHI CORP., Panasonic Corporation, Rethink Robotics, Robert Bosch GmbH, Rockwell Automation, Inc., SCHUNK GmbH & Co. KG., Stäubli International AG., TOSHIBA MACHINE CO.,LTD, Universal Robots, YRG Inc., YASKAWA ELECTRIC CORPORATION.
Segmentation: Global Articulated Robot Market
- By Payload (Up to 16.00 Kg, 16.01–60.00 Kg, 60.01–225.00 Kg, More Than 225.00 Kg)
- By Function (Handling, Welding, Dispensing, Assembly, Processing, Others)
- By Industry (Automotive, Electrical and Electronics, Metals and Machinery, Chemicals, Rubber, and Plastics, Food & Beverages, Precision Engineering and Optics, Pharmaceuticals and Cosmetics, Others)
- By Type (4-Axis or Less, 5-Axis, 6-Axis or More)
- By Subsystem (Hardware, Software, Services)
- By Component (Robot Controller Unit, Robotic Arm, End Effector, Drive, Sensors, Power Supply, Motors, Others)
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Competitive Analysis: Global Articulated Robot Market
Global articulated robot market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of articulated robot market for global, Europe, North America, Asia-Pacific and South America.
- Rising investment in automation industry is driving the growth of this market
- Increasing prevalence for SMEs is another factor driving the growth of this market.
- High installation cost is restraining the growth of this market
- Increasing demand for safely handle industrial-grade operations is another factor driving the growth of this market.
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Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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