COVID-19 Impact on Industrial Robotics - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global COVID-19 Impact on Industrial Robotics Market is accounted for $39.64 billion in 2019 and is expected to reach $101.72 billion by 2027 growing at a CAGR of 12.5% during the forecast period. Some of the key factors propelling the market growth include Dearth of skilled labor and solicitation of proposals by governments, public-private companies to mitigate the adverse impact of COVID-19, increasing investments for innovations and automation in industries. However, high installation cost of industrial robots, especially for small and medium-sized enterprises is likely to hamper the market.
An industrial robot is a robot system used in manufacturing industries. These are automated, programmable and capable of movement on three or more axis. In simple terms, it is described as a programmable, mechanical device used in place of a person to perform dangerous or repetitive tasks with a high degree of accuracy. They are designed specifically for different applications such as welding, painting, assembly, pick and place for printed circuit boards, packaging and labeling, palletizing, product inspection, and testing in manufacturing industries.
By end user, automotive segment is anticipated to grow at the significant rate during the forecast period. The automotive industry continues to use industrial robots in their assembly line. The industry has seen the most extensive use for robots in manufacturing and assembling components such as engines, chassis, axles, and brakes. The automotive industry is one of the largest users of industrial robots; however, the market is expected to be severely affected due to the COVID-19 pandemic. The pandemic has hindered production and significantly reduced consumer demand. Due to this, vehicle manufacturers are expected to reduce their investments in automation, affecting the market for industrial robots.
On the basis of geography, APAC is projected to have considerable market growth during the forecast period, owing to decrease in the sales of industrial robots in countries like China due to the falling demand from the automotive sector and the effects of the US-China trade war. The automotive and electrical & electronics industries are the most important drivers for traditional industrial robots in APAC. Although China is expected to witness a decline in growth from 2020 onwards, due to trade restrictions and the COVID-19 pandemic, it is still likely to remain a significant market in APAC.
Some of the key players in COVID-19 Impact on Industrial Robotics Market include FANUC, KUKA, Omron Adept, Doosan Robotics, ABB Group, Yaskawa Electric Corporation, Durr AG, Cyberdyne, Stryker, Kawasaki Heavy Industries Ltd., Mitsubishi Electric Corporation, B+M Surface Systems, Bosch Group, General Electric, Northrop Grumman, Denso Corporation, Nachi-Fujikoshi Corp., Seiko Epson Corporation, Panasonic Corporation, and Yamaha Motor Co., Ltd.
• Traditional Industrial Robots
• Vacuum Robotics
• Laser Processing Robotics
• Automated Guided Vehicles (AGVs)
• Collaborative Robots
• Other Robots
• Material Handling
• Cutting and Processing
• Assembling & Disassembling
• Painting & Dispensing
• Soldering & Welding
• Milling & Grinding
• Mobile Robots
• Mounted Robots
• 0-20 KG
• 20-80 KG
• 80-300 KG
• 300-1000 KG
• 1000-3000 KG
• End Effector
• Power Supply
• Robot Controller Unit
• Robotic Arm
End Users Covered:
• Precision Engineering and Optics
• Pharmaceuticals and Cosmetics
• Electrical and Electronics
• Metals and Machinery
• Chemicals, Rubber, and Plastics
• Food & Beverages
• Home Appliances
• Robot Machines
• Peripherals & System Engineering
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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