The industrial robotics market expansion in the upcoming years, Rising inclination towards automation and digitalization across several end-use industries. The flourishing manufacturing industry across the globe will propel substantial demand for industrial robotics for enhancing production capabilities and reducing the overall costs. Reportedly, the United States, with a record output of US$2 trillion in 2018, stands as the world's third-largest manufacturer after China and the EU.
Robotic assistance in industries significantly increases work efficiency by maintaining precision at work and reducing human errors. Global industrial robotics market size is projected to surpass US$80 billion by 2024.
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In an era, which has been witnessing striking advances in automation, robotics, and artificial intelligence, the global automotive industry has lauded and readily embraced the emergence of industrial robots. Numerous prominent automakers across the world have been preferring robotic intervention in their production and assembly lines over the conventional methodologies. Owing to the rapid adoption of these high-tech robots by car manufacturers to enhance efficiency and precision of the production lines, the global industrial robotics market is estimated to witness massive demand from the automotive industry. Over the past few decades, the wide-scale deployment of computer-assisted technologies has altered the manufacturing processes of the global automotive sector- a factor that has been instrumental in boosting the industry share. It would be prudent to mention that the utilization of industrial robots has revamped the production and assembly lines making them more flexible, precise, and efficient. The growing prominence of industrial robots in the automotive domain can be comprehended by the statistics published by Robotics Industries Association. Apparently, the US-based trade group has claimed that the automotive players procured more than 50 percent of the total robots sold in the nation over the past few years. The aforementioned incidences validate the enhanced work output as compared to manual labor and underline the criticality of automotive sector as a significant customer of the market.
In addition to the aforementioned aspects, a host of technological innovations to enhance the capabilities of collaborative robots, robotic hand, robotic vision, and robotic painting has further impelled the growth prospects of the industry. Encouraged by such progressive tech advancements many leading automakers are apparently transforming their manufacturing facilities by deploying pathbreaking robots. For instance, the US-headquartered electric vehicle manufacturer, Tesla Inc has been extensively installing industrial robots across its Nevada and Fremont production units to accelerate its production speed. The robots utilized by Tesla are reportedly manufactured by renowned industrial robotics market behemoths, Fanuc Corporation and KUKA, and are used to perform perilous tasks such as lifting heavy chassis and delicately assembling battery trays. The firm has further installed new ramps to mount the robots over the production line, given that the entire manufacturing process would be managed and supervised by these robots. Needless to mention, the massive acceptance of robots by automotive industry would undeniably stimulate the growth potential of the overall market.
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The German industrial robotics market outlook is predominantly augmented by some of the key regional factors including its diversified industrial base, a position as global leaders in technological advancement, and its proven engineering tradition. Ongoing technological innovations in the country are encouraging several industrial sectors to incorporate robotics to uplift production capabilities. Moreover, the presence of specialized organizations including the Robotics and Mechatronics Center at the German Aerospace Center (DLR) consolidates the country’s strength towards the advancement and manufacturing of industrial robots.
The competitive spectrum of industrial robotics market has been highly combative with numerous firms including Mitsubishi Electric Corporation, Fanuc Corporation, Denso Corporation, KUKA AG, Yamaha Motor Co., Ltd., and Kawasaki Heavy Industries Ltd making concerted efforts to overhaul their existing product spectrum.
Major Key Points from Table of Content:
Chapter 4 Industrial Robotics Market, By Product
4.1 Industrial robotics market share by product, 2016 & 2024
4.2.1 Market estimates and forecasts, by region, 2013 – 2024
4.3.1 Market estimates and forecasts, by region,2013 – 2024
4.4.1 Market estimates and forecasts, by region,2013 – 2024
4.5.1 Market estimates and forecasts, by region,2013 – 2024
4.6.1 Market estimates and forecasts, by region,2013 – 2024
4.7.1 Market estimates and forecasts, by region,2013 – 2024
4.8.1 Market estimates and forecasts, by region,2013 – 2024
Chapter 5 Industrial Robotics Market, By End-use
5.1 Market share by end-use, 2016 & 2024
5.2.1 Market estimates and forecasts, by region,2013 – 2024
5.3 Metals & machinery
5.3.1 Market estimates and forecasts, by region,2013 – 2024
5.4 Rubber & Plastics
5.4.1 Market estimates and forecasts, by region,2013 – 2024
5.5 Food & beverage
5.5.1 Market estimates and forecasts, by region, 2013 – 2024
5.6 Electrical & electronics
5.6.1 Market estimates and forecasts, by region,2013 – 2024
5.7.1 Market estimates and forecasts, by region, 2013 – 2024
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