The total industrial robotics market size, which includes software, peripherals, and system engineering is expected to grow from 44.6 Bil USD to 73 Bil USD in 2025. The market’s projected compound annual growth rate of 10.4% is down by an estimated 3% from the pre-epidemic forecasted rate of just over 13%.
Particularly in developed countries, skilled labor shortages are driving demand for automation, especially in the industrial robotics market. Automation allows manufacturers to keep costs down and possess a cost advantage in the market. In the APAC region, where manufacturers are exploring ways to further automate their production processes, industrial robotics have excellent opportunities for growth.
During the five year forecast period, SCARA robots are expected to grow at the highest CAGR. These robots will play a vital role in industries such as electronics and food and beverages, primarily by preventing contamination and damage. This will be especially important for companies looking to minimize the losses brought on by COVID19.
Metals and Machinery
As many other industries have, the metals and machinery sector has suffered from the economic fallout of the epidemic. Lack of demand from the shipbuilding, automotive and construction industries has caused a downturn for metals and machinery. Nevertheless, the industrial robotics industry is expected to assist these industries in minimizing disruption in their production.
In 2018, sales of industrial robots decreased in China, a change attributed to falling demand in the automotive industry as well as the trade war between the US and China. The subsequent arrival of the COVID-19 epidemic in late 2019 and expected to continue into late 2020 has affect the traditional industrial robotics market. In spite of this, APAC remains the strongest regional industrial robotics market.
In contrast, other areas in the APAC market including Taiwan and India saw greater sales of industrial robots and further market penetration in 2018. The rising demand for electronic products is a key driver. Small and sensitive components used in electronics manufacturing necessitate the high speed and high precision handling that industrial robots can provide.
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