An industrial robot is created so that it can perform regular pre programmed manufacturing and processing tasks in any manufacturing assembly line. Industrial robots perform a huge array of tasks beginning from winding the cords and screws, assembly of various components to finishing the product. With multiple arms, technology industrial robots can perform many tasks at a single point of time. Today robots are given prime importance in large scale manufacturing because robots can replace human labor in performing high risk tasks; thus, their performance is precise and accurate.
The industrial robotics market is expected to experience huge growth in the near future with a CAGR of 5.5%. It is further forecast that with this CAGR, the global industrial robotics market shall be worth USD 32.9 billion by 2017.it is estimated that the worldwide industrial robotics market will have a volume of approximately 1,500,000 units by 2017 whereas the estimated volume in 2011 is 1,100,000 units worldwide.
Though today industrial robots are used almost in every sector, there are certain industries where the prevalence of industrial robots is comparatively higher and also see huge growth potential in future. The major industrial robotics markets are automobiles, science and space projects, arms and ammunition industry and chemical industry. The other novel industries where both existing and new entrants in the market can find huge growth opportunity are plastic and rubber and garment industry.
The major growth drivers of industrial robotics industry is; their efficiency in performing high risk and hazardous tasks thus replacing humans in such tasks. Another major influence is that robots perform preprogrammed tasks and with modern multiple axis arms technology, robots can perform several tasks at the same time, thus they improve both effectiveness and efficiency, and also help in saving the average lead time. Technical innovation and use of hydraulics in robotics is also a major growth influence in the robotics market.
However the biggest holdback of this sector is the initial installation price. The robots used in industries are highly sophisticated and thus are very costly. The initial installation price of is way high and thus medium level industries are still reluctant to employ sophisticated robots in their manufacturing process.
The industrial markets on the basis of their robotic usage can be segmented as Articulated, Cartesian, Cylindrical, Polar, SCARA and Delta Robots. The major geographical market segments include all the five continents. Further within these geographical zones, industrial robotics enjoy dominance in developed nations in Asia and North America. With novel projects in pipeline Japan enjoys dominance in both production as well as consumption of industrial robots. It is expected that sale of industrial robots will also increase in China and other parts of South East Asia. Latin America will also experience huge growth.
As far as the market players are concerned, Japan enjoys dominance in the global industrial robotics market. The major market players in the world industrial robotics market are Yamaha Robotics, Kawasaki Robotics, ABB Ltd., DENSO Robotics, Kuka AG, Adept technologies and others.
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