Global Industrial Robotics Market was Valued at US$ 14758.88 Mn in 2019 Growing at a CAGR of 14.21% - says Absolute Markets Insights

PUNE,India,Dec. 15,2020 --

The COVID-19 pandemic is expected to positively impact the global industrial robotics market. Industries are increasingly moving towards automation of manufacturing and related processes through the use of robots. Lockdown measures formulated by government bodies has caused a dearth in human workforce,and this has accelerated the adoption of robots in industries like food and beverages,automotive,manufacturing,and pharmaceutical,amongst others.

Industrial Robotics Market was Valued at US$ 14758.88 Mn in 2019 Growing at a CAGR of 14.21%

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The APAC region is expected to show considerable growth during the forecast years in the global industrial robotics market. This is because of the higher demand for automation of processes in manufacturing-based countries such as China and Japan,and emerging manufacturing centers like Malaysia,Indonesia and India. The rise in minimum wage demands in China paving way to higher degree of automation. Furthermore,the demand for industrial robots has seen a steep rise in China from January to June 2020,due to the spread of the Coronavirus. The country is also seeing a rise in local industrial robot manufacturers,which are benefiting from government policies that support manufacturing. Shenyang SIASUN robot,for instance,is an industrial robot manufacturer based in Liaoning,China which produces a range of industrial robots which is suitable for industries like electronics,automotive and chemical,amongst others. The SR360A/500A model is built on an open independent control system,and multiple applications are being supported by this. The Chinese manufacturers are able to provide robotic systems and spare parts at a lower cost.

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Some of the players operating in the global industrial robotics market are ABB,Comau S.p.A.,DENSO Products and Services Americas,Inc.,Dürr Group,Epson America,FANUC CORPORATION,Franka Emika GmbH,Genesis Systems,IGM ROBOTERSYSTEME AG,Kawasaki Heavy Industries,Ltd.,KUKA AG,Mitsubishi Electric Corporation,NACHI-FUJIKOSHI CORP,OMRON Corporation,Rethink Robotics GmbH,SCHUNK,Shenyang SIASUN robot,ST Robotics,Stäubli International AG,Universal Robots A/S,Waygate Technologies,Wittmann Battlefield Group,Yamaha Motor Co.,Yaskawa America,amongst others.

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