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COVID-19 Impact on Industrial Robotics Market Worth $73.0 Billion by 2025 - Exclusive Report by MarketsandMarkets™

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MarketsandMarkets

20 Apr, 2020, 12:30 GMT

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CHICAGO, April 20, 2020 /PRNewswire/ -- The report "COVID-19 Impact on Industrial Robotics Market by Type (Articulated, SCARA, Parallel, Cartesian Robots), Industry (Automotive; Electrical and Electronics; Food & Beverages; Pharmaceuticals and Cosmetics), and Region – Global Forecast to 2025", published by MarketsandMarkets™, Post-COVID-19, the global traditional Industrial Robotics Market size is projected to grow from USD 44.6 billion in 2020 to USD 73.0 billion by 2025; it is expected to grow at a CAGR of 10.4% during the forecast period. The projection for 2025 is estimated to be down by ~3% as compared to pre-COVID-19 estimation. Manufacturers are turning to automation in response to an increasing shortage of skilled workers in the manufacturing sector. Post-COVID-19 pandemic subsides, it is also expected that there will be a growing demand for various industrial robots across all industry segments, ranging from established industries such as automotive, as well as small and medium enterprises (SMEs). Automation in the electronics and food industry presents an excellent growth opportunity for industrial robots in the coming years, where manufacturers are expected to automate their production processes further to reduce the impact of such pandemic in the future on their production.

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Articulated robots to dominate the industrial robotics market compared to other types of robots in 2020."

Traditional industrial robots have been in use in a broader set of industries compared to other industrial robots. The automotive sector accounts for the major share for the use of articulated robots as their production process is heavily automated. Although most industries are affected due to the COVID-19 pandemic, articulated robots are still expected to maintain the largest share of the market during the forecast period owing to their high payload capacity and rigidity as compared to other types of robots.

"Automotive industry to hold the largest share of the market in 2020."

Although production plants in key regions in APAC and Europe are being temporarily shut down (owing to COVID-19 lockdowns) and consumer demand for vehicles is decreasing rapidly, the automotive industry is still expected to hold the largest share of the market by 2020 compared to other sectors. Some automotive manufacturers are beginning to reopen their factories in China and Japan, where the risk of infection has somewhat subsided. However, consumer demand may not match the production even if the plants reopen. Hence, automotive companies are expected to hold back investments for 1-2 years in a pessimistic scenario. Other industries will also be similarly affected, and they are not likely to overtake the market for industrial robots deployed in the automotive industry.

Browse in-depth TOC on "COVID-19 Impact on Industrial Robotics Market"

16 – Tables
38 – Figures
111 – Pages

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"APAC to hold the largest share of traditional industrial robotics market throughout the forecast period."

APAC is expected to hold the largest share of the traditional industrial robotics industry in 2020 and is also projected to have the highest market share in 2025. 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. The automotive and electrical & electronics industries are the most important drivers for traditional industrial robots in APAC. Components like computer chips, batteries, and displays that are small and sensitive need to be handled with high speed and high precision. In many developing countries in APAC, automation has not yet reached maturity, which represents an opportunity for growth of industrial robots after the lockdowns in various APAC countries are lifted.

Major vendors in the industrial robotics market include ABB (Switzerland), Yaskawa (Japan), FANUC (Japan), KUKA (Germany), Mitsubishi Electric (Japan), Kawasaki Heavy Industries (Japan), DENSO (Japan), NACHI-FUJIKOSHI (Japan), EPSON (Japan), and Dürr (Germany). Apart from these, Franka Emika (Germany) and Techman Robots (Taiwan) are a few of the emerging companies in the industrial robotics industry.

Related Reports:

Collaborative Robot (Cobot) Market by Payload, Component (End Effectors, Controllers), Application (Handling, Assembling & Disassembling, Dispensing, Processing), Industry (Electronics, Furniture & Equipment), and Geography – Global Forecast to 2026

Robot End-Effector Market by Type (Welding Guns, Grippers, Suction Cups, Tool Changers), Applications (Handling, Assembly, Welding), Industry (Automotive, Electrical & Electronics, Food & Beverages, E-Commerce), and Geography - Global Forecast to 2024

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com
Research Insight : https://www.marketsandmarkets.com/ResearchInsight/impact-on-industrial-robotics-market.asp
Content Source : https://www.marketsandmarkets.com/PressReleases/impact-on-industrial-robotics.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg  

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