(MENAFN- Ameliorate Digital Consultancy)
By rising at an amazing CAGR of 11.6% over the assessment period of 2023–2033, the worldwide assembly robot market is predicted to reach a value of over US$ 14,832.0 Million by the end of 2023.
A manual line is made up of several processes and workstations, each of which completes tasks in a preset sequence and produces a highly finished product. Assembly line improvements made possible by robotics give producers an advantage in terms of efficiency, uniformity, and quality assurance. An assembly robot is a robotic arm that follows preprogrammed instructions to carry out tasks in a production environment.
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Key Statistics Supporting the Surge
Global assembly robots market is poised to expand throughout the forecast period and reach the valuation of US$ 44,446.9 Million by the end of 2033. The global assembly robots market witnessed a healthy CAGR of 8.2% during 2018 to 2022. By end use industry segment, logistics sub-segment is likely to account for 16.7% of revenue share by obtaining a valuation of US$ 2,476.9 Million in 2023. Global assembly robots market is poised to garner an absolute dollar opportunity of US$ 31,338.2 Million during forecast period North America region is expected to register a CAGR of 9.7% over the forecast period, as it will be valued at US$ 2,560.0 Million by 2023 end. Under axes segment, 5 Axis sub-segment is estimated to account for approximately a 16.2% revenue share in 2023.
Major Stakeholders
ABB DOBOT.nu FANUC America Corporation FISNAR Kawasaki Robotics (USA), Inc. KUKA AG Omron Corporation Phoenix Control Systems Ltd. Steven Douglas Corp. TIESSE ROBOT SpA Universal Robots Yaskawa America, Inc
Market Development
Manufacturers of assembly robot are developing fully electric autonomous product for closed industrial environments. Major players are focusing on solutions and new product designs that will be more sustainable, cost-efficient, and easier to maintain.
Companies should focus on launching new robot specially designed for the assembly line with advanced technologies. With increasing number of collaborations and partnerships with municipal managements, assembly robot market will witness a substantial growth in the near future.
Competitive Landscape
Assembly robots can also perform different tasks such as part identification based on their shape, size, and color. Further, it can also sort the parts as per the programmed task. This process can be made easier and effective by the introduction of highly sensitive and highly advanced sensors.
Industry Research
By Robot Type : Articulated robots Cartesian robots SCARA robots Other robots
By Axes : 4 Axis or less 5 axis 6 axis or more
By Application : Packaging Palletizing Material handling Painting Welding Assembly Inspection Cutting Dispensing
By End Use Vertical : Aerospace and Defense Automotive Chemicals & Materials Electrical & Electronics Food and Beverage Healthcare Mining & Oil & Gas Retail & e-Commerce Logistics & Warehousing Packaging Others
By Region : North America Latin America Europe East Asia South Asia and Oceania Middle East & Africa
The global assembly robot market report answers numerous pertinent questions, some of which are:
What are some of the latent areas of investments in the market? Which region is expected to emerge as showing the most attractive growth rate during the forecast period and which factors will be crucial to its growth? What trends are likely to change the status quo of the positions held by leading players of the market in the not-so-distant future? Which product/service/technology segments holds game-changing potential to dramatically shape the competitive dynamic in the market? What are the strategies adopted by top players to retain their stronghold in the market? Which strategic moves will new entrants adopt to gain a strong foothold in the market? What are COVID-19 implications on the market and learn how businesses can respond, manage, and mitigate the risks?
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