Global $17.9 Bn Robotic Arm Market Competition, Forecast & Opportunities, 2024 by Payload Capacity, ype, End User Industry, Application, & Region

Dublin, May 20, 2019 (GLOBE NEWSWIRE) — The “Global Robotic Arm Market By Payload Capacity, By Type, By End User Industry, By Application, By Region, Competition, Forecast & Opportunities, 2024” report has been added to ResearchAndMarkets.com’s offering.

The global robotic arm market is forecast to exhibit a CAGR of over 13.8% during the forecast period, growing from $17.9 billion in 2018 to 39.2 billion by 2024, on account of rising demand for automation, owing to increasing labor charges.

With addition of insurance, compensation, paid leave, training expenses, and other benefit packages, wages for human workers are rising, which is boosting the robotic arm market across the globe. Robotic arms can perform repetitive and heavy tasks with efficiency. Increasing focus on improving the productivity of large production volume, in addition to advancements in artificial intelligence and development of sophisticated sensors are augmenting the development of self-programmable robots. However, high capital costs associated with robots prevent small enterprises from purchasing them.

Global Robotic Arm Market Segments

Payload capacity of a robotic arm determines the amount of weight a robotic arm can lift or carry. Based on the payload capacity, robotic arm market has been segmented into less than 500 Kg, 500-3000 Kg and 3001 Kg & above. Robotic arms with heavy payload capacity are generally used for material handling and other applications. A robotic arm includes metal joints and the movement of the joint is controlled by servo motors. High number of servo motors allows greater flexibility and permits a wide variety of applications and greater axes. End-user industries prefer robotic arms of high degree of freedom, so that complex tasks can be performed.

Based on the type, the global robotic arm market has been categorized into, articulated, cartesian, SCARA, cylindrical, and others. Articulated captured the largest market share in 2018 and the segment is expected to register significant growth until 2024, backed by its growing adoption for various industrial applications such as packaging and material handling. The adoption of robots is increasing in various end-user industries such as automotive, electrical/electronics, metal & machinery, plastics & chemicals, etc.

Global Robotic Arm Market Regional Insights

Asia-Pacific dominated the global robotic arm market in 2018 and the region is likely to continue dominating the market in coming years, backed by increasing research & development activities and overall low production cost in the region. Growing trend of automation in countries, such as China, India and Korea coupled with government support towards the adoption of robotic arms through loans, tax incentives and R&D subsidies would aid the region’s dominating market position.

Global Robotic Arm Market Competitive Landscape

Key market players studied during the research include ABB Ltd., KUKA Robotics Corporation, Fanuc Corporation, Yaskawa Electric Corporation, Mitsubishi Electric, etc.

These companies are adopting various strategies including expansion, joint ventures, collaborations, partnerships, and mergers & acquisitions to gain a strong position in the industry.

Report Scope:

Market, by Payload Capacity:

• Less than 500 Kg
• 500-3000 Kg
• 3001 Kg & Above

Market, by Type:

• Articulated
• Cartesian
• SCARA
• Cylindrical
• Others

Market, by End-User Industry:

• Automotive
• Electrical/Electronics
• Metal & Machinery
• Plastics & Chemicals
• Others

Market, by Application:

• Materials Handling
• Cutting & Processing
• Soldering & Welding
• Assembling & Disassembling
• Others

Years considered for this report:

• Historical Years: 2014-2017
• Base Year: 2018
• Estimated Year: 2019
• Forecast Period: 2020-2024

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Executive Summary

4. Voice of Customer
4.1. Brand Awareness
4.2. Brand Recall
4.3. Technological Propensity

5. Global Robotic Arm Market Overview

6. Global Robotic Arm Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Payload Capacity (Less than 500 Kg, 500-3000 Kg, and 3001 Kg & above)
6.2.2. By Type (Articulated, Cartesian, SCARA, Cylindrical and Others)
6.2.3. By End User Industry (Automotive, Electrical/Electronics, Metal & Machinery, Plastics & Chemicals and Others)
6.2.4. By Application (Materials Handling, Cutting & Processing, Soldering & Welding, Assembling & Disassembling and Others)
6.2.5. By Company
6.2.6. By Region
6.3. Market Attractiveness Index

7. Asia-Pacific Robotic Arm Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Payload Capacity
7.2.2. By Type
7.2.3. By End User Industry
7.2.4. By Country
7.3. Market Attractiveness Index
7.4. Asia-Pacific: Country Analysis
7.4.1. China Robotic Arm Market Outlook
7.4.2. Japan Robotic Arm Market Outlook
7.4.3. South Korea Robotic Arm Market Outlook
7.4.4. Taiwan Robotic Arm Market Outlook
7.4.5. Thailand Robotic Arm Market Outlook
7.4.6. India Robotic Arm Market Outlook

8. Europe Robotic Arm Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Payload Capacity
8.2.2. By Type
8.2.3. By End User Industry
8.2.4. By Country
8.3. Market Attractiveness Index
8.4. Europe: Country Analysis
8.4.1. Germany Robotic Arm Market Outlook
8.4.2. Italy Robotic Arm Market Outlook
8.4.3. France Robotic Arm Market Outlook
8.4.4. Spain Robotic Arm Market Outlook
8.4.5. United Kingdom Robotic Arm Market Outlook

9. North America Robotic Arm Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Payload Capacity
9.2.2. By Type
9.2.3. By End User Industry
9.2.4. By Country
9.3. Market Attractiveness Index
9.4. North America: Country Analysis
9.4.2. Canada Robotic Arm Market Outlook
9.4.3. Mexico Robotic Arm Market Outlook

10. Rest of the World Robotic Arm Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Payload Capacity
10.2.2. By Type
10.2.3. By End User Industry
10.2.4. By Country
10.3. Market Attractiveness Index
10.4. South America: Country Analysis
10.4.1. Brazil Robotic Arm Market Outlook
10.4.2. Argentina Robotic Arm Market Outlook
10.4.3. South Africa Robotic Arm Market Outlook

11. Market Dynamics
11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

13. Competitive Landscape
13.1. Competition Outlook
13.2. Company Profiles (Partial List of Leading Companies)
13.2.1. ABB Ltd
13.2.2. KUKA Robotics Corporation
13.2.3. Fanuc Corporation
13.2.4. Yaskawa Electric Corporation
13.2.5. Kawasaki Heavy Industries, Ltd.
13.2.6. Nachi-Fujikoshi Corporation
13.2.7. Denso Corporation
13.2.8. Seiko Epson Corporation
13.2.9. Universal Robots A/S
13.2.10. Omron Adept technologies

14. Strategic Recommendations

For more information about this report visit https://www.researchandmarkets.com/r/ysarqb

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Related Topics: Robotics