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Global Industrial Robotic Motors Market

Global Industrial Robotic Motors Market: Global Opportunity Analysis and Industry Forecast

Posted on February 17, 2022 By Tanaji No Comments on Global Industrial Robotic Motors Market: Global Opportunity Analysis and Industry Forecast

The global industrial robotic motors market is expected to reach US$ 1.1 billion in 2022, growing at a CAGR of 13.4% over the forecast period of 2022-2029. The advancement of factory automation, the installation of robots in a wide range of service applications, including healthcare, agriculture, and defence, and the adoption of new robotic solutions are all driving this rise.

East Asia continues to provide significant growth prospects.

In East Asia, the market for industrial robotic motors has a lot of potential. Because robots are being integrated into solutions and services, the market in China has grown significantly. South Korea’s rapid expansion in the robot industry has been a major role in the advancement of industrial robotic motors in several industries. In Japan, the fast decline in the workforce, as well as the limited influx of immigration, present a major impetus for robotics.

Global Industrial Robotic Motors Market

The market is being boosted by these countries’ preference for industrial robotic motors, which has been fueled by considerable technological advancements. Due to rapidly rising automation in numerous industrial businesses active in emerging countries, the South Asia & Pacific area is expected to have the highest growth rate in the future years.

Opportunities, constraints, and drivers

The industrial robotic motors market may be driven by an increase in demand for collaborative robots in practically all production industries, high labour costs, and technical improvements. Collaborative robots allow humans and robots to work together to complete tasks more effectively. However, the high installation costs and safety risks connected with the operation of industrial robots are potential barriers to the market’s growth. Installing a robotic project might be difficult, especially for new businesses. Such activities necessitate the use of highly qualified engineers, resulting in higher installation costs. Industrial robotic motors manufacturers, on the other hand, are likely to benefit from the deployment of industrial robots and automation in the manufacturing industries in the next years.

Market trends in industrial robotic motors

Significant advancements in the robotics sector

Traditional robots are upgraded on a regular basis to improve their efficiency and efficacy. In most manufacturing businesses, technological automation is advancing at a rapid rate. As a result, demand for industrial robotic motors is expected to rise in the future years. Robots that are 3D printed are a relatively new invention in the robotics industry. A 3D printing machine takes the user’s input of material, CAD model, and system commands and produces the desired output layer by layer. This technique has already been embraced by several manufacturing companies, particularly the automobile industry. In the future, such new emerging technologies are projected to have a significant impact on the industrial robotic motors market.

High labour costs and a shortage of trained workers

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Industrial robots have been adopted in many industries in both emerging and developed countries due to a shortage of skilled manpower and high labour expenses. Many businesses have turned to industrial robots as a way to save labour costs. Although the initial cost of installation is considerable, the return on investment is excellent since it provides high productivity with high efficiency, resulting in larger profit margins for businesses. Furthermore, labour wages have been rising rapidly in recent years in countries such as the United States and Europe. Given the costs involved with workers, implementing robots appears to be a better option, paving the way for the need for industrial robotic motors to rise in the coming years.

COVID-19 Impact Analysis of the Industrial Robotics Market, Forecast to 2026

The COVID-19 pandemic, a deadly respiratory ailment that began in China, has now spread throughout the world. Because China has been the largest market for industrial robots (40–50 percent share) over the past 5 years, the COVID-19 epidemic has a detrimental influence on the industrial robotics market in 2019. The leading players in the industrial robots market are all based in Japan, and their revenue is expected to plummet in 2019. For example, FANUC (Japan) revealed in March 2020 that its ROBOT division revenue was down 6.9% in 2019 compared to 2018. The COVID-19 epidemic disrupted global supply chains and slowed the deployment of industrial robots in a number of critical industries, including automotive, electrical and electronics, and metals and machinery. However, the situation in Q1 2021 is predicted to improve over 2020 and return to normalcy by the end of 2022.

High deployment costs, especially for SMEs, are a constraint.

A robotic automation project might be difficult, especially for companies who have never done one before. Not only does the robot cost a lot of money to buy, but it also costs a lot of money to integrate, develop, and maintain it. A bespoke integration may be necessary in some circumstances, which will increase the overall expenses. Robot deployment may not always be possible due to a lack of space and infrastructure. Return on investment (ROI) can be difficult for SMEs because they are typically engaged in low-volume production. The existence of businesses with seasonal or irregular production schedules demonstrates the problem even further. Because items are updated once a year on average, fast-changing consumer tastes will necessitate constant reprogramming of robots. Over-automation can be problematic as well. In comparison to its Japanese rivals, the US car sector initially used a higher level of automation. As product lines and consumer demand evolved over time, cost overruns occurred, and many robots became unneeded or obsolete. Human workers may or may not be replaced, which may or may not reduce an organization’s operational costs. A single collaborative robot system can range in price from 3,000 to 100,000 dollars. An industrial robotic system might cost anywhere between USD 15,000 to USD 150,000. Automation is a costly investment for SMEs, especially when they are engaged in low-volume production, due to the cost of industrial robots, as well as integration costs and the cost of peripherals such as end effectors and vision systems.

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Increased automation in the electronics sector is an opportunity.

Electronics businesses will be able to develop more as automation improves, as they will be able to manufacture prototypes in less time and with less capital. Robots can be utilised in a variety of tasks throughout the manufacturing process, including assembling, dispensing, milling, inspection, packaging, and palletizing. The desire for robotics is also aided by advancements in end effectors and vision systems. Random bin selection, for example, allows robots to select unsorted components from bins and install them in the desired orientation. Factory workers in the electronics industry are still mostly doing repetitive and redundant operations like hand assembly and tooling. Robotics will shift the expectations placed on workers since they will be able to focus on high-criticality jobs like final inspection and quality control. Because collaborative robots can operate alongside people, they can be integrated into existing production lines. Because these robots are easy to programme, they can be reprogrammed to perform new tasks after their first use. Because electronics product cycles are generally only a few months long, robots enable flexibility and reusability. Some businesses have developed specialist robots. For example, the KUKA (Germany) KR 3 AGLIUS is designed for high cycle times in applications such as micro screw fitting, smartphone casing polishing, and display and circuit board handling.

Interoperability and integration concerns with industrial robots are a challenge.

In any factory or production unit, interoperability is essential. For both hardware and software to connect and coordinate diverse automation systems, a modular architecture is required. The software used for programming, diagnosing, and monitoring is the emphasis of this article. It’s not ordinary for industries to mix and match robot arms from various manufacturers. Companies may also need to reprogram robots to accommodate various parts, such as vision systems and end effectors, due to changes in production and demand. The integrator, not the manufacturer or the end user, is responsible for deciding on the robot’s implementation, setup, and programming. Due to their unique requirements and a lack of staff to set up a complicated automation setup, interoperability difficulties pose a significant obstacle, particularly for SMEs.

Technology Tags:Global Industrial Robotic Motors Market, Industrial Robotic Motors

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