The global industrial robot components market is expected to be worth US$ 6.3 billion in 2023, with a CAGR of 13.9% to reach US$ 23.2 billion by the end of 2033.
The industrial robot components market plays a pivotal role in the world of automation and manufacturing. This article provides an overview of the industrial robot components market, offering insights into its dynamics, demand and supply trends, and the intricate value chain that drives this essential industry.
Get Free Sample Copy of This Report-https://www.factmr.com/connectus/sample?flag=S&rep_id=8227
Industrial Robot Components Market Dynamics
The dynamics of the industrial robot components market are shaped by a multitude of factors that influence its growth and evolution. One of the primary drivers for this market is the relentless march of automation across industries. Automation, powered by industrial robots, is transforming manufacturing processes, making them more efficient, cost-effective, and precise. This shift towards automation drives the demand for high-quality industrial robot components.
Moreover, the growing need for flexibility in manufacturing processes is propelling the market forward. Businesses are seeking ways to adapt quickly to changing market demands and production requirements. Industrial robots, equipped with advanced components, enable manufacturers to reconfigure their production lines swiftly and efficiently.
Sustainability and environmental concerns also play a significant role in shaping the dynamics of this market. Manufacturers are increasingly looking for ways to reduce waste, energy consumption, and emissions. Advanced industrial robot components contribute to eco-friendly manufacturing by optimizing processes, minimizing material wastage, and improving energy efficiency.
Industrial Robot Components Market Demand & Supply Trends
In recent years, the industrial robot components market has witnessed notable trends in both demand and supply. On the demand side, there is a rising need for specialized industrial robot components. As manufacturing processes become more intricate and tailored to specific products, the demand for components that can handle these complexities increases. This includes precision gears, high-performance motors, advanced sensors, and sophisticated control systems.
Supply trends in the industrial robot components market are closely tied to technological advancements. Manufacturers are continually innovating to offer components that are more durable, efficient, and cost-effective. Miniaturization and weight reduction are also key trends, enabling the development of compact and agile industrial robots that can fit into tight spaces and perform delicate tasks.
Key Companies Profiled In This Report
- FANUC
- Denso Corporation
- Kuka
- Mitsubishi Electric
- ABB
The industrial robot component market in the United States is poised for substantial growth, with a projected CAGR of 13.3% over the forecasted period. The surge in industrial robot installations across the Americas, particularly in the United States, is driving a remarkable uptick in demand for industrial robots.
In a significant development, the Americas witnessed a surge in the installation of industrial robots, surpassing fifty-five thousand units in 2021, marking a remarkable 31% increase compared to the previous year. This growth represents a notable rebound from the pandemic-induced dip in 2020. Notably, this is the second instance in the Americas when robot installations have exceeded the 50,000-unit threshold, with 55,212 units recorded in 2018.
Furthermore, in the United States specifically, new industrial robot installations saw a 14% increase, reaching 34,987 units in 2021. This figure surpassed the pre-pandemic levels of 2019, which stood at 33,378 units. The automotive industry remains a significant contributor to this surge, with 9,782 units installed in 2021, maintaining its position as the largest adopter of industrial robots.
Additionally, the demand for robots in the metal and machinery sector witnessed an impressive 66% increase, totaling 3,814 units in 2021, securing the second position in the market. Similarly, the plastic and chemical products sector experienced a 30% increase, with 3,466 new robots installed in 2021. The food and beverage sector also contributed to this growth, with a 25% increase, reaching a peak of 3,402 units in 2021.
As the demand for industrial robots continues to flourish, there is a corresponding need for components essential for robot production, thereby driving the sales of industrial robot components in the United States.
competitive landscape
These industry leaders are channeling their efforts towards delivering top-notch, durable components, thereby fostering a network of loyal customers and bolstering their brand recognition. The provision of customization options represents a significant avenue for revenue growth over the long term for these manufacturers.
Furthermore, establishing enduring trade relationships directly with end-users is anticipated to stimulate the demand for industrial robot components in the coming years, enabling market players to achieve substantial profit margins.
In a recent report by Fact.MR, comprehensive information on the pricing strategies of key industrial robot component manufacturers across various regions, sales growth patterns, production capacities, and prospective technological advancements has been elucidated.
Segmentation of Industrial Robot Components Industry Research
- By Component :
- Controller
- Sensor
- Robot Arm/Manipulator
- End Effector
- Drive
- Feedback Devices
- By Application :
- Cartesian Robots
- Scara Robots
- Articulated Robots
- Cylindrical Robots
- Delta Robots
- Polar Robots
- Collaborative Robots
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Get Customization on this Report for Specific Research Solutions –https://www.factmr.com/connectus/sample?flag=RC&rep_id=8227
The industrial robot components market is at the heart of the automation revolution, enabling the seamless operation of advanced industrial robots. Its dynamics are driven by the demand for automation, the need for flexibility in manufacturing, and the imperative of sustainability. As technological advancements continue to shape the industry, industrial robot components will remain pivotal in delivering efficiency, precision, and innovation to manufacturing across a wide range of sectors.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we delivers deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empowers businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232
Email: [email protected]