Overview:
Industrial robotic arms are gaining widespread popularity to increase the operational efficiency and reduce cost through automation. Growing demands for enhanced safety for workers, accelerated production, and improved productivity is increasing the demand for robotic arm market. Industrial robotic arms are one of the most common types of robots used in manufacturing, automotive and agriculture industry verticals. Articulated robotic arms, are reliable, and accurate and can be programmed to do an infinite number of tasks in a variety of environments. Robotic arms are used in factories to automate execution of repetitive tasks, such as picking, packing, sorting and placing goods. Industrial revolution, growth of industry 4.0, have paved way for new technological adoption and the capabilities of robotic arms are anticipated to gain a rapid incorporation in industrial settings. Such factors are anticipated to propel the growth of the robotic arm market across the globe.
Drivers:
Advantages such as worker safety, improved efficiency and productivity, as well as enhanced precision is a major driving factor for the growth of the robotic arm market. Robotic arms are capable to operate 24/7 without fatiguing, which allows businesses to keep production, inspections, or other tasks going to increase output. Robotic arms are accurate and offer enhanced precision, along with greater flexibility. Further, robotic arms can easily be repurposed according to business needs which is driving the market growth.
Segmentation:
On the basis of type, the robotic arm market is segmented into conventional, collaborative, and others. On the basis of axis type, the robotic arm market is segmented into Single axis robot arm, Multi axis robotic arm (2-axis, 3-axis, 4-axis, 5-axis, 6-axis and others. On the basis of payload capacity, the global Robotic arm market is segmented into Less than 500 kgs, 500 kgs to 3000 kgs, more than 3000 kgs, and others. On the basis of Product, the global Robotic arm market is segmented into Articulated Robot Art, Cartesian Robot Arm, Cylindrical Robot Arm, Delta Robot Arm, Polar or Spherical Robot Arm, SCARA Robot Arm, and Others.
Geography:
On the basis of region, the global Robotic arm is segmented into North America, Middle East & Africa, Europe, Asia Pacific, and South America. Asia Pacific is projected to capture a substantial revenue share in the global Robotic arm market over 2022-2030. The growth is attributable to the existence of multiple manufacturers and rise of the industrial revolution in India and China.
Impact of COVID-19 on the global robotic arm Market:
The Covid-19 pandemic significantly impacted the production and sales of equipment across the globe. The crisis negatively impacted various businesses and disrupted the global supply chain. However, as the economies started to recover from the adverse impacts, new robotic machinery deployments witnessed a rapid acceleration. In the post COVID-19 scenario automation and efficiency are rapidly improving for business that are actively embracing the robotic arm solutions. The pandemic has encouraged global businesses to rely on artificial intelligence, Augmented Reality, and virtual reality to increase productivity. Growing demands for enhanced industrial operations are some of the major factors that is bolstering the growth of the robotic arm market in the post pandemic era.
Impact of the Russia-Ukraine War on the global robotic arm Market:
The global supply chains are disrupted by the Russia-Ukraine conflict in the same way as the it did when the COVID-19 pandemic first surfaced. There has been a significant rise in the transportation costs, gas prices, and electricity rates as a result of the Russia Ukraine war. Due to the increased energy costs, companies are forced to raise prices. The supply of commodities is substantially disrupted in regions such as US, Europe, and China. The conflict has accelerated the chip shortage and raw materials for semiconductor manufacturing. Russia and Ukraine produce more than 50% of the aforementioned raw materials. Due to the war the industries that are completely dependent on Russia and Ukraine for raw material are incurring huge losses and are unable to find an alternative supplier soon. The continuation of the conflict is likely to further delay hardware production and sales which is anticipated to slow down the accelerated deployment of the new technological infrastructures. This is estimated to negatively impact the global robotic arm market growth.
Company Profiles:
The key market players in the global robotic arm market are ABB, Yaskawa, Omron Adept Technologies, UC Berkley, Stäubli, DENSO Robotics, EVS Tech Co. LTD., FANUC Robotics, Kuka AG, Universal Robots (Teradyne), Dobot, Epson, Flexiv, Gridbots, Apex Automation and Robotics, Arduino, Carbon Robotics, Dürr, Kawasaki Robotics, Kinova Inc, Lynxmotion, MakerArm, MEBO robot, Mecademic, Mitsubishi Electric, Niryo, Robotnik, Schunk GmbH, TM Robotics, VEX, Yamaha Robotics, and Others .