The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Articulated Industrial Robot Market. The growth sectors of the Articulated Industrial Robot Market are identified with precision for a better growth perspective.
The recent trend of Industry 4.0 has called for an increase in the level of automation which can be considered as a boosting factor for the growth of articulated robot market. Automotive industry has been the primary market for articulated robots and continues to drive its growth in the coming years. Increase in demand for higher efficiency in production across various industries is driving the growth of the market. However high configuration and reprogramming cost for low volume production is expected to restrain the growth of global articulated market.
April 2017, Toshiba machine in partnership with TM Robotics announced the launch of Toshiba Machine’s newest TVM 6-axis line of articulated robots. The new line of robots is ideal for companies with material handling and machine tending needs. The cost-effective robots are aimed at a vast range of industries including automotive components, plastics, medical, packaging, and pharmaceutical.
The key players in the global articulated robot market are ABB (Switzerland), Fanuc Corporation(Japan), Yaskawa Electric Corporation(Japan), Kawasaki Heavy Industries, Ltd.(Japan), Mitsubishi Electric Corporation(Japan), Seiko Epson Corporation(Japan), Toshiba Machine Co., Ltd(Japan), OMRON Corporation(Japan), KUKA Aktiengesellschaft(Germany), Yamaha Motor Co., Ltd(Japan), Aurotek Corporation (Taiwan), Cassioli Srl (Italy), Daihen Corporation (Japan), Denso (Japan), Engel (Austria), Nachi-Fujikoshi (Japan), Stubli International (Switzerland), SIASUN (China), HIWIN (Taiwan), GSK (UK), and Triowin (China).
The global market for articulated robot is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis for global articulated robot market is done for North America, Europe, Asia-Pacific, and the rest of the world.
Asia-pacific is expected to be both the largest and fastest growing segment in the global articulated robot market during the forecast period. Growing industrialisation in countries like India and China and increasing adoption of articulated robots in small and medium sized enterprises in this region is driving the growth of the market. Increasing demand for automation from industry verticals like automotive, electronic component manufacturing and food and beverages is driving the growth of the articulated robot market in the region.
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