Articulated robot market is expected to grow from USD 10.92 billion in 2018 to USD 23.51 billion by 2023, at a CAGR of 16.58% during the forecast period; the market is expected to register a shipment of 245,012 units in 2018 and is projected to reach 548,566 units by 2023, at a CAGR of 17.49% during the forecast period.
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The Articulated Robot Market network includes robot manufacturers such as ABB (Switzerland), KUKA (Germany), Mitsubishi Electric (Japan), Fanuc (Japan), Kawasaki Heavy Industries (Japan), Denso (Japan), Omron Adept Technologies (US), Nachi-Fujikoshi (Japan), Yaskawa (Japan), and Seiko Epson (Japan).
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Robots with payload carrying capacity of up to 16.00 kg are expected to hold the largest share of the articulated robot market in 2018 owing to increased payload capacity, work envelope, reliability, and speed, articulated robots are used in several applications, including welding, painting, assembly, packaging, palletizing, depalletizing, machine tending, sealing, gluing, cutting, cleaning, deburring, die casting, grinding, polishing, material handling, case packing, pick and place, pre-machining, and press brake tending.
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Articulated robots refer to industrial robots that are automatically controlled, reprogrammable, and multipurpose manipulator (robotic arm) and can be adopted for industrial automation applications. Despite the high rate of adoption of articulated robots in SMEs, there still exist restraints for the adoption of articulated robots for low-volume production.
As articulated robotic systems are designed as per the requirements of the application, it is an inevitable process of modifying or reconfiguring industrial robots every time the application is changed. The cost of reconfiguration and reinstallation of the robotic system is high for lower volume production.
Hence, high overall installation cost for low-volume production applications is a factor restraining the growth of the articulated robot market.
List of Tables
Table 1 Articulated Robot Market, By Payload, 2015–2023 (USD Million)
Table 2 Articulated Robot Market, By Payload, 2015–2023 (Units)
Table 3 Articulated Robot Market for Payload Up to 16.00 Kg, By Industry, 2015–2023 (USD Million)
Table 4 Articulated Robot Market for Payload Up to 16.00 Kg, By Industry, 2015–2023 (Units)
Table 5 Articulated Robot Market for Payload of 16.01–60.00 Kg, By Industry, 2015–2023 (USD Million)
Table 6 Articulated Robot Market for Payload of 16.01 Kg–60.00 Kg, By Industry, 2015–2023 (Units)
Table 7 Articulated Robot Market for Payload of 60.01 Kg–225.00 Kg, By Industry, 2015–2023 (USD Million)
Table 8 Articulated Robot Market for Payload of 60.01 Kg–225.00 Kg, By Industry, 2015–2023 (Units)
Table 9 Articulated Robot Market for Payload More Than 225.00 Kg, By Industry, 2015–2023 (USD Million)
Table 10 Articulated Robot Market for Payload More Than 225.00 Kg, By Industry, 2015–2023 (Units) and more..
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