Industrial robotics market in heavy industries to grow at 6.2% CAGR during 2016-2020
According to report on the global industrial robotics market in heavy industry, analysts forecast global industrial robotics market in the heavy industry to grow at a CAGR of 6.19% during the period 2016-2020.
Industrial robots help manufacturing companies reduce operational costs and many manufacturing companies, especially in the US, outsourced their production and components to countries with low manual labor costs. However, rising labor costs have pushed these companies to change their strategy.
The report indicates many industries worldwide are embracing automation in pursuit of smart factories and business organization. The use of automation reduces human error, and improves process efficiencies. Automation involves the installation of advanced sensors and technologies, such as wireless and cloud communications, to control and monitor the entire facility 24/7. Automation in production processes, such as procurement, inventory, material processing and machining, and transportation, simplifies business operations.
The need to comply with governmental scrutiny and to reduce operational costs has promoted the use of industrial robots in heavy industries market. For instance, the average labor costs in China have been rising by nearly 10% yearly since 2001. The report indicates use of robots has helped save 50% of production cost and has reduced workers idle time by 80%, leading to substantial cost savings. The use of industrial robots for tasks such as welding and sheet handling in heavy industries has also proved the efficiency of the robotic systems in terms reduction in cycle time and raw material wastage.
With the growth in the implementation of robotic solutions in the heavy industries sector, end-users can attain the operational flexibility required for addressing different product requirements. Robots are ideal for multitasking and can handle repetitive tasks efficiently. They are swift and can be deployed in accident-prone areas in production lines.
During 2015, the material handling robots segment accounted for nearly 47% of the global industrial robotics market in heavy industries owing to high demand for the handling of heavy components under harsh working environment. Material handling robots can handle heavy payloads and are highly useful in certain production lines, which involve huge machine parts that cannot be lifted manually.
The metalworking machinery segment accounted for 26% of the global industrial robotics market in heavy industries during 2015. The segment involves machine tools, which consist of conventional machine tools and the CNC machine manufacturing. The market is seeing robot-machine tool collaboration for the smooth and efficient functioning of machine tools, which has created huge opportunities for industrial robot vendors.
The key vendors analyzed in industrial robots in heavy industries market report are ABB, Fanuc, Kuka, and Yaskawa. Other Prominent Vendors in industrial robotics market in the heavy industry are: Adept Technology, Apex Automation and Robotics, Denso Robotics, Epson Robotics, Kawasaki Robotics, Mitsubishi Electric, Nachi Robotic Systems, Rethink Robotics, TM Robotics and Universal Robots.
Further, the industrial robotics market in the heavy industry report states that robotics vendors typically take long lead-times to fulfill small-sized orders, and this deters companies from investing in robotics. Small-sized orders arise from customers that have limited cash flows, and this is a challenge for the market.
Another related report is Global Industrial Robotics Market in Electronic and Electrical Industry 2015-2019: Analysts forecast global industrial robotics market in electronic and electrical industry to grow at a CAGR of 5.43% over the period 2014-2019. Key players in the global industrial robotics market in electrical and electronics industry: ABB Ltd., Adept Pvt. Ltd., KUKA AG, Shanghai-Fanuc Corp. and Yaskawa Electric Corp. Other prominent vendors in the market are: Apex Automation and Robotics, Aurotek, Axium, Baumann, Daihen, Finsar and Kawasaki Robotics. Browse the complete report here.
The complete report on industrial robotics market in the heavy industry spread across 46 pages, analyzing 4 major companies and providing 18 data exhibits is now available online. Order a copy of Global Industrial Robotics Market in Heavy Industries 2016-2020 report here.