The Global Material Handling Robotics Market is expected to grow at a CAGR of approximately 10% during the forecast period 2017-2023. The major factors driving the growth of the material handling robotics market is increasing demand for robotics in manufacturing unit to overcome human error and accidents and the ability of robots to improve the effectiveness of the manufacturing plant and boost customer satisfaction by delivering quality products, which is fuelling the market growth.
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Key players:
Some of the most prominent players in the global material handling robotics market are Denso Wave (Japan), Epson Robotics (Japan), DAIHEN Corporation (Japan), Fanuc (U.S.), KUKA (Germany), Kawasaki Robotics (U.S.), Nachi Robotic Systems (U.S.), ABB (Sweden), Adept Technology (U.S.), Apex Automation and Robotics (Australia) and many others.
Market highlights:
The report gives the clear picture of current material handling robotics market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Material handling is the essence of industrial robotics, where robots are increasingly called to handle material that range from blood samples to vehicles during the manufacturing process. Material handling (MH) makes use of the robot’s capability to transport objects. The robot can accurately and efficiently move a product from one location to another, after the robot has been fitted with an appropriate end of arm tool. This eliminates the requirement of hazardous, tedious, or fatiguing labor in an industry. The global material handling robotics market is envisaged to witness a steady upsurge during the forecast period.
There are various factors that are likely to contribute to this growth, namely increasing demand for material robots in numerous applications such as palletizing/de-palletizing, packaging, pick and place and others. These factors aide the growth of the market, as well as the significant cost reduction of these robots and ease of work management help boosting the expansion of this market. Manual lifting is a leading cause of workplace injuries, costing employers millions each year. Material handling robots create a convenient environment for workers, thus protecting employers against compensation claims.
The global material handling robotics market is segmented into North America, Asia Pacific, Europe, and the rest of the World. The market in the Asia Pacific is projected to witness a remarkable growth, having an edge over other regions by holding the largest market share during the forecast period. Countries like India, China, and South Korea are foreseen to propel the growth of the material handling robotics market.
Segments:
The global material handling robotics market is segmented by product, application, and end-user. By the product segment, the market is segmented into articulated material handling robots, scara material handling robot, parallel material handling robot, and others.
On basis of the application, the market is segmented into pick & place, palletizing/de-palletizing, packing & packaging, product/part transfer, machine tending and others.
On basis of the end-user, the market is broadly segmented into automotive, electrical and electronics, metal & machinery, chemical, food & beverage, and others.
Market Research Analysis:
North America is estimated to account for the second position in the material handling robotics market, whereas, the Asia Pacific market is projected to acquire the highest share during the forecast period. The North American market is witnessing a rapid growth due to technological advancements and increasing demand for industrial robots from different industrial verticals in this region. The U.S. holds the majority of the market share both in terms of revenue and adoption of advanced solutions.
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Regional Analysis:
The global material handling robotics market is studied for Asia Pacific, North America, Europe, and Rest of the World. It has been observed that APAC region accounts for the largest share in the global material handling robots market both in terms of sales volume and annual revenue. Owing to factors such as strongest growth potential and presence of major manufacturing hub. Emerging economies from developing nation such as China and Southeast Asian countries are expected to be the main driving factors of the market growth. Other factors such as low labor costs coupled with the reduced costs associated with transportation also contributed to the regional growth of the market. Increasing demand for cutting-edge technologies such as big data analytics and internet of things (IoT) in logistics to manage the operational requirements is fuelling the material handling market growth.
LIST OF TABLES
Table 1 Global Material Handling Robotics Market: By Region, 2017-2023
Table 2 North America Material Handling Robotics Market: By Country, 2017-2023
Table 3 Europe Material Handling Robotics Market: By Country, 2017-2023
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LIST OF FIGURES
FIGURE 1 Global Material Handling Robotics Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis Of Global Material Handling Robotics Market
FIGURE 4 Value Chain Of Global Material Handling Robotics Market
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