The Global Industrial Robotics market is anticipated to grow at a CAGR of 9.52% for the forecast period of 2018-2026. The key drivers responsible for this growth include the growing demand for industrial robots from numerous end user sectors, lack of skilled labour, growing government support, and the expensive labour and energy costs.
The global industrial robotics market segmentation is done on the basis of the industrial robot type and its end user sectors. The robot type can be further classified into cartesian robots, articulated robots, cylindrical robots, SCARA robots, and other types (Delta & Polar Robots). The end-user sector for the market includes electronic & electric sector, automotive sector, plastic & rubber sector, machinery products & metal sector, and the food & beverage sector.
The global industrial robotics market encompasses four major regions that include North America, Europe, Asia-Pacific and the rest of the world. The Asia-Pacific region is presently dominating the global market and is expected to continue its successful run throughout the forecast period. Countries such as China, South Korea, and Japan are the leading contributors to this region and account for almost xx% of the market share. The increasing outsource manufacturing of the global players in the low-cost Asia-Pacific countries is one of the most significant drivers for this region.
Partnership, merger & acquisition, agreements, contracts, and new product launch are some of the key strategies adopted by the global players to have the upper hand over each other. The well-known global players in the market include ABB Ltd, Adept Technology Inc, Apex Automation & Robotics, Aurotek Corporation, Epson Robots, FANUC Corporation, Kawasaki Robotics Inc, Kuka AG, Mitsubishi Electric Corporation, Nachi Fujikoshi Corporation, Rockwell Automation, Schunk GMBH, Staubli International AG, Yamaha Robotics and Yaskawa Electric Corporation.