The global exoskeleton market exhibited robust growth during 2015-2020. An exoskeleton system is a wearable man-machine mechanism that utilizes human intelligence and machine power to provide mechanical strength to the user. It consists of a powered wearable suit that is designed to improve user safety and enhance the overall efficiency to perform specific tasks. It uses smart algorithms that adjust and adapt according to the human body motions and is equipped with various sensors and electrical connections to control the components. Exo-suits assist in lifting heavy materials and reduce stress on the user’s back muscles and spine. Also, they enable the elderly to walk with ease and prevent fall-related injuries. Currently, these systems find extensive applicability across various sectors including healthcare, military and industrial. Looking forward, IMARC Group expects the global exoskeleton system market to grow at a CAGR of 43.3% during the forecast period (2021-2026).
Global Exoskeleton System Market Trends and Drivers:
The growing need for exoskeletons in the rehabilitation centers along with the increasing industrial activities across the globe are the key factors driving the exoskeleton market growth. The development of motor-equipped robots to assist human body mechanics is another factor contributing to the market growth. The growing prevalence of heart strokes, spinal cord injuries and paralysis among patients has also driven the demand for exoskeletons in the healthcare sector.
The rising adoption rates of exoskeletons across military and industrial sectors are providing a boost to the exoskeleton market growth. In these sectors, the systems are custom-fitted according to body parts and are made using fiberglass, carbon fiber and aluminum depending on the strength required. Moreover, they efficiently provide support to multiple joints and detect human movements to initiate the appropriate responses of the exoskeleton actuators, thus boosting the product demand further in the military and industrial sectors.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global exoskeleton market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on component, type, mobility, body part, end use sector and region.
Market Breakup by Component:
Market Breakup by Type:
Market Breakup by Mobility:
Market Breakup by Body Part:
Market Breakup by End Use Sector:
Market Breakup by Region:
Middle East and Africa
Historical, Current and Future Market Trends
The global exoskeleton system market is highly fragmented with the presence of several small and large players competing in terms of price and quality. Some of the major players in the market are:
Gogoa Mobility Solutions
Daiya Industry Company
Mitsubishi Heavy Industries
Key questions answered in this report:
How has the global exoskeleton system market performed so far and how will it perform in the coming years?
What are the key regional markets in the global exoskeleton system industry?
What has been the impact of COVID-19 on the global exoskeleton system industry?
What is the breakup of the market based on the component?
What is the breakup of the market based on the type?
What is the breakup of the market based on the mobility?
What is the breakup of the market based on the body part?
What is the breakup of the market based on the end use sector?
What are the various stages in the value chain of the global exoskeleton system industry?
What are the key driving factors and challenges in the global exoskeleton system industry?
What is the structure of the global exoskeleton system industry and who are the key players?
What is the degree of competition in the global exoskeleton system industry?