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LONDON, GREATER LONDON, UNITED KINGDOM, October 8, 2024 /EINPresswire.com/ -- The articulated robot market has experienced robust growth in recent years, expanding from $15.69 billion in 2023 to $18.26 billion in 2024 at a compound annual growth rate (CAGR) of 16.4%. The growth in the historic period can be attributed to manufacturing sector growth, automotive industry adoption, rise of electronics and semiconductors, focus on efficiency, medical and healthcare applications.
What Is The Estimated Market Size Of The Global Articulated Robot Market And Its Annual Growth Rate?
The articulated robot market is projected to continue its strong growth, reaching $31.89 billion in 2028 at a compound annual growth rate (CAGR) of 15.0%. The growth in the forecast period can be attributed to regulatory support and safety standards, smart factory growth, automotive industry evolution, energy efficiency and sustainability, smes embracing robotics.
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Growth Driver Of The Articulated Robot Market
The increasing automotive industry is expected to propel the growth of the articulated robots market. The automotive industry refers to the collective set of companies, organizations, and activities involved in the design, development, manufacturing, marketing, and sale of motor vehicles. Articulated robots are extensively used in automotive assembly lines for tasks such as welding, painting, and assembly. The demand for increased automation in manufacturing plants boosts the adoption of articulated robots.
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Who Are the Leading Competitors in the Articulated Robot Market Share?
Key players in the market include ABB Ltd., FANUC Corporation, Kawasaki Heavy Industries Ltd., KUKA AG, Omron Adept Technology Inc., Mitsubishi Electric Corporation, Seiko Epson Corporation, Denso Wave Incorporated, Nachi-Fujikoshi Corp., Yaskawa Electric Corporation, Aurotek Corporation, Stubli International, ST Robotics, Toshiba Machine Co. Ltd., Yamaha Motor Co. Ltd., Cassioli Group, DAIHEN Corporation, Comau, Universal Robots, Epson Robots, Midea Group, B+M Surface Systems GmbH, Wittmann Battenfeld Group, Hanwha Corporation/Momentum, Gudel AG, Hyundai Robotics, Techman Robot, Franka Emika, AUBO Robotics, F&P Robotics AG.
Which Key Trends Are Driving Articulated Robot Market Growth?
Major companies operating in articulated robots are focused on the introduction of new modular robot systems to strengthen their market position. New modular robot systems provide scalability, enabling businesses to scale their robotic capabilities based on changing needs. This scalability, coupled with customization options, allows for tailored solutions that align with specific industrial requirements.
How Is The Global Articulated Robot Market Segmented?
1) By Type: 4-Axis Or Less, 5-Axis, 6-Axis Or More
2) By Payload: Upto 16 Kg, 16 To 60 Kg, 60 To 225 Kg, More Than 225 Kg
3) By Function: Handling, Welding, Dispensing, Assembly, Processing, Other Functions
4) By Component: Controller, Arm, End Effector, Drive, Sensor, Other Components
5) By End Industry: Automotive, Electrical And Electronics, Chemicals, Rubber And Plastics, Metal And Machinery, Food And Beverages, Precision Engineering And Optics, Pharmaceuticals And Cosmetics, Other End-Users
Geographical Insights: Asia-Pacific Leading The Articulated Robot Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Articulated Robot Market Definition
The articulated robot refers to a robot that has rotational joints and up to 10 or more axes. The rotary joints enable a full range of motion and significantly expand the robot's capabilities, as they can rotate over many planes. The accuracy and movement pattern nearly resemble a human arm.
Articulated Robot Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global articulated robot market report covering trends, opportunities, strategies, and more
The Articulated Robot Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on articulated robot market size, articulated robot market drivers and trends, articulated robot market major players and articulated robot market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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