Industrial robotics market to exceed US$2B by 2020

According to the latest market research study released by Technavio, the global industrial robotics market in heavy industries is expected to exceed USD 2 billion by 2020, growing at a CAGR of over 6% during the forecast period. 

Global industrial robotics market in metalworking machinery segment

The global industrial robotics market in the metalworking machinery segment is expected to exceed USD 690 million by 2020, growing at a CAGR of over 6%.

The metalworking machinery segment involves machine tools, which constitute conventional machine tools and CNC machine manufacturing. The demand for machine tools has increased from China, Germany, and Japan, especially for CNC machines that have a major presence in the automotive sector. The assembly of all these components requires industrial robots in the production line, especially material handling and assembly robots.

“The market is experiencing robot-machine tool collaboration for smooth and efficient functioning of processes. As machine tools are fed materials for machining manually, robots are performing this function with higher precision and improved quality in less time. This factor is likely to fuel the market growth as vendors are offering their robotic solutions based on the requirements of different industries,” says Bharath Kanniappan, a lead analyst for robotics at Technavio.

Global industrial robotics market in construction machinery segment

The global industrial robotics market in the construction machinery segment is predicted to reach USD 600 million by 2020, growing at a CAGR of over 7%. Global economic growth, rapid industrial development, and urbanization have led to the development of infrastructure projects and commercial establishments worldwide, particularly in APAC and the Middle East.

Moreover, the rising middle-class segment and growing population worldwide have resulted in an increase in construction of residential buildings, which is creating high demand for construction machinery worldwide.

Manufacturers are thus increasing their production to meet demand and reduce operational costs stemming from fluctuating raw material prices and rising labor costs. This has provided opportunities for robotic vendors to raise awareness about the benefits of using robots and promote their use in the manufacturing processes.

Industrial robotics market in other heavy machinery segment

The global industrial robotics market in other heavy machinery segment is expected to exceed USD 1 billion by 2020, growing at a CAGR of over 5%.

The other machinery segment includes engineering machinery, textile machinery, F&B machinery, paper machinery, and machinery for consumer durables. Lack of skilled labor, high costs, and need to improve production processes have led companies to opt for robots as a solution to their production problems.

“Rapid evolution of technology has also resulted in the invention of advanced robots such as collaborative robots. These robots are much safer to handle and can work along with humans, especially during assembly processes. APAC is likely to be the largest contributor to the industrial robotics market for other industries, as these industries have a firm foothold in this region,” says Bharath.