New York, March 14, 2023 (GLOBE NEWSWIRE) -- As per Persistence Market Research (PMR), the global articulated robot sales totaled a valuation of US$ 9.2 billion in 2022. Over the next ten years, the worldwide Articulated Robot Market will thrive at 8.3% CAGR. Accordingly, total market size will reach US$ 20.4 billion by 2032.
Handling remains the most important function of articulated robots. PMR forecast the handling segment to rise at 8.1% CAGR from 2023 to 2032.
Rapid penetration of automation across manufacturing industries is driving the articulated robot market. Increasing need for reducing human errors and improving productivity is also fueling demand.
Articulated robots are those that have joints that can rotate. They can range from simple two-jointed constructions to systems with ten or more interconnected joints. These robots are powered by various means such as electric motors.
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Articulated robots are designed to do a wide range of tasks. They are ideal for handling, welding, assembling, and dispensing applications. Rising adoption of articulated robots across automotive, metal, chemical and several other industries will fuel demand.
Usually, repetitive, physically demanding, or dangerous duties are handled by articulated robots. They easily handle or move heavy objects, thereby reducing need for laborers. They help industries to improve productivity and reduce costs.
Growing focus on reducing need for human laborers in dangerous working sites such as radioactive mining is likely to bolster articulated robot sales. Besides this, growing support of government to encourage adoption of factory automation will boost market.
Key Takeaways from Articulated Robot Market Report:
- Global articulated robot market is forecast to expand at 8.3% CAGR through 2032.
- By payload, upto 16 Kg segment is likely to rise at 8.2% CAGR over the next ten years.
- Based on function, handling segment will expand at 8.1% CAGR during the assessment period.
- The United States articulated robot market is set to reach US$ 3.1 billion by 2032.
- Articulated robot sales in the United Kingdom will surge at 6.7% CAGR through 2032.
- China articulated robot market is set to progress at 9.8% CAGR through 2033.
- Articulated robot demand in Korea will increase at 8.8% CAGR during the forecast period.
“Rapid penetration of automation across industries will boost articulated robot demand worldwide. Further, rising focus on improving productivity and reducing labor cost will bode well for the market.” Says a Persistence Market Research analyst.
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Who is Winning?
Denso Wave, Aurotek Corporation, Triowin, ABB Ltd., Fanuc Corporation, KUKA AG, Seiko Epson Corporation, SIASUN, DENSO Corporation, Toshiba Machine, and Omron Corporation are few of the leading articulated robot manufacturers.
Recent Developments:
- In October 2022, a new smaller industrial robot with high payload capacity and accuracy was introduced by ABB.
Get More Valuable Insights into Articulated Robot Market
Persistence Market Research, in its new offering, presents an unbiased analysis of the articulated robot market, presenting historical market data (2017 to 2021) and forecast statistics for the period from 2023 to 2032.
The study reveals extensive growth in the articulated robot market in terms of
- payload (upto 16kg, 16 to 60kg, 60 to 225kg, and more than 225kg),
- function (handling, welding, dispensing, and assembling),
- type (4-axis or less, 5-axis and 6-axis or more),
- component (controller, arm, end effector, drive and sensor),
- end-use industry (automotive, electrical and electronics, chemicals, rubber and plastics, metal and machinery, food and beverages, precision engineering and optics, and pharmaceuticals and cosmetics)
- across several regions.
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