According to the report, the Industrial Robotic Motors market accounted for USD 727 Million in 2018 and is expected to reach USD 2527.6 Billion by 2026, growing at a CAGR of around 12% between 2019 and 2026.
The global industrial robotic motors market was valued at 727 Million USD in 2018 and expected to be valued 2527.6 Million USD in 2026 at a CAGR of 12%. The report covers estimation and analysis for the industrial robotic motors market on a regional and global level. The study offers a widespread valuation of the market, emerging trends, opportunities, competition, and industry-validated market records. The research report provides significant data from 2016 to 2018 along with a forecast from 2019 to 2026 based revenue (USD Million).
Robotic motors are the electric machines in which electrical energy is converted into mechanical energy. Thus, through this mechanical energy, the robots are operated. The electrical energy can be powered by direct current sources such as batteries, or rectifiers. There are many types of motors available in the market, but among them, servo motors, DC motors, and stepper motors are widely used in the industrial robots according to their robot type area. The increasing robotic automation across various verticals is boosting the demand for the global industrial robotic motors market. Moreover, their long operating life, low maintenance, and energy consumption are further catering to their needs in industrial robots. However, requirement of high overall cost for low volume motor type ion could challenge the market value.
Based on the motor type, the global industrial robotic motors market has been classified into servo motor, dc motor, and stepper motor. Servo motors segment has dominated the market share in 2018. Servo motors are generally used in industrial robots as a high-performance substitute to other motor types. Servo motors are capable of producing enough torque to move an object quickly. Moreover, servo motors are used for precise and accurate control which is implemented in closed-loop operations.
The global industrial robotic motors market is categorized into SCARA robots, Cartesian/gantry robots, collaborative robots, articulated robots, delta robots, and dual-arm robots. In the global industrial robotic motors market, the articulated robot type segment is expected to bolster the demand over the forecast period. Articulated robots are generally used in manufacturing industries for variety of Robot Types, including sealing, welding, assembling, cutting, picking, and other such activities. Rapid industrialization coupled with increasing technological advancements in articulated robots is driving the segment growth.
Based on the region, Asia-Pacific led by China is expected to grow at the highest CAGR. In 2018, China has manufactured the highest number of industrial robotics, i.e., more than 400,000 across the globe. This has further increased the demand for robotic motors. Furthermore, South Korea has the highest density of robotic workers and is further expected to witness increasing demands from the electronics and manufacturing industries. Whereas, a significant rise in the wages of laborers in countries like UK, Germany, and Norway is influencing industrial operators to turn to collaborative robots, thereby raising the demand for industrial robotic motors.
Mitsubishi Electric, DENSO, EPSON, Universal Robots, b+m Surface Systems, Comau, IGM, Franka Emika, Delta Electronics, Techman Robots, Siasun, Dahl Automation GmbH, Gimatic Srl, HumaRobotics, Industrial Vision Systems, Life Robotics, J. Schmalz GmbH, YASKAWA, KUKA, Micropsi Industries GmbH, Kawasaki Heavy Industries, NACHI-FUJIKOSHI, Omron Adept, Yamaha, ST Robotics, CMA Robotics, Rethink Robotics, Precise Automation, Carbon Robotics, Empire Robotics, Hanwha Precision Machinery, and iCobots are some of the major industry participants leading the global industrial robotic motors market. The major stratagems implemented by these leading companies in the market are collaborations, mergers & acquisitions and new motor type developments. These companies are focusing more on investment in inventions, partnerships, and expansions to increase their market share.
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Global Industrial Robotic Motors Market: Motor Type Segment Analysis
Global Industrial Robotic Motors Market: Robot Type Segment Analysis
Global Industrial Robotic Motors Market: Fit Type Segment Analysis
Global Industrial Robotic Motors Market: Regional Segment Analysis
With several SMEs cropping up across the emerging economies, there has been a marked growth in the demand for robotic systems, which are increasingly becoming easier to use. The global industrial robotic motors market size is certain to augment on account of the widespread use of these motors for motion-control and repetitive motion applications including material removal, sanding, and polishing. The demand for compact industrial robotic motors has also been pushing the market growth.
Asia Pacific has substantial potential for expansion through the forecast years, owing to the greater penetration of latest technologies such as AI, machine learning, IoT, and robotic technologies. India is expected to represent a significant chunk of the market revenue by 2026, owing to the presence of a booming industrial sector where manufacturing units are adopting automation at a fast rate.