How the robotics market will look post Covid-19
A glimpse as to how the robotics market will look post Covid-19 has been revealed in a new report from MarketsandMarkets.
The global traditional industrial robotics market size is projected to grow from $44.6bn in 2020 to $73.0bn.
This is said to be down around 3% on the original estimate for 2025.
The key driver is that manufacturers are turning to automation in response to an increasing shortage of skilled workers in the manufacturing sector.
It is also expected that there will be a growing demand for various industrial robots across all industry segments, ranging from established industries such as automotive, as well as SMEs.
What’s more, automation in the electronics and food industry presents an excellent growth opportunity for industrial robots in the coming years, where manufacturers are expected to automate their production processes further to reduce the impact of such pandemic in the future on their production.
One of the main observations in the report is that articulated robots will dominate the industrial robotics market compared to other types of robots in 2020.
Traditional industrial robots have been in use in a broader set of industries compared to other industrial robots. The automotive sector accounts for the major share for the use of articulated robots as their production process is heavily automated. Although most industries are affected due to the COVID-19 pandemic, articulated robots are still expected to maintain the largest share of the market during the forecast period owing to their high payload capacity and rigidity as compared to other types of robots.
Another key observation is that the automotive industry will hold the largest share of the market in 2020.
Although production plants in key regions in APAC and Europe are being temporarily shut down (owing to COVID-19 lockdowns) and consumer demand for vehicles is decreasing rapidly, the automotive industry is still expected to hold the largest share of the market by 2020 compared to other sectors.
Some automotive manufacturers are beginning to reopen their factories in China and Japan, where the risk of infection has somewhat subsided. However, consumer demand may not match the production even if the plants reopen. Which is why automotive companies are expected to hold back investments for a couple of years in the most pessimistic scenario.
Other industries will also be similarly affected, and they are not likely to overtake the market for industrial robots deployed in the automotive industry.
The report is entitled "COVID-19 Impact on Industrial Robotics Market by Type (Articulated, SCARA, Parallel, Cartesian Robots), Industry (Automotive; Electrical and Electronics; Food & Beverages; Pharmaceuticals and Cosmetics), and Region – Global Forecast to 2025."