Market Insights
Material handling robots are essentially automated machinery that is used to transfer objects. Various types of robots exist under material handling robotics and can be fitted with various arm tools. Market Research Future has examined the global material handling robotics market in its entirety to find that the market is anticipated to witness growth at a CAGR of 10% during the review period from 2017 to 2023. The growth of the market is likely to result in market value of USD 31 Bn by the end of 2023. Material handling robotics has applications in a variety of end-use industries.
Material handling robots are used as a part of the manufacturing and shipping process of many end-user industries including automotive, electrical & electronics, food & beverage, and others. In these industries they are often used for palletizing, packaging, transferring items and several other vital tasks that reduce human error and maximize efficiency, thus driving demand. The strong demand and need for automation in the growing industrialization across the globe is expected to drive the material handling robotics market. Moreover, material handling robotics reduces human error and maximizes efficiency in the manufacturing process making it highly useful. Additionally, the use of such robots to move heavy objects saves time in any process.
High costs associated with material handling robotics and their installation is a deterrent which is restraining market growth.
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Market Segmentation
The segments of the global Material Handling Robotics Market have been divided on the basis of scara material handling robot, parallel material handling robot, articulated material handling robot, and others.
Applications of material handling robotics can be found in packing & packaging, product/part transfer, machine tending, pick & place, palletizing/de-palletizing, and others.
End-users of material handling robotics include chemical, automotive, metal & machinery, electrical & electronics, food & beverage, and others.
The regions that have been covered in the report include Europe, North America, Asia Pacific, and the Rest of the World.
Regional Analysis
Observations of the market indicate that the Asia Pacific regional material handling robotics market possesses the largest share of the global market. The region displays the highest potential for growth as well and will grow at a truly significant pace. The APAC region is a manufacturing hub which is consistently expanding and thus producing constant demand for material handling robotics. Growth is expected to the highest in emerging countries such as China, India, and Japan. Japan is a market leader in robotics and has several important market players in the region. Moreover, the manufacturing sector of the APAC region is highly attractive to global players as it offers many advantages such as low labor and operating costs. Moreover, the consumer population in the region is massive, growing and has increased disposable incomes, thus driving the manufacturing sector as a whole.
Key Players
KUKA, Adept Technology, Epson Robotics, Apex Automation and Robotics, Fanuc, Denso Wave, ABB, DAIHEN Corporation, Kawasaki Robotics, Nachi Robotic Systems, and others have been included in MRFR analysis of the material handle robotics market competitive landscape. MRFR’s report covers various details regarding the players in the market, their shares and various growth strategies that they employ.
Latest Industry News
RightHand Robotics has acquired USD 23 Mn in funding toward the expansion of its operations. A leading provider of material handling robotics, the company plans to use the investment for the broadening of its product applications.
Mobile Industrial Robotics (MiR) has announced its strategic collaboration with Faurecia to deploy advanced material handling robots. The autonomous robot promises to optimize productivity.
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