Global Motors and Actuators Market in Industrial Robots 2017-2021
About motors and actuators in industrial robots
Industrial robots are machines that perform complex tasks accurately, at high speed and precision in the industrial processes. The presence of a large number of vendors has resulted in intense competition in the market. These vendors also provide articulated robots to the industrial users to create a competitive edge. The majority of the leading vendors in industrial robotics are based in APAC. Motors and actuators, particularly motors like servo motors and stepper motors are used in industrial robotics. This is because servo and stepper motors provide precision in rotary movement. Actuators like pneumatic and electronic actuators are commonly used as they provide the required linear or circular movement for the robots to perform application-specific tasks.
Technavio’s analysts forecast the global motors and actuators market in industrial robots to grow at a CAGR of 6.46% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global motors and actuators market in industrial robots for 2017-2021. To calculate the market size, the report considers the revenue generated from the new installations and sales value.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Motors and Actuators Market in Industrial Robots 2017-2021
Technavio recognizes the following companies as the key players in the – global motors and actuators market in industrial robots: ABB, Applied Motion Products, FAULHABER, Nippon Pulse, Schneider Electric
Other Prominent Vendors in the market are: AMTEK, Emerson, Mini Motor, Moog, Nidec, Phytron, TECO Electro Devices, AZBIL
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increased need for cobots in industrial activity. Cobots are collaborative robots that work along with humans to help them in different tasks so as to assist in performing the tasks in an efficient manner. Industrial robots are expensive and require high initial investments, which creates a greater challenge for the medium and small enterprises to adopt industrial robots in their factory premises. Cobots are easy to install, less expensive, and easily affordable by SMEs. Due to the reduction in sensor cost and availability of drives at a lower price, cobots are expected to have high demand during the forecast period.”
According to the report, one of the major drivers for this market is increasing demand for industrial robots in manufacturing companies. Industrial robots started their foray with the manufacturing processes in the automotive industry. The robots, because of their precise movement and accuracy in performing tasks, soon established in food and beverages and electronic and electrical industries. The increased awareness about the activities performed by the industrial robots has attracted many manufacturers in the recent times. The added advantages like improved output, and quality and complex tasks performed with ease have paved the way for industrial robots in the manufacturing industry.
Further, the report states that one of the major factors hindering the growth of this market is high initial capital expenditure for industrial robots. The initial capital expenditure for industrial robots is high, and the small- and medium-sized manufacturers find it difficult to switch to robots in their factory premises. The complete industrial robot system cost creates a greater burden on the income of the manufacturers. As along with the robots' installation, the factory facility must be renovated to provide proper communication from the systems to the robots. Three-fourth of the overall cost comprises system engineering and installations. The cost is higher as it also includes other services like preventive maintenance, operators training, safety, and other peripheral equipment. The cost of robots is not unified as different applications and industries require different robotic arms based on the application. Hence, the cost of robots differs from application to application and the technology being used.
ABB, Applied Motion Products, FAULHABER, Nippon Pulse, Schneider Electric, AMTEK, Emerson, Mini Motor, Moog, Nidec, Phytron, TECO Electro Devices, AZBIL
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