Articulated Robot Market by Component (Controller, Arm, End Effector, Drive and Sensor)
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:
“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:
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
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services.
Jun 16, 2023
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