Heavy Payload Robotic Arm Market Expected to Reach $13,620.96 Million by 2025 | CAGR: 4.39% - Allied Market Research
PORTLAND, Oregon, July 24, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research titled, "Heavy Payload Robotic Arm Market by Payload Capacity, and End-user Industry: Global Opportunity Analysis and Industry Forecast, 2018-2025," the heavy payload robotic arm market was valued at $9,740.57 million in 2017 and is expected to reach $13,620.96 million by 2025, registering a CAGR of 4.39% from 2018 to 2025. Automotive industry dominated the heavy payload robotic arm market, accounting for around one-third share of the total revenue by end-user industry.
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The heavy payload robotic arm helps perform heavy duty tasks such as picking & placing, machine loading, parts transfer, and palletizing. Moreover, these mechanical arms deliver superior performance in tasks that are labor intensive, repetitive, physically enduring, and potentially dangerous for human labor. Increase in expenditure towards improving the production capabilities through adoption of industrial robotics and robotic arms is the major factor driving the growth of heavy payload robotic arm market. Also, the adoption of industrial automation solution such as robotics has gained traction among small and medium enterprise owners, subsequently fueling the demand for robotic arms in the past few years. As a result, the heavy payload robotic arm market is expected to generate profitable opportunities for the manufacturers during the forecast period.
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The increase in emphasis over improving the production capabilities through adoption of automated industrial robotics solutions has gained popularity in past few years. Thus, the demand for robotic arms, especially for heavy duty applications has increased across different industry verticals in the past few years. Thus, it fuels the growth of the heavy payload robotic arm market among various end-users. The robotic arm of 500-700 Kg payload capacity was valued at $5.53 billion in 2017 and is expected to reach around $7.73 billion by 2025 registering a CAGR of 4.38%
The automotive industry accounted for a major share in the heavy payload robotic arm market due to rise in adoption of industrial robotic solutions by various automotive manufacturers over the past few years. As a result, the automotive industry alone accounted for almost one fourth of the market share by end-user industry in the global market in 2017. Further, the increase in demand for commercial and passenger vehicles, especially in the Asian market is anticipated to provide numerous opportunities for the robotic arm manufacturers in automotive industry. Thus, the automotive industry is projected to remain dominant in the coming years.
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Key findings of the study
- In terms of market share, the 500-700 Kg segment generated the maximum revenue in 2017 and is expected to grow at a CAGR of 4.38% during the forecast period.
- The automotive industry is anticipated to grow at a CAGR of 3.82% from 2018 to 2025 and reach $3.34 billion by 2025.
- Asia-Pacific is expected to witness high s CAGR growth of 5.34% from 2018 to 2025.
The major players in the global heavy payload robotic arm market are focusing on the new product development to gain a strong foothold in the market. The key players profiled in the report include ABB Ltd., Kuka Robotics, Fanuc Corporation, Kawasaki Heavy Industries Ltd., Yaskawa America, Inc., Nachi Fujikoshi Corporation, Seiko Epson Corporation, Universal Robots A/S, Vulcan Engineering Co., and Comau SpA.
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