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Report: Industrial Robot Component Revenues to Top $9.3B by 2025

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November 25, 2021

Global market intelligence firm Interact Analysis is predicting that the market for industrial robot components will enjoy strong double-digit growth for 2021, with expected revenues to exceed $9.3 billion by 2025. The company warned, however, that this year’s market growth in revenue can be partially explained by major price increases in key components and raw materials, as well as supply chain issues and general inflationary pressures.

Key component markets covered by Interact’s report include motors, drives, gearboxes, controllers, teach pendances, sensors, end effectors, and machine vision. All of those areas are forecasted for growth with varying rates over the next few years. The company said machine vision and end effectors will see the strongest performance as a result of particularly strong growth in the complex robotics systems that require these components. For example, end effectors, the largest individual component market, will enjoy above average growth through 2025, at which time the sector will be worth more than $2.5 billion. The combined market for motors, drives and gearboxes will exceed that of end effectors, although a high proportion of these components are manufactured in-house by robot manufacturers.

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Machine vision was the only area that remained stable during the pandemic, Interact said, as demand for this technology outweighed wider problems in the market and supply chain. Other sectors suffered market decline in 2019 and 2020, as a result of the knock-on effect of a severe decline in the wider industrial robot market.

The research firm also said the industrial robot components market is dominated by companies in Japan, with China close behind. Compared with these two countries, the market opportunities for robot components in the rest of the world is small. The firm added that China will exceed Japanese unit production levels of industrial robots by 2022, but revenues for the components will remain larger in Japan through 2025, mainly because Japan will remain the largest producer of higher payload (and therefore more expensive) articulated robots.

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“Although the total market for key components used in articulated robots suffered the most between 20218 and 2020, mainly because of the automotive slowdown, component revenues in this sub-sector of robotics remained the largest by a significant margin,” said Tim Dawson, senior research director at Interact Analysis. “However, the articulated robot component market is dominated by well-entrenched vendors. In contrast, the collaborative robot component market is much more open to new entrants, and is also growing strongly. Collaborative robot component revenues will exceed $1.1 billion by 2025.”

For more details on the report, visit the Interact Analysis website here.


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