COVID-19 is a communicable disease caused by a recently discovered virus called corona-virus. COVID-19 is pushing corporation to abruptly operate in new ways, and systems resilience is being tested as never before. As this virus enables manpower to stay at home, the industrial robots are productive in industries at the place of human workforce. Industrial robots are machine controlled, programmable and capable of movement on three or additional axes and might be utilized in wide scale of end use industries like Automotive, Rubber and Plastics, Electrical and Electronics, Chemicals, Precision engineering and Optics, , Food & Beverages Pharmaceuticals, Metals & machinery and Cosmetics.Lack of excellent labour and solicitation of proposals by governments and public-private firms to mitigate the adverse impact of COVID-19 are key driving factors for the market.
According to the study, ‘Global COVID-19 Impact on Industrial Robotics Market to reach XX billion by 2026’ The market is concentrated, and the degree of concentration will accelerate during the forecast period. ABB Ltd., Staubli International AGb+m surface systems GmbH, FANUC Corp., KUKA AG, OMRON Corp., Teradyne Inc., Comau Spa, DENSO Corp. and Yaskawa Electric Corp. are some of the major market participants. To make the foremost of the opportunities, market vendors got to focusa lot on the enlargement prospects inside the invasive segments, whereas maintaining their positions inside the slow-growing segments. Like different industries, the metals & machinery firms conjointly been hampered by the COVID-19 pandemic. The dearth of demand for metals and machines from the development, automotive, construction, and a lot of industries have severely affected the metals & machinery sector.
The implementation of lockdown in various parts of the globe has generated obstructions among economies. A severe downfall of industrial robots has been determined in 2020 as a result of the big investment and installation prices that are hampering the enlargement of the world industrial robotics market. The key propulsion on the market is predicted to be the price reduction and increasing quality of the merchandise. The market is expected to look at a major rise once the COVID-19 pandemic ends and also the functioning of production units resumes. For instance: as per Company's news release in November 2019, B&R, a unit of ABB's Robotics and Discrete Automation business launched fully integrated Machine-Centric Robotics solution in its automation portfolio. B&R can currently be able to provide machine builders with machine automation and robotics from one supply along with all their control, I/O and drive elements. However, high installation cost of industrial robots, especially for small and medium-sized enterprises is the major factor restraining the growth of global COVID-19 Impact on Industrial Robotics market during the forecast period.
The regional analysis of global COVID-19 Impact on Industrial Robotics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is that the leading/significant region across the globe. Whereas, Asia-Pacific is additionally anticipated to exhibit highest rate of growth / CAGR over the forecast period 2020-2026. By Type: Articulated, SCARA, Parallel/Delta, Cartesian/Gantry/Linear Robots and Others. By Industry: Automotive, Electrical and Electronics, Chemicals, Rubber and Plastics, Metals & machinery, Food & Beverages, Precision engineering and Optics, Pharmaceuticals and Cosmetics.
Moreover, to assist businesses survive in the course of the COVID-19 crisis, government bodies are implementing vital schemes for promoting manufacturing industries. Growing demand for industrial robots in several industries to boost the merchandise within the forecast amount is expected to drive the market during and after this COVID-19 crisis also. Additionally, implementation of artificial intelligence and machine learning in these robots is predicted to create more opportunity for the investors to invest in the industrial robots. Industrial robots are mainly found to be used in heavy engineering that within the forecast amount is also anticipated to be the most actuation for the market. Moreover, improved production lines efficiency and the growing adoption of automation in the industry will also drive the demand over the forecast period after COVID-19.
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Ankur Gupta, Head Marketing & Communications