Will industrial robot sales recover in 2021?

The latest edition (2021-2031) of the study builds upon the previous version, recalibrating market estimates for COVID-19 impact. The competitive landscape of the section has also been expanded to include changes in market structure, including M&As, divestures, and new forays.

“Investment in industrial robots was looking up before COVID-19 crisis. Although a sudden deceleration occurred in 2020, the long-term prospects of the market remain strong,” said a lead analyst.

Key takeaways

• Industrial robot sales to rebound after a period of deceleration in 2020, as manufacturing industries look for resumption of activities.
• End-users are likely to ramp up demand for customised machinery, which will influence manufacturing activity.
• Asia Pacific continues to be one of the leading markets for industrial robots, as many economies in the region have been relatively less impacted.
• Growing emphasis on factory automation and IIoT will create positive sentiment on industrial robots.

Prominent drivers

• Manufacturing industry is readying for the future of manufacturing, creating substantial opportunities for market players.
• Broader focus on improving plant efficiency continues to create opportunities.
• Rise of e-commerce during the COVID-19 pandemic has created additional requirement for industrial robots in warehouse management.

Key restraints

• The high cost of deployment of robots continues to be a deterrent, especially among small and medium enterprises.
• Technical know-how and scheduled periodic maintenance continues to inhibit new sales.
• Lack of adequate infrastructure for incorporating industrial robots remains a key challenge.