Analysis

Will industrial robot sales recover in 2021?

26th March 2021
Alex Lynn

Recovery in automotive industry and sustained momentum from food sector will be key to industrial robots recovery in 2021, a new edition of the report on Industrial Robots by an ESOMAR-certified marker research and consulting firm has found. According to the study, demand for industrial robots witnessed a deceleration in 2020, however, as economic recovery has commenced, manufacturers can look forward to opportunities to emerge.

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.

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