Will industrial robot sales recover in 2021?
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.
- 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.
- 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.
- 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.