Surge in adoption of industry 4.0 and enabling technologies industries, rise in need for mass production with reduced operation cost, upsurge in demand for IoT-based smart solutions and automation in various industries for qualitative and reliable manufacturing are crucial in contributing toward the growth of the market.
Allied Market Research published a research report on the SCARA robot market. The findings of the report states that the global market for SCARA robot generated $7.10 billion in 2018, and is expected to garner $14.78 billion by 2026, witnessing a CAGR of 9.8% from 2019 to 2026.The report offers valuable information on evolving market trends, major segments, top investment pockets, and key competitors for market players, investors, shareholders, and new entrants.
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Ankit Prajapati, the Lead Analyst, Semiconductors & Electronics at Allied Market Research, highlighted, “The global SCARA robot market is expected to witness considerable growth, due to upsurge in demand for IoT-based smart solutions and automation in various industries for qualitative and reliable manufacturing. Various industry players are focusing on increasing the efficiency of the manufacturing process to achieve low cost and high-quality production results, which drive the SCARA robot market. Furthermore, increase in demand for mass production in manufacturing industries also increases the demand for industrial application, as it resolves the quality control issue associated with mass production.”
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The research offers an extensive analysis of drivers, restraints, and opportunities to enable market players to gain insights for strategizing and tapping on new opportunities. Surge in adoption of industry 4.0 and enabling technologies industries, rise in need for mass production with reduced operation cost, upsurge in demand for IoT-based smart solutions and automation in various industries for qualitative and reliable manufacturing are crucial in contributing toward the growth of the market. On the contrary, high cost of implementation of SCARA Robots impedes the market growth. However, rise in application areas of collaborative robots and increase in demand for automation in Asian countries such as Japan and China presents opportunities in the next few years.
The research provides a detailed scenario regarding the impact of the Covid-19 pandemic on the SCARA robot market across the globe. The outbreak of Covid-19 impacted the manufacturing of SCARA robots during the initial days of the pandemic. The SCARA robots helped to enhance the production of Covid tests, thus increasing the market demand during the third and fourth quarter of 2020.
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The report offers a detailed analysis of segments of the global SCARA robot market. These segments include payload capacity, application, industry vertical, and region. This analysis assists new entrants, investors, and market players as they can determine the fastest growing and highest revenue-generating segments for determining growth strategies for the next few years.
Based on payload capacity, the up to 5.0 kg segment generated the highest revenue in the global SCARA robot market in 2018. However, the 5.01 KG to 15.00 KG segment is anticipated to witness the fastest CAGR of 11.7% during 2019-2026.
Based on application, the noise material handling segment dominated the market in 2018, holding nearly one-third of the total market share. On the other hand, the assembling and disassembling segment would manifest the fastest CAGR of 12.6% during the forecast period.
The market across Europe held the largest share in 2018, accounting for more than one-third of the market. However, the market across Asia-Pacific is anticipated to witness the fastest CAGR of 11.9% during the forecast period.
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Leading players of the global geothermal power market analyzed in the research include Kawasaki Robotics, Mitsubishi Electric Corporation, Yaskawa Electric Corporation, Seiko Epson Corporation, ABB, OMRAN Corporation, KUKA AG, Fanuc Corporation, DENSO Corporation (DENSO Robotics), and Stäubli International AG.
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