A lead analyst at AMR highlighted that the heavy payload robotic arm market in LAMEA is anticipated to grow at the fastest CAGR during the forecast period.
Allied Market Research published a research report on the heavy payload robotic arm market. The findings of the report states that the global market for heavy payload robotic arm generated $11.42 billion in 2020, and is projected to reach $19.57 billion by 2030, witnessing a CAGR of 5.4% from 2021 to 2030. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenario for market players, investors, shareholders, and new entrants.
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The report provides detailed insights on drivers, restrains, and opportunities to help the market players in devising several growth strategies. Increase in investment from government on artificial intelligence systems, extensive applications of automation by heavy payload robotic arm in various industries, significant surge in industrialization, and remarkable perks of intelligent automation such as reduced cost, simplification of processes, and increased output are expected to drive the growth of the global heavy payload robotic arm market. On the other hand, high cost of heavy payload robots is expected to hinder the growth to some extent. However, increase in the adoption of artificial intelligence systems that save the fuel and provide the economy are expected to create ample opportunities for the growth of the industry.
The report provides a detailed scenario of the impact of the Covid-19 pandemic on the heavy payload robotic arm market globally. The outbreak of Covid-19 pandemic has had a negative impact on the growth of the global heavy payload robotic arm, owing to the occurrence of lockdowns in various countries across the globe. Lockdowns led to the closure of most of manufacturing industries across the globe due to the stringent restrictions imposed by the government on social distancing so as to curb the spread of the virus during the pandemic. Hence, decrease in the demand and installation of new heavy payload robotic arm systems further aggravated the impact on the market.
“The global heavy payload robotic arm market has witnessed significant growth over the past decade, owing to rise in e-commerce business. The rise of e-commerce business has led to increase in packaging requirements as well as its extensive use in assembling of electronic products. Asia-Pacific holds the largest share in the market owing to large scale production of industrial equipment such as heavy payload robotic arm in China, in addition to high production of electronics. Moreover, LAMEA is the fastest growing region as there is increase in industrialization and urbanization in the developing nations such as Brazil, South Africa and other nations in the region,” highlighted Digvijay Pawar, Lead Analyst, Construction and Manufacturing at Allied Market Research.
The report offers a detailed segmentation on the global heavy payload robotic arm market based on type, payload capacity, end-user industry, and region.
Based on type, the articulated segment held the largest market share in 2020, holding more two-fifths of the global market. The SCARA segment, on the other hand, is expected to cite the fastest CAGR of 6.5% during the forecast period.
Based on end use industry, the machinery segment held the majority share in 2020, garnering more than one-fourth of the global market. The automotive segment, on the other hand, is predicted to exhibit the fastest CAGR of 4.8% during the forecast period.
Based on region, the market across Asia-Pacific region held the lion’s share in 2020, garnering nearly three-fifths of the global market. The LAMEA region, on the other hand, is expected to cite the fastest CAGR of 6.8% during the forecast period.
The key players analyzed in the global heavy payload robotic arm market report include Fanuc Corporation, Kawasaki Heavy Industries, Ltd., KUKA AG, Nachi-Fujikoshi Corp., Stellantis NV(Comau), Vulcan Engineering Co., ABB, Apex Automation and Robotics Pty Ltd, Ellison Technologies, and Yaskawa America, Inc.
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