Proficient Market has published a new report titled “Industrial Robot Speed Reducer Market”. According to the report, Global Industrial Robot Speed Reducer Market in 2019 stood at USD 1,443.86 million and is expected to reach USD 2,742.90 million by 2026 growing at a CAGR of 9.60% from 2019 to 2026.
An industrial robot consists of various core parts like: speed reducers, controllers & drive, and servomotors. An Industrial robot is a robot system that is used for manufacturing purposes and various other purposes as they have been increasingly used as they work similar to humans and aid in achieving precise results. The industrial robots are programmable, automated and are capable of moment. On the other hand, speed reducers are commonly generalized as mechanical devices used to multiply the amount of torque generated by an input power source to increase the amount of usable work. They also aid in reducing the input power source speed in order to achieve desired output speeds. Various speed reducers used/ available for robots are RV Reducers, Planet Speed Reducers, Harmonic Reducers and Others.
Industrial Robot Speed Reducer Market: Key Players
The research study includes profiles of leading companies operating in the global industrial robot speed reducer market. Key players profiled in the report include: Nabtesco Corporation, Harmonic Drive LLC, ABB Ltd, YASKAWA Electric Corporation, Sumitomo and Others.
Drivers for the Global Industrial Robot Speed Reducer Market:
Rising demand for industrial robotics due to its benefits such as: progressing flexibility of manufacturing process, improving product quality, reduction in waste and improving the yield and optimum utilization of space among others. Labor concentrated industries are facing challenges of increasing labor cost and lack of skilled labor force and hence is developing adoption of the robots and acceptance of robotic technology to automate operations. Thus, development in industrialization is the major driver responsible for the growth of industrial robot speed reducer market.
Opportunities for the Global Industrial Robot Speed Reducer Market:
Moreover, increase in the adoption of the robots in various industries like: machinery, food & beverage, automotive, precision & optics for automation processes, which aids in increasing the efficiency, enhanced safety of the workforce, reduction in errors caused by humans, efficiency in carrying out and managing a process, reduction in custom duties and many other benefits that aid in proper management of industries through evolving robotics and artificial intelligence. Hence these properties and benefits are positively influencing the Industrial Robot Speed Reducer market growth.
Restrains for the Global Industrial Robot Speed Reducer Market:
However, course of damage related to robot speed reducer such as; contamination, high corrosion, electrical discharge or lack of lubrication hinders the adoption of robot speed reducer in various sectors. High cost involved in machinery production and high maintenance expenses can further expected to hinder market growth.
Region Wise, Global Industrial Robot Speed Reducer Market Analysis:
China held major share in the market due to general economic conditions, investment in new technologies, rising labor costs, high investments by petrochemical and chemical industries, supportive government policies, rapid industrialization, increasing investments in the energy and power sector is expected to fuel the claim for industrial automation. Besides, Europe and North America are having large share in industrial robot speed reducer market.
Global Industrial Robot Speed Reducer Market: Technology analysis
- RV Reducers
- Harmonic Reducers
- Planet Speed Reducers
Global Industrial Robot Speed Reducer Market: Application analysis
- Welding Robot
- Spray Robot
- Stacking Robot
Global Industrial Robot Speed Reducer Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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