FEATURE Robotics
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Components in robot market to exceed $18bn by 2027
By Samantha Mou, Research Analyst at Interact Analysis U
pdated research by Interact Analysis shows that revenues for key components in industrial
robots exceeded $10.5bn in 2021, leading to revised forecasts for the next five years.
The key components considered in
this research include motors, drives, precision gearboxes, robot controllers, teach pendants, sensors, end effectors and machine-vision hardware.
Predicted growth As a result of growing demand for industrial robots, the components in industrial robots market is predicted to exceed $18bn by 2027, growing at a CAGR of 9.7%. The market for drivetrain components accounted for 42% of total component revenues in 2022, reaching $5.1bn. This consists of motors, drives and precision gearboxes. Revenue from drivetrain components is set to grow at a CAGR of 7.7% from 2022 to 2027, slightly lower than the predicted growth rate of the total components market. End effectors account for the largest
share of this market, but the market for sensors and machine vision will grow the fastest between 2022 and 2027, in part due to increasing demand for robot safety and flexibility, which these components offer. End effectors currently represent the
largest key component market as one robot can be equipped with multiple units.
Regional perspectives Taking a regional perspective on the components in industrial robots market, Japan is currently the largest, with China expected to catch up by 2027 in terms of revenue. Although the production volume of industrial robots in China exceeds that of Japan, the average selling price of components is much lower in China
16 February 2024 | Automation
Key components in industrial robots, revenues in $m
than in Japan because of the intensive competition among local vendors. This factor therefore offers a boost for the Japanese industrial robot components market. EMEA is the third largest market followed by the Americas, but both regions show promising growth as a result of the growing production of collaborative robots in the region, as well as the increasing commitment of robot vendors to manufacture in North America.
The demand for industrial robots is having a direct impact on the market for components in industrial robots. As well as this, many vendors are aiming for localised robot production in North America which is boosting components market in the region. We have significantly revised our
forecasts up for the total components in industrial robots market and the market is expected to enjoy substantial growth through to 2027.
Different robots Conserning robot types and payload ranges, for articulated robots, the
components revenue is expected to increase most for robots with payload ranges of 80-300kg and 10-80kg, during the period of 2022-2027. For collaborative and SCARA robots, revenues of key components are expected to increase most for robots with payloads of 5-10kg, although the forecast of market growth rates is the highest for components for robots with payloads of over 20kg.
Vendor landscape
In terms of vendor landscape, most of the companies that produce their own drives and motors for industrial robots are manufacturers of motion-control technology, like Fanuc, Yaskawa, Estun and Inovance. Many vendors that don’t currently produce motion-control components are working towards bring component production in-house, such as Epson, Siasun and Efort. While most robot vendors still choose to buy gearboxes from external suppliers, some companies are also working to bring this production in- house or are making investments to facilitate this.
automationmagazine.co.uk
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