Interact Analysis Sees Industrial Robotics Market Thriving
March 25, 2021
Interact
Analysis has published a new report on industrial robotics showing that the
industrial robots sector is on track to deliver a swift recovery after a recent
unprecedented two-year downturn.
During the economic slow-down in 2019 the industrial robotics sector saw
shipments fall by 5.4%. The pandemic of 2020 saw a further fall of 5.9% as
80,000 fewer units were shipped than previously forecast. This was a difficult
time for the sector, and it will take time to recover. Interact Analysis
acknowledges that pre-COVID estimates of growth up to 2024 have now gone out of
the window, but it has identified strong drivers for growth as economies emerge
from the pandemic. The company’s in-depth research has concluded that new
industry applications for robotics and more advanced technologies coupled with
reducing prices will cause an acceleration in revenues in 2021, with an increase
of 9.2% in revenue terms, and 9.6% in shipment terms. This will be followed by
sustained growth up to 2024.
Articulated robots are predicted to be the slowest to recover to 2019 levels,
given that the industry where they are predominantly used – automotive – has
been hit so badly by the pandemic. Sales of SCARA robots, used in light duty
pick and place and assembly operations are predicted to recover as their
potential for use in different applications is recognized. The collaborative
robot market, which saw negative growth for the first time in 2020, is forecast
to bounce back with an impressive 15-20% year-on-year growth rate up to 2028.
The
expected pattern of regional recovery for the industrial robot sector is
familiar. The virus started in Asia, and then moved to Europe and North America,
and the infection continues to spread. As a result, normal business operations
will resume earlier in Asia, and this will impact on robot shipments in those
areas, most notably in China, where the virus was brought under control by May
2020. The Chinese market is the only one forecast to surpass 2019 levels by
2021. This is in the main due to the large domestic demand coming from China
itself, rather than an increase in China’s export markets which are, of course,
still badly hit by COVID.
Jan Zhang, senior director at Interact Analysis says: “The downturn of 2019 and
the shock of the pandemic tripped up the industrial robotics market, but it only
stumbled. Factors such as staff shortages, social distancing, the ever-pressing
need for efficiency and speed, and the realization of the need to build in
resilience in the face of world shocks such as COVID-19 mean that now more than
ever, industries across the globe recognize the value of robotics. We believe
the next few years will see the sector recover its footing and thrive.” |