The report of Global Material Handling Robotics Market by Product (Articulated material handling robots, Scara material handling robot, Parallel material handling robot, Others), Application (Pick & place, Palletizing/de-palletizing, Packing & packaging, Product/part transfer, machine tending, Others), End User (Automotive, Electrical and electronics, Metal & machinery, Chemical, Food & Beverage, Others), and Region (Asia Pacific, North America, Europe, Latin America, and Middle East Africa) is expected to reach US$ XX Bn by 2027, at a CAGR of 10.5% during a forecast period.
Material handling robots are used in the manufacturing line to automate some of the most tedious, dull, and risky tasks and is one of the easiest methods to enlarge automation. The Global Material Handling Robotics market is driven by the increase in the number of manufacturing facilities to reduce human error and accidents, and the ability of robots to enhance the efficiency of the manufacturing unit and increase customer satisfaction by conveying quality products in time. However, the high initial investment required for material handling robots is restraining the market growth at the global level. The necessity of a skilled workforce for repair and maintenance is the major challenge for market growth in the near future.
Automotive segment is expected to grow at the highest XX% CAGR during the forecast period.
In 2019, the automotive segment has dominated the material handling robotics market and is estimated to grow at a CAGR of XX% during the forecast period. Material handling robots have played an important role in automobile manufacturing. Various stages of the automotive production procedure can be handled by robotic applications, from engine block assembly, trim, the interior, and door assembly. Automation refers to the usage of machines to complete tasks that had recently been undertaken by humans that diminish the error rate and improve the management of repeatable tasks.
The Asia Pacific dominated the Material Handling Robotics market in 2019.
In 2019, Asia Pacific held the XX% share of the Material Handling Robotics Market and is expected to maintain its dominance during the forecast period owing to the presence of major key players in the region. The low labor costs along with the reduced costs related to transportation are impelling the market growth in the Asia Pacific. China is the leading contributor to the material handling robotics market in APAC. China is estimated to hold the XX% regional market share over the forecast period due to the improving manufacturing and warehousing infrastructure in the country.
Key players operating the global Material Handling Robotics market are ABB Pte Ltd., Adept Technology Inc., Machinery Automation & Robotics Pty Ltd., Daihen Engineering Co Ltd, Denso Wave Inc, Epson America, Inc., Staubli International AG, FANUC CORP, KUKA Robotics Corporation, Kawasaki Robotics Inc., Nachi Robotic Systems Inc., Toshiba Machine Corp., Yaskawa Motoman Robotics, and Apex Automation and Robotics.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Material Handling Robotics Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the Global Material Handling Robotics Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Material Handling Robotics Market positioning of competitors.
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