An articulated robot retains a robotic arm that utilizes rotary joints to function precise movements frequently and consistently. Such robots are extensively used in manufacturing industries for applications such as assembling, material handling, welding, fastening, picking, cutting, painting and spraying, and machine tending.
According to the report analysis, ‘North America Articulated Robots Market by Subsystem, Function, Component, Payload, Industry Vertical, and Country 2015-2026: Growth Opportunity and Business Strategy’ states that the North America articulated robots market to reach USD 5.85 billion by 2026 in terms of robot systems comprising the hardware, software & service, representing a 2019-2026 CAGR of 11.98%. The annual shipment is projected to display a CAGR of 14.72% during the similar period, advancing to 54.26 thousand units during 2026.Some of the foremost factors propelling the market growth include augmenting growth in the investments for automation in several industries, growing requirement from SMEs in developing region and rising requirement for electric vehicles. However, great overall installation cost for low-volume production applications are limiting the market growth.
Amongst End User, the metals and machinery industry is projected to have a lucrative growth throughout the forecast duration due to the increasing requirement for machines in industries, such as agriculture, packaging, and manufacturing, for several applications. The metals and machinery industry has been amongst the adaptable industries for automation solutions. It functions numerous functions varying from small details to higher presentation in complex tasks. By Geography, North America is likely to have a huge requirement during the forecast duration due to the implementation of articulated robots by countries for a myriad of industrial applications. Also, the lower cost of production enables several manufacturers to set up their manufacturing units in North America.
In addition, the significant utilization of articulated robots in the aerospace, oil and gas, and several other industries that commonly produce the large parts by utilizing the articulated robots, has aided the market’s enlargements. Subsequently, articulated robots are utilized to yield in bulk with precision and at a much quicker rate, thus growing the production competence, minimalist human error and effort, and augment the quality of end products.
Furthermore, the modern manufacturing amenities in the North American region have been relying on fresh technologies and innovations to introduce greater quality products at faster speeds with subordinate costs. In order to continue in the current inexpensive scenario, they are accepting more intelligent software and hardware to improve their production capabilities. The Industrial robots such as the articulated robots are delivering the manufacturers around the North America with several prominent and measurable benefits, such as deducted operating costs and augmented the throughput of materials.
Although, the North American region is one of the leading modernizers and pioneers in terms of the acceptance of robotics and is one of the largest markets around the globe. The principal reason for the growth of the market is the snowballing adoption of robots across numerous industries. Therefore, in the near years, it is predicted that the market of articulated robots will increase around the globe more effectively over the upcoming years.
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Ankur Gupta, Head Marketing & Communications