Increase in use of the cartesian robot in consumer electrical and electronics industry is projected to escalate the cartesian robot market at a CAGR of 11.9%
Latest market study on “Global cartesian robot Market to 2027 – Analysis and Forecasts by Axis Type (1-Axis, 2-Axis, 3-Axis, 4-Axis); Industry Verticals (Manufacturing, Automotive, Electrical and Electronics, Food and Beverages, Chemicals and Petrochemicals, Others), The global cartesian robot market is accounted to US$ 5,840.3 Mn in 2018 and is expected to grow at a CAGR of 11.9% during the forecast period 2019 – 2027, to account to US$ 15,007.9 Mn by 2027. The report includes key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.
The Cartesian robot market operates in a highly-competitive marketplace. As leading companies in this market continue to broaden its addressable market, by expanding its current product portfolio, diversifying its client base, and developing new applications and markets, all the prominent players face an increasing level of competition, both from regional players as well as the leading global companies across the world. Companies such as ABB, KUKA AG, Epson, Fanuc, and Yamaha Motor are aggressively investing in next-generation robotics technology.
The electrical & electronics industry is characterized by a high amount of fragility and requires the highest levels of precisions during the manufacturing process. Cut-throat competition in consumer electronics has driven manufacturers to produce the highest quality equipment with lower errors and minimal losses. Volatile consumer electronics markets and dynamic changing demands from consumers have left little or no room for errors for the consumer electronics manufacturers. Therefore, consumer electronics manufacturers look for high precision instruments and processes to be integrated into their manufacturing processes. Further, the rising demand for smartphones, laptops, tablets, smartwatches, and consumer electronic products has intrigued the manufacturing industry to increase its production capacity. According to Moore’s law, the size of the Integrated Circuits (IC) is shrinking in every 2 years, thus felicitating the usage of Cartesian robots to work on nanostructures. Creating circuit boards, inserting parts into injection molding, final assembly applications, CNC processes, and metal stamping are among the processes that are likely to be automated by electronics manufacturers. For effective automation, these processes need great flexibility, speed, and precision through a robot system. However, ROI still acts as a hindrance to the market growth in the electronics industry. With the decreasing prices of Cartesian robots, the market is anticipated to gain pace during the coming years.
The market for the global cartesian robot is concentrated with some very well-established players. Some of the key players in the global cartesian robot market include ABB Ltd., Aerotech Inc., Akribis Systems, Bosch Rexroth AG, Denso Corporation, Epson America Inc., Gudel Group AG, KUKA AG, MKS Instruments Inc., Suruga, and Yamaha Motor Co., Ltd., among others. Several other players are also functioning in the market worldwide, contributing significant revenue shares year on year.
Global Cartesian Robot Market - By Region Breakdown, 2018
