Report Overview
-
Request a Free Sample to learn more about this report
The global industrial robot speed reducer market size was valued at USD 3307.68 million in 2021. As per our research, the market is expected to reach USD 6073.93 million by 2028, exhibiting a CAGR expansion of 10.66% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
An industrial robot speed reducer, also known as a gearbox or gear reducer, is a mechanical device used to reduce the speed of a motor or power source and increase its torque output. Industrial robots often require precise control of their movements, and speed reducers play a crucial role in achieving this control. The industrial robot speed reducer market is a segment within the broader industrial automation industry. It focuses on the manufacturing and sale of speed reducers or gearboxes specifically designed for industrial robots. This market has been experiencing growth and innovation in recent years due to the increasing demand for industrial robots in various industries, such as automotive manufacturing, electronics assembly, logistics, and more.
COVID-19 Impact: Market Faced a Fall in Demand Due to Disruptions in Supply Chain During the Pandemic
There was no single sector unaffected by COVID-19. The Industrial robot Speed reducer market was affected as well. The pandemic disrupted global supply chains, leading to delays in the production and delivery of critical components, including speed reducers. Manufacturing facilities faced temporary closures or reduced production capacity due to lockdowns, labor shortages, and logistical challenges. This affected the availability of speed reducers for industrial robots.
Latest Trends
"Integration of Smart and IoT Features to Bring Efficiency in the Market "
The Industrial robot Speed reducer market is as dynamic as any market. In the market, there are everyday developments in the market to add more benefits to it. The integration of IoT (Internet of Things) and smart features into industrial robot speed reducers was gaining traction. This included sensors and monitoring capabilities that provide real-time data on the health and performance of the reducer. Predictive maintenance and remote monitoring were becoming increasingly important.
Segmentation
-
Request a Free Sample to learn more about this report
By Type Analysis
According to type, the market can be segmented into RV Reducers, Harmonic Reducers, Planet Speed Reducers, and Others.
In terms of services, Harmonic Reducers is the largest segment, as it holds the maximum share of the market.
By Application Analysis
Based on application, the market can be divided into Welding Robot, Spray Robot, Stacking Robot, and Others.
Driving Factors
"Automation and Industry 4.0 Adoption has Increased Demand in the Market"
The increasing adoption of automation and Industry 4.0 initiatives across industries is a major driver. As manufacturers seek to improve efficiency, reduce production costs, and enhance quality control, they are investing in industrial robots equipped with advanced speed reducers to achieve these goals. The integration of digital and IoT features into industrial robot speed reducers provides real-time data on their performance. This data can be used for predictive maintenance, optimizing robot operations, and improving overall manufacturing processes.
"E-commerce and Logistics Have Influenced the Demand in the Market"
The growth of e-commerce and the need for efficient logistics and warehousing operations have led to increased demand for automation, including robotics. Speed reducers are integral to the movement and manipulation of goods in logistics and distribution centers. The industrial robot speed reducer market serves a wide range of industries, from automotive and aerospace to healthcare and food processing. The versatility of industrial robots contributes to the market's growth as new applications emerge. This contributes to the Industrial robot Speed reducer market growth.
Restraining Factors
"Economic Uncertainty Could Lead to a Declining Trend in the Market "
Economic downturns or uncertainties can lead to reduced capital expenditures and investment in automation, including industrial robots and their components like speed reducers. Businesses may delay or scale back their automation projects during challenging economic times. As a consequence, there can be a declining trend in the market.
Regional Insights
-
Request a Free Sample to learn more about this report
"North America Region Dominates the Market Has Strong Industrial and Technological Base "
North America has the largest Industrial robot Speed reducer market share as it has a well-established and diverse manufacturing sector, including automotive, aerospace, electronics, and consumer goods industries. These industries have traditionally been early adopters of industrial automation, including industrial robots equipped with speed reducers. North American countries have a history of technological innovation, which extends to the development of advanced industrial robot speed reducers. Many leading global manufacturers of speed reducers are based in North America and continuously invest in research and development to stay at the forefront of technology.
North American industries have a high demand for automation due to factors like labor costs, quality control requirements, and the need for increased production efficiency. Industrial robots with precise speed reducers are essential to meeting these demands. The North American market has seen significant growth in collaborative robotics, which are robots designed to work safely alongside human workers. The integration of advanced speed reducers into these robots is essential for ensuring safety and accuracy in collaborative applications.
Key Industry Players
"Key Players Focus On Quality Assurance and Research and Development For Market Expansion "
Key players invest significantly in research and development to innovate and improve their speed reducer products. This includes advancements in gear design, materials, lubrication, and manufacturing processes. R&D efforts also focus on developing specialized speed reducers for various industrial robot applications, such as high-precision reducers for semiconductor manufacturing or high-torque reducers for heavy-duty tasks. Ensuring the quality and reliability of speed reducers is a top priority. Key players implement strict quality control measures and adhere to international standards and certifications to meet industry requirements. Key players have a global distribution network to supply speed reducers to manufacturers of industrial robots and robotic system integrators worldwide. Distribution channels may include direct sales, distributors, and partnerships with robot manufacturers.
List of Market Players Profile
- Transcyko (Taiwan)
- Harmonic Drive Systems Inc. (Japan)
- Hengfengtai Precision Machinery Co., Ltd (China)
- Nabtesco Corporation (Japan)
- Boston Gear (U.S.)
Report Coverage
The report brings together extensive research on the qualitative and quantitative factors affecting the market. It gives an overall macro and micro view of the online reputation service industry. This research profiles a report with extensive studies on the online reputation management services market that describe the firms affecting the forecasting period. Detailed studies also offer a comprehensive analysis by inspecting factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. Furthermore, the post-COVID-19 pandemic’s effect on international market restrictions and a deep understanding of how the industry will recover and strategies are also stated in the report. Finally, the competitive landscape has also been examined in detail to provide clarification of the competitive landscape.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 3307.68 Million in 2021 |
Market Size Value By |
US$ 6073.93 Million by 2027 |
Growth Rate |
CAGR of 10.66% from 2021 to 2027 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
-
What value is the global Industrial robot Speed reducer market expected to touch by 2027?
The global Industrial robot Speed reducer market is expected to touch USD 6.07 billion by 2027.
-
What CAGR is the Industrial robot Speed reducer industry expected to exhibit during 2021-2027?
The global Industrial robot Speed reducer market is expected to exhibit a CAGR of 10.66% over 2021-2027.
-
What are the factors which help in pushing the market?
Automation and industry 4.0 adoption and E-commerce, and logistics are the driving factors of the market.
-
Which are the key players or most dominating companies functioning in the market?
Transcyko, Harmonic Drive Systems Inc., Hengfengtai Precision Machinery Co., Ltd, Nabtesco Corporation, and Boston Gear are the top companies operating in the market.