Industrial Robots Power Supply Systems Market REPORT OVERVIEW
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The global industrial robots power supply systems market size was USD 34770 million in 2021 and market is projected to touch USD 75179 million by 2031, at a CAGR of 7.7% 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.
Electricity supply systems for industrial robots are devices or equipment that give electricity to industrial robots. It is a power supply system for the robot motor, which drives the robot arm and other components. Power supply system’s come in the form of inverter power sources, batteries, and accessories. The increasing need for industrial robots in various industries such as manufacturing, food processing, oil & gas, and others is driving market expansion. The global industrial robots power supply systems market can be classified into four segments based on application: manufacturing industry robotics applications, food processing industry robotics applications, oil and gas industry robotics applications, laboratory automation & medical devices, semiconductor & electronics assembly line, textile production line, and other general purpose robotic automation tasks.
COVID-19 Impact: The Pandemic Caused Underlying Malady Upsurge the Market Growth
The COVID-19 epidemic is often regarded as the century's most important worldwide health disaster. The COVID-19 epidemic has led organizations to embrace cloud technologies in order to ease remote working and assure company continuity. The impact of industrial robotics on other industrial sectors around the world is not an exception. As a result of the COVID-19 epidemic, which forced numerous IT companies to close their offices around the world, millions of people now work from home thus replacing the manual work with robotics and artificial intelligence. Because of the current circumstances, businesses now have the opportunity to experiment with remote work.
LATEST TRENDS
"Growing Adoption of Inverter Power Sources is Boosting the Market Sales"
One of the most recent developments that will acquire pace in the industrial robots power supply systems market is the increased use of welding robots in the automobile sectors. The automotive sector is a key user of welding robots, and the industry will rapidly employ spot and arc welding robots in the next years, particularly for applications on chassis constructions that demand high-stress capacities. This, in turn, will affect the demand for inverter power systems, supporting market expansion.
Furthermore, the increasing use of inverter power sources in industrial robots is fueling the growth of this industry. Because of its advantages over typical AC-powered motors used in robotics applications, the inverter power sources segment is predicted to develop at a higher CAGR throughout the forecast period. The segment of inverter power sources accounted for the majority of the robot power sources market. Advantages such as better power efficiency and the availability of new control technology will help this industrial segment thrive in the coming years.
Industrial Robots Power Supply Systems Market SEGMENTATION
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- By Type
Based on type the industrial robots power supply systems market is classified as inverter power sources, batteries and accessories and others.
- By Application
Based on application the industrial robots power supply systems market is classified as manufacturing, food processing, oil and gas industries and others.
DRIVING FACTORS
"The Rapid Growth and Utilization in the Food Processing Will Decipher the Market Share"
The usage of Industrial Robots Power Supply Systems in food preparation reduces the likelihood of contamination while also providing a number of additional advantages. Some of these advantages include enhanced hygiene, increased productivity, and lower labor expenses. Furthermore, the adoption of Industrial Robots Power Supply Systems can aid in the improvement of product quality and efficiency. As a result, it's no wonder that the food processing industry's requirement for Industrial Robots Power Supply Systems is increasing significantly.
"Increased Efficiency and Extensive Utilization in Oil and Gas Industry to Inflate the Market Share"
Industrial Robots Power Supply Systems are increasingly being used in the oil and gas industry. The fundamental reason for this is because these systems are extremely reliable and contribute to increased operational efficiency. They also contribute to lower production costs. They are very simple to maintain and have a lengthy lifespan. As a result, an increasing number of businesses are incorporating them into their operations. This trend is expected to continue, resulting in the worldwide industrial robots power supply systems market growth.
RESTRAINING FACTORS
"Concerns Over the High Installation and Maintenance Cost and Hinder the Market Growth"
The market for industrial robots is expanding rapidly as a result of increased demand from numerous end-use sectors. The widespread use of industrial robots in various industries has increased the demand for power supply systems. However, expensive installation and maintenance expenses are limiting the market's expansion.
Industrial Robots Power Supply Systems Market REGIONAL INSIGHTS
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"North American Region to Lead with Increasing Automation and Advanced Technologies"
North America held a significant revenue share within global markets due to both volume and revenue creation through the implementation of Industrial Robots technology across various major sectors globally, particularly in the United States of America. The global industrial robots power supply systems market share is expanding due to a variety of causes. Among these are rising demand for automation and advanced technologies, increased use of robotics in various industries such as automotive, electrical & electronics, metal & machinery, food processing, and so on, as well as government initiatives to promote innovation in manufacturing processes and the development of smart cities across North America. When it comes to investment potential in Industrial Robots Power Supply Systems, because of its well-developed infrastructure and big pool of trained personnel that can support operations efficiently. Furthermore, the North American region has seen substantial expansion in industrial activity in recent years, which has resulted in an increase in foreign corporations wishing to establish a production base in the country.
KEY INDUSTRY PLAYERS
"Prominent Manufacturers to Contribute Towards Expansion of Market"
The report is an extensive research which presents the historic and futuristic performance of industry with competitive landscape analysis which incorporates prominent key players ,and revenue trends of industry. The report provides substantial analysis of company profiling, growth insights, supply-demand chain, production and consumption demand, business expansion strategies adopted by top key players. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and other factors.
List of Market Players Profiled
- ESAB (U.S.A)
- Fronius International (Austria)
- Lincoln Electric (U.SA)
- Panasonic (Japan)
- Yaskawa Motoman (U.S.A)
- Vertivco (U.S.A)
- Lucas-Nülle (U.A.E)
- OTC Daihen (U.S.A)
- Artesyn (U.S.A)
- KUKA (Germany)
- StorTronics (U.S.A).
REPORT COVERAGE
The report anticipates a detailed analysis of the global market size at the regional and national level, the segmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Analysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 34770 Million in 2021 |
Market Size Value By |
US$ 75179 Million by 2031 |
Growth Rate |
CAGR of 7.7% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the industrial robots power supply systems market expected to touch by 2031?
The global industrial robots power supply systems market is expected to reach USD 75179 million by 2031.
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What CAGR is the industrial robots power supply systems market expected to exhibit by 2031?
The industrial robots power supply systems market is expected to exhibit a CAGR of 7.7% by 2031.
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Which are the driving factors of the industrial robots power supply systems market?
The rapid growth and utilization in food processing with increased efficiency and extensive utilization in oil and gas industry are the driving factors of the industrial robots power supply systems market.
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Which are the top companies functioning in the industrial robots power supply systems market?
ESAB, Fronius International, Lincoln Electric, Panasonic, Yaskawa Motoman, Vertivco, Lucas-Nülle, OTC Daihen, Artesyn, KUKA, StorTronics and others are the top companies functioning in the industrial robots power supply systems market.
