The market for motors and actuators for industrial robots is forecast to increase dramatically over the next few years, according to a new report.
The market is also set to see “intense competition”, says Technavio, which adds that key vendors are “constantly trying to provide innovative motors and actuators for industrial robot manufacturers”.
In their bid to outdo each other, vendors are said to be providing full-fledged customer services and support, as well as assisting in training the employees to operate the industrial robots.
Vendors are providing customized industrial robots and motors for the end-user applications.
They also hire professionals to test the feasibility of the robots and analyze the products on a timely basis.
There is increased investment by the vendors in research and development to strengthen their product portfolio in the highly competitive environment, says Technavio.
Raghav Bharadwaj Shivaswamy, lead automation analyst from Technavio, says: “The motors and actuators market in industrial robots in China is dominating the global market.
“With the increase in shipment and sales, the global market for motors and actuators is expected to surge from this region.
“The market in other APAC countries like Republic of Korea, Japan, and India will witness a steady growth during the forecast period.
“The developing countries in this region have an increased need for factory automation to leverage their profits and provide better quality products, which augurs well for the growth of the market.”
The key vendors Technavio highlights include:
- Applied Motion Products
- Nippon Pulse
- Schneider Electric