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CAGR of 6% Projected For Market For Components Used In Industrial Robots To 2025

Industrial Automation

December 2021

Tim Dawson

Senior Research Director

Tim is the Senior Research Director and Principal Analyst for IA’s Industrial Automation team. He uses his 20+ year experience to develop best-in-class research for the manufacturing sector and is a frequent speaker on all things research at conferences and industry trade shows across the country.

Interact Analysis have recently published a new market report providing insight and analysis into components in the industrial robot market.

The below infographic demonstrates some of our key findings.

The infographic is also available to download in PDF here

Components In Industrial Robots Infographic

Components In Industrial Robots Infographic

– The global market for components used in industrial and collaborative robots was estimated to be worth $7bn in 2020, and forecast to be worth in excess of $9.3bn by 2025.

– End effectors represented the single largest component market, worth just over $1.8 billion in 2020. The market will grow at an above average rate and will be worth in excess of $2.5 billion by 2025.

– Despite a trendline towards a reduction in price of key components used in robots; for 2021, most key components have experienced price increases in the range of 2%-4%, but like-for-like component pricing has increased by more like 4-6%.

– Semiconductor shortages, higher shipping costs, raw material price increases and general inflationary pressure have caused these increases.

– Servo motors used in industrial robots was worth just under $900 million in 2020, but by 2025 the market opportunity is projected to grow to nearly $1.2 billion.

– Compared with Japan and China, the revenue opportunity for components in other regions of the world remains small. In 2020 Japan = 47%, China = 27%, Rest of the world = 26%. In 2025 Japan = 43%, China = 32%, Rest of the world = 25%.

– Motors, drives and gearboxes combined will exceed the value of the end effector market-although a much higher proportion of the drives and motors market is considered “captive.”