As per Future Market Insights, the robot pedestal market is anticipated to attain a value pool of US 20 Billion by 2023-end. Global demand for robot pedestals is expected to rise at a CAGR of 10.6% to US$ 55 Billion in 2033.
Due to rising demand, a huge number of investments have been recorded in the robotics area. According to the International Federation of Robotics' World Robotics report, investments in new automobile production capabilities and industrial space modernization will drive demand for robots further driving the demand for robot pedestals during the forecast period.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 20 Billion |
| Projected Market Value in 2033 | US$ 55 Billion |
| Growth Rate (2023 to 2033) | 10.6% CAGR |
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Robotics technology has been embraced by a variety of industries, including automotive, healthcare, military, and aerospace, for process automation and effective resource management. Because of the region's leading automobile sector and low-cost production units, industrial robots are widely deployed. The rapid expansion of small and medium-sized companies across the Asia Pacific is driving significant demand in the robot pedestal industry in the next years. Asia-Pacific is the world's fastest-growing nations such as India, China, Taiwan, and South Korea emerging as regional leaders. Leading vendors, such as ABB and KUKA, are establishing the region as the foundation of their operations.
Government laws and finances have enabled infrastructure improvement programs. Because of these factors, APAC has become the preferred automobile production center, which will boost the robot pedestal market. Nations such as China and India are the most developed in Asia-Pacific, and numerous sectors like as automotive, electronics, and aviation are building factories in these countries, boosting demand for the robot pedestal market and transforming Asia-Pacific into a growing area.
With the increasing expansion of the automotive sector, there has been a surge in the need for industrial robots to simplify complicated manufacturing processes, which is one of the primary drivers driving robot pedestal market growth. Robot pedestals assist to improve quality and working capacity at cheaper prices, which supports industry growth. Rising employee safety concerns as a result of increased incidences of injury, manual mistakes, and accidents caused by working in hazardous settings in the automotive manufacturing business are serving as a growth-inducing factor.
This is encouraged by large funding and several positive initiatives performed by government agencies in various nations to include new gadgets and technology to assure worker security while satisfying safety requirements. Significant technological breakthroughs, such as the integration of the Internet of Things (IoT), cloud solutions, and autonomous intelligent vehicles (AIVs) for securely transporting components and materials from one location to another, are adding to market expansion.
According to latest research estimates, Robot Pedestal Market is set to witness healthy growth during 2021 to 2031 with a projected CAGR of 8 to 9%. Demand for Robot Pedestal will witness steady recovery in short-term, with optimistic growth outlook in the long-run.
Growing demand from automotive industry is expected to extend the product opportunities in coming years, however, sales in this sector will provide momentum.
Principal Consultant
The robotic pedestal is standard capital equipment and are required in today’s high
technology manufacturing companies. Which is considered as a primary force driving the demand of the product. Its highly flexible infrastructure, compact design and cost effectiveness is propelling its demand in various end use industries. Also, the customized model provided by the manufacturers is driving the market growth of robotic pedestal to meet the workspace requirements.
Each robot usually requires its own custom manufactured robot pedestal, custom built to size and strength in order to ensure immobility while firmly supporting the robot and hence should be well designed for operative loads and dynamic loads which is offering plenty of opportunities for the market growth of robot pedestal.
The market is projected to grow with a significant CAGR owing to its rising applications and demand from industrial world.
The increasing fields of application and product development provides numerous opportunities for the market growth. Manufacturers are strongly focused on designing sturdy models by using best material to ensure durability and stability for a longer time and are implementing the advanced technology in terms of its functionality which will ensure a safe and secure work environment.
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USA is a mature market with the world's largest suppliers with comprehensive know-how and with advanced technology. The suppliers in USA can thus develop optimal solutions for potential end-users. The suppliers not only specialize in the machines and systems but also provide the pre-sale activities and after sales service to achieve strong customer base.
The presence of key market participants in the USA country, is likely favoring the market demand. A high level of technological competence in the field of automation combined with government investments to boost small scale production and upheave the industrial production, is providing momentum for market growth of in USA robot pedestal market.
The automotive industry in the United States experienced a sharp drop in demand amid the outbreak of COVID-19 in 2020 which is projected to affect the targeted market in the same year and is expected to recover later over the period of 2021 to 2031.
Demand from Automotive and Consumer Appliances industry incorporated pedestal robot based assembly units is expected to augment the market growth. With the nation known to have high index of robot installed fleet and mechanization rate in industrial sector, the target market growth is also expected to be benefited in the upcoming years.
Some of the leading manufacturers and suppliers include
The common trends among suppliers is that they engage into contract manufacturing with system developers, component integrators and assembly solution providers. These contracts help to provide value in the supply chain and deliver greater benefits to the end-user as well as supplier.
For instance, manufacturers are on the verge of designing fully automated models with a highly flexible infrastructure in terms of its functionality, durability and efficiency. Along with the technical advantage manufacturers are striving to make it cost effective and budget friendly to meet the needs of manufacturers.
Manufacturers are focused to make the pedestal strong enough, but making it stiff enough can be a real challenging design problem, hence key players are making efforts to overcome this challenge and to sand out with their skills, knowledge, tools and expertise to get it right and fast.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Robot Pedestal Market
