Mobile Collaborative Robots Market to Reach $6,827 Million by 2030

NEW YORK, Sept. 14, 2020 -- In the automotive industry, the use of mobile collaborative robots (cobots) enhances the output quality and makes the production process standardized. Additionally, such cobots perform a wide range of tasks, including material handling, welding, and assembling, more efficiently. This is one of the primary reasons because of which the global mobile collaborative robots market, which generated $543.3 million in 2019, would grow at a 26.3% CAGR between 2020 and 2030, to reach $6,827.0 million by 2030, according to the market research report published by P&S Intelligence.

China, the U.S., Germany, South Korea, and numerous other developing as well as developed nations have a strong presence of many globally operating automakers, which are focusing on increasing the level of automation in their factories. These companies are rapidly procuring mobile cobots, especially for two-wheeler production lines, which require extensive labor and high-precision machines.

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The effects of the ongoing coronavirus pandemic have been quite negative on the industry, as the ceasing of the industrial activity in China has disrupted the supply of mobile cobots' components and raw materials. This has, in turn, led to the stoppage of cobot manufacturing, thereby halting the shipment of the final product to end users. Even the end users have been hit hard by the lockdown in their countries, and with the shutting down of their factories and declining focus on industrial automation, for the time being, the demand for mobile cobots has come down.

In the coming years, services will be the fastest growing category in the industry, on the basis of offering, witnessing a 28.1% CAGR. This is attributed to the rising demand for consulting, integration, deployment, and maintenance services for mobile cobots and aftermarket components, as the focus of companies on procuring these platforms, for automating their production process, increases.

In 2019, the highest revenue in the industry was generated by the material handling classification, based on application. This was because of the increasing deployment of mobile cobots in the electronics, automotive, healthcare, and many other industries for material handling tasks, which are repetitive in nature.

The deployment rate of mobile cobots has been the highest in the Asia-Pacific (APAC) region so far, and the situation is not expected to change in the future. This is ascribed to the booming regional population, which is resulting in the growing demand for consumer electronics and automobiles. Presently, the rising popularity of electric vehicles (EV) is driving the APAC automotive sector, especially in Japan and China, where the government support for their adoption is quite strong.

In a bid to expand their presence among end users and consolidate their position in the industry, companies are comping up with new and advanced mobile cobots.

For instance, Robotnik Automation S.L.L. launched the 16 kg-payload RB-KAIROS 16 omnidirectional autonomous mobile robot in November 2019. Designed for pick & place, screwing, quality control, drilling, and many more operations, it is integrated with the UR-16 manipulator developed by Universal Robots A/S.

The key companies in the global mobile collaborative robots market are Aubo Robotics Inc., Teradyne Inc., Kawasaki Heavy Industries Ltd., FANUC Corporation, Fetch Robotics Inc., Yaskawa Electric Corporation, Bosch Rexroth AG, OMRON Corporation, ABB Ltd., Doosan Corporation, and KUKA AG.

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

Prajneesh Kumar
P&S Intelligence
Contact: +1-347-960-6455

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