Schedule a Call Back
Mobile robot components market worth $7.4 billion by 2027
Industry News- Jun 05,23
A report by Interact Analysis shows Mobile robot component market growth fueled by demand for order fulfillment robots where US currently dominates the mobile robot component market, but China is set to become a strong rival.
New research by Interact Analysis shows the market for mobile robot components is expected to enjoy rapid growth out to 2027, reaching a value of $7.4 billion with a CAGR of 44.8 per cent over the next five years. Regionally, the US currently dominates the market, but China will become a strong rival and is expected to overtake the US in terms of unit sales by 2025, while the US will continue to lead in terms of revenue.
The exponential growth that the market for mobile robots will enjoy is primarily due to demand for order fulfilment robots. Shelf-to-Person (S2P) robots currently dominate revenues due to Amazon’s strong influence on the market. Going forward, the dominance of S2P will continue as other logistics firms, such as Alibaba, mimic Amazon’s strategy. Looking at the market by component type, most types will experience high growth over the forecast period. In particular, that of drivetrain components, which are experiencing an additional boost in revenues due to the impact of supply chain constraints. By 2027, the market for drivetrain components will reach $4.5 billion, partly due to the rapid adoption of mobile robots and partly because of the increase in average selling prices. LiDAR sensors will also dominate the market as navigation sensors become an industry norm.
While China will become a strong growth contender for mobile robot componentry, the US currently dominates the market because of a huge captive market created by the in-house production of Amazon’s AMR/AGV fleet. By 2027, China will account for over 40 per cent of the components market in terms of units, but the US will still dominate revenues. The shift towards Chinese robots and components is a driving factor in global price erosion for the market, particularly for navigation systems. The components market for the rest of APAC is not as large as Interact Analysis initially thought, as the majority of mobile robots used in manufacturing and logistics facilities are sourced from China.
Brianna Jackson, Research Analyst at Interact Analysis, comments, “The growth that we expect to see for navigation componentry is overwhelming. Revenues for this area of the market currently sit at $253m and this will grow at a CAGR of 33.1 per cent to over $1.4 billion by 2027. Much of this revenue growth will be generated by sales of LiDAR sensors due to their higher unit cost compared with other types. In 2021, LiDAR sensors accounted for 65 per cent of revenues for the navigation component market.”
About the Report:
A new report providing insight and in-depth analysis into the components used in mobile robots. The report will complement our deep understanding of the AGV and AMR market to provide mobile robot vendors and automation component suppliers with insight into the market for mobile robot components, which will include the drivetrain, navigation system, battery management, and communication systems.
In this report, Interact Analysis provides detailed market size and forecast data for components in mobile robots by product type, by robot type, and by region.
Related Stories
Electrical & Electronics
Mitsubishi Heavy Industries reports record FY2024; Issues strong FY2025 outlook
Strong performance was led by the Energy Systems segment, particularly Gas Turbine Combined Cycle (GTCC) and Aero Engines, both of which saw substantial demand and improved margins.
Read moreElectrical & Electronics
Exide Industries in battery talks with EV makers
Hyundai is set to become the first Indian automaker to use locally manufactured battery cells for electric vehicles through its agreement with Exide’s subsidiary, Exide Energy Solutions, signed in..
Read moreMaterial Handling Equipment
SafeStorage launches operations in Kolkata
SafeStorage actively manages 12,000+ customer storage units across 20+ warehouses in cities like Bengaluru, Mumbai, Delhi, Hyderabad, Pune, Chennai, and Coimbatore. Known for setting industry benchm..
Read moreRelated Products
Dna of All Information
INDUSTRIAL AUTOMATION & TECHNOLOGY CONSULTANCY
Roto Leaner Technology Pvt Ltd manufactures a complete range of display solutions.
Standard Series Stations and Enclosures
INDUSTRIAL AUTOMATION & TECHNOLOGY CONSULTANCY
Esbee
Industrial Combines/Esbee Electrotech LLP offers standard series stations and
enclosures.
Fire Alarm
INDUSTRIAL AUTOMATION & TECHNOLOGY CONSULTANCY
Safe Zone is prominent traders and suppliers of the industry, offering a wide range of wireless fire alarm.
Read morelatest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
