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
Machine Tools & Accessories
Impact of Siemens’ new acquisition on industrial drive market
Siemens’ acquisition of ebm-papst’s industrial drive technology (IDT) business opens up wider global market access for these products, leveraging Siemens’ extensive global sales channels, says..
Read moreSmart Manufacturing
Mercedes-Benz enhancing transportation in factory with wireless solution
Guiding the AGVs effectively relies on good communication between the automated guided vehicles (AGVs) and the factory’s control system. This case study discovers how HMS Networks' wireless expert..
Read moreAutomation & Robotics
Robotics promises big productivity gains in auto industry: GlobalData
In a dynamic era of technological advancement, the automotive industry stands at the precipice of a revolution driven by robotics, as per GlobalData’s new research report, “Robotics in Automotiv..
Read moreRelated Products
Industrial Desalination System
INDUSTRIAL AUTOMATION & TECHNOLOGY CONSULTANCY
Shakunth Aqua Products offers a wide range of industrial desalination system. Read more
Industrial Castors & Wheels
INDUSTRIAL AUTOMATION & TECHNOLOGY CONSULTANCY
H M Gulamali offers a wide range of castors and wheels manufactured by Blickle, Germany. Read more
Foxconn, Nvidia join forces for AI factories revolutionising tech production
INDUSTRIAL AUTOMATION & TECHNOLOGY CONSULTANCY
Taiwanese technology giant Foxconn and leading US hardware company Nvidia revealed their partnership to establish "AI factories," advanced data processing centres geared toward driving the production Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
