Industrial Robotic Motors Market Size to be worth US$ 2.7 Bn by 2029: Future Market Insights

In 2022, sales in the global market for industrial robotic motors are anticipated to reach US$ 1.1 billion. The market is anticipated to grow at a healthy 13.4% CAGR and reach US$ 2.7 Bn by 2029.

The global industrial robotic motors market is expected to grow significantly over the forecast period, owing to a number of driving factors such as high demand for robots across end-use industries, rapid growth of automation, and implementation of global energy-efficient norms, according to the report’s findings.

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The global industrial robotic motors market was valued at ~US$ 1.1 Bn in 2022, and is projected to increase at a CAGR of ~ 13.4% during the forecast period. This growth is significantly driven by the progressing automation in factories, installation of robots in a wide spectrum of service applications including healthcare, agriculture and defense, and implementation of modern robotic solutions.

The ongoing need for non-delay operations in a number of industries, in the view of rising product demand and shrinking workforce, has led to an incessant rise in the adoption of robotic technology, and the result is likely to lead to an increased demand for industrial robotic motors, according to the FMI analyst.

East Asia Continues to Offer Considerable Growth Opportunities

Growth prospects of the industrial robotic motors market are high in East Asia. The market in China has particularly been on a significant rise, owing to the fact that the robots are being incorporated in solutions as well as services. Substantial growth of the robot industry has been an eminent factor in the enhancement of industrial robotic motors in different sectors for South Korea. The rapid decrease in the workforce and the restricted influx of immigrants provide a strong incentive for robotics in Japan.

The inclination of these countries toward industrial robotic motors, fueled by major technology developments, is amplifying the market. In terms of growth, South Asia & Pacific region is estimated to project maximum growth rate in the coming years, owing to rapidly increasing automation in several manufacturing industries actively operating in the developing countries.

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Market Growth Underpinned by Rapid Adoption of Robotics Across Numerous Industrial Sectors

The global industrial robotic motors market has been segmented based on the different types of Motor, Robots, Fit type, and regions such as East Asia, South Asia Pacific, Europe and Middle East & Africa and the Americas.

Servo motor, under the motor category is expected to have the paramount share of market in the upcoming years. The segmental growth is followed by DC and stepper motors for handling certain procedures including pick and place where accuracy is not a prior parameter taken into consideration in the manufacturing operation.
Based on robot, articulated robot is expected to account for a prominent share of the global industrial robotic motors market. This line of growth is followed by SCARA, Cartesian/Gantry, Dual arm, Collaborative and Delta robots respectively which are expected to have a fair portion in the market development.
Based on fit type, first fit segment is expected to have a dominant share in the industrial robotic motors, owing to increasing rate of new installation of robots across the globe. The estimated life span of a motor used in industrial robots is around 5 years, therefore retro fit segment, is expected to account for a minimal in the market.

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Industrial Robotic Motors Market: Vendor Insights

The report highlights some of the prominent market players, who have established themselves as leaders in the global industrial robotic motors market. Few examples of key players in the market are Nidec Corporation, FAULHABER Group, PMDM Group, HDD, Aurotek Corporation, Kollmorgen, Fanuc Corporation, ABB Group and Kawasaki Heavy Industries among others.

The global industrial robotic motors market is considerably dominated by prominent market participants. These players are indulging into strategic collaborations, alliances, mergers and acquisitions. For instance, Nidec Corporation announced its establishment to form a joint venture to manufacture automotive traction motors with a subsidiary of China-based Guangzhou Automobile Group Company.

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Industrial Robotic Motors Market By Category

Motor Type: