Industrial Robotic Motors Market

Market Overview

The global industrial robotic motors market was valued at USD 829.62 million in 2022. It is estimated to reach USD 2,341.59 million by 2031, growing at a CAGR of 12.22% during the forecast period (2023–2031). In recent years, the surging demand for automation across several industry verticals, which has led to the increasing adoption of industrial robots in these industries, has driven the global industrial robotic motors market. Moreover, the surge in e-commerce has led to increased demand for industrial robots from the logistics and transportation industry, which is further anticipated to augment the market expansion.

Industrial robotic motors are electric devices that transform electrical energy into mechanical energy, enabling the movement of robot arms and wheels. The electric energy is supplied by either a rectifier or a battery. Industrial robotic motors produce speed, enabling a system to make things faster, reduce operational expenses, and eliminate potentially hazardous human duties. Industrial robots commonly utilize several types of motors, such as DC motors, AC motors, servo motors, and stepper motors. The motor selection is contingent upon various criteria, including the robot's ability to carry a load, the desired velocity, the level of accuracy required, and the specific tasks it is intended to execute.

Market Dynamics

Global Industrial Robotic Motors Market Drivers:

Increasing Demand for Automation

The industrial robotic motors market is primarily driven by the widespread adoption of robotic automation in various industries. Robotic automation provides advantages such as enhanced productivity, quality, safety, and flexibility. Multiple industries, including mechanical, chemical, semiconductor, and metal and mining, are progressively embracing industrial robots to improve operational efficiency and competitiveness. The demand for high-performance robotic motors has significantly increased as businesses increasingly use robotic systems for assembly, welding, and material handling operations.

Additionally, the data from the International Federation of Robotics (IFR) reveals a record-breaking number of 517,385 new industrial robots installed in industries worldwide in 2021. The growth rate of robot installation is 31% year-on-year, surpassing the pre-pandemic record of 2018 by 22%. The global inventory of functional robots has reached a new milestone, surpassing around 3.5 million units. Therefore, these statistics demonstrate an increase in the utilization of industrial robots, which in turn enhances the overall growth of the global market.

Increased Adoption of Robots in Logistics and Transportation Applications 

The rapid progress in artificial intelligence (AI), machine learning (ML), and automation will undoubtedly enhance the existing condition of logistics and transportation robotics. Similarly, integrating 5G technology and big data and cloud computing advancements will enhance the robotics business, resulting in increased efficiency, customer focus, and precision. The use of robots in the logistics and transportation sector is being advanced via multiple cooperation.

In March 2021, XPO Logistics announced a cooperation with Balyo to conduct a pilot study. This initiative aims to test Balyo's robotic reach truck and assess its potential to enhance the efficiency of intelligent reach trucks in logistics. The successful implementation of this technology might lead to improved customer efficiency and provide support to staff working in XPO's warehouse. The robot is self-governing and engineered explicitly for utilization in distribution facilities. The surge in e-commerce has heightened the significance of advancements in robotics. With the advancement of robotic system technology, there is a growing need for more advanced motors, leading to a growth in market demand.

Global Industrial Robotic Motors Market Restraint:

High Initial Investment and Lack of Skilled Professionals

While industrial robotic motors offer clear advantages, the substantial upfront cost for their adoption presents a notable limitation. It could be difficult for small and medium-sized businesses (SMEs) to allocate significant financial resources towards automation initiatives. The initial expenses associated with procuring and incorporating robotic systems and the requirement for proficient workers for upkeep impede the extensive use of industrial robotic motors.

Moreover, the need for more proficient labor to operate the industrial robots is a significant obstacle for the industrial robotic motors market. Efficient operation, programming, and maintenance of industrial robots necessitate specialized training and knowledge. The need for more skilled labor can impede the implementation and utilization of industrial robots, particularly in emerging economies. These factors restrict the market growth.

Global Industrial Robotic Motors Market Opportunities:

Technological Advancements in Collaborative Robots (Cobots)

The digitalization process has resulted in integrating industrial and service robots' capabilities, giving rise to a novel type of robot known as collaborative robots (cobots). The advent of cobots presents a favorable opportunity for the industrial robotic motors market. Based on the International Federation of Robotics (IFR), these collaborative robots (cobots) designed to operate alongside humans are expected to have a market value of over USD 1.5 billion by 2026. The progress in cobot technology motivates suppliers to develop new industrial robotic motors, leading to market prospects for these market players.

Furthermore, companies are progressively striving to improve the capabilities of collaborative robots to optimize their performance. For instance, in May 2021, Universal Robots unveiled an enhanced iteration of its UR10e robot. The upgraded collaborative robot will have a higher payload capacity of 12.5 kg, allowing it to do a wider range of tasks such as palletizing, packaging, and machine tending. Moreover, the company maintained the cobot's price unchanged, allowing new users to benefit from enhanced functionalities without extra expenses. This necessitates using advanced motors to assist them in generating opportunities for market expansion.

Regional Analysis

Asia-Pacific Dominates the Global Market

Based on region, the global industrial robotic motors market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

Asia-Pacific is the most significant global industrial robotic motors market shareholder and is expected to expand substantially during the forecast period. The Asia-Pacific region is experiencing the most significant growth in the market for industrial robotic motors, mostly due to the fast-paced industrialization and urbanization occurring in this region. IFR reports that Asia continues to hold the position of being the largest global market for industrial robots. In 2021, Asia-Pacific saw a 4% increase in installing newly deployed robots, accounting for 74% of the total. This is compared to a 70% share in 2020. Moreover, China's dominant role in the industry comes from its status as the world's largest buyer and importer of industrial robots. China is making significant investments in advancing its domestic robot industry and actively encouraging the adoption of robots across multiple sectors. The strategic plan Made in China 2025 is designed to enhance the manufacturing capacity of Chinese industries.

Furthermore, the deployment of the "Intelligent Robots" important special projects is underway to facilitate the rapid advancement of intelligent robot technology in alignment with the "Innovation Chain" needs. The emphasis lies on fundamental state-of-the-art technologies of intelligent robots, next-generation robots, essential shared technologies, indoustrial robots, service robots, and specialized robots. The development objectives seek to foster sustained expansion of the industrial sector. Moreover, China aims to develop at least three prominent firms that possess global competitiveness and establish over five clusters of industries that promote the use of robots. Therefore, according to the data yearbook "World Robotics" published by IFR, China, the largest adopter in the region, experienced significant growth in the installation of robotics. The number of units delivered in 2021 reached 268,195, reflecting a substantial increase of 51%. Likewise, the operating stock in this region surpassed the milestone of one million units, representing a growth of 27%. The significant increase rate signifies the swift pace of robotization in China. All of these factors contribute to the expansion of the regional market.

In North America, the rapid growth can be attributed to the prominent presence of major robot manufacturers and end-users in the region. The United States is the dominant nation in the region due to its robust industrial foundation and extensive utilization of robotic technology. The number of new installations in the United States increased by 14% to reach 34,987 units in 2021. This surpassed the number of units recorded in 2019, which stood at 33,378, before the epidemic. Moreover, the strategic market initiatives implemented by the major companies to augment their market dominance in the robotics industry are also generating prospects for market expansion in this area.

For instance, in October 2023, Rockwell Automation, Inc., the global leader in industrial automation and digital transformation, announced the successful acquisition of Clearpath Robotics Inc., a prominent company based in Ontario, Canada, known for its expertise in autonomous robotics, particularly autonomous mobile robots (AMRs) designed for industrial use. The acquisition encompasses Clearpath Robotics' research section, renowned for its expertise in developing autonomous technology for the innovation market, and the industrial division OTTO Motors, which specializes in providing AMRs, the cutting-edge frontier of industrial automation and transformation. All of these factors contribute to the expansion of the market.

Segmental Analysis

The global industrial robotic motors market is segmented by motor type, robot type, and industry.

Based on motor type, the global industrial robotic motors market is bifurcated into DC motor, AC motor, servo motor, stepper motor, and others. 

A servo motor is a prevalent motor variant employed in industrial robotics for precise control over the positioning of the robot's joints. A rotary actuator is a device that enables accurate manipulation of angular or rotational position, velocity, and acceleration. Servo motors are essential for automating industrial processes, such as robotics, CNC machines, and other applications that demand accurate motion control. These motors offer precise and consistent control over the robot's motion. They may be manipulated to achieve a precise angle or position with exceptional accuracy.

Moreover, it is commonly equipped with feedback mechanisms like encoders or resolvers. These devices offer instantaneous data regarding the motor's position, enabling the control system to modify and rectify any inaccuracies in positioning promptly. The servo motor segment is booming because it is perfect for industrial robots and offers top-notch performance, accuracy, and efficiency.

Based on robot type, the global industrial robotic motors market is segmented into articulated, collaborative, selective compliance assembly robot arm (SCARA), Cartesian/gantry, delta, dual-arm, and other robots. 

The articulated robot industry segment owns the highest market share. An articulated robot is an industrial robot with an articulated arm consisting of several rotational joints. The robot's articulations, which resemble the human arm, enable it to possess a broad spectrum of movement and adaptability. The arm normally comprises many segments interconnected by joints capable of rotating or pivoting. The number of joints in the articulated arm directly influences the robot's degree of freedom. The higher the number of joints, the greater the capacity for multidirectional movement.

Articulated robots have a wide range of capabilities and can be employed in several applications. They are frequently used in welding, painting, assembling, material handling, and other related jobs. The articulated robot is the dominant segment due to its extensive range of motion and ability to execute intricate operations across multiple industries.

Based on industry, the global industrial robotic motors market is divided into automotive, chemical, semiconductor, metal and mining, and others. 

The automobile industry segment dominates the global market. Industrial robotic motors are vital in the automobile sector, enhancing efficiency, accuracy, and automation. These robots equipped with motors are utilized for welding operations in the automotive manufacturing procedure. They can consistently and effectively execute welds, hence guaranteeing structural soundness. Moreover, it is utilized to apply paint to cars, ensuring a consistent and accurate layer, minimizing excess material, and enhancing the overall level of excellence.

Furthermore, motors are employed in industrial robots to manipulate and transport bulky components and parts along the assembly line. This process automation improves productivity and mitigates the potential for injuries related to human labor. These robots are employed in the automobile industry to do end-of-line testing, which involves performing functional tests on different car systems. This ensures that every vehicle complies with safety and performance criteria.

Recent Developments

• May 2023- Mitsubishi Electric Corporation, a prominent player in factory automation systems, invested significantly in Clearpath Robotics, the parent company of OTTO Motors, a leading provider of autonomous mobile robots.

• July 2023- Ati Motors, a manufacturer of autonomous industrial robots, officially concluded its Series A investment round. True Ventures, a prominent venture capital firm based in Silicon Valley that specializes in investing in early-stage technological firms, primarily provided the funding. The total sum raised in this funding round was USD 10.85 million.