Industrial Equipment & Automation
Manufacturers in the industrial equipment sector design, produce, and assemble a wide variety of products, ranging from small-scale machinery to industrial components and tools for industrial applications. Some of the equipment are industrial robots, material handling equipment, hand tools, forklift, along with several others. Industrial automation is the use of technologies such as computer software and robotics to control machinery and processes which replace human beings in performing specific functions.
Industry 4.0 Transforming Factories for the Future Growth
Industry 4.0 is the 4th industrial revolution where manufacturers are reinventing their business processes with the integration of industrial IoT, cloud connectivity, AI and machine learning technologies. Industry 4.0 offers improved productivity and efficiency, better flexibility and agility, and increased profitability. Industry 4.0 can add significant value across multiple factory processes such as 15-20% in inventory cost reduction, 15-30% increase in labor productivity, 30-50% reduction in downtime, and 10-20% in cost of quality improvement.
Several governments have planned Industry 4.0 to transform their manufacturing sector. Made in China 2025 (China), Industrie 4.0 (Germany), Japan Society 5.0 (Japan) are some of the major plans of the leading manufacturing countries of the world.
Robots Easing Industrial Workload
Industrial automation is the use of control systems, such as computers or robots, and information technologies for handling different processes and machineries in a factory to replace a human being. To achieve industrial automation, manufacturers are integrating their manufacturing process with IoT, robots, and advanced analytics software. In 2022, there were over 550,000 robots installed worldwide which recorded an annual increase of 5% over 2021. Automotive, electrical/electronics, metal & machinery, plastic & chemical products, food & beverage are some of the major industries with high demand for robotic equipment.
Asia – Emerging Leader in Robots Installations
Growth of manufacturing sector in countries such as China, Japan, South Korea, and India is driving the demand for industrial robots in Asia. In 2022, over 400,000 industrial robots were installed in Asia which was approximately 5% higher than 2021. Americas witnessed over 56,000 robotic installations which equated to 8% increase over 2021; whereas Europe accounted for over 84,000 robotic installations, an increase of 2.4% over 2021. The five major markets for industrial robots are China, Japan, the U.S., South Korea, and Germany. These countries accounted for 79% of the total robots installations in the world; in which China alone accounted for 52% of total installations in 2022.
At Intent Market Research, we offer market research reports to assist industrial equipment and automation industry participants in understanding innovations and technological advancements across the industry.