Growth of Robotic Business Incubators Predicted to Augment the Rise of the European Industrial Robotics Market Until 2020, Says Technavio
By Business Wire News
By Business Wire News
According to the latest research study released by Technavio, the European industrial robotics market is expected to record a CAGR of more than 8% until 2020.
This research report titled ‘European Industrial Robotics Market 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for end-user segments, including automotive, food and beverages, industrial machinery, and electrical and electronics.
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“Business incubators in Europe are helping robotic start-up companies get the required funding and professional support. The number of European incubators have therefore significantly increased with a jump of 360% from 2007 to 2014. In the UK and France, most incubators are concentrated around the national capital, and in countries such as Spain and Sweden, these are spread throughout the territory. These incubators provide innovation support to disseminate the technology and competence to robotic ventures across Europe,” said Bharath Kanniappan, one of Technavio’s lead analysts for robotics research.
“Robotdalen, an incubator organization, has introduced industrial robots to over 170 SMEs in Sweden since its establishment in 2003. It draws on local universities to provide students who can work with SMEs to introduce robots. The teams assembled by Robotdalen are helping SMEs take up robots, by looking at their business processes. Robotdalen is a part of the VINNVAXT program, organized by VINNOVA, which is the Swedish government agency that invests in making Swedish SMEs competitive internationally,” added Bharath.
European industrial robotics market by end-users 2015
- Automotive 38.60%
- Food and beverage 27.16%
- Industrial machinery 14.56%
- Electrical and electronics 11.23%
- Others 8.45%
Source: Technavio research
European industrial robotics market in automotive industry: largest segment
The European industrial robotics market in the automotive industry was valued at USD 1.07 billion in 2015. Vehicle manufacturing is the backbone of the European economy, and it produces close to 16.2 million trucks, vans, cars, and buses on a yearly basis and accounts for close to 19% of the global vehicle production. It also forms 4% of Europe’s GDP. The automotive industry is the largest end-user of industrial robots in Europe, wherein welding robots are widely used in arc, spot, and laser welding applications.
European industrial robotics market in food and beverage industry: second largest segment
The European industrial robotics market in the food and beverage industry was valued at USD 755.2 million in 2015. The food and beverage industry is one of the largest industries of Europe, and it comprises more than 305,000 companies who export their products worldwide. The industry is fragmented and diversified with both large and small manufacturers. About 90% of the manufacturers are small and medium-sized, who still rely on manual labor to a large extent. However, the growing prevalence of rigid conformity rules by the food industry commission of Europe and difficulties to access raw materials have compelled manufacturers to improve their food processing systems and throughput time. Such developments have encouraged many to embrace modern technology, including robotics for their daily operations.
European industrial robotics market in industrial machinery industry: third largest segment
The European industrial robotics market in the industrial machinery industry was valued at USD 404.8 million in 2015. The industrial machinery industry plays a significant role in all sectors of the European economy. In this industry, industrial robots are used to shape individual pieces of equipment such as forging, stamping, bending, stamping, welding, forming, and machining. The equipment includes agricultural and food machinery, construction machinery, industrial process machinery, oil and gas equipment, and power transmission equipment.
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