Heavy Machinery and Robotics Markets Expect Steady Growth
Analysts from Research and Markets forecast that the global industrial robotics market in the heavy machinery industry will grow at a compound annual growth rate (CAGR) of 5.67% from 2012 to 2016.
One of the main factors contributing to this market growth is the need to optimize total cost of ownership. The sector has also been witnessing increasing demand for customized industrial robots. However, continuous declines in vendor profit margins could challenge this growth.
Another key trend in this market is increasing demand for customized industrial robots for use in the heavy machinery industry. Currently, companies across industries are becoming aware of different automation solutions that would help them enhance productivity. Moreover, as companies expand, their manufacturing processes are becoming more complicated, and, the report predicts, they need specific, customized robotic solutions well-suited to their operations.
Some market vendors have started to provide customized robotics to meet specific application requirements to enhance operational productivity.
According to the report, "Global Industrial Robotics Market in the Heavy Machinery Industry 2012-2016," though deployment of industrial robots in the heavy machinery industry requires high initial investment, it provides a high return on investment in a short period of time.