LONDON--(EON: Enhanced Online News)--According to the latest market study released by Technavio, the global vacuum generator market for industrial robots is expected to grow at a CAGR of more than 8% during the forecast period.
“Vacuum generators are mainly used in the manufacture and assembly of automotive components. The swiftly growing automotive industry is expected to drive the demand for the market in the forecast period.”
This research report titled ‘Global Vacuum Generator Market for Industrial Robots 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
APAC is the largest regional segment in the vacuum generator market for industrial robots. The region is also forecast to display the maximum incremental growth through 2021, driven by the low-cost manufacturing hubs, which incorporate industrial robots and automation technologies.
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Based on end-users, the report categorizes the global industrial vacuum generator market for industrial robots into the following segments:
- Machine shops
- Aerospace and defense
- Medical devices
The top three revenue-generating end-user segments in the global industrial vacuum generator market for industrial robots are discussed below:
Gaurav Mohindru, one of the lead analysts at Technavio for unit operations research, talks about the use of vacuum generators in the automotive sector. He says, “Vacuum generators are mainly used in the manufacture and assembly of automotive components. The swiftly growing automotive industry is expected to drive the demand for the market in the forecast period.”
The demand for lightweight vehicles is expected to witness a surge, driven primarily by the European and American countries. This surge is expected to create additional demand for precisely cut and assembled metal sheets and components, thus creating a potential demand for vacuum generators to aid in the functioning of robots.
Large-scale production activities at the machine shop level account for generating a large share of the revenue in the global vacuum generator market for industrial robots. The global economy is on an upward trend, and it is estimated that key global nations would sustain their growth path as the world moves towards higher GDP levels. These growth rates are predicted to have an impact on the demand for machinery and encourage machine shops to increase their investments toward setting up new shops or for capacity expansion in existing shops.
Aerospace and defense
“The growing need for advanced weaponry is expected to drive the growth of the aerospace and defense segment of the vacuum generator market for industrial robots. Also, defense budgets are expected to remain relatively stable due to the need to replace or modernize aging aircraft and weapons, which will add significant revenue to the market,” says Gaurav.
The commercial aerospace sector is driven by high replacement rates, growing aircraft size, technological advances, and increase in high-net-worth population. These factors will result in a significant growth of the aerospace industry, creating a huge demand for the global vacuum generators.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Parker Hannifin
- SMC Corporation
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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