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Market Research Report

Global Refurbished Robots Market Size by Type Of Robots (Articulated, Cartesian, Cylindrical, & Polar), by End-User (Automotive Industry, Electrical/Electronic Industry, Metal And Machinery, Food and Beverage Industry), and By Region With Forecast 2016-2024

Published On : 2018-02-22 Report Page : 280 Category: Industrial Automation

Global Refurbished Robots Market 

Market Overview

Global refurbished robots market is growing significantly parallel to the robotics using industries such as healthcare, manufacturing, packaging, and others. To bridge the skills gap, use of robotics has been increasing worldwide, therefore in 2016, annual sales of robots increased by 16% to 294,312 units. The automotive industry is the major consumer of robots with a share of 35% of the total robots sale in 2016. China, the Republic of Korea, Japan, the United States, and Germany accounts for 74% of the global robots sales volume, with China alone owing 30% robots supply. A smaller company or a company automating for the first time is not willing to spend anywhere from USD 75,000 to USD 100,000 for a new robot, companies like RobotWorx deal with refurbished robots which can be purchased for 50% less than a new model.

Goldstein Research analyst forecast the refurbished robots market to grow parallel to the industrial robots market which is expected to reach USD 34 billion by 2024 from USD 13.1 billion sales in 2016, growing at a CAGR of 12.6% over the forecast years. The number of used robots, technology advancement, and repeatability of robots is impacting the refurbished robots market. As per International Federation of Robotics (IFR), by 2019, more than 1.4 million new industrial robots will be installed in factories around the world. Automation being a competitive factor is essential not only in large industries but also increasingly important for the small and medium-sized enterprises around the world, requiring low-cost robots.

Covered In This Global Refurbished Robots Market Report

The report covers the present ground scenario and the future growth prospects of the refurbished robots market for 2016-2024 along with the import and export data of used and refurbished robots. We calculated the market size and revenue share on the basis of revenue generated from major players and sales of refurbished robots across the globe. In addition, data related to the number of robots used in small or big enterprises and the preferences of the enterprises for the robot types and application are used to forecast the market size.   

Global Refurbished Robots Market Segmentation

By Type of Robots

  • Articulated
  • Cartesian
  • Cylindrical
  • Polar
  • SCARA
  • Delta

By End-User

  • Automotive industry
  • Electrical/Electronic industry
  • Metal and Machinery industry
  • Chemical, Rubber and Plastics industry
  • Food and Beverages industry

Based on Geography

  • North America (U.S. & Canada)  refurbished robots market {Market Share (%), Market Size (USD Billion)}
  • Latin America (Brazil, Mexico, Argentina & Rest of Latin America)  refurbished robots market {Market Share (%), Market Size (USD Billion)}
  • Europe (The U.K., Germany, France, Italy, Hungary, Spain, Poland, Sweden & RoE)  refurbished robots market {Market Share (%), Market Size (USD Billion)}
  • Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia)  refurbished robots market {Market Share (%), Market Size (USD Billion)}
  • Middle East & Africa (GCC, South Africa, North Africa, RoMEA)  refurbished robots market {Market Share (%), Market Size (USD Billion)}

On the basis of end-user, the automotive industry is largely using refurbished robots. The number of industrial robots has reached 103,300 units in 2016, and is expected to increase annually at the rate of 12% per year. In the process of automation in manufacturing, European Union is leading the industrial robots with a growth rate of 14.0% annually (2017-2019). The electrical/electronic industry growth in industrial robots decreased by 3% since 2015 to 28,700 units in 2016.

Refurbished robots market outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the refurbished robots market. The report also includes Porter's five force model, SWOT analysis, company profiling, business strategies of market players and their business models. The global refurbished robots market report also recognizes value chain analysis to understand the cost differentiation to provide a competitive advantage to the existing and new entry players.

Market Trends, Drivers, and Challenges

The robotics companies are implementing IoT concepts into their systems, a new trend to integrate all the sensors and devices on a manufacturing floor to improve their efficiency, reliability and reducing the downtime of robots. For example, ABB, leading power and Automation Company, has placed itself at the heart of IoT technologies in industrial robotics when they became part of the Industrial Internet Consortium in 2014.

According to the report, major driving factor for the growth of refurbished robots market is the growth in the robots supply worldwide, which has increased four-fold since 2009. As the average lifespan of a robot is 8-10 years, there has been an increase in the number of used robots and thus the requirement of refurbished robots is growing as per OEM specifications.

Further, the major challenge for the refurbished robots market is the high adaptation of rental robots that requires no capital investment and no burden at the end of robots life cycle as compared to refurbished robots. Rental robots market is growing at the rate of 13.2%, posing a greater threat to the refurbished robots.

Global Refurbished Robots Market Analysis

Based on geography, Europe has the most advanced industries in terms of automation such as the automotive industry having one industrial robot per 10,000 employees in the top 10 nations of Europe. Thus, the refurbished robots market is bigger in Europe having 64.2% market share. Asia-Pacific has the highest number of robot manufacturers; it proves to be an opportunistic market to become one of the top technological industrial regions, where it sold 80,000 units industrial robots in 2016. North America is also a growing market, seeing huge investments and development in the automotive industry requiring refurbished robots.   

Key Players

Global refurbished robots market report comprises of the following companies as the key players in the refurbished robots market: ABB, KUKA, Scott Technology (robot Worx, Alliance Robotics, Antenen Robotics (Fanuc Corp.), Northline Robot world, Master Robotics LLC, Eurobots, Mahajan Automation, A J Robotics, KC Robotics.   

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Key questions answered in this global refurbished robots market report

  • What is the total market size by 2024 and what would be the expected growth rate?
  • What is the revenue of refurbished robots market in 2015-16 and what would be the expected demand over the forecasted period?
  • What are the key market trends?
  • What are the factors which are driving this market?
  • What are the major barriers to market growth?
  • Who all are the key vendors in this market space?
  • What are the market opportunities for the existing and entry-level players?
  • What are the recent developments and business strategy of the key players?

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Global Refurbished Robots Market Size by Type Of Robots (Articulated, Cartesian, Cylindrical, & Polar), by End-User (Automotive Industry, Electrical/Electronic Industry, Metal And Machinery, Food and Beverage Industry), and By Region With Forecast 2016-2024

A complementary 2hrs free facility through which report buyers can interact with our pool of experienced analysts for any report related queries, clarifications or additional data requirements

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A complementary 2hrs free facility through which report buyers can interact with our pool of experienced analysts for any report related queries, clarifications or additional data requirements