SAN FRANCISCO, Oct. 22, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Robot Teach Pendant - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 6; Released: April 2021
Executive Pool: 486
Companies: 15 - Players covered include ABB Group; Comau SpA; DENSO Robotics; Epson America Inc.; FANUC Corporation; Festo AB; Intelitek Inc.; KUKA AG; Mitsubishi Electric Corporation; Nachi Robotic Systems, Inc.; Omron Adept Technologies, Inc.; Seiko Epson Corporation; Staubli International AG; Yaskawa Motoman; YRG Inc. and Others.
Coverage: All major geographies and key segments
Segments: Application (Material Handling, Welding, Painting, Other Applications); End-Use (Automotive Industry, Electrical & Electronics Industry, Metal Industry, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Robot Teach Pendant Market to Reach $229.2 Million by 2026
Amid the COVID-19 crisis, the global market for Robot Teach Pendant estimated at US$163.4 Million in the year 2020, is projected to reach a revised size of US$229.2 Million by 2026, growing at a CAGR of 5.6% over the analysis period. Material Handling, one of the segments analyzed in the report, is projected to record a 6.2% CAGR and reach US$114.3 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Welding segment is readjusted to a revised 5.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $51.9 Million in 2021, While China is Forecast to Reach $40.4 Million by 2026
The Robot Teach Pendant market in the U.S. is estimated at US$51.9 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$40.4 Million by the year 2026 trailing a CAGR of 5.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.4% and 4.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.
Painting Segment to Reach US$40.6 Million by the year 2026
In the global Painting segment, USA, Canada, Japan, China and Europe will drive the 5.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$23.7 Million in the year 2020 will reach a projected size of US$34.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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SOURCE Global Industry Analysts, Inc.