European Industrial Robot Market Expecting Positive Growth Next Four Years

Published by , May 15, 2016 11:50 pm

(BusinessWire) Technavio research analysts are expecting positive growth for the global European industrial robotics market over the next four years. Between 2016 and 2020, many application segments of the market including material handling, welding, assembly/ disassembly, and painting, will see an increase in revenue during the forecast period. “Manufacturers of industrial machinery for industries such as agriculture, construction, and infrastructure development constitute a key end-user segment for the European market,” said Brijesh Kumar Choubey, a lead analyst at Technavio for robotics research.
With close to 16.2 million trucks, vans, cars, and buses entering the European market on a yearly basis, vehicle manufacturing is considered to be the backbone of the European economy. The automotive industry is the largest contributor of the European industrial robotics market and is predicted to reach USD 1.55 billion in 2020. Apart from the automotive segment, the second most sought after end-user of industrial robotics in Europe is the food and beverage industry. The market is expected to reach around USD 1.17 million by the end of 2020.

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