Assembly Machine Market to reach $9 billion by 2025
Assembly Machine Market is set to grow from its current market was valued at over USD 6.5 billion in 2018 to USD 9 billion by 2025, according to a new research report by Global Market Insights, Inc.
Enhanced productivity and the ability to facilitate manufacturers an optimal supply chain has propelled assembly machine market size significantly. Both manual and automated assembly lines improve productivity, efficiency and quality of manufacturing while reducing labor costs and cycle time. Major application segments like packaging, aerospace, pharmaceutical, military/defense and electronics have proliferated through the deployment of suitable machines on production lines, stimulating technological development. Government initiatives designed to improve a nation’s economic status will substantial drive assembly machine industry forecast, for instance in India which has initiated ‘Make in India’, an effort to help expand manufacturing businesses in the country. The Indian government is pushing for the share of manufacturing segment to increase up to 25% of GDP by the year 2025 from the 16% in 2018.
With the rise of the IoT, AI, and machine learning technologies, companies are replacing legacy methods, providing an impetus to the assembly machine market growth. They are replacing manual processes with automated solutions, increasing the safety of workers in handling and performing activities. Moreover, the incorporation of robotics technology with these machines is enhancing the overall productivity. Players are increasingly investing in R&D activities to provide advanced machinery with greater reliability and efficiency. The development of the manufacturing sector and the rise in the production of a large quantity of materials in developed markets will support industry growth.
Manufacturers across the globe are focusing on reducing their operating costs and increasing the profitability. The use of fully automatic assembly equipment helps to streamline the production process and allows mass production for manufacturers, reducing manufacturing errors. These machines reduce energy costs due to low heating requirements and provide maximum efficiency in assembly processes. Fully automated processes increase accuracy and productivity in manufacturing operations. These machines are being increasingly adopted for pharmaceuticals or medical device assembly. Manufacturers in the healthcare industry need to follow the federal regulations for producing medical devices. The FDA regulatory in the U.S. directs the industry to ensure the adoption of high-quality standard products for the safety of patients. Companies are offering ISO 9001-2008 certified machines, which help ensure the quality of manufactured products, positively impacting the assembly machine market growth.
Increasing focus on product quality and patient safety from the healthcare sector will drive the assembly machine market share. Manufacturers are implementing these technologies to comply with international hygiene standards and improve the production processes. In the industry, disposable devices are the essential components of all medical, dental, and veterinary practices. The use of disposables increases efficiency, lowers costs, and reduces the spread of infections. In 2018, the U.S. witnessed sales of medical disposables worth USD 50 billion. Moreover, medical devices such as catheters, syringes, inhalers, disposables, and other medical devices, require precise and accurate assembly to operate effectively. The machines help in processing, assembling, testing, inspecting, and packaging these devices without errors. The presence of stringent standards in pharmaceutical and healthcare sectors requires manufacturers to ensure the safety & efficiency of regulated medical devices.
In 2018, Asia Pacific assembly machine market accounted for 40% of the global industry share. The manufacturing sector in countries including China and India is driven by low labor & manufacturing costs, technically skilled workforce, and good infrastructure, encouraging investments from manufacturers. The growth in digitization across the region enables manufacturers to expand and scale their businesses while reducing costs. For instance, in November 2017, the Singapore Government launched the Smart Industry Readiness Index (SIRI), to guide companies in the Industry 4.0 transformation. Similarly, countries such as Thailand and Indonesia have launched their own Industry 4.0 initiatives to improve the quality of manufacturing industries, driving the demand for machines.
The key players operating in the assembly machine market are Bystronic Maschinen AG, EMAG GmbH & Co. KG, Extol, Inc., FANUC Corporation, Gefit Group, Haumiller, Hindustan Automation, Intec Automation, Inc., Isthmus Engineering, Kawasaki Heavy Industries, Ltd., Mondragon Assembly, Norwalt Design Inc., and RNA Automation Limited. These players are offering differentiated and innovative products to sustain in the highly competitive market.