The price of robot parts will continue to fall

In 2022, affected by supply chain disruptions, chip shortages, rising raw material prices and inflation, the average price of industrial robot parts in major regions of the world has generally increased. The price increase announced by the manufacturer side is about 5% to 7%, but due to the continuous entry of new suppliers into the market at lower prices, as well as the expansion of robot production scale, the scale effect brought by the increase in parts procurement, the average real price increase of the overall parts market is not large.

As global inflationary pressures recede, we expect the downward price trend driven by market competition to accelerate from 2023 onwards. On average, from 2024 to 2027, the average selling price of key components of industrial robots is expected to decline by about 1% per year. Of all the parts types covered in the report, we expect the price of the reducer to decline most significantly, mainly due to more intense competition compared to other parts markets, and the increasing shipments of harmonic reducers with obvious price pressure, dragging down the average price level of the robot reducer.

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The average price of industrial robot parts is expected to decline

The market prospect of non-standard integrated robot is broad

In our research, we note that component suppliers are showing increasing interest in the market for non-standard robots made by machinery and equipment manufacturers (Oems). This kind of non-standard robot is generally homemade for OEM external parts, which is used to integrate in its equipment to complete specific operating steps. Unlike the standard product market represented by traditional robot ontology vendors (such as the “four big families”), the non-standard integrated robot market is an emerging market full of potential business opportunities for robot parts suppliers, mainly because equipment Oems tend to be more flexible in parts selection than traditional robot ontology vendors. For example, the servo system of a non-standard integrated robot usually uses a generic product from an industrial automation vendor, rather than the customized motor and drive required for the robot by the ontology vendor. Therefore, the supply chain of non-standard robots is more open than that of standard robots, which can be said to be a fully competitive market. In contrast to the traditional robot parts market, more than half of the motors and drives are supplied by the robot ontologies themselves, so despite the overall size of the market, it is difficult for external parts suppliers to gain a share.

At the same time, the market demand for non-standard integrated robots has also attracted attention and is expected to grow rapidly. Robots integrated with mechanical equipment have many advantages, such as flexible design of robot movement, easy to control with the equipment, and easier operation, which attract equipment Oems to invest in the development and production of such robots. At present, we observe that most of the non-standard robots on the market are mainly integrated in packaging machinery, but the penetration rate is still very low. As more and more equipment manufacturers in different industries understand the advantages of homemade non-standard robots, we believe that the growth prospects of this market will be very significant for robot parts manufacturers.

The industrial robots and components discussed in Interact Analysis’s Industrial Robot Parts report cover the standard robot market. However, over time, the share of non-standard integrated robots in the traditional market is expected to increase, and we will continue to pay attention to the development of this market.