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Harmonic Drives in Robotics Market size was valued $2,376.67 million in 2019, estimated to grow at a CAGR of 14.23% during 2020-2025. The growing need for robots in various application ranging from medical to industrial has enhanced the harmonic drives in robotics market. Moreover, the disruption of healthcare industry due to the extensive usage of medical robots and the need for Strain wave gearing, cycloidal drive and torque transmission are highly benefitting the market growth. The rise in automation in healthcare and industrial sector has raised the need for robots or machinery. Furthermore, the usage of robots for performing operations resulting in scanning vital signs, patient’s pulse and others are fueling the market growth. These key drivers will anticipate the growth of the harmonic drives in robotics market industry during the forecast period.
Application – Segment Analysis
Medical Robots segment held the largest market share in the harmonic drive in robotics market in 2019. The extensive demand for surgical robots and other medical robots for providing assistance to the healthcare professionals during medical procedures are enhancing the growth of the medical robots segment. Also, the rising of Pandemic such as COVID-19 in various countries such as US, Italy, China and so on has raised the demand for the medical robots. These significant factors are thus fuelling the need for medical robots which are further upsurge the growth of the market.
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Geography – Segment Analysis
In 2019, North America dominated the Harmonic Drive in Robotics market with a share of more than 37.23%, followed by APAC and Europe. The rising use of medical robots and industrial robots are further fuelling the market in North America. In the US, Phoenix Children’s Hospital is deploying Medtronic’s Stealth Autoguide platform. This platform robotically assists the neurosurgeons in order to position the instruments accurately during medical procedures. Also, the rising of the Pandemic in the US has also raised the demand for robots which will further accelerate the growth of the harmonic drives in robotics market.
Drivers – Harmonic Drives in Robotics Market
Increasing Adoption of Medical Robots
The rising use of surgical robots which are associated with medical robotics in the healthcare industry is importantly increasing. As, surgical robots are widely employed as an assisting role, that performs activities which are beyond human limit. Nowadays, number of hospitals and clinics are increasingly adopting surgical robots, and is majorly dominated by surgical procedures such as laparoscopic surgery, heart-thorax surgery, orthopedics and trauma surgery. Thus, increasing use of surgical robots for providing significant benefits will raise the need for high precision harmonic drive for robotics.
Rising Need for compact, light and precise robots
As, the need for flexibility in the production is rising which require robots which are collaborative and small in size. Moreover, industries are mostly adopting cobots or small robots for providing more flexibility to the production. Thus, this has also developed the need for actuators and gear which should have compactness, low-weight, precision and maximum performance that can be used in complex robotics. Thus, the growing demand for compact, light and precise robots will further drive the harmonic drive in robotics market.
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Challenges – Harmonic Drive in Robotics Market
Lack of Skill & High Cost of Implementation
Robots are commonly being used in several industries including medical, industrial, service and so on. But, the major challenges which is hindering the increasing implementation of robotics is the cost and lack of skilled employees operating the robots. The investment on industrial robots are quite large which leads to hinder the use of robots and moreover, the requirement of knowledgeable employees also causes a major impact on the use of robotics in certain fields. As, the implementation of robotics require a new level of expertise in order to operate in new environment which requires the need for certified employees in organizations. These challenges further impact the growth of the harmonic drive in the robotics market.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Harmonic Drives in Robotics market. In 2019, the market for Harmonic Drives in Robotics top 10 companies were – Harmonic Drive Systems Inc., LeaderDrive, Zhejiang Laifual, Beijing CTKM Harmonic Drive, Cone Drive, Nidec Shimpo, DongGuan BanRin Robot Technology CO.,LTD, Rozum Robotics, Harmonic Drive AG and Harmonic Drive LLC.
In September 2019, Harmonic Drive LLC announced the launch of new gear with large hollow bore. This new harmonic drive gear is featured with a hollow shaft which is ideal for robots and machines that requires complex cabling. This new series is flat and thus, pancake style gear unit.
In 2018, Harmonic Drive LLC announced its FLA series of super flat actuators. This new super flat actuators are used in robotics, and are combined with high precision reducers with compact size, high-output brushless DC motor.
In 2019, the harmonic drives in robotics market was dominated by North America owing to increasing adoption of medical robots for performing surgical and other medical procedures in the healthcare industry.
The increasing need for compact, light-weight and precise robots for industrial purposes and for service has also enhanced the growth of the market.
The rise of Novel Coronavirus has also resulted in the extensive demand for medical robots in order to treat patients safely which will further propel the demand for the harmonics drive in robotics market.
The major drawback that is hampering the growth of the market is the high cost of implementation and lack of skilled employees to perform extensive operations.
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