A research report on the Robotics Bearings Market has recently been published by Stratview Research. The study's purpose is to recognize recent market sizes for various segments and countries, as well as forecast values for the coming years. This research gives an analytical review of the market’s present trend and future estimates in order to find additional opportunities. The report is meant to provide both qualitative and quantitative aspects of the market in each of the areas and countries studied.

Market Highlights

The Robotics Bearings Market was estimated to grow at a healthy CAGR of 6.0% over the next five years to reach US$ 1.4 Billion in 2026.

What is Robotics?

Robotics and automation are becoming common in a variety of industries, particularly manufacturing, as companies are realizing the full potential of their abilities to save costs, increase production, and improve efficiency and competitiveness. Bearings in automation have seen exponential advances in endurance, speed, and precision as technology has developed, with more sensitive applications in the medical and other high-tech sectors becoming common. Robotics bearings are important in the motion control elements of this technology as they allow highly coordinated, controlled movement on two or more axes.

COVID-19 Impact

Even before the COVID-19 pandemic, the robotics industry was under stress, owing to the reduced demand from the automotive and electrical/electronic industries. Furthermore, the trade conflict between two of the key superpowers, China and the United States, gave a rise to market uncertainties, dampening industry sentiments. The outburst of the COVID-19 further deepened the market challenges. The robotics bearings market typically relies on the organic growth of the robotics industry and usually takes the same path as the latter. Key challenges that arose in front of the industry stakeholders on account of the pandemic were halted production, reduced demands, and supply chain disruptions due to lockdowns.

Although the pandemic and trade war are having an impact on the industry stakeholders and a significant contraction is predicted for the year, they are only a blip on the radar in the long run. The crisis is expected to catalyze digitalization, resulting in growth opportunities for the robotics industry worldwide. In addition, the robotics manufacturing industry is gradually getting back on its track, paired with collective efforts of OEMs and other sectoral stakeholders towards mitigating the risks associated with the COVID-19, is signaling towards healthy and quick recuperation.

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