Robot Battery Market to Witness Massive Growth in Years to Come
Updated · May 14, 2023
Published Via 11Press : The most recent market research report on the global Robot battery market that HTF MI has published assesses the risk side analysis, highlights opportunities, and makes use of tactical and strategic decision-making assistance. The analysis offers details on industry trends and advancements, market growth catalysts, technologies, and the evolving Robot Battery industry investment structure.
Robot Battery Industry Background:
The market for robot batteries is expanding quickly due to the rising use of robotics and automation across a variety of sectors, including manufacturing, logistics, healthcare, and defence. Robot batteries are essential for the operation of robots and other autonomous devices because they provide electricity to them. A number of variables, such as the rising need for high-performance batteries with longer lifespan, quicker charging times, and better energy densities, are propelling the market for robot batteries.
The need for more sophisticated batteries with these features is increasing as robot technology advances. The growing need for robotics and automation technologies across a variety of sectors is another factor driving the market. The need for robot batteries is being driven by the desire to increase operational effectiveness, decrease costs, and boost productivity. High price, safety issues, the availability of replacements, and limited lifespan provide challenges to the market. In general, it is anticipated that the market for robot batteries will expand over the upcoming years due to the rising popularity of robotics and automation technologies as well as the need for high-performance batteries to power these devices.
|Unit||Value (USD M)|
|Key Companies Profiled||Panasonic Corporation (Japan), Toshiba Corporation (Japan), Samsung SDI Co. Ltd. (South Korea), LG Chem Ltd. (South Korea), Saft Groupe S.A. (France), GS Yuasa Corporation (Japan), Johnson Controls International plc (Ireland),ABB Group (Switzerland), Tesla, Inc. (United States), Sony Corporation (Japan), Hitachi, Ltd. (Japan), General Electric (United States), Energizer Holdings, Inc. (United States), Duracell Inc. (United States), EnerSys (United States)|
Robot Battery Market Key Business Segments:
- Nickel-Metal Hydride (NiMH) Batteries
- Lithium-Ion (Li-ion) Batteries
- Other Types of Batteries
- Industrial Robots
- Service Robots
- Other Types of Robots
- A biopharmaceutical firm focused on oncology called AVEO Oncology is committed to providing cancer patients with treatments that enhance their quality of life. Announcing the completion of its previously announced purchase of AVEO Oncology (“AVEO”) in an all-cash deal with an implied equity value of $571M on a fully diluted basis, LG Chem, Ltd. (“LG Chem”) on January 19, 2023. The existence of several participants makes the market competitive.
- The company’s primary focus is on technical innovation to extend battery life and reduce manufacturing costs in order to boost profitability and clientele. Companies frequently use mergers, acquisitions, and joint ventures to enter undeveloped markets. The research examines the market’s competitive environment and provides details on a number of suppliers, including: Lithium-ion Batteries, Nickel Metal Hydride Batteries, and Dry Batteries are among the products offered by Panasonic Corporation. Rechargeable lithium-ion batteries are one of the products Toshiba Corporation offers. Among its other products, Samsung SDI Co. Ltd. provides a Small-Sized Li-ion Battery.
Market Growth Drivers:
- Several industries, including manufacturing, automotive, aerospace, and healthcare, are seeing an increase in demand for industrial robots. Industrial robot deployment boosts productivity, operational effectiveness, and safety in production facilities. The need for robot batteries is being driven by the rising demand for robots. Automation is becoming more and more necessary across a range of industrial sectors as Industry 4.0 gains traction. In order to support their activities, robots must have more powerful and effective batteries as they develop in sophistication and intelligence. The deployment of robot batteries is being driven by technological developments in battery development.
- The development of lithium-ion batteries, for example, has increased the energy density and extended the operating time of robot batteries. Governments around the world are supporting the adoption of clean energy technologies, including robot batteries. Incentives such as tax credits and subsidies are encouraging companies to invest in these technologies, driving the growth of the market.
- The cost of robot batteries is still relatively high, particularly for high-performance batteries. This may limit their adoption, particularly for small and medium-sized enterprises with limited budgets. As robots become more advanced, there is an increased risk of accidents and safety concerns. Battery failures, such as overheating and explosions, can pose a significant risk to workers and damage the robot. This can lead to concerns about the safety of the battery technology, and limit its adoption. Most robot batteries have a limited lifespan and must be replaced periodically.
- In example, if the batteries are costly, this may raise the total cost of ownership. Robots can be powered by fuel cells instead of batteries, especially in situations when a longer runtime is necessary. Fuel cells cost more than batteries but provide a higher power output and longer runtime. The deployment of robot batteries in some applications may be constrained by the advancement of fuel cell technology. Therefore, the market expansion is being constrained by the factors of high cost, safety concerns, limited lifespan, and availability of substitutes.
- Smart robots are becoming more common, and they need batteries that can sustain their sophisticated functioning since they include sensors, cameras, and other complex functions. The need for batteries with better energy densities, longer lifespans, and quicker charging capabilities is being driven by this. Robots are increasingly needed in warehouses and distribution centres to increase operational effectiveness and cut costs as e-commerce expands quickly.
- The demand for batteries that can handle the prolonged duration necessary for these applications is being driven by this. The market for energy storage is expanding due to the rising need for renewable energy sources like solar and wind. The market for robot batteries has a chance to develop since energy from renewable sources is increasingly being stored using robot batteries.
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Key highlights of the Global Robot Battery market Study:
- Detailed information on key drivers expected to drive the Robot Battery market in the upcoming years.
- Extensive Information on Changing Consumer Behaviour and Future Trends
- A forecast of the size of the global robot battery market and its share of the parent market, broken down by type, application, and nation.
- A thorough understanding of consumer demand
- A thorough understanding of the market’s competitors and their strategies
- Detailed information on the variables that will hinder the development of Robot Battery players
Transformation and Important Triggers:
Due to the convergence of a number of key factors, such as:
- Significant changes in the technology and cost structure of the Robot Battery Industry
- A turning point in globalisation
- The difficulties posed by regulatory compliance in the Robot Battery Market
- A significant slowdown in developed economies
- The emergence of new forms of competition in the Robot Battery Industry
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