Denmark-based Universal Robots (UR) and Taiwan-based Techman Robot - the world's top two collaborative robot (cobot) suppliers - are both optimistic about global demand in 2022.
As countries around the world experience labor shortages due to the COVID-19 pandemic, demand for automation equipment is rising. According to statistics shared by the Japan Robot Association (JARA), orders for industrial robots in Japan have surged by a record 29.6% on year in 2021, with a total shipment value of JPY940.5 billion (US$8.1 billion).
Teradyne, the parent company of UR, experienced a 34% on-year revenue growth in its industrial automation business in 2021. Meanwhile, UR saw its consolidated revenues for 2021 surge by 41% on year and its consolidated revenues for the fourth quarter of 2021 increase by 18% sequentially and 22% on year.
Speaking at an earnings call, Teradyne CEO Mark Jagiela pointed out that the current global market penetration of cobots is only 3%. However, the ongoing labor shortages and increased labor costs have resulted in a growing demand for cobots, he said.
Although the demand for cobots will increase gradually, Teradyne expects its industrial automation business to generate a 35% on-year revenue growth in 2022. It also expects UR to maintain a 35-50% on-year revenue growth every year until 2024.
Jagiela stressed that UR will focus on simplifying cobot setup as engineers specializing in such operation are in short supply.
Meanwhile, Techman chairman Ho Shi-chi said recently that he believes cobot demand in the global manufacturing industry, particularly the semiconductor sector, will continue to rise due to labor shortages caused by low birth rates. As a result, he expects Techman's product shipments to grow by 40-50% on year in 2022.
