MARKET OUTLOOK
An analysis by Triton Market Research has concluded that the SCARA robots market in Latin America is likely to proliferate at a CAGR of 9.52% in the forecasted period 2019-2028.
Brazil, Mexico and the Rest of Latin America together form the SCARA robots market in Latin America.
Brazil is one of the most dominating countries in the region, both economically and commercially. The country being resourceful, geographically rich and the ever-increasing population in the middle and upper classes is fuelling the consumption of automation in different industries to improve their output.
The regional automation companies are generally partnering with local distributors or agents to enhance their sales performance. The top industries in Brazil include consumer durables, aircraft, steel & petrochemicals and computers. The country had experienced rapid economic growth after the global recession of the year 2008. However, it suffered its most significant financial downturn in the period between 2015 and 2017. The country hopes to leverage the booming robotics to recover.
As per the International Federation of Robotics, robotic imports in Brazil have displayed an upsurge at a 5.3% rate during 2012-2016. The increasing deployment of industrial robots will increase this growth rate further. Different tariffs are applied on the foreign manufactured automation products in order to support the domestic automation companies’ growth. These factors are aiding the growth of the studied market in the estimated period.
COMPETITIVE OUTLOOK
Some of the major players in the SCARA robots market are FANUC Corporation, Seiko Epson Corporation, Kawasaki Heavy Industries Ltd, Comau SpA, Precise Automation Inc, Staubli International AG, Yaskawa Electric Corporation and Nachi Robotics Systems Inc.