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According to the new research report published by The Insight Partners, titled “Rotary Indexer Market Forecast to 2028 – COVID-19 Impact and Global Analysis – By Type (Heavy Duty Rotary Indexer and Light Duty Rotary Indexer), Application (Machine Tools, Semiconductors, Medical Packaging, Automated Welding, Robotics, and Assembly Cutting System), and End-Use Industry (Automotive, Medical & Healthcare, Electronics, Transportation, and Aerospace)”, The global rotary indexer market booming investment prospects in the industrial sector are increasing demand for rotary indexers within the manufacturing industries, which helps drive the rotary indexer market growth.
The rotary indexer market size is expected to grow from US$ 654.90 million in 2021 to US$ 883.96 million by 2028; it is estimated to grow at a CAGR of 4.4% from 2021 to 2028.
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As per the data published by Trading Economics, India’s manufacturing sector accounts for 78% of total industrial output. In addition, government initiatives for propelling the automotive industry are further driving the market dynamics for rotary indexers. For instance, as per the data published by India Brand Equity Foundation, in September 2021, the Indian government approved the Production Linked Incentive (PLI) scheme with an investment of US$ 3.53 billion. Also, in November 2021, the government initiated the Uttar Pradesh Defense Industrial Corridor Project worth US$ 53.73 million in Jhansi.
Government initiatives favoring the development of the automotive sector are supporting the growing vehicle manufacturing in the country, which, in turn, fuels the growth of the rotary indexer market. Indian automotive companies, such as Tata, Mahindra, and several tech startups, are working on automotive vehicle technology, which leads to demand for rotary indexers to reduce the production time of the manufacturers. The total numbers of vehicles produced in India in 2020 were 3,394,446 units, according to the International Organization of Motor Vehicle Manufacturers. The growing vehicle production is driving the growth of the rotary indexer market in the country during the forecast period. Additionally, the country experienced a double rate of industrial robotic installation over the last five years due to growing automation across the manufacturing industries.
Manufacturing industries have been incorporating greater automation levels wherein rotary indexers are used in packaging, labeling, pressing, trimming, bottling, automatic assembly machines, and other applications. Manufacturing of consumer electronics, healthcare-related products, automobiles, and aerospace industries are some of the prominent industry verticals that have been prolific in the automation integrations into manufacturing assembly lines. Thus, the rise in the rotary indexer market is attributed to growth prospects in the manufacturing industry.
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Increasing Prospects in Manufacturing Industries Propelling Market Growth
The manufacturing sector, such as robotics, machine learning, and artificial intelligence, enabled the machines to match or even outpace humans in a range of activities, including the cognitive activities required at various levels of manufacturing. Increased productivity ranges between 10% and 20% when automation is integrated on any lean assembly line. Further, Industry 4.0 is another buzzing trend that is anticipated to take up the manufacturing sector in the coming years. Increasing uptake of rotary indexers has resulted in the rising levels of automation in the manufacturing sector worldwide. However, the emergence of the COVID-19 pandemic in 2020 hampered the business dynamics of the market due to the shutdown of manufacturing industries. Currently, the manufacturing sector is witnessing error-free and streamlined procedures using Robotic Process Automation (RPA). Manufacturing companies are replacing human sources with industrial robots in production units for assembling, quality checking, and packaging the product. The RPA has been integrated into the manufacturing sector for activities such as preparing material bills, administration & reporting, customer support and service desk, data migration, logistics data automation, ERP automation, and Web integrated RPA. Thus, such booming investment prospects in the industrial sector hold potential demand for rotary indexers within the manufacturing industries, which helps drive rotary indexer market growth.
Rotary Indexer Market Application Insights
Based on application, the rotary indexer market is segmented into machine tools, semiconductors, medical packaging, automated welding, robotics, and assembly cutting system. The machine tools segment accounted for the largest market share in 2020 due to its wide application scope in various industries such as metal & mining, manufacturing, aerospace, marine, electricals and electronics, healthcare, and consumer durables. The machine tools application includes lathes, shapers and planers, drilling machines, milling machines, grinders, power saws, boring machines, drilling and tapping machines, sharpeners, gear cutters, machines for glasswork, machines for stonework, and machines for woodwork.
Rotary Indexer Market: Competitive Landscape and Key Developments
Colombo Filippetti S.p.A, Nabtesco Corporation, FIBRO India, Haas Automation, Inc, TUNKERS Maschinenbau GmbH, Goizper Group, Camfield Engineers, Motion Index Drives Inc., Nexen Group, Inc., and Packham Controls are among the key players in the global Rotary Indexer market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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Rotary Indexer Market Type Insights
Based on type, the rotary indexer market is segmented into heavy-duty rotary indexers and light-duty rotary indexers. The heavy-duty rotary indexer segment accounted for a larger market share in 2020 and is expected to grow in the coming years. Its features include durable welded steel housing, precision cam with preloaded cam followers for maximum accuracy, and a preloaded “center rib” design for smooth acceleration and deceleration with precision positioning. It has a robust and compact design which provides a big dial plate and a large center hole. These features enable the heavy-duty rotary indexer for using in heavy-duty rotary dial applications. It is used in various industries such as aerospace, automotive, food and packaging, consumer goods, and life science. Thus, wide scope application in vertical industries is driving the segment’s growth.
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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