Published: 29 Aug 2019 | Report Code: 10247234 | Pages: 216
GMD predicts the revenue of global pharmaceutical & cosmetics industrial robots market to reach $492.2 million by 2025 in terms of hardware and $1,329.8 million in terms of robotic system (hardware, software & service), growing by over 10% annually over 2019-2025. The annual shipment is expected to exhibit a CAGR of 14.5% during the same period, advancing to 13.48 thousand units in 2025. Highlighted with 43 tables and 90 figures, this 216-page report “Global Pharmaceutical & Cosmetics Industrial Robots Market 2014-2025 by End-user, Application, Product Type and Region” is based on a comprehensive research of the entire global pharmaceutical & cosmetics industrial robots market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report provides historical market data for 2014-2018, revenue estimates for 2019, and forecasts from 2020 till 2025. (Please note: The report will be updated before delivery if necessary, so that the latest historical year is the base year and the forecast covers the next 5-10 years over the base year.) In-depth qualitative analyses include identification and investigation of the following aspects: • Market Structure • Growth Drivers • Restraints and Challenges • Emerging Product Trends & Market Opportunities • Porter’s Fiver Forces The trend and outlook of global market is forecast in optimistic, balanced, and conservative view. The balanced (most likely) projection is used to quantify global pharmaceutical & cosmetics industrial robots market in every aspect of the classification from perspectives of End-user, Application, Product Type, and Region. Based on end user, the global market is segmented into the following sub-markets with annual revenue and unit shipment for 2014-2025 (historical and forecast) included in each section. • Pharmaceutical Industry • Cosmetics Industry Based on application, the global market is segmented into the following sub-markets with annual revenue and unit shipment for 2014-2025 (historical and forecast) included in each section. • Dispensing • Palletizing • Packing & Packaging • Pick and Place • Others Based on robot type, the global market is segmented into the following sub-markets with annual revenue and unit shipment for 2014-2025 (historical and forecast) included in each section. • Articulated robots • Cartesian robots • SCARA robots • Other Robots Geographically, the following regions together with the listed national/local markets are fully investigated: • APAC (Japan, China, South Korea, Australia, India, and Rest of APAC) • Europe (Germany, UK, France, Spain, Italy, Rest of Europe) • North America (U.S. and Canada) • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) • RoW (Saudi Arabia, United Arab Emirates, South Africa) For each of the aforementioned regions and countries, detailed analysis and data for annual revenue are available for 2014-2025. The breakdown of all regional markets by country and split of key national markets by Robot Type and Application over the forecast years are also included. The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players. The report can serve as a guidance to help investors & stockholders identify emerging opportunities, develop appropriate business models, and make wise strategies and decisions. Key Players: ABB Ltd. Comau S.p.A Denso Wave Inc. Epson Robotics Fanuc Corp. Kawasaki Robotics Inc. KUKA (Midea Group) Mitsubishi Electric Corp. Omron Corporation Pari Robotics RoboGroup T.E.K. Ltd. Rockwell Automation Inc. Staubli International AG ST Robotics Toshiba Machine Co., Ltd. Yamaha Robotics Yaskawa Electric Corp. (Please note: The report will be updated before delivery if necessary, so that the latest historical year is the base year and the forecast covers the next 5-10 years over the base year.)
Table Of Contents
1 Introduction 10 1.1 Industry Definition and Report Scope 10 1.2 Research Methodology 12 1.2.1 Overview of Market Research Methodology 12 1.2.2 Market Assumption 13 1.2.3 Secondary Data 13 1.2.4 Primary Data 13 1.2.5 Data Filtration and Model Design 14 1.2.6 Market Size/Share Estimation 15 1.2.7 Research Limitations 16 1.3 Executive Summary 17 2 Market Environment 21 2.1 Prospects for the World Economy in 2012–2020 21 2.2 Outlook of the World Economy to 2030 24 2.3 Outlook of the Global Pharmaceutical & Cosmetics Market 25 3 Market Overview and Qualitative Analysis 30 3.1 Market Structure 30 3.2 Market Overview 31 3.3 Major Growth Drivers 34 3.4 Market Restraints and Challenges 38 3.5 Emerging Opportunities and Market Trends 42 3.6 Porter’s Fiver Forces Analysis 46 3.7 Key M&A Trends and Strategic Partnerships 50 3.8 IPO and VCI in Global Industrial Robot Market 54 4 Segmentation of Global Market by End-user 61 4.1 Market Overview by End-user 61 4.2 Industrial Robots Market in Pharmaceutical Industry 63 4.3 Industrial Robots Market in Cosmetics Industry 66 5 Segmentation of Global Market by Application 68 5.1 Industrial Robots Market in Pharmaceutical & Cosmetics Industry by Application 68 5.2 Dispensing 70 5.3 Palletizing 73 5.4 Packing & Packaging 76 5.5 Pick and Place 79 5.6 Other Applications 81 6 Segmentation of Global Market by Product Type 83 6.1 Industrial Robots Market in Pharmaceutical & Cosmetics Industry by Robot Type 83 6.2 Articulated Robots 85 6.3 Cartesian Robots 89 6.4 SCARA Robots 92 6.5 Other Types of Industrial Robots 95 7 Segmentation of Global Market by Region 99 7.1 Geographic Market Overview 2018-2025 99 7.2 North America Market 2014-2025 103 7.2.1 Overview of North America Market 103 7.2.2 U.S. Market 105 7.2.3 Canadian Market 109 7.3 European Market 2014-2025 112 7.3.1 Overview of European Market 112 7.3.2 Germany 115 7.3.3 UK 118 7.3.4 France 120 7.3.5 Spain 122 7.3.6 Italy 124 7.3.7 Rest of European Market 126 7.4 Asia-Pacific Market 2014-2025 128 7.4.1 Overview of Asia-Pacific Market 128 7.4.2 Japan Market 130 7.4.3 China 133 7.4.4 South Korea 137 7.4.5 India 140 7.4.6 Australia 142 7.4.7 Rest of APAC Region 144 7.5 Latin America Market 2014-2025 145 7.5.1 Overview of Latin America Market 145 7.5.2 Mexico 147 7.5.3 Brazil 150 7.5.4 Argentina 152 7.6 Rest of World Market 2014-2025 154 7.6.1 UAE 156 7.6.2 Saudi Arabia 158 7.6.3 South Africa 160 7.6.4 Other National Markets 162 7.7 Relative Availability of Industrial Robots by Country 2013-2016 163 8 Manufacturing Landscape 166 8.1 Overview of Global Manufacture 166 8.2 Company Profiles 170 RELATED REPORTS AND PRODUCTS 216
:List Of Tables
Table 1. Market Trend of Global Industrial Robots in Pharmaceutical & Cosmetics Industry, 2018-2025 18 Table 2. Average Annual Growth Rates of Global Real GDP, Outlook to 2030 24 Table 3. Main Product Trends and Market Opportunities in Global Pharmaceutical & Cosmetics Industrial Robots Market 42 Table 4. Major M&A Deals of Industrial Robot Industry in January 2019 52 Table 5. U.S. Pharmaceutical & Cosmetics Industrial Robots Market by Robot Type, 2014-2025, $ mn (hardware and software) 107 Table 6. U.S. Pharmaceutical & Cosmetics Industrial Robots Market by Application, 2014-2025, $ mn (hardware and software) 107 Table 7. Canada Pharmaceutical & Cosmetics Industrial Robots Market by Robot Type, 2014-2025, $ mn (hardware and software) 111 Table 8. Canada Pharmaceutical & Cosmetics Industrial Robots Market by Application, 2014-2025, $ mn (hardware and software) 111 Table 9. Germany Pharmaceutical & Cosmetics Industrial Robots Market by Robot Type, 2014-2025, $ mn (hardware and software) 116 Table 10. Germany Pharmaceutical & Cosmetics Industrial Robots Market by Application, 2014-2025, $ mn (hardware and software) 117 Table 11. UK Pharmaceutical & Cosmetics Industrial Robots Market by Robot Type, 2014-2025, $ mn (hardware and software) 119 Table 12. UK Pharmaceutical & Cosmetics Industrial Robots Market by Application, 2014-2025, $ mn (hardware and software) 119 Table 13. France Pharmaceutical & Cosmetics Industrial Robots Market by Robot Type, 2014-2025, $ mn (hardware and software) 121 Table 14. France Pharmaceutical & Cosmetics Industrial Robots Market by Application, 2014-2025, $ mn (hardware and software) 121 Table 15. Spain Pharmaceutical & Cosmetics Industrial Robots Market by Robot Type, 2014-2025, $ mn (hardware and software) 123 Table 16. Spain Pharmaceutical & Cosmetics Industrial Robots Market by Application, 2014-2025, $ mn (hardware and software) 123 Table 17. Italy Pharmaceutical & Cosmetics Industrial Robots Market by Robot Type, 2014-2025, $ mn (hardware and software) 125 Table 18. Italy Pharmaceutical & Cosmetics Industrial Robots Market by Application, 2014-2025, $ mn (hardware and software) 125 Table 19. Japan Pharmaceutical & Cosmetics Industrial Robots Market by Robot Type, 2014-2025, $ mn (hardware and software) 131 Table 20. Japan Pharmaceutical & Cosmetics Industrial Robots Market by Application, 2014-2025, $ mn (hardware and software) 132 Table 21. China Pharmaceutical & Cosmetics Industrial Robots Market by Robot Type, 2014-2025, $ mn (hardware and software) 135 Table 22. China Pharmaceutical & Cosmetics Industrial Robots Market by Application, 2014-2025, $ mn (hardware and software) 136 Table 23. South Korea Pharmaceutical & Cosmetics Industrial Robots Market by Robot Type, 2014-2025, $ mn (hardware and software) 138 Table 24. South Korea Pharmaceutical & Cosmetics Industrial Robots Market by Application, 2014-2025, $ mn (hardware and software) 139 Table 25. India Pharmaceutical & Cosmetics Industrial Robots Market by Robot Type, 2014-2025, $ mn (hardware and software) 141 Table 26. India Pharmaceutical & Cosmetics Industrial Robots Market by Application, 2014-2025, $ mn (hardware and software) 141 Table 27. Australia Pharmaceutical & Cosmetics Industrial Robots Market by Robot Type, 2014-2025, $ mn (hardware and software) 143 Table 28. Australia Pharmaceutical & Cosmetics Industrial Robots Market by Application, 2014-2025, $ mn (hardware and software) 143 Table 29. Mexico Pharmaceutical & Cosmetics Industrial Robots Market by Robot Type, 2014-2025, $ mn (hardware and software) 148 Table 30. Mexico Pharmaceutical & Cosmetics Industrial Robots Market by Application, 2014-2025, $ mn (hardware and software) 149 Table 31. Brazil Pharmaceutical & Cosmetics Industrial Robots Market by Robot Type, 2014-2025, $ mn (hardware and software) 151 Table 32. Brazil Pharmaceutical & Cosmetics Industrial Robots Market by Application, 2014-2025, $ mn (hardware and software) 151 Table 33. Argentina Pharmaceutical & Cosmetics Industrial Robots Market by Robot Type, 2014-2025, $ mn (hardware and software) 153 Table 34. Argentina Pharmaceutical & Cosmetics Industrial Robots Market by Application, 2014-2025, $ mn (hardware and software) 153 Table 35. UAE Pharmaceutical & Cosmetics Industrial Robots Market by Robot Type, 2014-2025, $ mn (hardware and software) 157 Table 36. UAE Pharmaceutical & Cosmetics Industrial Robots Market by Application, 2014-2025, $ mn (hardware and software) 157 Table 37. Saudi Arabia Pharmaceutical & Cosmetics Industrial Robots Market by Robot Type, 2014-2025, $ mn (hardware and software) 159 Table 38. Saudi Arabia Pharmaceutical & Cosmetics Industrial Robots Market by Application, 2014-2025, $ mn (hardware and software) 159 Table 39. South Africa Pharmaceutical & Cosmetics Industrial Robots Market by Robot Type, 2014-2025, $ mn (hardware and software) 161 Table 40. South Africa Pharmaceutical & Cosmetics Industrial Robots Market by Application, 2014-2025, $ mn (hardware and software) 161 Table 41. Top Ten Industrial Robot Manufacturers 169 Table 42. ABB Revenue by Business Division, 2014-2018, $ million 170 Table 43. ABB Revenue by Region, 2016-2018, $ mn 172
:List Of Figures
Figure 1. Research Method Flow Chart 12 Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 15 Figure 3. Global Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2018-2026 17 Figure 4. Recent Growth Trend of World Gross Product, 2012–2020 22 Figure 5. Market Trend of Global Pharmaceutical Industry Revenue, 2014-2025, $ trillion 25 Figure 6. Market Trend of Global Cosmetics Industry Revenue, 2014-2025, $ bn 27 Figure 7. Market Structure of Global Industrial Robots for Pharmaceutical & Cosmetics Industry 30 Figure 8. Global Industrial Robots Market in Pharmaceutical & Cosmetics Industry by Unit Shipment, 2014-2025, thousand units 32 Figure 9. Global Industrial Robots Market in Pharmaceutical & Cosmetics Industry by Sales Revenue (hardware alone), 2014-2025, $ mn 32 Figure 10. Global Industrial Robots Market in Pharmaceutical & Cosmetics Industry by Sales Revenue (hardware and software), 2014-2025, $ mn 33 Figure 11. Primary Drivers and Impact Factors of Global Pharmaceutical & Cosmetics Industrial Robots Market 34 Figure 12. Primary Restraints and Impact Factors of Global Pharmaceutical & Cosmetics Industrial Robots Market 38 Figure 13. Porter’s Fiver Forces Analysis of Global Pharmaceutical & Cosmetics Industrial Robots Market 46 Figure 14. Global Industrial Robots Market in Pharmaceutical & Cosmetics Manufacturing by End-user, 2018 and 2025, thousand units and % of Unit Shipment 62 Figure 15. Global Industrial Robots Market in Pharmaceutical & Cosmetics Manufacturing by End-user, 2018 and 2025, % of Revenue 62 Figure 16. Global Industrial Robot Shipment to Pharmaceutical Industry, 2014-2025, thousand units 65 Figure 17. Global Industrial Robot Sales to Pharmaceutical Industry, 2014-2025, $ mn (hardware and software) 65 Figure 18. Global Industrial Robots Shipment to Cosmetics Industry, 2014-2025, thousand units 67 Figure 19. Global Industrial Robots Sales to Cosmetics Industry, 2014-2025, $ mn (hardware and software) 67 Figure 20. Global Industrial Robots Market in Pharmaceutical & Cosmetics Industry by Application, 2018 and 2025, % of Unit Shipment 69 Figure 21. Global Industrial Robots Market in Pharmaceutical & Cosmetics Industry by Application, 2018 and 2025, % of Revenue 69 Figure 22. Global Market of Industrial Robotics for Dispensing in Pharmaceutical & Cosmetics Industry, 2014-2025, thousand units 72 Figure 23. Global Market of Industrial Robotics for Dispensing in Pharmaceutical & Cosmetics Industry, 2014-2025, $ mn (hardware and software) 72 Figure 24. Global Market of Industrial Robotics for Palletizing in Pharmaceutical & Cosmetics Industry, 2014-2025, thousand units 75 Figure 25. Global Market of Industrial Robotics for Palletizing in Pharmaceutical & Cosmetics Industry, 2014-2025, $ mn (hardware and software) 75 Figure 26. Global Market of Industrial Robotics for Packing & Packaging in Pharmaceutical & Cosmetics Industry, 2014-2025, thousand units 78 Figure 27. Global Market of Industrial Robotics for Packing & Packaging in Pharmaceutical & Cosmetics Industry, 2014-2025, $ mn (hardware and software) 78 Figure 28. Global Market of Industrial Robotics for Pick and Place in Pharmaceutical & Cosmetics Industry, 2014-2025, thousand units 80 Figure 29. Global Market of Industrial Robotics for Pick and Place in Pharmaceutical & Cosmetics Industry, $ mn (hardware and software) 80 Figure 30. Global Market of Industrial Robotics for Other Applications in Pharmaceutical & Cosmetics Industry, 2014-2025, thousand units 82 Figure 31. Global Market of Industrial Robotics for Other Applications in Pharmaceutical & Cosmetics Industry, $ mn (hardware and software) 82 Figure 32. Global Industrial Robots Market in Pharmaceutical & Cosmetics Industry by Robot Type, 2018 and 2025, % of Unit Shipment 84 Figure 33. Global Industrial Robots Market in Pharmaceutical & Cosmetics Industry by Robot Type, 2018 and 2025, % of Revenue 84 Figure 34. Global Articulated Robots Market in Pharmaceutical & Cosmetics Industry by Shipment, 2014-2025, thousand units 87 Figure 35. Global Articulated Robots Market in Pharmaceutical & Cosmetics Industry by Revenue (hardware alone), 2014-2025, $ mn 88 Figure 36. Global Articulated Robots Market in Pharmaceutical & Cosmetics Industry by Revenue (hardware and software), 2014-2025, $ mn 88 Figure 37. Global Cartesian Robots Market in Pharmaceutical & Cosmetics Industry by Shipment, 2014-2025, thousand units 90 Figure 38. Global Cartesian Robots Market in Pharmaceutical & Cosmetics Industry by Revenue (hardware alone), 2014-2025, $ mn 91 Figure 39. Global Cartesian Robots Market in Pharmaceutical & Cosmetics Industry by Revenue (hardware and software), 2014-2025, $ mn 91 Figure 40. Global SCARA Robots Market in Pharmaceutical & Cosmetics Industry by Shipment, 2014-2025, thousand units 93 Figure 41. Global SCARA Robots Market in Pharmaceutical & Cosmetics Industry by Revenue (hardware alone), 2014-2025, $ mn 94 Figure 42. Global SCARA Robots Market in Pharmaceutical & Cosmetics Industry by Revenue (hardware and software), 2014-2025, $ mn 94 Figure 43. Other Types of Industrial Robots in Pharmaceutical & Cosmetics Industry by Shipment, 2014-2025, thousand units 97 Figure 44. Other Types of Industrial Robots in Pharmaceutical & Cosmetics Industry by Revenue (hardware alone), 2014-2025, $ mn 98 Figure 45. Other Types of Industrial Robots in Pharmaceutical & Cosmetics Industry by Revenue (hardware and software), 2014-2025, $ mn 98 Figure 46. Geographic Spread of Worldwide Industrial Robot Market in Pharmaceutical & Cosmetics Industry, 2018 and 2025, % of Shipment 100 Figure 47. Geographic Spread of Worldwide Industrial Robot Market in Pharmaceutical & Cosmetics Industry, 2018 and 2025, % of Revenue 102 Figure 48. North American Industrial Robots Shipment to Pharmaceutical & Cosmetics Industry, 2014-2025, thousand units 104 Figure 49. North American Industrial Robots Sales to Pharmaceutical & Cosmetics Industry, 2014-2025, $ mn (hardware and software) 104 Figure 50. U.S. Industrial Robots Market in Pharmaceutical & Cosmetics Industry, 2014-2025, $ mn (hardware and software) 106 Figure 51. Canada Industrial Robots Market in Pharmaceutical & Cosmetics Industry, 2014-2025, $ mn (hardware and software) 110 Figure 52. European Industrial Robots Market in Pharmaceutical & Cosmetics Industry by Shipment, 2014-2025, thousand units 113 Figure 53. European Industrial Robots Market in Pharmaceutical & Cosmetics Industry by Revenue, 2014-2025, $ mn (hardware and software) 113 Figure 54. Industrial Robots Market in Pharmaceutical & Cosmetics Industry in Germany, 2014-2025, $ mn (hardware and software) 116 Figure 55. Industrial Robots Market in Pharmaceutical & Cosmetics Industry in UK, 2014-2025, $ mn (hardware and software) 118 Figure 56. Industrial Robots Market in Pharmaceutical & Cosmetics Industry in France, 2014-2025, $ mn (hardware and software) 120 Figure 57. Industrial Robots Market in Pharmaceutical & Cosmetics Industry in Spain, 2014-2025, $ mn (hardware and software) 122 Figure 58. Industrial Robots Market in Pharmaceutical & Cosmetics Industry in Italy, 2014-2025, $ mn (hardware and software) 124 Figure 59. Asia-Pacific Industrial Robots Market in Pharmaceutical & Cosmetics Industry by Shipment, 2014-2025, thousand units 129 Figure 60. Asia-Pacific Industrial Robots Market in Pharmaceutical & Cosmetics Industry by Sales Revenue, 2014-2025, $ mn (hardware and software) 129 Figure 61. Japan Industrial Robots Market in Pharmaceutical & Cosmetics Industry, 2014-2025, $ mn (hardware and software) 131 Figure 62. Industrial Robots Market in Pharmaceutical & Cosmetics Industry in China, 2014-2025, $ mn (hardware and software) 135 Figure 63. Industrial Robots Market in Pharmaceutical & Cosmetics Industry in South Korea, 2014-2025, $ mn (hardware and software) 138 Figure 64. Industrial Robots Market in Pharmaceutical & Cosmetics Industry in India, 2014-2025, $ mn (hardware and software) 140 Figure 65. Industrial Robots Market in Pharmaceutical & Cosmetics Industry in Australia, 2014-2025, $ mn (hardware and software) 142 Figure 66. Latin America Industrial Robots Market in Pharmaceutical & Cosmetics Industry by Shipment, 2014-2025, thousand units 146 Figure 67. Latin America Industrial Robots Market in Pharmaceutical & Cosmetics Industry by Sales Revenue, 2014-2025, $ mn (hardware and software) 146 Figure 68. Industrial Robots Market in Pharmaceutical & Cosmetics Industry in Mexico, 2014-2025, $ mn (hardware and software) 148 Figure 69. Industrial Robots Market in Pharmaceutical & Cosmetics Industry in Brazil, 2014-2025, $ mn (hardware and software) 150 Figure 70. Industrial Robots Market in Pharmaceutical & Cosmetics Industry in Argentina, 2014-2025, $ mn (hardware and software) 152 Figure 71. Industrial Robots Market in Pharmaceutical & Cosmetics Industry in Rest of World by Shipment, 2014-2025, thousand units 154 Figure 72. Industrial Robots Market in Pharmaceutical & Cosmetics Industry in Rest of World by Revenue, 2014-2025, $ mn (hardware and software) 155 Figure 73. Industrial Robots Market in Pharmaceutical & Cosmetics Industry in UAE, 2014-2025, $ mn (hardware and software) 156 Figure 74. Industrial Robots Market in Pharmaceutical & Cosmetics Industry in Saudi Arabia, 2014-2025, $ mn (hardware and software) 158 Figure 75. Industrial Robots Market in Pharmaceutical & Cosmetics Industry in South Africa, 2014-2025, $ mn (hardware and software) 160 Figure 76. Industrial Robot Density in Automotive Industry and Other Manufacturing Industries of Selected Countries, 2013 and 2014 163 Figure 77. Industrial Robot Density in Manufacturing Industry by Country, 2016 165 Figure 78. Growth Stage of Global Pharmaceutical & Cosmetics Industrial Robots Industry over the Forecast Period 166 Figure 79. Denso Wave Revenue by Business Segment, 2015, % 178 Figure 80. Denso Wave Revenue by Region in 2014 and 2015, % 179 Figure 81. SEIKO EPSON Revenue by Business Segment, 2014 and 2015, % 181 Figure 82. Revenue, Gross Profit, Operating Income, and Net Income for SEIKO EPSON 2011-2015, $ mn 182 Figure 83. SEIKO EPSON Revenue by Region in 2015, % 182 Figure 84. KUKA Sales Revenues by Business Segment, 2017-2018, million euros 188 Figure 85. KUKA Revenue by Region in 2017-2018, million euros 189 Figure 86. Toshiba Machine Revenue by Business Segment, 2017, % 209 Figure 87. Toshiba Machine Revenue by Region in 2017, % 209 Figure 88. Overview of Yaskawa Financial Information, 2013-2017, million yen 212 Figure 89. Yaskawa Sales Breakdown by Application in 2017-2018, % 214 Figure 90. Yaskawa Robotics Business Revenue by Region in 2018, % 214
Key Players: ABB Ltd. Comau S.p.A Denso Wave Inc. Epson Robotics Fanuc Corp. Kawasaki Robotics Inc. KUKA (Midea Group) Mitsubishi Electric Corp. Omron Corporation Pari Robotics RoboGroup T.E.K. Ltd. Rockwell Automation Inc. Staubli International AG ST Robotics Toshiba Machine Co., Ltd. Yamaha Robotics Yaskawa Electric Corp.