Vancouver, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The global industrial robotics market size reached USD 42.35 Billion in 2021 and is expected to register a revenue CAGR of 12.3% during the forecast period, according to latest analysis by Emergen Research. Rapid adoption of automation, IIoT, and AI in industrial manufacturing in combination with vision and other sensing systems, which enable robots to execute difficult tasks easily is one of the major factors driving revenue growth of the market. In addition, rapid growth of logistics and supply chain where warehouses and distribution centers are increasing demand for industrial robots owing to high priority for timely delivery as well as efficient and cost-effective manufacturing processes.
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Rising demand for industrial robots by manufacturers for automation of tasks, improved worker safety, and increased overall production output with reduced wastage and cost-extensive operating costs is one of the key factors driving growth of the market. For instance, collaborative robots or Cobots when fitted with dispensing tools can be utilized for applying glue and other adhesives as well as can be fitted with a sanding kit can be utilized for polishing pieces for a bright and smooth finish. According to International Federation of Robotics (IFR), around 486,800 industrial robot units were shipped globally on 2022, which is an increase of 27% compared to previous year. Furthermore, Asia/Australia registered a significant growth rate with an increase in installations by 33%, reaching 354,500 units. The U.S. accounted up to 49,400 units of sale, which is 27% increase and Europe registered 15% growth rate with installation of 78,000 units.
Customization of industrial robots based on operational requirements is driving demand for six-axis robots among manufacturers, as they offer more workspace and can be modified to handle a wide range of production applications. Rising logistics, military, and transportation applications, is leading to a high demand for commercial drones, which is driving growth of the industrial robotics industry. However, industrial robots require highly skilled personnel for complicated programming and maintenance, which is currently limited in availability. In addition, probability of cyberattacks is high owing to integration of IIoT connected devices is a factor restraining growth of the market.
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Scope of Research
| Report Details | Outcome |
| Market Size in 2021 | USD 42.35 Billion |
| CAGR (2022–2030) | 12.3% |
| Revenue Forecast to 2030 | USD 120.31 Billion |
| Base Year for Estimation | 2021 |
| Historical Data | 2019–2020 |
| Forecast Period | 2022–2030 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2022 to 2030 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Type, application, end-user industry, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | ABB, FANUC Corporation, YASKAWA Electric Corporation., DAIHEN Corporation, Mitsubishi Electric Corporation, KUKA, DENSO Corporation, NACHI-FUJIKOSHI CORP, Seiko Epson Corporation, and Panasonic Holdings Corporation |
| Customization Scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
The global industrial robotics market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective industrial robotics applications. Some major players included in the global industrial robotics market report are:
- ABB
- FANUC Corporation
- YASKAWA Electric Corporation.
- DAIHEN Corporation
- Mitsubishi Electric Corporation
- KUKA
- DENSO Corporation
- NACHI-FUJIKOSHI CORP
- Seiko Epson Corporation
- Panasonic Holdings Corporation
Strategic Development
- On 21 June 2021, ABB launched OmniVance FlexArc Compact, which is a new and compact welding application cell with greater flexibility, ease-of-use, and better integration for helping businesses address labor shortages in welding. The small size of equipment enable manufactures optimize space while allowing up to four robots to be added without altering structure of cell, thereby increasing flexibility.
- On 22 June 2022, FANUC America, which is a global leader in Computer Numerical Controls (CNCs), robotics, and ROBOMACHINEs, launched three new variants to its line of SCARA robot models including SR-3 iA/U ceiling mount,SR-6iA/C and SR-3iA/C variants. The new model variants are expected to enhance FANUC’s ability to meet the needs of automation of assembly, pick and place, packaging and inspection processes.
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Some Key Highlights From the Report
- The SCARA robots segment accounted for moderate revenue share in 2021 due to growing need to reduce human efforts and errors in production process. SCARA robots are extensively used for pick-and-place or assembly processes requiring great speed and precision. In comparison, SCARA robot can operate quicker and fulfill optional cleanroom criteria. SCARA robot is suited for applications with a smaller field of action and limited floor space owing to compact design, making it easy to re-allocate in temporary or remote locations. Moreover, provision of mixed-model assembly and customized products, as well as better downstream demand coordination is another factor driving growth of this segment.
- The material handling segment accounted for largest revenue share in 2021 owing to surge in demand for industrial robots from various industries such as food & beverages, electrical & electronics, automotive, and pharmaceutical, among others. Handling and transportation of dangerous chemical for humans is highly increasing demand for industrial robots. Both robotic material handling as well as machine tending systems provide reliable delivery of productivity gains in various applications, which is increasing demand for industrial robotics.
- The electrical & electronics segment accounted for a significant revenue share in 2021. High demand for handling complicated consumer electronics, necessitate higher precision during assembly, which is one of the key factors driving revenue growth of this segment. Industrial robots are ideal for large and small electronics companies, which recognize that automation is the key to being globally competitive. It is essential for the electronics industry to have a robot with a soft and accurate arm to handle small and fragile parts. Industrial robots, such as SCARA robots, can achieve this low inertia and excellent precision while producing at high speeds.
- The Europe market registered a steady growth rate over the forecast period. Growing automotive industry in increasing need for smart factory solutions, which utilizes industrial robots throughout assembly lines and is one the key factors driving revenue growth of the market in region. High demand for upgrading of industrial operation, high-value investments for development of industrial robots, and increasing penetration of 5G in industrial manufacturing as well as IIoT is contributing to growth of the market in Europe.
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Emergen Research has segmented the global industrial robotics market based on type, application, end-user industry, and region:
- Type Outlook (Revenue, USD Billion; 2019-2030)
-
- SCARA robots
- Cartesian robots
- Articulated robots
- Cylindrical robots
- Collaborative robots
- Others
- Application Outlook (Revenue, USD Billion; 2019-2030)
-
- Material handling
- Welding & soldering
- Assembling & disassembling
- Dispensing
- Processing
- Others
- End-User Industry Outlook (Revenue, USD Billion; 2019-2030)
-
- Electrical & electronics
- Automotive
- Plastics, rubber & chemicals
- Food & beverages
- Precision engineering & optics
- Metals & machinery
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
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