New York, United States, Jan. 22, 2024 (GLOBE NEWSWIRE) -- The Global Industrial Robotics Market Size is To Grow from USD 17.5 Billion in 2022 to USD 65.7 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 14.1% during the projected period.
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Large, heavy robots are placed in fixed positions within an industrial plant, and all other worker tasks and processes revolve around them. These robots aid in increasing productivity while lowering costs and producing high-quality goods in automation applications. Drives, end-effectors, robotic manipulators, sensors, and controls comprise the vast majority of robots. The robotic controller is the robot's brain that aids in command delivery. Sensors, microphones, and cameras are used in robots to keep them aware of their surroundings. Industrial robots are in high demand across many industries, including automotive, pharmaceuticals, consumer electronics, packaging, and machinery. This requirement, on the other hand, is based on the type of robot that they must install throughout their facilities in order to harness industrial activity and reduce costs. Additionally, Industry 4.0 accelerated the development of new technologies such as AI-enabled robots and collaborative robots, allowing industries to use robots to simplify various processes, increase productivity, and reduce errors.
COVID-19 Impact
The COVID-19 pandemic had a significant impact on market growth. Following the outbreak, there has been an increase in demand for automated systems and robots, which has created new market opportunities. As the robots require little to no human interaction, the risk of virus transmission remained low. In addition, following the unexpected shutdowns caused by the pandemic, industries increased their automation plans for the future, driving the market for industrial robotics.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Industrial Robotics Market Size, Share, and COVID-19 Impact Analysis, By Type (Articulated, Traditional Robots, Collaborative Robots, Cartesian, Others), By Payload (Heavy Payload, Light Payload), By Application (Handling, Welding & Soldering ,Assembling & Disassembling, Dispensing, Processing, Cleanrooms, Others) By End-User (Automotive, Electrical & Electronics, Metals & Machinery, Chemicals & Petrochemical, Plastics & Rubbers, Food & Beverages, Precision Engineering & Optics, Oil & Gas, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The articulated segment dominates the market with the largest revenue share over the forecast period.
Based on type, the global industrial robotics market is segmented into articulated, traditional robots, collaborative robots, cartesian, and others. Among these, the articulated segment is dominating the market with the largest revenue share over the forecast period. Articulated robots are highly adaptable and capable of performing a wide range of tasks. They can be easily reprogrammed and can perform complex movements. As a result, they are suitable for use in a wide range of industries, including manufacturing, assembly, and logistics.
The heavy payload segment is witnessing significant CAGR growth over the forecast period.
Based on payload, the global paper cup market is segmented into heavy payload and light payload. Among these, the heavy payload segment is witnessing significant CAGR growth over the forecast period. Heavy-payload industrial robots are also widely used in the pharmaceutical and cosmetics industries for assembling and packaging medical devices, as well as blood sample testing. Growing demand for machines in the agriculture, packaging, and manufacturing sectors is expected to drive demand for industrial robots with heavy payloads in the metals and machinery industry during the forecast period.
The electrical & electronics segment is expected to hold the largest share of the global industrial robotics market during the forecast period.
Based on the end-user, the global Industrial Robotics market is classified into automotive, electrical & electronics, metals & machinery, chemicals & petrochemical, plastics & rubbers, food & beverages, precision engineering & optics, oil & gas, and others. Among these, the electrical & electronics segment is expected to hold the largest share of the industrial robotics market during the forecast period. Since its ability to perform a variety of tasks with high repeatability, such as dispensing, insertion, labeling, and screw driving, this segment is driving the industrial robotics market. Innovations, as well as increased R&D efforts by market players to improve productivity, cost-efficiency, and low manufacturing expenses, will drive increased adoption of such industrial robots.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific will hold the largest market share over the forecast period. Rising automation, especially in Japan, China, and India, is expected to fuel Asia Pacific growth. Furthermore, as the population and disposable income of people increase, so does the demand for consumer goods and other items, resulting in increased production capacity, which contributes to the growth of the industry. Similarly, there is a growing demand for customized machinery and automobiles, necessitating high precision and rapid production capacity. As consumers become more aware of the benefits of sustainable packaging solutions, Europe is expected to grow significantly. Furthermore, the region's strict government regulations aimed at reducing the use of plastic packaging are likely to benefit the industry. North America is expected to grow significantly as the global industrial robotics market is fueled by the implementation of smart factories and Industry 4.0, resulting in increased demand for customized and small robotic systems. Furthermore, as the manufacturing process is sped up and production capacity is increased, manufacturers see a quick return on investment (ROI).
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Industrial Robotics market include Siemens, ABB Group, Schneider Electric, Rockwell Automation, Emerson Electric, Mitsubishi Electric, Fanuc Corporation, Yaskawa Electric Corporation, Bosch Rexroth, Caterpillar Inc., Komatsu Ltd., Atlas Copco, IRS Robotics, Hyundai Robotics, Saisun Robotics, RobotWorx, Rethink Robotics GmbH, Techman Robot Inc., Universal Robots, Kawasaki Heavy Industries and among others.
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Recent Developments
- In November 2022, The Institute of Light Materials and Technologies developed a new aluminum alloy for additive technologies, which RUSAL launched. This new alloy has a coefficient of thermal expansion (CTE) that is 1.5 times lower than traditional aluminum alloys, matching the CTE of steels and nickel alloys.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the global Industrial Robotics market based on the below-mentioned segments:
Industrial Robotics Market, Type Analysis
- Articulated
- Traditional Robots
- Collaborative Robots
- Cartesian
- Others
Industrial Robotics Market, Payload Analysis
- Heavy Payload
- Light Payload
Industrial Robotics Market, Application Analysis
- Handling
- Welding & Soldering
- Assembling & Disassembling
- Dispensing
- Processing
- Cleanrooms
- Others
Industrial Robotics Market, End-User Analysis
- Automotive
- Electrical & Electronics
- Metals & Machinery
- Chemicals & Petrochemical
- Plastics & Rubbers
- Food & Beverages
- Precision Engineering & Optics
- Oil & Gas
- Others
Industrial Robotics Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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