Pune, Aug. 23, 2024 (GLOBE NEWSWIRE) -- Industrial Robotics Market Key Insights:
“According to SNS Insider Research, The Industrial Robotics Market Size was valued at USD 17.3 billion in 2023 and is expected to reach USD 47.64 billion by 2032, growing at a CAGR of 13.5% over the forecast period 2024-2032.”
The industrial robotics market is witnessing a significant surge, driven by the increasing need for automation across various industries. The market's growth has been greatly influenced by the increasing need for precision, efficiency, and safety in manufacturing processes, driven by the global adoption of Industry 4.0. The International Federation of Robotics (IFR) reported that in 2022, a total of 553,052 industrial robots were installed worldwide, representing a 5% growth compared to the prior year. Asia remains the top player in the market, especially in new setups, with China taking the lead by installing 290,258 robots, marking a 57% surge from 2021.
The industrial robotics market is expected to keep growing, as the IFR predicts over 590,000 units to be installed worldwide in 2023, showing a 7% increase. This growth emphasizes the strong possibilities of the market, especially in areas such as Asia-Pacific, where industrialization and automation are quickly progressing.
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Key Players Analysis Listed in this Report are:
- ABB
- DÜrr
- FANUC
- YASKAWA
- KUKA
- Denso Corporation
- Mitsubishi Electric
- Kawasaki Heavy Industries
- Universal Robots A/S
- NACHI-FUJIKOSHI
- Panasonic Corporation
- Rockwell Automation, Inc.
- Bosch GmbH
- Yaskawa Electric Corporation
- Toshiba Corporation
- Seiko Epson
- Other Players
Industrial Robotics Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 17.3 Billion |
| Market Size by 2032 | USD 47.64 Billion |
| CAGR | CAGR of 13.5% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | • North America (US, Canada, Mexico) • Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]) • Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific) • Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]) • Africa [Nigeria, South Africa, Rest of Africa] • Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | • Industrial robotics market grows rapidly in certain regions and sectors. • AI Integration and its Effect on the Industrial Robotics Market |
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Segment Analysis
By Type
Articulated robots are the leading type of machinery within the Industrial Robotics Market, holding a 28% share in 2023. Their dominance in the market can be explained by better precision, versatility, and application within multiple industries. Manufacturers from both the automotive and electronics sectors have long recognized the indispensable value of these mechanisms both for processing heavy materials and assembling sensitive devices. For the first, robotics could address the need to perform complex, heavy, and repetitive tasks.
By End User
In 2023, material handling was the top end-user segment, representing 42% of the market. The rise in this sector is fueled by the growing demand for efficiency and safety in managing dangerous substances, especially in sectors such as pharmaceuticals, chemicals, and food & beverage. Material handling robots are crucial for automating the movement of hazardous materials, decreasing the likelihood of accidents, and guaranteeing the safety of workers.
Industrial Robotics Market Key Segmentation:
By Type
- 6-Axis Robots
- SCARA
- Cartesian
- Articulated
- Redundant
- Delta
- Dual-Arm and Parallel
By Component
- Robotic Arms
- End Effectors
- Drive Units
- Robot Accessories
- Controllers
- Vision Systems
- Sensors
By Application
- Palletizing
- Assembling
- Welding
- Material Handling
- Processing
By End User
- Entertainment
- Electronics
- Automotive
- Rubber & Plastic
- Food & Beverage
- Healthcare & Pharmaceuticals
"Asia-Pacific Leads the Industrial Robotics Market with 32% Share in 2023, North America Follows with 29% Driven by Industry 4.0 Adoption"
In 2023, Asia-Pacific remains at the forefront of the industrial robotics market, holding onto 32% of the market share. The area's leadership is fueled by the quick industrial growth and growing use of automation technologies in nations such as China, Japan, and India. In China, the government's emphasis on enhancing manufacturing capabilities through automation is a crucial factor for growth. In the same way, Japan's enduring dominance in robotics, along with its progress in AI and IoT, is driving the growth of the market. The region's market growth is being further boosted by increasing demand for consumer goods, driven by expanding populations and rising disposable incomes.
In 2023, North America holds a 29% share in the industrial robotics market as the second fastest-growing region. The area's development is credited to the emergence of intelligent factories and the implementation of Industry 4.0 technologies. The market is being driven by the growing need for compact and personalized robotic systems, as companies aim to improve production efficiency and achieve quicker returns on investment. The growth is primarily led by the automotive, electronics, and consumer goods sectors, which depend on advanced robotics for increased precision and productivity.
Recent Developments:
- In May 2023, ABB Ltd. launched its new IRB 5710 and IRB 5720 industrial robots, used to perform advanced material handling and assembly tasks. Automation engineers developed the motion control software for the IRB 5710, improving precision and efficiency in running the machinery. IRB 5720 uses integrated vision systems to allow better identification and manipulation of objects within the surroundings.
- In June 2023, Fanuc Corporation released the R-2000iD series, which is an articulated robotic lineup that performs application tasks in the automotive and metal industries. The R-2000iD has improved load capacities and energy efficiency levels, thus, reducing the cost of operations on the side of the manufacturer.
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Key Takeaways for the Market Study:
- The report offers an in-depth analysis of the Industrial Robotics Market, aiding clients in comprehending the main factors driving growth and opportunities in the sector.
- Customers gain an extensive review of key competitors and recent advancements, enabling them to compare their tactics with top companies in the field.
- Precise estimations of the market size and future growth empower clients to strategically plan their investments and expansion initiatives.
- The report emphasizes important regional events, giving clients a thorough grasp of market trends in various geographical areas.
- Studying the most recent technological developments in industrial robotics enables customers to remain at the forefront and take advantage of new trends.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Industrial Robotics Market Segmentation, by Type
8. Industrial Robotics Market Segmentation, by Components
9. Industrial Robotics Market Segmentation, by Application
10. Industrial Robotics Market Segmentation, by End User
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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