Dublin, Oct. 03, 2024 (GLOBE NEWSWIRE) -- The "Industrial Robotics Market by Robot (Articulated, SCARA, Cartesian, Parallel, Cylindrical, Collaborative), Payload (Up to 16 Kg, >16 to 60 Kg, >60 to 225 Kg, >225 Kg), Offering (End Effectors, Controllers, Drive Units, Sensors) - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The industrial robots market is projected to grow from USD 16.89 billion in 2024 to USD 29.43 billion by 2029; it is expected to grow at a CAGR of 11.7%
This research report categorizes the industrial robotics market based on robot type, offering, application, payload, end-use industry, and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the industrial robotics market and forecasts the same till 2029. The report also consists of leadership mapping and analysis of companies in the industrial robotics ecosystem.
Factors driving the growth of the industrial robotics market include rising deployment of Industry 4.0 technologies, rapid advancement in factory automation technologies, and rising automation in electronics manufacturing. However, the requirement for extensive training and expertise for setting up high-end robots and the complexities associated with integrating cobots into diverse workstations are a challenge for the market in the near future. The major growth the emergence of industry opportunity for the market players is the emergence of Industry 5.0.
The report profiles key players in the industrial robotics market with their respective market ranking analyses. FANUC CORPORATION (Japan), ABB (Switzerland), Yaskawa Electric Corporation (Japan), KUKA AG (Germany), Mitsubishi Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd, (Japan), Denso Corporation (Japan), Nachi-Fujikoshi (Japan), Seiko Epson Corporation (Japan), and Durr Group (Germany), among others.
The market for handling application in the industrial robotics market is expected to have the highest share during the forecast period.
During the forecasted period, handling will be the industrial robotics market segment with the largest share. The biggest share of industrial robots during the forecast period is attributed to the heavy adoption in the automotive industry for activities such as moving vehicle bodies in assembly lines and mounting mechanical and electronic parts.
The increasing growth of the e-commerce industry has caused a revolutionary change in logistic and warehouse positions, which put high demand on automated material handling systems. As online shopping rises exponentially, processing higher volume at high speed with accuracy becomes a challenge for fulfillment centers. Handling robots, therefore, which work to sort, package, and transport items, are quite essential in the industry.
Traditional robots segment in industrial robotics market is expected to have highest share during the forecast period.
The traditional robots segment of the industrial robotics market is anticipated to witness the highest share during the forecast period. These robots have been used much longer than collaborative robots, which have only gained traction in the last decade. Industries with heavily automated production processes, such as automotive, electronics, and metals, use these robots most efficiently.
FANUC CORPORATION (Japan) is one of the leading robotics companies, offers variety of robots for applications like material handling, welding, assembling, and painting. ABB (Switzerland) Robotics, a Swiss-based multinational organization, has a varied range of industrial robots for diverse sectors such as automotive, metal fabrication, and logistics. Other major companies in this sector are KUKA (Germany), Yaskawa (Japan), and Universal Robots (Denmark).
Asia Pacific is expected to have the largest share of industrial robots in the forecast period.
Asia Pacific leads the industrial robots market by providing both suppliers and demand creators. Japan, China, South Korea, and Taiwan are among the top countries where robotic usage is at higher in the automotive, electronics, and machinery sectors. The government in Asian countries has launched programs and incentives to promote automation in manufacturing. These initiatives involve financial mobilizations ranging from tax relief to cooperation with research institutions and universities. The authorities, aside from promoting recent technologies, are investing in, and developing skills through different types of educational and vocational programs. This ensures the constant development and the enhanced competitiveness of the Asia Pacific industrial robotics sector.
The report provides insights on the following pointers:
- Analysis of critical drivers (increasing adoption of collaborative robots across industries, shortage of skilled workforce in manufacturing sector, rising deployment of Industry 4.0 technologies, mounting adoption of automation solutions to optimize manufacturing operations, and rapid advances in AI and digital automation technologies), restraints (high costs of collaborative robots), opportunities (emergence of industry 5.0 and rising automation in electronics manufacturing), and challenges (complexities associated with integrating cobots into diverse workstations, lack of standardization and interoperability issues, and requirement for extensive training and expertise for setting up high-end robots) influencing the growth of the industrial robotics market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the industrial robotics market
- Market Development: Comprehensive information about lucrative markets - the report analyses the industrial robotics market across varied regions
- Market Diversification: Exhaustive information about new products & technologies, untapped geographies, recent developments, and investments in the industrial robotics market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and product/service offerings of leading players like FANUC CORPORATION (Japan), ABB (Switzerland), Yaskawa Electric Corporation (Japan), KUKA AG (Germany), Mitsubishi Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd, (Japan), Denso Corporation (Japan), Nachi-Fujikoshi (Japan), Seiko Epson Corporation (Japan), and Durr Group (Germany), among others in the industrial robotics market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 440 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $16.89 Billion |
| Forecasted Market Value (USD) by 2029 | $29.43 Billion |
| Compound Annual Growth Rate | 11.7% |
| Regions Covered | Global |
Companies Featured
- ABB
- Yaskawa Electric Corporation
- Fanuc Corporation
- Kuka AG
- Mitsubishi Electric Corporation
- Kawasaki Heavy Industries, Ltd.
- Denso Corporation
- Nachi-Fujikoshi Corp.
- Seiko Epson Corporation
- Durr Group
- Yamaha Motor Co. Ltd.
- Estun Automation Co.,Ltd
- Shibaura Machine
- Dover Corporation
- Aurotek Corporation
- Hirata Corporation
- Rethink Robotics
- Franka Robotics GmbH
- Techman Robot Inc.
- Bosch Rexroth AG
- Universal Robots A/S
- Omron Corporation
- Staubli International AG
- Comau
- B+M Surface Systems GmbH
- Icr Services
- Irs Robotics
- Hd Hyundai Robotics
- Siasun Robot & Automation Co. Ltd
- Robotworx
For more information about this report visit https://www.researchandmarkets.com/r/13mlqq
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