Pune, India, May 15, 2023 (GLOBE NEWSWIRE) -- The global industrial robots market size is anticipated to reach USD 35.68 billion by 2029 and register a striking CAGR of 11.4% during the forecast period. Increasing investments across various industries, coupled with the rising small and medium-sized factories are projected to stimulate the growth of the market. Fortune Business Insights has presented this information in its report titled, “Industrial Robots Market, 2022-2029”. The market size stood at USD 15.60 billion in 2021 and USD 16.78 billion in 2022.
Additionally, the expanding logistics industry and the growing automation adoption across the industry are expected to create lucrative growth opportunities for the market.
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Key Takeaway:
- Based on Robot type, the market is divided into SCARA, articulated, cartesian/linear, cylindrical, parallel, and others.
- Based on Application, the market is classified into welding & soldering, pick & place, assembling, material handling, cutting & processing, and others.
- The Asia Pacific market was valued at USD 7.69 billion in 2021. Asia Pacific is expected to dominate the worldwide market during the forecast period.
- North America is predicted to rise significantly as the worldwide market is driven by the advent of smart factories and industry 4.0, resulting in increased demand for customized and small robotic systems.
Factors Affecting the Stakeholders of the Industrial Robots Market (2029):
- Manufacturers of industrial robots: These are companies that design, develop, and produce industrial robots for various applications.
- End-users: These are the companies that purchase and use industrial robots for their manufacturing processes. They could be from various industries such as automotive, electronics, healthcare, and others.
- System integrators: These are companies that provide customized solutions to end-users by integrating various components such as robots, sensors, and software.
- Suppliers of components and accessories: These are companies that provide components and accessories such as motors, controllers, grippers, and sensors that are used in industrial robots.
- Distributors and resellers: These are companies that distribute and resell industrial robots and related components to end-users.
- Industry associations: These are organizations that represent the interests of the industrial robots industry and provide a platform for networking and knowledge sharing.
COVID-19 Impact-
Positive Surge in Demand for Industrial Robots During COVID-19
The coronavirus pandemic gave a major boost to product demand across various industries. Various initiatives and regulations for workplace safety and avoiding industrial accidents have potentially accelerated the industrial robots market growth. The incorporation of advanced sensors and technologies such as Artificial Intelligence (AI) has aided the market’s expansion. The major players operating in the market are adopting various strategies to amplify their global presence, which is likely to further escalate the market expansion in the coming years.
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Report Coverage:
- It delivers a comprehensive analysis of the market’s growth drivers.
- It offers insights into the development strategies being adopted by the leading players.
- The impact of the pandemic on the growth of the market is presented in the report.
- It covers an assessment of leading market players and profiles them accordingly.
- Various segments of the market are described in detail.
Industrial Robots Market Segments:
On the basis of robot type, the market is divided into parallel, cartesian/Linear, cylindrical, SCARA, articulated, and others. On the basis of application, the market is segmented into cutting & processing, assembling, material handling, welding & soldering, pick & place, and others. On the basis of industry, the market is categorized into metals & machinery, rubber & plastic, food & beverages, healthcare & pharmaceutical, electrical & electronics, automotive, and others. Geographically, the market is classified into Latin America, Europe, the Middle East & Africa, North America, and Asia Pacific.
Regional Insights-
High Demand from Various Industries to Fuel Growth in Asia Pacific
Asia Pacific is predicted to bestride the global industrial robots market share. The increasing automation demand across India, China, and Japan is the major growth propellant for the market in Asia Pacific. Additionally, the improving disposable income levels, coupled with the expanding populace require production capacity expansions. This escalating need for higher and swift production capacity is estimated to flourish in the market growth in Asia Pacific.
North America is expected to witness substantial development in the coming years due to the emergence of Industry 4.0 and smart factories.
Europe is anticipated to exhibit significant growth due to rising industrial robots’ up-gradation across aerospace, food & beverage, electronics, and other industries.
Latin America and the Middle East & Africa are projected to gain immense growth due to increasing industrialization and automation adoption.
Competitive Landscape-
Major Players Launch New Products to Acquire Growth
The major market players emphasize technological innovations through extensive research and development activities to launch highly efficient and modern industrial robots. They adopt various strategies, including mergers, acquisitions, collaborations, and others to amplify their global outreach. For instance, Omron Corporation expanded its mobile robot series by launching a new mobile robot in November 2019. The new robot has the capacity of moving a payload of up to 250 kg.
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Scope of the Report:
| Report Attribute | Details |
| Market Value (2021) | USD 15.60 billion |
| Market Size (2029) | USD 35.68 billion |
| CAGR (from 2022 to 2029) | 11.4% |
| Asia Pacific Industrial Robots Market Size (2021) | USD 7.69 billion |
| Historic Period | 2018-2020 |
| Base Year | 2021 |
| Forecast Year | 2022-2029 |
Drivers & Restraints
Expansion of E-commerce & Logistics Industries to Bolster Market Growth
Industrial robots are highly demanded across various industries such as equipment, packaging, consumer electronics, automotive, pharmaceuticals, and others. They aid heavy lifting operations and also help in cutting costs. Industrial robots’ deployment aids in production and efficiency improvement, which is a crucial factor boosting the market’s growth.
The expanding e-commerce industry due to rising online purchases by consumers has led to an uptick in the logistics sector. The demand for faster and more efficient delivery has grown prominently, and the incorporation of advanced industrial robots streamlines the process.
However, high maintenance and initial investment costs may impede the growth of the market during the forecast period.
List of Key Players Mentioned in the Report:
- ABB (Switzerland)
- YASKAWA ELECTRIC CORPORATION (Japan)
- Mitsubishi Electric Corporation (Japan)
- NACHI-FUJIKOSHI CORP. (Japan)
- Comau SpA (Italy)
- KUKA AG (Germany)
- FANUC CORPORATION (Japan)
- DENSO CORPORATION. (Japan)
- Kawasaki Heavy Industries, Ltd. (Japan)
- Omron Corporation (Japan)
Recent Development of the Agriculture Equipment Market:
- FANUC and BMW AG signed a framework agreement wherein FANUC will supply 3,500 robots for new production lines and plants. These robots will be deployed in developing the existing and future generations of BMW models.
- FANUC introduced the newest collaborative robot, the CRX 10-iA. The new robot can perform highly functional tasks under a flip motion to perform repetitive tasks.
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Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Industrial Robots Key Players Market Share Insights and Analysis, 2021
- Global Industrial Robots Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
-
- Key Findings
- By Robot Type (USD Bn)
- Articulated
- SCARA
- Cylindrical
- Cartesian/Linear
- Parallel
- Others (Collaborative, etc.)
- By Application (USD Bn)
- Pick & Place
- Welding & Soldering
- Material Handling
- Assembling
- Cutting & Processing
- Others (Painting, etc.)
- By Industry (USD Bn)
- Automotive
- Electrical & Electronics
- Health & Pharmaceuticals
- Food & Beverage
- Rubber & Plastic
- Metals & Machinery
- Others (Construction, Defense, Logistics)
- By Region (USD Bn)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
-
- North America Industrial Robots Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
-
- Key Findings
- By Robot Type (USD Bn)
- Articulated
- SCARA
- Cylindrical
- Cartesian/Linear
- Parallel
- Others (Collaborative, etc.)
- By Application (USD Bn)
- Pick & Place
- Welding & Soldering
- Material Handling
- Assembling
- Cutting & Processing
- Others (Painting, etc.)
- By Industry (USD Bn)
- Automotive
- Electrical & Electronics
- Health & Pharmaceuticals
- Food & Beverage
- Rubber & Plastic
- Metals & Machinery
- Others (Construction, Defense, Logistics)
- By Country (USD Bn)
- U.S.
- By Robot Type (USD Bn)
- Articulated
- SCARA
- Cylindrical
- Cartesian/Linear
- Parallel
- Others (Collaborative, etc.)
- By Robot Type (USD Bn)
- U.S.
-
TOC Continued…!
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