Pune, India, Aug. 16, 2023 (GLOBE NEWSWIRE) -- According to a recent report by Fortune Business Insights, the anticipated global industrial robots market size is set to reach USD 35.68 billion by 2029. This growth can be attributed to increased investments across various industries, the proliferation of small and medium-sized factories, and the expanding integration of automation within the logistics sector. The comprehensive analysis titled "Industrial Robots Market Size, Share & Industry Analysis" indicates that the market achieved a valuation of USD 15.60 billion in 2021 and USD 16.78 billion in 2022. Projections suggest a robust compound annual growth rate of 11.4% from 2022 to 2029. The segmentation of the market is based on robot type, application, industry, and region.
The global industrial robots market research reports offer a comprehensive and insightful analysis of industrial robot’s industry. This report helps to understand the market landscape, trends, opportunities, challenges, and key players. The research employs a combination of qualitative and quantitative methodologies to present a well-rounded view, including data-driven statistics, expert opinions, and market dynamics. By examining factors such as market size, growth potential, competitive analysis, consumer behavior, and emerging technologies, this reports aims to help the businesses and stakeholders with valuable insights for strategic decision-making and successful market engagement.
Request a Free Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/industrial-robots-market-100360
Key Takeaway:
- The rise in the Logistics Sector is Expected to Aid the Market
- An increase in Investment across Industries is Driving the Growth of the Market
- High Costs of Investments at Initial Stage and Maintenance Hinder the Market Growth
- The articulated Robots Segment is Predicted to Show a Higher Growth Rate Due to Growing Penetration
COVID-19 Impacts:
Positive Surge in Demand for Industrial Robots During COVID-19
The coronavirus pandemic gave a major boost to the 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.
Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/industrial-robots-market-100360
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.
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.
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 the 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.
Quick Buy - Industrial Robots Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100360
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% |
| 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 Industrial Robots 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.
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/industrial-robots-market-100360
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)
-
TOC Continued…
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
