Global Industrial Robotics Market Size is Enroute to USD 45.17 Billion, Driven by 9.74% CAGR by 2030 | Shaping Future Industries, Automation Revolution

New York, NY, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Industrial Robotics Market By Application (Handling, Processing, Welding & Soldering, Assembling & Disassembling, And Dispensing), By End-Use (Automotive, Chemical Rubber & Plastics, Food & Beverages, Electrical & Electronics, Machinery, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Industrial Robotics Market size & share in terms of revenue was valued at USD 21.45 billion in 2022 and it is expected to surpass around USD 45.17 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 9.74% during the forecast period 2023 to 2030.”

What is Industrial Robotics? How big is the Industrial Robotics Industry?

Report Overview:

The global industrial robotics market size was evaluated at $21.45 billion in 2022 and is slated to hit $45.17 billion by the end of 2030 with a CAGR of nearly 9.74% between 2023 and 2030. 

An industrial robot is a piece of automated equipment that is fed with data and programmed to carry out activities associated with production in manufacturing units in an automated manner. Industrial robots are often large and expensive pieces of machinery. According to the reports, the product is being created for the purpose of automating and expanding output in a manner comparable to that which is required by a continuously moving assembly line. The programming of industrial robots, as well as their subsequent reprogramming, is done to meet the specifications of individual companies and production units. For the record, industrial robots help improve output while cutting operational expenses and generating high-quality items in an automated manner. This information can be found in the previous sentence. SCARA robots, Cartesian robots, Collaborative robotics, Cylindrical robots, and Articulated robots are some of the several sorts of robots that are utilised in the industry.

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Global Industrial Robotics Market: Growth Factors

The growth of the market around the world may be prompted by countries with higher minimum salaries.

The production industry is expected to experience a shortage of labour as well as an increase in the cost of labour in the coming years, which will support the rise of the worldwide market for industrial robotics. The fourth industrial revolution has resulted in an unprecedented demand for robots and other forms of intelligent production, which is, in turn, influencing trends in global markets. In addition, participants in the industry have established new factories for the production of industrial robots, which has paved the way for the expansion of the available market space. For example, in the final three months of 2022, the important technology company ABB Limited developed a new industrial robotics unit in China. ABB Limited is a global leader in offering appropriate solutions to the utilities, transport, and infrastructure sectors.

In addition to this, the introduction of brand-new products will play an additional directing role in the evolution of the global market in the years to come. As an illustration, in March 2022, Mitsubishi Electric Corporation, a company based in Japan that manufactures electronics and electrical products, revealed its plans to debut industrial robots in 2023 with the purpose of performing industrial jobs in food-processing units. In addition to this, in May of 2023, Schaeffer, a leading technology company that specialises in industrial and automotive solutions, presented a deluge of advancements for the industrial automation and robotics industries under a theme at the Automate 2023 trade show that was hosted in Detroit, Michigan, in the United States.

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Report Scope

Industrial Robotics Market: Segmentation Analysis

Application, end-user, and geographic location are the three categories that are used to segment the global market for industrial robots.

Handling, processing, welding and soldering, assembling and disassembling, and dispensing are the application categories that are broken down into their own submarkets within the global market for industrial robotics. In addition, the processing sector, which accounted for approximately 55 percent of the total market share in 2022, is anticipated to exhibit the highest CAGR in the years to come. The expansion of the sector in the next years may be influenced by the fact that industrial robots will make less mistakes in the painting and cutting procedures they are responsible for conducting.

The worldwide automotive, chemical, rubber and plastics, food and beverage, electrical and electronics, machinery, and other industries make up the global industrial robotics industry. These segments are divided up based on the end use of the industrial robotics. In addition to this, the electrical and electronics segment, which accounted for a significant portion of the global industry share in 2022, is anticipated to establish segmental dominance in the years that are to follow.

In the electrical and electronics segment, the segmental elevation over the assessment timeline may be sensitive to the enormous usage of industrial robots for completing repetitive operations such as dispensing, labelling, screw driving, and insertion. This may be the case since industrial robots can accomplish these tasks more quickly and accurately than humans. In addition to this, the utilisation of industrial robots in the electrical and electronics sector contributes to the enhancement of output and the reduction of expenses, as well as the minimization of production overhead costs. The disruptions brought about by technological advancements have also made a major contribution to the segmental growth in recent years.

The global Industrial Robotics market is segmented as follows:

By Application 

• Handling
• Processing
• Welding & Soldering
• Assembling & Disassembling
• Dispensing

By End-Use

• Automotive
• Chemical Rubber & Plastics
• Food & Beverages
• Electrical & Electronics
• Machinery
• Others

Browse the full “Industrial Robotics Market By Application (Handling, Processing, Welding & Soldering, Assembling & Disassembling, And Dispensing), By End-Use (Automotive, Chemical Rubber & Plastics, Food & Beverages, Electrical & Electronics, Machinery, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report At https://www.zionmarketresearch.com/report/industrial-robotics-market

Competitive Landscape

Some of the main competitors dominating the global Industrial Robotics market include - 

• Motoman
• Kawasaki Heavy Industries Ltd.
• ABB Ltd.
• Nachi-Fujikoshi Corp.
• Mitsubishi Electric Corporation
• Nippon
• Staubli
• Daihen Corporation
• Fanuc Corporation
• Panasonic Corporation
• Denso Corporation
• Omron Corporation
• Epson Robots
• Rockwell Automation Inc.
• KUKA AG
• Yaskawa Electric Corporation
• Siemens AG
• Dixon Automatic Tool Inc.
• Seiko Epson Corporation
• Comau SpA.

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Industrial Robotics market is likely to expand at a CAGR of around 9.74% during the forecast period (2023-2030).                  
• In terms of revenue, the Industrial Robotics market size was valued at around US$ 21.45 billion in 2022 and is projected to reach US$ 45.17 billion by 2030.
• The global industrial robotics market is anticipated to record massive growth over the forecast period owing to the shortage of labor and high labor costs in the production sector.
• In terms of application, the processing segment is slated to register the fastest CAGR over the analysis period.
• Based on the end-use, the electrical & electronics segment is predicted to lead the segmental surge over the forecast timeline.
• Region-wise, the Middle East & Africa industrial robotics market is projected to register the highest CAGR during the assessment timeline.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Industrial Robotics industry?
• What are the main driving factors propelling the Industrial Robotics Market forward?
• What are the leading companies in the Industrial Robotics Industry?
• What segments does the Industrial Robotics Market cover?
• How can I receive a free copy of the Industrial Robotics Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Application, By End-Use, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

Asia-Pacific is likely to retain its dominant status in the global market over the assessment period

Asia-Pacific region, which accounted for 49% of the global industrial robotics market share in 2022, will be a leading region during the analysis timeline. Moreover, the expansion of the market in the Asia-Pacific zone over the forecast period can be attributed to the presence of a large number of factories in the countries such as Taiwan, South Korea, Japan, and China. Apart from this, the rising adoption of automation and AI in various sectors in the region has proliferated the expansion of the size of the market in the region.

The thriving electronics and automotive sector in the sub-continent will propel the expansion of the market space in the region. The government of these countries has supported the use of industrial robots by providing tax subsidies and funding to the manufacturers and such initiatives have promoted the expansion of the market in the region. Additionally, the presence of key players in the Asia-Pacific region will further embellish the regional market growth trends.

The Middle East & Africa industrial robotics industry is set to register the highest CAGR over the forecast timeline owing to favorable government schemes encouraging the use of industrial robots in oil & gas exploration and drilling as well as food processing activities in the countries of the Middle East region. In addition to this, use of the industrial robotics in the logistics sector will spearhead the expansion of the industry in the region. For instance, in the second half of 2020, the Prince of Dubai introduced The Dubai Robotics & Automation project in which nearly 2, 00,000 robots were to be provided to various logistics & industrial sectors to increase their production.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Industrial Robotics Market: Opportunities

Massive product penetration in the electrical & electronics sector to help the global market explore new growth facets

Rise in the automation in the electrical & electronics sector will open new growth opportunities for the global industrial robotics market. Furthermore, the inclusion of artificial intelligence and machine learning systems in industrial robots will lucratively impact the expansion of the global market. The launching of 5G systems will proliferate the application of robotics in the manufacturing sector and this will open new vistas of growth for the global market.

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