Pune, India, Nov. 28, 2023 (GLOBE NEWSWIRE) -- The global industrial robots market size was valued at USD 16.78 billion in 2022. The market is set to rise from USD 18.19 billion in 2023 to USD 41.02 billion in 2030, exhibiting a CAGR of 12.3% over the anticipated period. The rise is due to a range of advantages such as improvement in productivity and reduced costs. Fortune Business Insights™ provides this information in its research report, titled “Industrial Robots Market, 2023-2030”.
KEY INDUSTRY DEVELOPMENTS:
January 2023 – KUKA AG rolled out a new KR Fortec ultra series industrial robots. The solution is capable of moving a 480 to 800 kg payload capacity. Some of the major features of the product comprise optimal cycle time, reduced operational times, less energy consumption, and emission free devices.
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Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 12.3 % |
| 2030 Value Projection | USD 41.02 billion |
| Base Year | 2022 |
| Industrial Robots Market Share in 2022 | USD 16.78 billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 160 |
| Segments covered | By Robot Type, By Application, By Industry and By Region |
| Industrial Robots Market Growth Drivers | Increase in Investments across Industries to Drive the Growth of the Market |
| Rise in the Logistics Sector is Expected to Aid the Market Growth |
Report Coverage:
The report offers a comprehensive coverage of the vital factors slated to propel the global business scenario over the forthcoming years. It further provides an analysis of the major trends boosting industry expansion over the forecast period. Some of the other aspects comprise acquisitions, merger agreements, and various other initiatives adopted by key industry participants.
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Drivers and Restraints:
Market Share to Rise Driven by Increase in Investments Across Various Industries
One of the vital factors propelling industrial robots market growth comprise the surging product demand and investments across an array of industries. These include packaging, pharmaceuticals, automotive, equipment, consumer electronics, and others.
However, high costs associated with the high costs of maintenance and investments at the initial stage are expected to hamper market expansion to a considerable extent.
Market Segmentation:
Articulated Robots to Gain Notable Demand Owing to Rising Penetration
On the basis of robot type, the market is fragmented into cylindrical, SCARA, cartesian/linear, articulated, parallel, and others. The articulated robots segment is estimated to grow at a notable pace throughout the projected period. The surge is driven by the product ability to conduct exact motions on a repetitive basis.
Material Handling to Register Considerable Upsurge Driven by Surging Demand from Pharmaceutical Sector
Based on application, the market for industrial robots is segmented into assembling, welding & soldering, pick & place, cutting & processing, material handling, and others. Of these, the material handling segment is slated to register considerable expansion over the estimated period. The rise is on account of the escalated product demand from the pharmaceutical, food and beverage, and electrical & electronics industries.
Healthcare & Pharmaceutical Sectors to Record Substantial Demand Impelled by Surging Usage in Medical Operations
On the basis of industry, the market is subdivided into automotive, electrical & electronics, healthcare & pharmaceutical, food & beverages, rubber & plastic, metals & machinery, and others. Of these, the healthcare & pharmaceutical segment is poised to expand at a substantial CAGR over the forecast period.
By geography, the market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
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Regional Analysis:
Asia Pacific to Register Appreciable Expansion Impelled by Increasing Automation
Asia Pacific industrial robots market share is expected to expand at a substantial pace over the projected period. The expansion is driven by the increasing automation demand in the region, particularly in India, China, and Japan.
The North America market is poised to exhibit considerable growth throughout the forecast period. The surge is impelled by the increased demand for small and customized robotic systems.
Competitive Landscape:
Leading Industry Participants to Launch New Products to Strengthen Market Position
Major market participants are focused on the development and rollout of new solutions for gaining competitive edge. Some of the other initiatives include merger agreements, acquisitions, and the rollout of new solutions. These steps are being adopted for strengthening the positions of their businesses.
List of the Companies Operating in the Market:
- 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)
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
- 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, 2022
- Global Industrial Robots Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2019-2030
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- Key Findings
- By Robot Type (USD Billion, and Thousand Units)
- Articulated
- SCARA
- Cylindrical
- Cartesian/Linear
- Parallel
- Others (Collaborative, etc.)
- By Application (USD Billion)
- Pick & Place
- Welding & Soldering
- Material Handling
- Assembling
- Cutting & Processing
- Others (Painting, etc.)
- By Industry (USD Billion)
- Automotive
- Electrical & Electronics
- Health & Pharmaceuticals
- Food & Beverage
- Rubber & Plastic
- Metals & Machinery
- Others (Construction, Defense, Logistics, etc.)
- By Region (USD Billion, and Thousand Units)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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- North America Industrial Robots Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2019-2030
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- Key Findings
- By Robot Type (USD Billion, and Thousand Units)
- Articulated
- SCARA
- Cylindrical
- Cartesian/Linear
- Parallel
- Others (Collaborative, etc.)
- By Application (USD Billion)
- Pick & Place
- Welding & Soldering
- Material Handling
- Assembling
- Cutting & Processing
- Others (Painting, etc.)
- By Industry (USD Billion)
- Automotive
- Electrical & Electronics
- Health & Pharmaceuticals
- Food & Beverage
- Rubber & Plastic
- Metals & Machinery
- Others (Construction, Defense, Logistics, etc.)
- By Country (USD Billion and Thousand Units)
- U.S.
- By Robot Type
- Articulated
- SCARA
- Cylindrical
- Cartesian/Linear
- Parallel
- Others (Collaborative, etc.)
- By Robot Type
- Canada
- By Robot Type
- Articulated
- SCARA
- Cylindrical
- Cartesian/Linear
- Parallel
- Others (Collaborative, etc.)
- By Robot Type
- U.S.
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