Industrial Robots Market
Growth Factors of Industrial Robots Market
The industrial robots market size was valued at USD 16.78 billion in 2022, and the market is now projected to grow from USD 18.19 billion in 2023 to USD 41.02 billion by 2030, exhibiting a CAGR of 12.3% during the forecast period of 2023-2030.
The rising need for synchronization during COVID-19 pandemic has propelled the industrial robots market growth. The enduring shift from manual to mechanical operations is driving up the demand for these systems. However, the lockdown scenarios that are forced worldwide downfall the market growth. Manufacturing and operation units were stopped, which had a negative impact on the market expansion.
The industrial robots market share globally has been enlarged because of the increase in investments across industries. The growing demand for these robots is due to the need to place throughout their locations to harness industrial activity and cut costs. Hence, significant funding being made in the companies is increasing the requirement for these machines.
The trend of the growing logistic sector is fueling the need for the device and is propelling the market expansion. Customers prefer to purchase online which is expanding the e-commerce sector. The integration of automated robotic systems is highly used in distribution centers, merchants and warehouses to help in overall processes. The delivery on time, save money on labor, and improve efficiency and production at every step are being facilitated by the device.
Comprehensive Analysis of Industrial Robots Market
The industrial robots market and machinery and equipment industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the machinery and equipment industry. These segmentations are methodically segregated by types of robot type, application, and industry. Industries involve metals and machinery, electrical and electronics, food and beverages, automotive, rubber & plastic, pharmaceutical & healthcare. Robot type is SCARA, cylindrical, articulated, cartesian/liner, parallel, and others. The applications are cutting & processing, pick and place, welding & soldering, assembling, material handling, and others.
The Asia Pacific region is contributing to the global industrial robots market, leading to a recall of USD 8.22 billion because of escalating mechanized systems. The growing population and rising disposable income of people support the demand for consumer goods and other items, resulting in increased production capacity and expanding market presence.
The top players in the market play a crucial role in the machinery and equipment industry assuring industrial prospectus growth and setting market standards. These players include KUKA AG (Germany), Kawasaki Heavy Industries, Ltd. (Japan), FANUC CORPORATION (Japan), YASKAWA ELECTRIC CORPORATION (Japan), ABB (Switzerland), Comau SpA (Italy), Mitsubishi Electroc Corporation (Japan), NACHI-FUJIKOSHI CORP. (Japan), and Omron Corporation (Japan), these market players provide a levelheaded competitive landscape.
In July 2022, Compau announced a new Racer-5 SE. It is smooth and simple to clean design with the aim to lighten the workload in cleanrooms and sensitive manufacturing facilities.
Segmentation Table
Global Industrial Robots Market Scope
ATTRIBUTE DETAILS
Study Period 2019 – 2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 12.3% from 2023 to 2030
Unit Value (USD Billion), and Volume (Thousand Units)
Segmentation By Robot Type
Articulated
SCARA
Cylindrical
Cartesian/Linear
Parallel
Others (Collaborative, etc.)
By Application
Pick & Place
Welding & Soldering
Material Handling
Assembling
Cutting & Processing
Others (Painting, etc.)
By Industry
Automotive
Electrical & Electronics
Healthcare & Pharmaceutical
Food & Beverages
Rubber & Plastic
Metals & Machinery
Others (Construction, Defense, etc.)
By Region
North America (By Robot Type, By Application, By Industry, and By Country)
- U.S. (By Robot Type)
- Canada (By Robot Type)
Europe (By Robot Type, By Application, By Industry, and By Country)
- Germany (By Robot Type)
- U.K. (By Robot Type)
- France (By Robot Type)
- Italy (By Robot Type)
- Rest of Europe
Asia Pacific (By Robot Type, By Application, By Industry, and By Country)
- China (By Robot Type)
- Japan (By Robot Type)
- India (By Robot Type)
- Southeast Asia (By Robot Type)
- Rest of Asia Pacific
Middle East & Africa (By Robot Type, By Application, By Industry, and By Country)
- GCC (By Robot Type)
- South Africa (By Robot Type)
- Rest of the Middle East & Africa
Latin America (By Robot Type, By Application, By Industry, and By Country)
- Brazil (By Robot Type)
- Mexico (By Robot Type)
- Rest of Latin America