Industrial Robotics Market by Component (Robots, Robot Accessories), Payload (Upto 60 kg, 60–100 kg, 100–225 kg, and Above 225 kg), Application, End-use Industry, and Geography - Global Forecast to 2029

Industrial Robotics Market by Component(robots, robot accessories, controllers, software), Payload (Up to 60 kg, 60–100 kg, 100–225 kg, and Above 225 kg), Application, End-use Industry, and Geography - Global Forecast to 2029

The research report titled, ‘Industrial Robotics Market by Component(robots, robot accessories, controllers, software), Payload (Up to 60 kg, 60–100 kg, 100–225 kg, and Above 225 kg), Application, End-use Industry, and Geography - Global Forecast to 2029,’ provides an in-depth analysis of the industrial robotics market across five major geographies and emphasizes on the current market sizes and shares, recent developments, and forecasts till 2029. The industrial robotics market is expected to reach $32.7 billion by 2029, growing at a CAGR of 6.2% during the forecast period 2022–2029. By volume, this market is expected to reach 950.1 thousand units by 2029, at a CAGR of 11.2% from 2022 to 2029.

The growth of this market is driven by the increasing adoption of robots in the manufacturing sector, government support and policies for the adoption of industrial robots, high labor cost in North America and Europe, and the increasing number of SMEs globally. Furthermore, the rising automation across the automotive and electronics sectors and the increasing focus on reducing human labor in industries are expected to create significant opportunities for the players operating in the industrial robots market.

The study offers a comprehensive analysis of the global industrial robotics market based on component (robots, robot accessories, controllers, and software), payload (up to 60 kg, 60–100 kg, 100–225 kg, and above 225 kg), application (handling, assembling & disassembling, palletizing & depalletizing, welding & soldering, dispensing, processing, and other applications), end-use industry (automotive, electrical/electronics, metal & machinery, plastics & chemicals, food & beverage, healthcare & pharma, and other end-use industry), and geography. The study also evaluates industry competitors and analyses the regional and country-level markets.

Based on component, the robots accessories segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to its capability to enhance productivity and overcome common obstacles in manufacturing. Technological innovation has brought about significant advancements in end-effectors, which have been partially fueled by the need to attain dexterous manipulation in industrial robots for their enhanced functioning, particularly in pick-and-place operations. In the future, end-effectors are expected to achieve a higher level of technological sophistication as machine learning software and other safety features are increasingly being integrated into the End of Arm Tools (EOAT), coupled with the ability to adapt to its environment using machine vision.

Based on payload, in 2022, the up to 60 kg segment is expected to account for the largest share of the industrial robots market. This category includes SCARA robots, articulated robots, and collaborative robots. The rapid growth of the up to 60 kg segment is attributed to the increasing need for automation in the electrical and electronics industry for assembly and handling applications where SCARA robots are extensively used. Generally, a SCARA robot can operate at a higher speed and with optional cleanroom specifications. By design, the SCARA robot suits applications with a smaller field of operation, where floor space is limited. In addition, the compact layout makes them relocatable in temporary or remote applications. SCARA robots can be particularly used in industrial applications which require a clean and hygienic environment, such as the food and beverage industries

Based on application, the material handling segment is expected to grow at the highest CAGR during the forecast period. Material handling robots automate some of the most tedious, dull, and unsafe tasks in a production line. These robots enhance the efficiency of production lines and increase customer satisfaction by promptly providing quality products. These benefits are expected to drive the growth of this segment.

Based on end-use industry, in 2022, the automotive segment is expected to account for the largest share of the industrial robots market. The factors attributing to the growth of this segment include cost-effectiveness, higher efficiency, safety, speed & precision. Using robots allows car and automotive component makers to speed up production, reduce costs, improve quality and ensure workers' safety.

Based on geography, the industrial robotics market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific is expected to account for the largest share of the industrial robots market. This regional market is also expected to grow at the highest CAGR during the forecast period. The high growth of the Asia-Pacific industrial robotics market is driven by the increasing labor costs, driving manufacturers to automate the manufacturing processes to maintain their cost advantage. Additionally, Asia-Pacific is poised to retain a strong market position in the industrial robotics market due to cheap manufacturing costs and labor, safety standards, and government initiatives to accelerate foreign direct investments (FDIs).

Some of the key players operating in the industrial robotics market include ABB Ltd (Sweden), Fanuc Corporation (Japan), Yaskawa Electric Corporation (Japan), KUKA AG (Germany), Mitsubishi Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Denso Corporation (Japan), Dürr Group (Germany), Universal Robots (Denmark), Comau S.p.A. (Italy), Hyundai Robotics (South Korea), Techman Robot Inc (Taiwan), FRANKA EMIKA GmbH (Germany), F&P Robotics AG (Switzerland), and Bosch Rexroth AG (Germany), Omron Corporation (Japan), Seiko Epson Corporation (Japan), Stäubli International AG (Switzerland).

Key questions answered in the report:

Which are the high-growth market segments in terms of product component, payload, application, end-use industry, and country?
What is the historical market size of the global industrial robotics market?
What are the market forecasts and estimates for the period 2022–2029?
What are the major drivers, restraints, opportunities, challenges, and trends in the global industrial robotics market?
Who are the major players in the global industrial robotics market, and what are their market shares?
How is the competitive landscape?
What are the recent developments in the global industrial robotics market?
What are the different strategies adopted by the major players in the global industrial robotics market?
What are the geographical trends in high-growth countries?
Who are the local emerging players in the global industrial robotics market and how do they compete with other players?

Scope of the Report:

Industrial Robotics Market, by Component

Robots
Articulated Robots
Collaborative Robots
Scara Robots
Cartesian Robots
Delta Robots
Polar Robots
Cylindrical Robots
Robot Accessories
End of Arm Tooling (EOAT)
Vision Systems
Sensors
Controllers
Software

Industrial Robotics Market, by Payload

Up to 60 kg
60–100 kg
100–225 kg
Above 225 kg

Industrial Robotics Market, by Application

Material Handling
Palletizing & Depalletizing
Stacker
Bucket elevator
Grain elevator
Assembling & Disassembling
Welding & Soldering
Resistance Spot Welding
Arc Welding
Laser Welding
Plasma Welding
Ultrasonic Welding
Other Welding Applications
Dispensing
Processing
Machine Tending
Grinding
Milling and Turning
Injection Molding
Other Applications
Inspection
Laser Inspection
Leak Tests
Flow Tests
Dimensional Checks
Vision Systems
Other Applications

Industrial Robotics Market, by End-use Industry

Automotive
Electrical/Electronics
Metal & Machinery
Plastic & Chemicals
Food & Beverage
Healthcare
Biotechnology
Oil & Gas
Aerospace & Defense
Other End-use Industry

Industrial Robotics Market, by Geography

Asia-Pacific (APAC)
China
Japan
South Korea
India
South Korea
Taiwan
Singapore
Thailand
Rest of Asia-Pacific
Europe
Germany
Germany
Italy
Sweden
France
Austria
Denmark
Spain
Netherlands
Norway
U.K.
Rest of Europe
North America
U.S.
Canada
Latin America
Middle East & Africa

Global Industrial Robotics Market - Report Summary

Report Metrics	Details
Years Considered	2020 - 2029
Base Year	2021
Forecast Period	2022-2029
Page Count	402
Units Referenced	Value (USD Million), Volume (Thousand Units)
Segments/Key Topics	Market by Component, Market by Payload, Market by Application, Market by End use Industry, Market by Geography
Regions Covered	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Key Companies Mentioned	ABB Ltd (Sweden), Fanuc Corporation (Japan), Yaskawa Electric Corporation (Japan), KUKA AG (Germany), Mitsubishi Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Denso Corporation (Japan), Seiko Epson Corporation (Japan), Dürr Group (Germany), Universal Robots A/S (Denmark), Stäubli International AG (Switzerland), Comau S.p.A. (Italy), Hyundai Robotics (South Korea), SIASUN Robot & Automation CO., Ltd (China), OMRON Corporation (Japan), Techman Robot Inc. (Taiwan), FRANKA EMIKA GmbH (Germany), and F&P Robotics AG (Switzerland).

FAQs About the Report

What is the focus of the global industrial robotics market study?

The global industrial robotics market report covers the market sizes & forecasts for the global industrial robotics market based on component, payload, application, end-use industry, and geography. The market study provided in this report involves the value analysis of various segments and subsegments of the global industrial robotics market at the regional and country levels.

What is the value of revenue generated from the global industrial robotics market across the globe? At what rate is the demand expected to grow for the next 5–7 years?

The global industrial robotics market is projected to reach $32.70 billion by 2029 at a CAGR of 6.2% from 2022 to 2029. By volume, this market is expected to grow at a CAGR of 11.6% from 2022 to 2029 to reach 950.1 thousand units by 2029.

Which component category held the major share of the market in 2022?

Based on the component, in 2022, the robots segment is expected to account for the largest share of the global industrial robotics market.

Which is the high-growth end-use industry segment of the global industrial robotics market?

Based on end-use industry, the electrical & electronics segment is expected to witness the highest growth rate during the forecast period.

What are the key factors supporting the growth of this market? What are the major opportunities for existing market players and new entrants in the global industrial robotics market?

The growth of the industrial robotics market is driven by the increasing adoption of robots in the manufacturing sector, government support to encourage the adoption of industrial robots, and the high labor costs in North America and Europe.

Who are the major players operating in the global industrial robotics market?

The key players operating in the global industrial robotics market are ABB Ltd (Sweden), Fanuc Corporation (Japan), Yaskawa Electric Corporation (Japan), KUKA AG (Germany), Mitsubishi Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Denso Corporation (Japan), Seiko Epson Corporation (Japan), Dürr Group (Germany), Universal Robots A/S (Denmark), Stäubli International AG (Switzerland), Comau S.p.A. (Italy), Hyundai Robotics (South Korea), SIASUN Robot & Automation CO.,Ltd (China), OMRON Corporation (Japan), Techman Robot Inc. (Taiwan), FRANKA EMIKA GmbH (Germany), and F&P Robotics AG (Switzerland).

Which regions/countries are likely to offer significant growth opportunities for the vendors in this market during the analysis period?

Asian countries, including India and China, are expected to offer lucrative growth opportunities for the vendor operating in the global industrial robotics market during the forecast period.