Industrial Robotics Market is projected to reach USD 75.3 billion by 2026, at a CAGR of 12.3% | ABB (Switzerland), FANUC (Japan), YASKAWA (Japan), KUKA (Germany), Mitsubishi Electric (Japan), Kawasaki Heavy Industries (Japan) etc.

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The report profiles key players in the industrial robotics market with their respective market ranking analysis. Prominent players profiled in this report are ABB (Switzerland), FANUC (Japan), YASKAWA (Japan), KUKA (Germany), Mitsubishi Electric (Japan), Kawasaki Heavy Industries (Japan), Denso Corporation (Japan), NACHI-FUJIKOSHI (Japan), Seiko Epson (Japan), DÜrr (Germany), Universal Robots (Denmark), Stäubli (Switzerland), Comau(Italy), B+M SURFACE SYSTEMS (Germany), ICR Services(US), IRS Robotics(Netherlands), Hyundai Robotics(South Korea), Siasun Robotics(China), RobotWorx(US), Techman Robot(Taiwan), Rethink Robotics(Germany), FrankaEmika (Germany), F&P Robotics (Switzerland), Bosch Rexroth (Germany).

“The industrial robotics market is projected to grow at a CAGR of 12.3% during 2021–2026”

The industrial robotic market (including the prices of peripherals, software, and system engineering) is expected to grow from USD 42.2 billion in 2021 and is projected to reach USD 75.3 billion by 2026; it is expected to grow at a CAGR of 12.3% during the forecast period. The factors such as incentives offered by the government of various countries worldwide and public-private companies to the industrial sectors to mitigate the impact of COVID-19 pandemic coupled with growing demand for collaborative robots across all the industries to enable automation are driving the growth of the market. However, the reduction of the jobs of general laborers due to adoption of industrial robots in the manufacturing sector for automating the production lines is of the key factors limiting the growth of the market.

“Market for collaborative robots to grow at higher CAGR during the forecast period”

Collaborative robots, also known as cobots can directly and safely interact with humans in a shared workspace. These robots are not operated inside cages or safety enclosures. Distinctive features of collaborative robots include rounded edges, embedded impact, and proximity sensors, as well as a lightweight design. They are majorly adopted by the SMEs for automation given the fact that they require limited investment capital and are easier to deploy as compared to the traditional industrial robots. Their flexibility to easily adapt to different tasks makes them appealing to many industries and enable faster return on investment (ROI). Apart from SMEs these robots are also being considered for automation in large-scale, traditional industries such as automotive. Hence, the market for collaborative robots is expected to grow at a faster rate during the forecast period.

“Food & Beverages industry for the industrial robotics market to record highest CAGR during the forecast period”

Food & Beverages industry is estimated to have the highest growth for the industrial robotics market during the forecast period. Primary food processing mandates a high degree of sanitation. Under this, industrial robots are used for automation of several tasks such as picking and placing fruits and vegetables, cutting and slicing meat, de-panning bakery items such as bread and cakes, and packaging the final product. These robots also need to be water-resistant or IP67 certified. . For instance, the HE (Humid Environment) series articulated and SCARA robots from Stäubli (Switzerland) are suitable for use in humid environments. Secondary processing, end-of-line packaging and palletizing are the most common operations where industrial robots have witnessed growth in this industry. As majority of the processes involved in food & beverages manufacturing are automated, this industry needs to deploy industrial robots on a large scale, as a result of which the industry is estimated to have the fastest growth for the industrial robotics market.

“Industrial robotics market for processing application to grow at the highest CAGR during the forecast period”.

Processing application is expected to be the fastest-growing segment of the industrial robotics market. The processing application includes sub-types such as surface processing, polishing, deburring which involves adoption of industrial robots for their implementation. Automotive industries have begun to invest more in polishing assembly lines, which is expected to fuel the growth of the market for processing applications. SMEs predominantly undertake these processing applications in their manufacturing plants. As SMEs have a faster rate of growth compared to the large-scale industries, the adoption of industrial robots for automating the processing applications would also expect a rise during the forecast period. Hence the existing companies or SMEs in the industrial market can target the industries wherein processing application is undertaken in manufacturing, so in order to increase their revenues.

“Europe to hold a significant share of the industrial robotics market during the forecast period”

Europe is expected to hold a significantly large market for industrial robots during the forecast period. In Europe, industrial robots are not only relevant for large enterprises, but for smaller enterprises as well. Germany is the largest market in Europe for industrial robotics both for traditional as well as collaborative robots. The automotive sector which is highly prominent in Germany is the largest contributor in the demand for industrial robots. With the advent of electric and hybrid vehicles, collaborative robots are being introduced in the automotive industry. The second-largest contributor in the demand for industrial robots is the electrical & electronics industry in Germany. This strong manufacturing sector is expected to accelerate the growth of industrial robotics market in the country. Additionally, government initiatives, such as the Industry 4.0 and Made in China 2025, and the penetration of IoT and AI are expected to boost the sales of industrial robots in the coming years.

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