Industrial Robotics Market 2021-2027 skyrocketed revenue with key players ABB Ltd., Yaskawa Electric Corporation, Denso Corporation, Fanuc Corporation, KUKA AG, Kawasaki Robotics, Toshiba Corporation

Latest research on Industrial Robotics Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2015-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Industrial Robotics market. this report included a special section on the Impact of COVID19. Also, Industrial Robotics Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Industrial Robotics industry.

The industrial robotics market was valued at USD 24.35 billion in 2020 and is expected to reach USD 52.85 billion by 2026, at a CAGR of 14.11% over the forecast period (2021 - 2026).

The Industrial Robotics market is highly competitive and consists of a number of major players. Top Companies like ABB Ltd., Yaskawa Electric Corporation, Denso Corporation, Fanuc Corporation, KUKA AG, Kawasaki Robotics, Toshiba Corporation, Panasonic Corporation, Staubli Mechatronics Company, Yamaha Robotics, Epson Robots, Comau SPA, Adept Technologies

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Industry News And Developments:

- December 2019 - Fanuc launched CRX-10iA and CRX-10iA/L (long arm version) collaborative robots that set new standards in terms of ease of use, reliability and safety. FANUC debuted the new collaborative robots at the 2019 INTERNATIONAL ROBOT EXHIBITION, Dec. 18-21 in Tokyo.

- June 2019- ABB and Kawasaki heavy industries created the world’s first common interface for collaborative robots. The common interface is poised to help address the shortage of skilled workers, in several industries. In Japan, for example, one in every five people is within a decade of retirement.

Scope of the Report

- Increased demand across economies, product manufacturers are adopting robots to automate some of the repetitive processes. According to the Robotic Industries Association, more than 250,000 industrial robots had been installed in the United States alone, which gives an estimate of the penetration of industrial robots.

- The industrial robots market has been witnessing a huge demand over the past decade, owing to the rising adoption of smart factory systems, of which these robots play a vital part. The global smart factory market is expected to reach USD 388.68 billion by 2024, which provides insights on the scope of the adoption of industrial robots for automation across end-user industries.

Key Market Trends

Automotive Industry to Hold Major Share

- The growing adoption of automation in the automotive manufacturing process and involvement of digitization and AI are the primary factors driving the demand for industrial robots in the automotive sector.

- The increase in demand for automotive is necessitating the demand for increased production. According to the Mexican Automotive Association (AMIA), vehicle production increased by 3.9% in May 2018. Significant initiatives have been taken by the governments of various countries in Latin America, to increase the adoption of electric vehicles, such as building convenient charging stations. Such initiatives are expected to spur the demand for electric vehicle production thereby increasing the adoption of automation. Which is anticipated to spur the growth of industrial robots in the automotive industry.

- In 2017, more than 170,000 robots took part in the production process in the European automotive industry. The growing presence of robots and automation in the European automotive industry is expected to fuel the market for industrial robots in the region.

- For instance, in July 2018, International Automotive Components (IAC), implemented manufacturing 4.0 and smart factory applications at its UK site, in Halewood, England. The new application is expected to deploy smart logistics, cross-company integration, and collaborative robots (cobots).

North America to Hold a Significant Market Share

- North America, which is among the leading innovators and pioneers in terms of adoption of robotics, is one of the largest markets. Robot use in the region continues to grow, which is helping make US companies more competitive and leading to new job growth. Further, according to Robotic Industries Association (RIA), the most significant driver of the year-to-date growth of industrial robots was an 83% increase in units purchased by automotive OEMs for process automation.

- According to the Association for Advancing Automation, over 180,000 robots had been dispatched to various American companies since 2010, and more than 1.2 million new manufacturing jobs have been created during this time. According to MIT, automotive manufacturing accounted for a significant portion of the demand for industrial robots in the United States, followed by electronic and plastics and chemical manufacturing.

- Further, automation is empowering small American businesses to compete on par with deep-rooted rivals around the world. The United States is likewise one of the largest automotive markets in the world and is home to over 13 major auto manufacturers. Automotive manufacturing has been one of the comprehensive revenue generators for the country in the manufacturing sector.

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What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Industrial Robotics Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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