Press release
Industrial Robotics Market Comprehensive Study Explore Huge Growth in Future | FANUC, YASKAWA, KUKA, Mitsubishi Electric, Kawasaki Heavy Industries
A recent study by the strategic consulting and market research firm; Report Ocean revealed that the Global Industrial Robotics Market was worth USD 43 billion in 2021 and is projected to reach up to USD 81.9 billion by the year 2028, exhibiting a CAGR of around 10% during 2022-2028. Rising adoption of smart manufacturing systems, in which robots play an important part in the industrial setups, is driving the market. Furthermore, higher investments across different industries such as automotive, pharmaceutical and packaging are the main factors that are boosting the growth of the global industrial robotics market. Apart from the above factors, the rise in the demand from the logistics sector due to the growing e-commerce industry is also augmenting the growth of the global industrial robotics market.
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Rising Demand for Automation across Different Industries is Propelling the Growth of Industrial Robotics Market
Demand for robotics is emanating from different industrial sectors, including automotive, chemical, pharmaceutical, e-commerce, and packaging industries. Demand for robots mainly depends upon the type of requirement in the industries, such as reducing labor costs and producing high-quality production. For instance, many pharmaceuticals industries during COVID-19 adopted automated, integrated robotics systems to manufacture respiratory and immune-building drugs to fulfill the demand of the consumers. Furthermore, many automotive industries are adopting automotive techniques like the robotic arm to reduce labor costs, providing growth opportunities for the global industrial robotics market. Therefore, there are heavy investments in the market of industrial robots, which is fuelling the market growth during the forecast period.
Increased Demand Across E-commerce Industry Opened Up Global Industrial Robotics Market Growth Opportunities
With economic growth in different regions across the globe, there has been a remarkable growth of e-commerce in the past few years. With the increase in the demand for various products across different economies, the product manufacturers have adopted automated robots to function some of the repetitive processes. According to the Robotic Industries Association, more than 2,50,000 industrial robots have been installed in the United States, which gives rise to an estimate of the penetration of industrial robots. Furthermore, the industrial robotics market has been witnessing a huge demand from past years, which gives rise to the adoption of smart factory systems wherein the robots play an important role in carrying out various functions.
Impact Of COVID-19 On The Global Industrial Robotics Market
The global industrial robotics market is positively affected by the COVID-19 pandemic. As a result of the COVID-19 pandemic, most of the organizations faced a decline in terms of their revenue. In contrast, the industrial robotics market has been slowly rising in most of the manufacturing industries, especially in pharmaceuticals and medical devices manufacturing plants. There was a sudden rise in CAGR, which attributed to the growth of industrial robots during a pandemic as there is a shortage of labor in most of the manufacturing plants due to lockdown in different regions of the world during the COVID-19 pandemic. So, the manufacturing sector shifted its manufacturing base to automated robotics solutions to fulfill consumers' demand during the global pandemic.
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Asia-Pacific Region to Account for Largest Market Share in Global Industrial Robotics Market
In terms of the regional analysis, the global industrial robotics market is classified into North America, Europe, the Asia-Pacific, Latin America and The Middle East, and Africa. North America leads the global market; the Asia-Pacific region is anticipated to cater the highest CAGR during the forecast period due to the rising automation in countries like India, Japan, and China. Apart from that, due to the rising population in the Asia Pacific region, there is an increase in the consumption of goods. Production capacity is enhancing and requires a high automated technique to produce these goods. Europe is also expecting exponential growth due to the smart factories and demand for customized and automated robots in the different countries of Europe.
Competitive Landscape
The global industrial robotics market is characterized by the presence of many local, regional, and global vendors. The industrial robotics market is highly competitive, with all the players continually competing to gain a larger market share. The key players operating in the global industrial robotics market are ABB, FANUC, YASKAWA, KUKA, Mitsubishi Electric, Kawasaki Heavy Industries, Denso Corporation, NACHI-FUJIKOSHI, Seiko Epson, Drr, Rethink Robotics, Franka Emika, F&P Robotics, Omron Adept Technology, Staubli, Siasun Robot and Automation, ComauSpaItaly, Universal Robots, YAMAHA, and other prominent players.
Market Segment:
By Robot Type (Articulated Robot, Cylindrical Robot, Linear Robots, Parallel Robot, Scara Robot, Spherical Robots, And Others)
By Applications (Handling, Assembling & Disassembling, Welding & Soldering, Dispensing, Processing And Others)
By End-Users(Automotive, Electrical & Electronics, Healthcare & Pharmaceuticals, Food & Beverages, Rubber & Plastics, Metal & Machinery, And Others)
By Region (North America, Europe, The Asia Pacific, Latin America, The Middle East, And Africa)
Table of Content:
Report Overview
Global Growth Trends
Competition Landscape by Key Players
Data Segments
North America Market Analysis
Europe Market Analysis
Asia-Pacific Market Analysis
Latin America Market Analysis
Middle East & Africa Market Analysis
Key Players Profiles Market Analysis
Analysts Viewpoints/Conclusions
Appendix
.................Some More Report..............
Europe Organic Coffee Market: https://www.barchart.com/story/news/13514163/europe-organic-coffee-market-size-trend-leading-players-and-future-prospect-till-2030
Asia Pacific Organic Coffee Market: https://www.barchart.com/story/news/13514161/asia-pacific-organic-coffee-market-size-share-key-opportunities-and-future-prospect-till-2030
Global DIY Home Security Systems Market: https://www.barchart.com/story/news/13514159/global-diy-home-security-systems-market-size-trend-predictable-to-witness-sustainable-evolution-over-2030
North America DIY Home Security Systems Market: https://www.barchart.com/story/news/13514157/north-america-diy-home-security-systems-market-size-trend-future-prediction-report-2022-2030
Europe DIY Home Security Systems Market: https://www.barchart.com/story/news/13514155/europe-diy-home-security-systems-market-size-value-projected-to-expand-by-2022-2030
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We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today's competitive environment. Report Ocean is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.
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