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Articulated Robot Market Outlook Report 2024 | Size, Trends, Analysis, Insights, Overview By 2033
Articulated Robot Market
Articulated Robot Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $54.12 billion In 2028 At A CAGR Of 5.4% :
The articulated robot market size has grown rapidly in recent years. It will grow from $15.69 billion in 2023 to $18.26 billion in 2024 at a compound annual growth rate (CAGR) of 16.4%. The growth in the historic period can be attributed to manufacturing sector growth, automotive industry adoption, rise of electronics and semiconductors, focus on efficiency, medical and healthcare applications.
The articulated robot market size is expected to see rapid growth in the next few years. It will grow to $31.89 billion in 2028 at a compound annual growth rate (CAGR) of 15.0%. The growth in the forecast period can be attributed to regulatory support and safety standards, smart factory growth , automotive industry evolution , energy efficiency and sustainability, smes embracing robotics. Major trends in the forecast period include industry 4.0 and automation, collaborative robotics, healthcare applications , food and beverage industry, artificial intelligence integration.
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Articulated Robot Market Major Segments
The articulated robot market covered in this report is segmented -
1) By Type: 4-Axis Or Less, 5-Axis, 6-Axis Or More
2) By Payload: Upto 16 Kg, 16 To 60 Kg, 60 To 225 Kg, More Than 225 Kg
3) By Function: Handling, Welding, Dispensing, Assembly, Processing, Other Functions
4) By Component: Controller, Arm, End Effector, Drive, Sensor, Other Components
5) By End Industry: Automotive, Electrical And Electronics, Chemicals, Rubber And Plastics, Metal And Machinery, Food And Beverages, Precision Engineering And Optics, Pharmaceuticals And Cosmetics, Other End-Users
Key Driver - Articulated Robots Market Thrives On The Rise Of Industrial Robot Adoption
The increase in demand for industrial robots is expected to propel the growth of the articulated robots market. Industrial robots are mechanical systems or machines programmed to perform production-related activities autonomously in industrial settings. Articulated robots are industrial robots with a human resemblance and are used in various industrial applications. For instance, in June 2022, according to the data published by 'The International Federation of Robotics, a Germany-based, non-profit organization to promote, strengthen, and protect the robotics industry, in October 2021, the actual installation of industrial robots reached 4.35 million units, with a 13% growth in 2021 as compared to 2020. It is expected to reach 5.18 million units in 2024. Therefore, increasing demand for industrial robots is driving the growth of the articulated robot market.
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Prominent Trend - Tech Advancements Drive Articulated Robot Market
Rapid technological changes are the key trend gaining popularity in the articulated robot market. Key players are focusing on advancements such as collaborative robots, commercial drones, AI-enabled robots, self-healing robots, cloud robots, and customized robots to gain a competitive edge in the market. For example, in September 2021, Honeywell, a US-based company that diversified manufacturing and technology company, introduced new robotic technology designed to help warehouses and distribution centers automate the manual process of unloading pallets, to reduce the operational risks of potential injuries and labor shortages. The Smart Flexible Depalletizer, driven by sophisticated machine learning and advances in perception and gripping technologies, minimizes the need for manual labor to break down pallet loads, roles that carry the risk of injury to labor, experience high turnover, and are challenging to staff.
Articulated Robot Market Players
Major companies operating in the articulated robot market report are ABB Ltd., FANUC Corporation, Kawasaki Heavy Industries Ltd., KUKA AG, Omron Adept Technology Inc., Mitsubishi Electric Corporation, Seiko Epson Corporation, Denso Wave Incorporated, Nachi-Fujikoshi Corp., Yaskawa Electric Corporation, Aurotek Corporation, Stubli International, ST Robotics, Toshiba Machine Co. Ltd., Yamaha Motor Co. Ltd., Cassioli Group, DAIHEN Corporation, Comau, Universal Robots, Epson Robots, Midea Group, B+M Surface Systems GmbH, Wittmann Battenfeld Group, Hanwha Corporation/Momentum, Gudel AG, Hyundai Robotics, Techman Robot, Franka Emika, AUBO Robotics, F&P Robotics AG
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the articulated robots market share in 2023. The regions covered in the articulated robot market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Articulated Robot Market Report Structure
3. Articulated Robot Market Trends And Strategies
4. Articulated Robot Market - Macro Economic Scenario
5. Articulated Robot Market Size And Growth
…..
27. Articulated Robot Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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